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Town Make Loss

By: Rob Sedgwick
Date: 10/09/2010

THE Mariners made a loss of £40,000 in the previous financial year, despite receiving over half a million pounds for club captain Ryan Bennett. The club's total debt is now over £2.6m, and increase of £47K over the previous year.

Obviously Town's income this season is likely to be reduced now that they have exited the Football League, although they will receive parachute payments for this season to ease the burden and the following one if they fail to gain promotion.

The reality is Grimsby are entirely dependent on the club's directors (chiefly John Fenty and Mike Parker) for their continued existence, who are proposing at the AGM to increase their share holdings, in order to continue to support the club. The wage bill is unlikely to be able to be financed this season without it.

Grim Rob Says: Every time the club's finances are revealed, the extent to which the business is reliant upon its directors is reiterated. We've had a torrid few years since the turn of the century. But Town have been through difficult times before and have always soldiered on since they were founded in 1878. All the fans can do is to continue to support the club, and spend what money they can on its products and services, and get to as many games as they can. Our support this season has been excellent so far considering the last few years, and the vast majority of supporters I suspect will continue to devote a large part of their lives to the Mariners, whatever level they are playing at.

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