Pete Winkelman: MK Dons chairman says club have had 'horrible year'
MK Dons chairman Pete Winkelman says it has been "an absolutely horrible year" for the club but insists he still has work to do before seeking investment.
The League One side named ex-England youth coach Dan Micciche as manager on Tuesday to replace Robbie Neilson.
Winkelman has led the Dons since they were founded in 2004 and says the club has lost him £3m in the past year.
"To be going backwards, it's terrible and it wasn't supposed to happen," he told BBC Look East.
"I'll be honest, I am worried - this is absolutely not where we wanted to be, it's not where we can be."
The Buckinghamshire side are in the third-tier relegation zone, one point from safety, having been in the Championship as recently as the 2015-16 season.
Neilson was the club's first boss since Karl Robinson's six-year reign ended, but the Scot lasted just 13 months in the role.
Micciche's first game in charge is an FA Cup fourth-round tie against Coventry on Saturday.
"I still think there's things I've got to do, because I don't think this club is investment-ready," Winkelman said.
"It's an unwritten story - we've got to keep going until we find that right situation (for investment).
"This has been an absolutely horrible year. We've tried so hard to bounce back into the Championship."
Meanwhile, MK Dons forward Brandon Thomas-Asante has signed a new deal with the club until June 2019.
The 19-year-old academy graduate has yet to make a league start but has come off the bench on 12 occasions.