Shrewsbury Town: Promotion will cost club money - Matt Williams

Shrewsbury Town v Chelsea
Shrewsbury attracted a new Greenhous Meadow record crowd of 10,361 for Chelsea's visit in October

Shrewsbury Town chief executive Matt Williams has warned that the cost of winning promotion will mean further losses for the League Two club.

After revealing that the club suffered a £285,000 loss last season in going down from League One, Williams says rebuilding has come at a cost.

"Regardless of what happens, whether we get promoted or not, we will also lose a significant sum of money," he said.

"The board of directors believed that it was the right course of action."

Shrewsbury responded to relegation under Mike Jackson, three months after veteran boss Graham Turner had resigned, by bringing in Williams from Blackpool as the club's new off-field supremo, appointing Micky Mellon as their new manager and keeping Jackson on as his number two.

"It was about creating a vision and a strategy moving forward, bringing in both myself and Micky Mellon as manager," added Williams.

"Hopefully, people can see the results of that from the changes we have made off the field, to help get the club back up at the first opportunity."

Analysis: Mark Elliott, BBC Radio Shropshire
"Fans of other clubs have accused Shrewsbury of trying to buy promotion this season but what this actually shows is just how much it costs to compete at the top of the Football League's bottom division."The club are at pains to point out that their budget is far from the biggest in the league but they've clearly taken a calculated gamble in assembling a squad capable of making an immediate return to League One. They've invested in a coaching team which stretches far beyond the old stereotype of lower league boss and trusted assistant."Relegation cost a lot - but maintaining investment seems to be about to pay off with the Town well placed for a top-three finish. The club must now ensure that success on the pitch turns into an increase in revenue off it."

After revealing last season's loss to shareholders at an annual general meeting on Thursday, Williams added that the Town board look like being justified in their decision to invest in a new management team and virtually an entire squad of new players to help get the club back up to League One.

"The figures for the 2013-14 season saw the club lose a significant amount of money on relegation," he said. "It dispels the myth that the board did not support Graham Turner and then Mike Jackson last season in the transfer market and players' wages.

"But, thanks to the way the chairman (Roland Wycherley) has run the club, we had the cash reserves to support Micky in the manner in which we have, and we're doing ok.

"People have showed that they don't want to come and watch League Two, but hopefully next year gates will be up.

"And we've had a review of our complimentary ticket process. We were dishing them out like confetti. I don't want to criticise predecessors, but I have put into place some systems that weren't in place. Sometimes you need a fresh pair of eyes."