Shots £1m in debt but 'safe' says owner

New Aldershot Town owner Deane Wood has confirmed the National League club is £1m in debt, but has reassured fans the club is safe.

The local businessman and club director stepped up earlier this week to replace long-time chairman Shahid Azeem, choosing to restructure the club himself rather than accept new investment from an external consortium.

"I have put in £200,000 already. We're losing £400,000 plus this year. We were £2m in debt, but I'm wiping a load of my debt into shares," Wood told BBC Radio Surrey.

Azeem and fellow director John Leppard have both stood down as directors, and written off their entire loans to the club, transferring their shares to Wood at no cost.

Wood admits his decision is "really exciting and really terrifying", but he is positive about the future.

"My thing is to get these people paid up. I don't like running a business where you owe money. I like to pay my bills as I go," he added.

"You can then turn in your profit, which will go back into paying debts at first, then it'll go back into the first team so hopefully have a bigger and better team.

"Shahid and I are two different people. I'm more outspoken, telling everyone how it is, doing it my way.

"Who's to say my way will work in football? I'm going to give it a good try. I'm an Aldershot boy, I live round Aldershot, I can't keep my head down and cover my face up. I want to be big-headed and proud."

The original Aldershot FC went bust in 1992, and the newly formed club went into adminstration in 2013.

Wood says there is no threat of administration now, but the club needs to be run differently.

"I've put a bit of money in to keep the wolves away from the door, but we've got to change the way the business is run. We've got to save money, but at the same time we've got to earn more money," he added.

Wood says he is not looking for any outside investment into the football operation. However, he will continue negotiations with the local council over plans to redevelop the EBB Stadium, and then seek outside business partners for that project.

On the pitch, the Shots are fighting relegation, currently 19th, and only clear of the relegation zone on goal difference.

New manager John Coleman replaced Tommy Widdrington in October, and after losing his first six matches in charge, they are back out of the bottom four.

"All I want to do is survive this year, get everything in place, and then I'm hoping crowds will get better, get more to sponsor and advertise. We all want to be in the play-ofs, and we all want to go up," Wood added.

"If we can finish middle of the table, John will have done a good job."

Wood also urged fans to help support the club in any way they can.

"Be patient, remember its not Deane Wood's club. It's Aldershot Town. I'm only leading it. We need other people to come in, maybe spend £500, doesn't have to be £5,000.

"Chairmen at all football clubs are the only people - apart from the volunteers - who have to work and get nothing back out. That's something people have to remember."