English Yeovil Town records reduced profit, calls for new stadium

Though English League One club Yeovil Town announced a profit of GBP 12,017 for the year ending 30 June 2005, the figure is down nearly GBP 400,000 against the previous year.

That issue, and the issue of a new stadium, was discussed at a recent general meeting at shareholders.

Chairman and majority shareholder John Fry reiterated that the stadium needs to be made

suitable for Coca-Cola Championship football.

"This shows the challenges that face all of us," Fry said. "We need a stadium that is suitable for the Championship because there is no reason why we should not get there. We have no overdraft and no debts although we live on the verge of it."

Yeovil Town's profit and loss account showed turnover of GBP 3,449,666, up GBP 161,428 versus 2004. The gross profit was down to GBP 597,659 from more than GBp 1.1 million.

The meeting, lasting around 30 minutes, covered arguably Yeovil Town's most successful season • 2004-2005 • which saw them win the Coca-Cola League Two title, reach the FA Cup fourth round and sell Gavin Williams toWest Ham United for GBP 250,000.

"I would argue this was the most successful season we have had, yet we only just covered our costs," finance director Paul Sargent said. "That is the main point arising from this."

Australia's Perth Glory made a claim of GBP 50,000 for training compensation from Yeovil Town for Adrian Caceres. On appeal by Yeovil Town, the claim was reduced to GBP 20,000. Caceres spent seven months at Yeovil Town's Huish Park, having been signed in July 2004.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.