Stockport County Board Make Savings
Mon 8th Apr 2013 | Money & Finance
Stockport County have announced a raft of savings following a review of its finances by new Chief Executive, Ryan McKnight.
In a first of a new series of updates to the club’s fans, Vice-Chairman, Spencer Fearn has outlined the club’s financial position stating, “Over the past couple of months we have been completing a forensic review of all our expenditure. This has been led by Ryan McKnight who has been going through all income and expenditure lines at County.
“A lot of the costs we have incurred this year have been the hangover from the costs that Cheshire Sports had incurred and some serious negotiation has had to take place with suppliers to drive costs down.”
A summary of some of the savings are as follows:
- Electricity bill of £75,000 per year has been apportioned to CGC who have agreed to contribute towards this, giving a saving of £25,000 per year.
- A saving of £8,000 has been made on waste collection with a local contractor after it discovered they’d been charged for the emptying of ‘empty’ bins since November.
- The rates bill of £92,000 per year has been reduced almost 75% following detailed discussions the Valuation Office over a number of months.
Fearn added, “The finance function has now been taken on by Ryan and myself who are responsible for the paying of bills and forecasting with assistance from Kevan Taylor, this has saved us £20,000 per annum. In addition we are reducing the number of days per month with our accountants and replacing this with a part-time member of staff, which will save a further £15,000 per annum.
“Running Edgeley Park is very costly and we fully expect to save more money throughout the summer by working with our suppliers to secure better deals.”
Plans to increase revenue streams have seen McKnight working with a possible main kit sponsor as well as negotiations with the generous fan who continues to sponsor the back of the kit on behalf of St Ann’s hospice.
The Promotional Office Warehouse have agreed to continue as a sponsor of the Edgeley Park’s Railway End along with Coldwell Boxing for next season. Coldwell Boxing has also agreed to become the training kit sponsor on a one year deal.
The club’s partnership with CGC has driven inherited costs down in Year 1, with healthy profits predicted for Year 2. The club receives a minimum £80,000 payment split over four quarters.
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Posted by: Aaron Gourley
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