Shrewsbury Town have received a major boost as loans invested into the club by Roland Wycherley have been converted into shareholding. This reduces the club’s liabilities by £2.1 million as the shares are classified as equity and with the long-term owner seeking a potential sale of the club, this may help to ease the process.
The Shropshire businessman has owned the club for 28 years and has overseen the club consolidating themselves in League One, having spent the last ten seasons competing in the third tier.
Shrewsbury Town Struggles on The Pitch Contrast With Strong Backroom Setup
It has been a disappointing campaign for Paul Hurst’s team in League One as their midweek defeat to Stockport County has seen them lose seven of their opening nine matches in the third tier. They have conceded 15 times in that run with their sole victory coming in a 3-0 home success over Leyton Orient at the end of August.
They have been finishing in the lower mid-table positions in League One in recent seasons but they have undergone an impressive expansion off the pitch since Roland Wycherley became Chairman of the club in 1996. They are relatively stable financially and built a new stadium which they moved into in 2007 in addition to building a new training ground in that period.
BBC Sport provided an update last month that the club was moving closer to a sale and the write-off of the loan, according to a report from the Shropshire Star, from the owner helps to reduce the liabilities of the club, which were stated at over £2.5 million in the most recent accounts. This should make them more appealing to investors and coupled with the investment in infrastructure, the club may appeal to investors providing they maintain their place in League One.
Next Three Matches Key as Shrews Aim to Kickstart League One Campaign
It does not get any easier for Shrewsbury Town as they travel to Bolton Wanderers at the weekend, who are on a three-match winning run following their 4-2 midweek win over Northampton Town. However, Paul Hurst should look to upcoming games against Exeter City and Crawley Town as an opportunity to get some points on the board and change their fortunes in League One.
Shrewsbury Town are unbeaten in their last five outings against Crawley and will have to target three points here to ensure they do not get cut adrift in the relegation zone. Their success or lack of on the pitch may come into the thinking of potential investors so they must improve their form to avoid a relegation battle and to attract suitable investment off the field.
It is an important period for the club in terms of results both on and off the pitch and it may take time for their team to settle, as an active summer transfer has seen nine new permanent arrivals in addition to six players joining on loan until the end of the campaign.