Shrewsbury Town report a £3m loss for the 2022-23 season - the club's eighth straight campaign in League One.
The club came 12th in League One, their second highest place in 30 years, but made major end of season changes as
"It was without question the most challenging and difficult season since my appointment as chairman in 1996," said Town chairman Roland Wycherley.He added, in his chairman's report in the accounts submitted to His Majesty's Revenue & Customs: "With losses of £600,000 also being recorded in the restated 2022 accounts, this follows total losses of more than £3m over the previous three seasons.
Shrewsbury, now approaching the end of their ninth straight season in English football's third tier, finished third in 2017-18, when Paul Hurst was first their manager, just missing out in the play-offs at Wembley.- with the target of keeping the club in the division. They currently sit 17th with seven games to go, eight points clear of safety.
But Wycherley, who had to support the club with more than £1m of his own money at the end of last season, added that the club's current revenue streams will limit their potential to punch above their weight again like they did in 2018, when they came so close to reaching the second tier again for the first time since 1989.
Wycherley said: "The method of calculation of the salary cap in the EFL means that our total revenue would need to double to be able to afford a playing budget to compete with many clubs currently in League One.""As in previous years, the club will not be making comment until after the meeting of shareholders which will be on 18 April.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Academy switch is aspirational for Shrewsbury kidsShrewsbury Town’s academy will move from Shrewsbury Sports Village to Croud Meadow this summer.
Read more »
Watch: Queen Camilla arrives in Shrewsbury town centre as part of visit to county townThe clouds parted, the sun came out and the crowds were up to five deep surrounding Shrewsbury's Square as Queen Camilla visited the county town.
Read more »
Major Shrewsbury business warns it could pull out of town over parking charge hikesOne of Shrewsbury's most well-known businesses has warned it could consider leaving the town if Shropshire Council goes ahead with major hikes in parking charges.
Read more »
Shrewsbury Town 0-2 BlackpoolLeague One play-off hopefuls Blackpool win 2-0 at relegation-threatened Shrewsbury with goals from Karamoko Dembele and Hayden Coulson.
Read more »
Lincoln City 3-0 Shrewsbury TownLincoln City beat Shrewsbury Town to stretch their unbeaten League One run to nine matches.
Read more »
Shrewsbury Town snap up former West Brom wingerShrewsbury Town have signed former West Brom winger Rayhaan Tulloch on a short-term deal until the end of the season.
Read more »