Recap: Chesterfield FC AGM 2024
In case you missed it earlier this month, the accounts show they made a loss of £2.1m for the financial year ending June 30, 2023. But brothers Phil and Ashley Kirk are set to put in a further investment up to £2m which will take their share in the club to 75% and mean they are the majority owners.
Our reporter Liam Norcliffe is at the AGM and will bring you all the live updates.
Spireites AGM: Live updates (7.30pm)
What will Kirk brothers' £2m be used for?
The Kirk brothers' £2m investment, if approved, will be used for:
- Promotion bonuses for players this season
- Ground improvements (energy efficient floodlights, swap the astro around the edge of the pitch)
- Helping the community trust
- £500,000 for additional working capital
Future funding
Phil Kirk says they are at a stage where they can start to think about bringing more money in from other investors. He says that will be a "careful decision."
Accounts to date
Forecasting revenue of £6m this year.
"But we will make a loss again," Ashley Kirk says. "We needed to get promoted and we have done eveyrhing in our power to back Paul Cook and the staff."
A passionate response from Phil Kirk after some tough questions about the financial picture: "The club is now in a really good place. On the pitch we are living dream. We are not going bust like some other clubs. The intention is to break even next season."
EFL money
Ashley Kirk says they have already been looking at the financial fair play rules for the EFL and they are happy they will fall within those boundaries.
They are set to get "seven-figures" from being in the EFL compared to £125,000 in the National League.
The Kirk brothers
As previously reported this month, brothers Phil and Ashley Kirk are set to put a further investment of up to £2m into the club which will increase their share to 75% and mean they are the majority owners.
We will also hear more about that tonight.