Spirites suffer £1m loss after relegation

National League Chesterfield have reported a loss of £1m for their 2017-18 financial year, in which the club was relegated for the second successive season out of the Football League.

The loss follows a deficit of more than half a million pounds in 2016/17.

Last season’s poor performance saw turnover slump by £756,170. Under-fire owner Dave Allen pumped £1.3m into the club last season, it has been revealed, while the club borrowed £1.2m in long-terms loans.

The Spirites are in danger of a third successive relegation despite Saturday’s win over high-flying Salford City, and currently lie 20th in the National League.