Imps announce pre tax profit

Last updated : 25 January 2005 By Gary Hutchinson
Hoping to resign a large portion of the current squad - Keith
Delighted Imps chairman Rob Bradley has praised manager Keith Alexander and his players as the club announced a pre-tax profit of more than £500,000.
Figures released to shareholders today show the Imps made a pre-tax profit of £735,748 up to the end of June last year.

Bradley admitted the announcement was more of a financial exercise rather than actual cash in the bank, but even so the club was in a stable financial situation, something unimaginable three years ago.

"It's great news for the club that we will be able to announce a very healthy profit at our annual meeting on February 17," said Bradley. It's down to good housekeeping from the board and the club's staff. But a massive proportion of that success is down to the manager and his players. We've managed to reach the play-offs for the past two seasons, gates are up and we're well placed again now - success on the field is a very pleasing trend and one which I hope continues."
 Bradley did voice his concern that fans may get the wrong idea about the announcement. The last thing the club want is a return to the 1982/83 season when fans believed cash was being held back by the board and thus affecting the clubs chances on the pitch. Chairman Gilbert Blades ultimately paid the price for the fans impatience with his job, and City faced 20 years of financial struggle. Bradley made his feelings on the prospect of large transfer fees being paid very clear.

"I don't want supporters to think we're making hundreds of thousands of pounds, so why isn't the money going to the manager to bring in players."

Imps fans no doubt would like to see new faces arriving for cash, but the clubs current stability is helped by the strict wage structure and lack of payments made to agents.

"We will do all we can to help the manager and I'm pleased to say we've had already discussions with Keith about making more funds available because there are players we want to re-sign who are out of contract at the end of the season, and we also want to push on for promotion now."

It certainly seems imperative that the Imps offer some new contracts as only Gareth McAuley is contracted beyond the end of the season. However its not only the battle on the pitch that has to be won as Bradley revealed where some of the cash may be used.

"We also have commitments to pay off things like bank loans. We do run with manageable debt in terms of having a modest overdraft and loans, but there is no way we will allow a repetition of what happened to the club in 2002 when we went into administration."

The announcement that Sky cameras will be visiting Sincil Bank will be a further financial boost, and with the Imps sat in the play off zone in 7th position the future looks very rosy. Certainly with continued sensible business management from Rob Bradley, the board and all connected with the club there is a feeling Lincoln City could be on the threshold of a very exciting time in the clubs history.