Cheltenham Town have announced a financial loss of over £300,000 in their latest accounts update, a reduction from previous figures.
Following on from a season which saw the club relegated to League Two and then struggle to make a mark in the fourth tier, the Robins have been hit with a slight blow to their finances as a result.
Positive Update Despite Figures
In a statement published on the club website, Cheltenham revealed their loss across the financial year ending 31st May 2025 of £325,588, primarily driven by a loss of revenue across the board.
A large chunk of that decrease has come from lower income from transfer sales, with the previous year seeing the club make big sales in the form of Will Goodwin to Oxford United and Alfie May’s departure to Charlton Athletic.
As a result of relegation, the club’s running cost has also decreased significantly, with spending reduced by £274,000, driven by cuts in wages, which encompassed £20% of the figure.
Town also revealed there has been a reduction in the number of debtors and creditors between this financial year in the last, while there was still a similar amount of cash in the bank to deal with.
The £325,888 figure marks a reduction from last year’s annual accounts, totalling at a loss in excess of half a million pounds; however, that figure still remains short of totals from the previous campaigns, with the 2022 statement seeing a £400,000 profit made in the season they won promotion into League One.
A statement attached to the announcement said:
“There has been significant change since the 2025 Year End with Mike Garlick becoming majority owner in the summer.
This has allowed the Club to look forward with a positive outlook and assess areas that require focus and development in order to increase revenue going forward to allow the Club to grow and challenge on and off the pitch.
We’d like to take this opportunity to thank every fan for their continued support both last season and the current season with attendances remaining strong and the atmosphere being positive and engaging.”
Superb Management Of Finances
As much as they earned stick from fans as a result of their low spending, the previous owners and board of Cheltenham Town do deserve some praise of how they have handled their finances over the past year or so.
With the club cash-strapped for some time, previous Chair Dave Bloxham handled the club coffers extremely well, which has arguably paved the way for Mike Garlick to come in and offer a much-needed injection of cash.
This stable platform that the club find themselves on is a great launching point for them to move onwards, with Steve Cotterill now likely to get more backing than his predecessors in the market and try and propel the Robins back into promotion conversations.