The accounts of both York City FC and its parent company have been published.
They show the high financial cost to the owners of their first year in charge of City.
Julie-Anne Uggla and her son Matt Uggla bought a 51% controlling stake in the club in June 2023, via their company 364 Sports Ltd.
The June 2023 to June 2024 accounts of 364 Sport Ltd show that City’s parent company made a loss of £2.15 million.
Many professional clubs make a loss, so that in itself should not unduly alarm the fans, who have seen their team come close to financial ruin more than once in recent years.
However, the York City FC Ltd accounts for the year to June 2024 show how dependent the club is on its majority shareholders.
Financial statements say: “The company does not have an overdraft facility and meets its day-to-day funding requirement with support from its directors and shareholders.
“The current directors and owners are confident that its major shareholder will continue to provide the necessary funds to bridge the shortfall in working capital of the company so that it can meet its financial obligations as and when they fall due in the next twelve months or whilst they have ultimate ownership.
“However, there can be no certainty in these matters.”
The club has exercised its legal right not to publish the accounts in full.
But the figures that have been published show the total spending on transfer fees in the year to June 2024 was close to half a million pounds.
The precise transfer fee spend was £473,630. This would have included players like Tyler Cordner, Dan Batty and Dipo Akinyemi
It is likely that the transfer fees and wages bill have increased this year as the club has strengthened its squad in a push for promotion out of the National League.
But this will have been at least partially offset by larger crowds at City home games, and bigger commercial deals.
By way of comparison, the money spent on transfer fees by Wrexham AFC in 2022/23, the season they were promoted from the National League to League Two, was £1.1 million.