Spireites: Chesterfield chief executive Chris Turner upbeat about club’s future despite financial restraints
Concern swelled after it was revealed at Monday’s AGM the club had outstanding loans to the tune of £7 million.
Chairman Dave Allen stressed the need for the League Two club to reduce its debt by more than half.
He told shareholders: “The club carries far too much debt, with loans of £7 million, which needs to be reduced.
“Ideally, we’d like to get the debt to around half that figure. I think this business could sustain a debt of £3 million.”
He said Chesterfield will have to rely on producing its own players and must become a selling club, as it looks towards balancing the books.
Season ticket sales are down by 1,000 compared to last year’s League One campaign, while the club are in talks with Chesterfield Borough Council to write off an outstanding £960,000 loan.
Chief executive Chris Turner said: “We’ve got to find other savings in the next 12 months to keep things on an even keel.”
“We can’t spend above our means so we do have to be a selling club. We have to produce our own players.”
The club are exploring commercial opportunities similar to last year’s Elton John concert and he said the club is confident of reaching its targets.
“To put fans’ minds at rest we are not going to be going out of business, but we have to make sure we spend within our limits,” he added.
“I’m very optimistic and positive about the club’s future.”