Chesterfield FC chairman Dave Allen has revealed he recently put in an extra £500,000 in to the club.
His message came at the club’s AGM held last night (Thursday) before it was stated the club is carrying too much debt.
Whilst turnover has increased 18 per cent, from £5.36m to £6.34m, the club ran at an overall loss of £1,063,818 in the last financial year.
Mr Allen stated: “Only recently I’ve had to put another half a million pounds in to keep us going.”
Efforts have been made to reduce the rate of interest owed to Chesterfield Borough Council, with the debt standing at over £900,000.
Chesterfield chief executive Chris Turner said: “The debt is far too high for this club. I think the only way we can reduce the debt is by getting into the Championship.”
The Spireites have made an encouraging start to life in League One following the League Two title winning success in May.
The 2013/14 season also saw Paul Cook’s Blues advance to the JPT final at Wembley, where they eventually lost out to Peterborough United.
“I’m immensely proud of this football club. We have a talented manager here,” added Turner.