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Town Cut Their Losses
By: Dan Humphrey
Date: 02/12/2003
GRIMSBY Town Football Club have said they have cut their losses by drastically tightening their belts this last financial year, but warn that further prudence is still required.
The Grimsby Evening Telegraph reports that the club made a small loss of just over £70,000 this year, compared with a huge ITV Digital related loss of £1.162 million the previous year.
Part of the improved financial situation can be put down to increased income from sponsorship and from the commercial department, whilst offloading large wage earners such as Danny Coyne have also made a difference.
However, it will be interesting to see how the Mariners cope in the next 12 months as the club adjusts to life in Division Two with a number of players still being paid Division One salaries.
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