Text at top (next game etc)

Next Game: Scarborough In The League At Edgar Street On Tuesday 19th November At 7.45pm

Wednesday, September 13, 2023

Shareholders To Receive Financial Update

Shareholders in Hereford FC have been invited to a meeting later this month in which they will be given a financial update.

As well as looking at last season's accounts, they will be also be told how this season is fairing.

It is thought the board will announce that the club lost money last season despite the FA Cup run which included the televised home game against Portsmouth.

The loss is said to be nowhere near as much as in recent seasons and had it not been decided to change the manager the accounts would probably have shown a profit.

One item expected to be discussed is the cost of 'administration' at Edgar Street.

The turnover is the year to May 2022 was £848,150 and administrative expenses were £298,418.

It follows that administration took up around 35% of the costs of running the club. Or to put it another way close to £6,000 per week. 

Two recent items of news suggests they are watching the pennies. 

The decision to stop the matchday chat is said to have saved the club around £500 - it is back after the cost was covered by a supporter - and not printing the programme for most games around £4000.

But these cuts are miminal in the overall scheme of things. 

The real problem is the cost of running the club. Many blame that on the fact that Edgar Street is an old stadium and therefore requires a lot of upkeep. But the rent paid to the Council is just £10K per year which is very reasonable. 

And it's thought little expenditure has taken place on the stadium itself recently. 

However there's little doubt that if the football budget is to be increased admin costs need to be kept under control.