Glenn: Bosmans Unlikely

Glenn Roeder says it is extremely unlikely that he will be signing any 'Bosman' free transfers - and that the loan market is more likely to be the way he will go as he looks to add to the squad.

"I think overall the 'Bosmans' that you would want to sign, the few that were available, have now been signed up," he explains.

"There are not too many that would interest us. I am more intent now to follow up some promises that have been made by taking players on loan.

"There is no doubt that there are a number of excellent young players needing experience who will be top players in the next few years at the big clubs in England.

"Managers are willing to let them out to clubs like ourselves to gain first team experience, but of course when you take a loan player you really are on a promise to the manager to play that player - otherwise he might as well stay at his own club.

"It is knowing where those players are as and when you need them. You may need to make a phone call in the afternoon and have the player training with you the next day."

Meanwhile, financial director Nick Igoe, looking at the 'price' of relegation, says: "The cost of relegation varies by club but we have estimated the loss to be in the region of £20 million.

"But we have a loyal fan base, and that gives us an immense opportunity here - if we can even match last season's attendances we will be looking at gate revenue well in excess of £10m, and that will be the envy of many clubs in the Nationwide.

"We have been very pleased with the season ticket take up so far; we dropped the prices by about 5% on average and as of now season ticket sales are 17,300.

"Last year, for the season as a whole, we sold just over 20,000. This will be something like the third best year in our history, so we have to be very pleased indeed in that respect.

"Essentially, the obligation on us is to prepare budgets and there is then an obligation to meet those budgets within general terms.

"As long as we meet those pre-agreed facilities, the banks are not going to put pressure on us as regards individuals decisions whatsoever - and they never have done.

"We have a good relationship with the three main banks, but I am always looking at alternative or additional sources of finance.

"We have looked at alternatives such as the bond issues that many clubs have opted for in recent seasons, although at the moment that is not something we have chosen to do.

"I think it is possible that one could borrow extra funds in the short term - but there is a concern that it is more expensive funding and that is why we have resisted it so far.

"As for player sales, it is still necessary for us to make some adjustment, but once we have made that we are no longer under pressure.

"We expect that further players will come through the system as there are many promising players who are a couple of years away from first team football.

"But as always we will make every attempt to keep them - and as long as we balance the books there is no pressure to sell.

"The wage bill will still be high, certainly relative to other Nationwide league clubs and around 50%-55% of turnover, but that is something we can live with in the short term if the focus is on getting back.

"We will clearly be subsidising this to some extent from the player sales that have occurred already but it is not something we could sustain in the long term.

"If we do fail to achieve promotion it is something we will have to look at from year to year, but as players come out of contract it is something that would naturally reduce over time if we do fail to return to the Premiership.

"For the first two seasons in the First Division we will enjoy the benefit of the parachute payment from the Premier League; this year it is in the region of £6.6m.

"We are not exactly clear on next year's figure because the TV contract has not been awarded - but if we remained outside of the Premiership for a third season then we would lose that.

"I think it is inevitable that if we fail to return to the top flight this season there will be some effect on gates - and that will continue as every year goes by, and we would have to adjust to life accordingly.

"As for the overdraft, it is always repayable on demand but I think that is a technicality - I don't think many banks would be likely to seek repayment on demand unless they were gravely concerned about the management of the company and where it is heading.

"Now we have negotiated the £33m loan, which is repayable over 15 years, there is no reason why they would seek to accelerate payment of that unless we were in major default - which we aren't.

"The overdraft facility for the next 12 months has been negotiated and we liaise with our banks just as any company would.

"As long as they are comfortable with our liabilities and we are meeting our budgets there is no pressure on us.

"The debt figure fluctuates considerably. We have a core debt, a long term loan with three banks of £33m which fluctuates - that had gone up in excess of £40m but at the moment it is in the mid thirties."

Regarding the East Stand redevelopment, he says: "In the longer term I think the East Stand is something that is desirable and we would look at that when the time came - but that is probably a minimum of a couple of seasons away at the moment."