Stevenage Losses

[HO_CHI_MINSTER]

Stevenage have announced a loss of over £151,000 for the 2005/06 season - and warned it could have been even higher.
The club received a sell-on fee from DJ Campbell's move from Brentford to Birmingham in January 2006, and a fee from Kettering for Anthony Elding.

Investing heavily in players after losing in the 2005 play-off final, they missed out on promotion again in 2006.

"It's a warning shot of what can happen if you chase a dream and lose," Borough chairman Phil Wallace said.

"This brings the accumulated losses since I've been here to well over £1m and somehow we have to stop this continual drain on our cash flow."

Borough went some way to arresting their financial worries by selling midfielder George Boyd to League Two side Peterborough for a Conference record fee of £260,000 in the January transfer window.

Wallace added: "Selling George was the right thing to do, both from his point of view and financially.

"We feel very confident about the future and now we're at an exciting crossroads with results starting to go our way, with a brand of football that our fans want to see."

Stevenage currently lie eighth in the Conference table, having lost only one of their last nine league games.