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NFFC Release Financial Accounts For 2007/08

The latest set of financial figures released by John Pelling (NFFC Financial Director), shows that the club is still operating at a loss, but because of the continued bankrolling by Chairman Nigel Doughty, we are paying our dues.

The overall trading figures for the period were down from 9.2M-7.6M. This was due mainly to a early exits from the Cup competitions and reduced TV money. Another reason given for the drop, was a reduction in commercial revenue, due to the fact that last season saw the unveiling of a new away kit which generates less income than the home kit.

Another season spent in League 1, also hit the finances hard and this saw gate receipts fall from 5.6M-4.6M. All in all, the club is in decent shape financially and only has two significant debts. One is 3.6M owed to the City Council and the other is monies owed to Nigel Doughty. The total figure owed to the Chairman is said to be 40.2M. He is currently bailing the club out on an annual basis and last year LOANED the club 6.6M. The accounts show that the monies owed to the Chairman are repayable in 2011.

You can see the financial details in full at the official site here.




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The Journalist

Writer: guinless Mail feedback, articles or suggestions

Date:Sunday December 14 2008

Time: 8:56AM

 

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