Relegation from the Football League to the Conference was understandably a blow to Grimsby fans. The club has not been in the top division since 1948, but it is not so long since they were in what is now the Championship and they have generally been regarded as serious contenders in the Football League. However, the club has had seven managers in nine years and there has been a rapid turnover of players with an inevitable use of loan signings.
Relegation from the Football League to the Conference was understandably a blow to Grimsby fans. The club has not been in the top division since 1948, but it is not so long since they were in what is now the Championship and they have generally been regarded as serious contenders in the Football League. However, the club has had seven managers in nine years and there has been a rapid turnover of players with an inevitable use of loan signings.
Grimsby have never been in administration, but the Mariners were hit had by the ITV Digital collapse in 2002. The club was forced to offload players and subsequently plunged from the second tier to the fourth in two seasons. The club does have an overdraft believed to be about £500,000 and £2m in loans owned to directors.
However, the directors have not walked away from the club. New director Mike Parker has provided the funds for eight new players. Key directors have set aside funds to support the playing budget and the club is well-financed and well-structed. However, as other relegated Football League clubs have found, getting out of the Conference is a challenge with only one automatic promotion place and teams like Crawley Town splashing out on new signings.