Today, we take a look at Cheltenham Town as they announce finance issues, Crewe Alexandra who retain two of their players and Oxford United who have signed "the best non-league left winger".
Website www.thisisgloucestershire.co.uk has reported that Cheltenham Town Football Club is heading for safe ground after a "horrible" financial year, accoring to the club's Chairman.
Paul Baker's comments come as new accounts reveal the full extent of the financial hardship faced by the Robins in the past two years.
The figures show Cheltenham lost more than £825,000 in the 2008/09 financial year, with Mr Baker himself pumping £180,000 into the club to keep it afloat.
The net loss caused the club's auditors Grant Thornton to raise "significant doubt about the company's ability to continue as a going concern".
However, Mr Baker told the Echo the accounts for 2009/10, due to be published shortly, project a much happier picture, with the losses slashed.
He said: "The trouble with accounts is that they reflect on history. We are almost in a position to talk about the accounts for the financial year just gone, which thankfully show a massive improvement.
"Those figures were massively disappointing and worrying for any business. They were certainly our worst result ever and reflected a huge period of difficulty for the football club.
"The positive thing is we've turned that around. We have turned a huge loss in to one that will be around five figures within a year and that is massive."
The year in question was one of the most turbulent in the club's 121-year history and there was drama on and off the field.
It began with the sacking of former manager Keith Downing and ended with the club being relegated from League One.
During the year, the club also approached Cheltenham Borough Council for a £100,00 loan to ease a cash-flow crisis.
The loan application was eventually withdrawn with the club announcing "alternative funding" had been secured.
That funding came from the board of directors, either by investment in shares or from loans from Mr Baker and former director Simon Keswick.
The club sold £505,731 of share capital during the season, £100,000 of which saw the conversion of an existing directors loan into equity.
The accounts also highlight that £180,002 was loaned to the club from Mr Baker himself, while a further £100,000 was loaned by Mr Keswick.
Mr Baker said investment was crucial in keeping the club on an even keel but it cannot be relied upon again.
"The £500,000 sale of shares reflects the investment made by the current board of directors at the time," he said.
"When I say investment, there aren't many people who pay money to a football club and think they will get it back.
"I have been chairman for 15 years and had many years of huge enjoyment, but that financial result and that season gave nothing but grief.
"It was horrible for me personally and it is not something I want to have to repeat.
"It was a massive wake-up call for us all. We had to deal with the situation we were in and we did. But now we are working towards becoming sustainable for the future."
Crewe Alexander:
The Crewe Chronical has reported that Patrick Ada and Mat Mitchel-King have both been handed a lifeline as the Alex’s bid for new defenders stalled.
The duo appeared to be unwanted as boss Dario Gradi targeted Bury’s Ryan Cresswell and Peterborough’s Exodus Geohaghon.
Talks were held with 22-year-old Creswell at Reaseheath and contact has been made at Posh, but no progress has been made on either bid.
While Gradi was clear he is still on the lookout, he assured Ada and Mitchel-King they are still in his thoughts.
Gradi said: “The centre-half [Creswell] has disappeared off the radar.
“We’ve been trying to get in touch with his agent but he’s certainly not breaking his neck to get here.
“It’s not an emergency. A lot depends on how our centre-halves come back.
“I think they have improved and sometimes a lay-off in the summer improves players as well.
“They are not out of the reckoning – either of them.
“But if we can bring in someone who will assure us of conceding fewer goals we will do it.”
The news will give fresh hope to Ada, 25, and Mitchel-King, 26, who were both signed from non-league Histon last summer.
They both started well under Gudjon Thordarson but later suffered through a loss of form.
Ada was axed by Gradi after a poor display in the FA Cup at York in November and did not win his place back until the final few games of the season.
Gradi made Mitchel-King skipper at one stage but he lost his place through a back injury and struggled to get back in.
Both players demonstrated at times they have what it takes, but they will have to discover consistency to ward off a challenge of any newcomer.
The Oxford Mail has reported that United have swooped to capture the player regarded as the best left-winger in non-League football.
They have signed Mitchell Cole, the England C star, from Stevenage Borough on a two-year contract.
Cole, 24, who was at Southend United from 2005-2007, has made 121 appearances for Stevenage, scoring 20 times, and featured in 32 Stevenage games last season as they won the Conference title, including both matches against Oxford, who have joined them in League Two after winning the play-off final.
First called up to the England C team at the age of 17, Cole found the net seven times in 14 games for England C.
He is Oxford United’s eighth signing of the summer.
