Shrewsbury announce profit of more than £2.25million

Shrewsbury chief executive officer Brian Caldwell has predicted a bright future for the Sky Bet League One club which has announced a profit of more than £2.25million.

The club’s latest accounts, for the period to the end of the 2018/19 season, show a large increase on the previous year’s profit of £340,000.

The accounts include the sales of Jon Nolan and Toto Nsiala to Ipswich as the pair followed former Shrews boss Paul Hurst to Portman Road.

The Montgomery Waters Meadow outfit are also due sell-ons following the transfer of Conor Goldson from Brighton to Rangers and Ryan Woods from Brentford to Stoke.

Caldwell told the Shrewsbury website: “We have continued to show a profit over the last few years.

“We have done well over recent years to manage our money correctly, and hopefully we are a model for other football clubs to follow.

“We’ve had a lot of transfer fees but some of that money hasn’t come in yet. Fees will also come in during the next financial year. We have to account for things even if the money is still to come in.

“We have done phenomenally well again. In that time, we have invested in the club again. Football is very, very difficult. The accounts look very good and it just so happens that things have fallen in this financial year.

“A lot of the money in the accounts hasn’t been received yet. That will help us going forward with income streams. We have been fortunate that we have had some big games, they provide extra income.

“We have spent money on things like the dressing room upgrade, it helps our infrastructure grow. They are things we probably wouldn’t have done unless we had the money coming in. We want to invest our money in long-term projects and invest in things that will benefit the club in the long run.”

Manager Sam Ricketts’ Shrews currently lie 16th in the League One table and enjoyed a good run during the current season’s FA Cup which saw them lose to Liverpool in the fourth round.