Cheltenham Town Cheltenham Town FC FOOTBALL

Cheltenham Town announced £400,000 in profits, here’s what that meant for the Robins

On the 6th of February Cheltenham Town FC announced that they had made a profit of £400,00 for the financial year which ended in May of 2022.

For a club of Cheltenham’s size within the game, this was a big achievement, with finance director Clive Gowing telling the club website; “It is a very positive set of accounts and a fantastic achievement for everyone involved in the football club,”

“Having a strong financial footing enables us to look towards the future, which is helping with the success we have seen throughout Cheltenham Town.” 

The club has already reaped the rewards of the profits, with the money allowing the club to do things both on and off the pitch that haven’t been possible before.

It was a successful year in the board room and on the field in 2022, allowing the Robins to end the season with a big profit to their name.

Cheltenham achieved their highest-ever league finish last campaign finishing fifteenth in the Sky Bet League One under the guidance of Michael Duff, following a title-winning year the season prior.

Off the pitch, the club sold promising youth defender Will Armitage to Southampton for £200,000, an impressive amount for a player who only had two senior appearances for the Robins.

These achievements allowed the Robins to purchase their training facilities, a big step forward for the club.

Seasons has been the training ground of the club since 2002 but had been leased to the club, although they did take over full control of the site in 2013 following the closure of the building.

Securing the building gives the Robins a secure training base for years to come as well as the opportunity to upgrade the facilities at the club.

“On behalf of the Board I have to say how pleased we are to have acquired the training ground for the football club,” chairman David Bloxham told the club website in July.

“It has been a long process to reach this point – over a year since we began discussions with Zurich – but it is a major step forward for the club.

“Much of the training ground is designated as green space in the latest plan for the area so cannot be built upon, although there is an opportunity to re-develop the existing buildings and car park area.”

As well as securing the training facilities, the club has made major moves in the transfer market to help the team progress under new manager Wade Elliott.

This January Aiden Keena was signed from Sligo Rovers in Ireland for a club-record fee.

Keena impressed in his homeland, scoring eighteen and getting three assists in the League Of Ireland Premier Division for Sligo, finishing as the top scorer in the league.

These developments have pointed towards a strong future for Cheltenham, provided that Elliott can keep them in the league this season.

After a good start to the season, poor form has set in for the Robins, seeing them sit just two points above the drop zone.

The money from League One is important for Cheltenham, allowing them to progress as a club both on and off the pitch, allowing the club to continue being a sustainable business.

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