Mariners set sail for profit hike – despite relegation

Grimsby Town Football Club has increased profits, despite being relegated from the Football League at the end of last season.

For the year-ending May 31 2021, the Mariners reported a profit of £195,505 (against £145,660 in 2020).

Covid restrictions during the season saw fans locked out of games, resulting in turnover in 2021 18% down vs 2020 (-£644,848). This was partially offset by government and local authority grants received of £593,216.

The Blundell Park club was sold last May to Jason Stockwood and Andrew Pettit, who took over from the divisive figure of John Fenty, who many fans saw as the reason for the Club’s fall from the Football League.

Andrew Pettit, vice chair, said: “Following the acquisition of a majority interest in Grimsby Town Football Club by 1878 Partners on 5th May 2021, we are pleased to be able to report a profit for the financial year ended 31st May 2021. Notwithstanding relegation to the National League and the challenges posed by the Covid-19 pandemic, the previous board left the finances of the Club in a good state and we would like to record our thanks for this prior financial stewardship.”

Jason Stockwood, the Club’s chair added: “Andrew and I intend to continue to invest in the infrastructure and playing side of the Club and since the financial year end 1878 Partners has invested a further £1.125m into the business to support these initiatives.

“Despite becoming a private limited company, as part of the B Corp commitment to transparency, the board has also decided to retain the same element of detail and transparency as was provided in its previous status as a PLC.”