The cost of relegation from the Championship on Barnsley FC has been made clear by the club's newly-published accounts for the 2014/15 season.
The Reds made a loss of £3,004,116 in that period which is just under a million more than in the previous year. The report once again highlights the club's dependence on the funding of owner Patrick Cryne who offset the loss by introducing £2.9million in 'future share subscriptions'.
Cryne, who has pumped millions of pounds into his hometown club over more than a decade, has also guaranteed an overdraft of just under £2million. Barnsley's turnover in 2014/15 dropped by 49 per cent from £9,371,041 to £4,812,360 while their wagebill was cut by 37 per cent from £7,772,916 to £4,866,283.
The report states: "The club's annual wage bill was substantially reduced compared to the previous season in the Championship but, with certain players retaining Championship value contracts, the wage bill was still high compared to other League One clubs."
Barnsley had to pay compensation to manager Danny Wilson and his assistant Chris Hutchings after their sacking as well as a fee to bring in Lee Johnson. The report added: "The cost of changing the management staff was significant but not as considerable as when David Flitcroft and his staff left the season before."
