York City have posted losses of £274,000 in the financial year to June 2010 after spending an additional £250,000 in wages.

York narrowly avoided relegation in the 2008/09 season but generated extra cash from reaching the FA Trophy final.

The club's board said because of that Wembley appearance the playing budget was increased for the following season.

But despite an FA Cup run and a Blue Square Premier play-off final last term the club still made a loss.

The year's figures also include the proceeds of the sale of teenage striker Adam Boyes.

The Blue Square Bet Premier club's board said coming so close to promotion last season justified the decision to increase the wage budget.

In order to break even at York City we would have to more than half our playing budget. Jason McGill

As well as the wage bill, ground repair costs for the year more than doubled and rents and rates increased too.

There was also an increase in transfer fees paid following the addition of Michael Gash to the squad. He cost £55,000 from Ebbsfleet United.

These increased costs have led to a change from a small profit of £31,000 in 2008/09 to a loss of £274,000 in 2009/10.

A statement the board acknowledged that such losses are unsustainable and claimed they highlighted the need for a move to a new ground where additional sources of income and reduced maintenance costs will help.

Chairman Jason McGill told the club website: "In order to break even at York City we would have to more than half our playing budget.

"From 2008/09 season, you can see that this reduced budget level does not give us the resources to compete in the Conference and would potentially lead to adopting part-time status.

"This is not something the board believes our supporters want and we therefore continue to operate a playing budget that has the potential of generating on-pitch success."

E-mail this to a friend

Printable version