Stanley Chief Exec outlines ‘grim’ financial position

The chief executive of a cash strapped East Lancashire football club which last week closed its academy for aspiring young players has said its financial position is ‘grim’.

Accrington Stanley boss Warren Eastham gave the warning in response to a letter from Hyndburn Council leader Cllr Munsif Dad offering a meeting to discuss what assistance the authority could offer.

He accused the council of providing nothing but ’empty words of support’.

At the end of last month Stanley owner Andy Holt announced he would be stepping down accusing the authority of a ‘vendetta’ against it due to a long-running row over the club’s hospitality suites built in contravention of planning permission.

The club – which finished the season 21st in the EFL’s League Two, two places above relegation – then lost its stadium’s live music licence except on matchdays due to repeated noise complaints.

Mr Eastham said announcing the academy closure to parents children and staff was ‘without doubt, the hardest day of my career’.

His statement to the Local Democracy Reporting Service said: “”Since joining the club in August last year, I have been in ongoing discussions with the council.

“I’ve made numerous phone calls, attended meetings, sent emails, and submitted countless support requests to both the council and their officers.

“Yet, despite all this, nothing meaningful has come of it. .

“I will, of course, gladly accept the meeting—one I’ve both requested and attended many times before.

“I’ve done my best to bring reason to the table, but all I’ve received in return are empty words of support.

“What we need now is action, not platitudes.

“I’ve warned repeatedly about the risks of Andrew Holt walking away, and now what do we have – a letter.

“I’ve been given a year to make the club sustainable but this cannot be achieved with temporary fixes.

“We need real, lasting change.

“This is a club that lost £1 million in the 2023/24 season, a deficit covered entirely by Andrew Holt.

“The 2024/25 season was only balanced thanks to the Liverpool FA Cup draw, but that money is now gone and the mounting costs from the summer remain.

“The situation is grim: the academy’s March figures revealed a significant financial loss.

“April shows no improvement, worsened by steep increases in National Insurance and the minimum wage across the club, including the players.

“Right now, Accrington Stanley has no revenue stream until July.

“The ongoing issues with planning, noise abatement, and licensing have effectively shut us down.

“Now, with the council’s statement out in the public domain, I truly hope this marks the beginning of meaningful collaboration to safeguard the future of this fantastic club.

“Let me be clear: the closure of the academy is down to one thing only – a lack of income and mounting financial losses.

“Andy’s position is clear: he will fund the club to a £250,000 loss next season, but no further.

“After years of broken promises and a lack of appreciation for the £6million he has invested in this club over the past decade, he has reached his limit.

“This club belongs to the town and its fans.

“I will work tirelessly to ensure its future is secure.

“Accrington needs Accrington Stanley, and I am determined to see us through this challenging time.”