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Ken Anderson insists the financial picture at Wanderers will prove brighter than it is currently being portrayed.
A directors’ report in the recently published accounts for 2015 predicted that losses would continue during the 2016/17 season and were estimated at £11million, excluding player trading.
Anderson hopes ongoing efforts to reduce costs will reduce that figure and he claims to have now saved in excess of £1million by renegotiating various contracts.
“Losses have been substantially reduced and as I continuously say, and words I hate keep using, we have been working on commercially viable and sustainable business plans,” said the chairman, who pointed out that salaries accounted for nearly 98 per cent of income in the report.
“The losses are not going to be £11m going forward.
“Most of the people we have been dealing with, we have made a great deal of savings. On Friday we agreed with a firm of lawyers to reduce their fees by 35 per cent, which I can tell you is in excess of £250,000. Those sort of discussions and talks are ongoing.
“Previously I have said we have saved hundreds of thousands of pounds but we are now past the million pound figure.
“My own view is that things will get better. I have seen the figures and projections for next season, both based on whether we stay in League One or are lucky enough to go up into the Championship, and I can only say it will be a lot better going forward than when I arrived.”
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A directors’ report in the recently published accounts for 2015 predicted that losses would continue during the 2016/17 season and were estimated at £11million, excluding player trading.
Anderson hopes ongoing efforts to reduce costs will reduce that figure and he claims to have now saved in excess of £1million by renegotiating various contracts.
“Losses have been substantially reduced and as I continuously say, and words I hate keep using, we have been working on commercially viable and sustainable business plans,” said the chairman, who pointed out that salaries accounted for nearly 98 per cent of income in the report.
“The losses are not going to be £11m going forward.
“Most of the people we have been dealing with, we have made a great deal of savings. On Friday we agreed with a firm of lawyers to reduce their fees by 35 per cent, which I can tell you is in excess of £250,000. Those sort of discussions and talks are ongoing.
“Previously I have said we have saved hundreds of thousands of pounds but we are now past the million pound figure.
“My own view is that things will get better. I have seen the figures and projections for next season, both based on whether we stay in League One or are lucky enough to go up into the Championship, and I can only say it will be a lot better going forward than when I arrived.”
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