Stags close to break even as club goes for promotion
Mansfield Town Football Club made a nominal financial loss in the last financial year of 2016, it has been revealed at its Annual General Meeting.
The club recorded a loss of just £10,000 from June 2015 to June 2016, reduced from £74,000 the previous year.
The accounts represented another sign of significant progress at One Call Stadium under the stewardship of chairman John Radford and chief executive Carolyn Radford along with the club’s board of directors.
Financial director Jim Beachill said the loss is expected to increase for 2017 through “a commitment to the new management team and player recruitment”.
The current season will see a “major investment” through John Radford and his group of companies, in the form of increased sponsorship and equity injection.
An investment of £2.5m has been injected into the club for 2017-18 and may increase further, it was confirmed.
Beachill said: “There is a big determination by John and Steve Evans [the manager] to achieve promotion this season.
“The determination John is showing is incredible. This football club is at his heart, he’s been a supporter since his childhood.
“I know one of his main ambitions in life is to take this club to the Championship.
“He wants to take it as far as he can, without being ‘daft’.”
In other news, John & Carolyn Radford – the chief executive – said that the current unused Bishop Street Stand at One Call Stadium would be eventually transformed in to terracing, segregated for home and away fans.
Mrs Radford said the club had explored the option of safe-standing for Bishop Street but that it wasn’t “financially viable”. Mr Radford added that work would only commence “once we start getting the crowds up”.
Meanwhile, work is continuing on the club’s training ground at Woburn Lane, Pleasley.
Mr Radford said: “Two fields have currently been laid and it should be in use by the end of September.”
The club is currently in talks with Hilton Hotel Group and expects the build of a new hotel, next to the current matchday ticket office adjacent to the Quarry Lane Stand, to start at the end of next season.
Darren Shaw, representing Stags Fans United, credited Jim Beachill for his steadfast work on the club’s finances, saying: “Jim should be credited for his work. Fans really appreciate it.”
Dean Foulkes, chairman of the Stags Supporters Association, said: “The finances are incredible, brilliant. People are so excited to support the club.”