York City’s financial management consultant Peter Rookes believes the club’s new board face a “mammoth task” if they remain in control of affairs at Bootham Crescent next season, report The York Press.
Rookes is predicting a “challenging” campaign after the club’s accounts revealed an operating loss of £500,000 for 2016/17. If an interested party is not found to buy JM Packaging’s 75 per cent majority shareholding in the Minstermen before the April 30 deadline, then City directors Steve Kilmartin, Ian McAndrew, Dave Penney and Richard Adams will be tasked with overseeing a break-even budget for the 2018/19 season.
The total loss in central funding since City’s last season in the Football League two years ago and the start of next term, when all parachute payments will cease, will amount to approximately £1milllion and Rookes said: “Trying to offset this reduction in funding, whilst maintaining a playing budget to meet the supporters’ expectations, will be a mammoth task for the new club board with the move from Bootham Crescent still over a year away and 2018/19 is expected to be a challenging season.”
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