Morecambe director stays positive despite seven-figure loss

The accounts were published last week and showed, come the end of the club’s second season in League One, a drop-off from a profit close to £1.3m a year earlier.

Asked about the accounts at last Friday’s fans’ forum, Wakefield said: “It sounds a ridiculous thing to say that we’ve lost £1.2m and we’re one of the best clubs in the Football League but we are.

“(There’s an) average £20m loss in the Championship, eight or nine in League One and half that in League Two.

“All the stuff we’ve got control of, we do really well. Our losses stack up very nicely versus others.”

Co-chairman Graham Howse earlier put more meat on the bones in terms of how a profit had turned into a loss.

He explained: “There’s quite a few factors that contribute to that loss. The previous year, we had cup runs and played Tottenham which brought considerable income.

“That year (last season), we got knocked out of the FA Cup first round at Sheffield Wednesday. The Carabao Cup, we got to the third round but lost money along the way.

“Football income dropped considerably year on year. It’s not just money through the turnstiles, there are other factors.

“The year before, all clubs got £500,000 from the Premier League to help us out post-Covid.

“The loss was supported through loans and share ownership. We bought back the land between the Hurley Flyer and the new housing estate.

“That was done with the help of previous directors who had that land and gave us finance at zero rate of interest.”

With that land now at the club’s disposal, the question was also asked as to any future usage.

Howse added: “We were trying to get that back for some time; if we didn’t take action to try and bring it back, it could have slipped into someone else’s hands.

“We’ve looked at options with regards to a fan zone or maybe linking up with the Eden Project to do a park and ride.

“It’s subject to money coming in to make it of benefit to the club and fans.”