Newport County have been told that millionaire chairman Les Scadding is to cut his funding within the club from next season.

The Exiles, who are currently 6th in League Two, are believed to be currently working a playing budget of £1.4 million a year. This is thought to be being cut to £900,000 a year after the expected clear-out of high-earning players this summer.

Scadding, who won a EuroMillions jackpot in 2009, already covers County’s monthly deficit of between £30,000 and £40,000 but is thought to want the club to become self-sustainable.

Scadding’s decision is thought to be a major factor behind former manager Justin Edinburgh’s move to League One Gillingham on Saturday.

Newport director Howard Greenhaf told BBC Wales Sport:

“It might have had a bearing on it [Edinburgh leaving],” but also reassured fans that: “It’s business as usual. We are doing well and have aspirations to be in the play-offs so we’re looking to take the next step. There’s nothing to worry about at the County.” 

It has also been announced that Edinburgh’s former assistant Jimmy Dack will take charge of the team until at least the end of the season.

 


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