Cod Almighty | Diary

Existence precedes essence

16 October 2026

Football's existential problems have been front and centre this week with the report from the Independent Football Regulator telling us what we already knew, that the majority of English football teeters at a financial precipice despite record financial turnover. English professional football clubs generate £9bn, yet 94% operate at a loss, and two-thirds of clubs are technically insolvent, i.e. liabilities exceed asset value.

Like so many banks of mum and dad, football clubs across England are a home away from home, run for the benefit of those who will only ever take it for granted. Well-sheltered, well-stocked, well-managed and on the other end of a phone when we call for help.

Town are included in this. Our owners bankroll our existence. Thanks for that. But we already know what can happen with less benign bosses and there are examples much worse than our own. Rejoice: we're not as badly off as some. Seventeen clubs would still make a loss even if their players played for free and nearly a third of all clubs in England report that they would go bust in just 30 days without extra funding.

All of this in the same week that Wrexham fans turn on boss Phil Parkinson. Yes, I know, we're all bored of hearing about the North Wales outfit's narrative, but they do provide a convenient measure. The club, despite increasing turnover by umpteen percent, reported losses of £15m last year. Sacking managers will only add to the need for owner-funded support. See also, Birmingham City. The Blues reported a £35m loss and a £39m wage bill.

Is it all down to wages? The earlier example of 17 clubs says not. The assumption that all of the money that trickles down to the EFL goes on player wages says it is. Even Arsenal, with revenues of £800m, only claim to break even and are planning to cut jobs, announcing the cull of 60 positions at the same time as Arteta signs his new £25m salary. The club have around 800 staff and the 60 losses will save around £6m each year.

So, when we make our loud and near-constant complaints about the state of the performances and results – not judging; your A46 Diary is very much included in that – we should try to remember that the vast majority of a football club's operations are off the pitch, either matchday or training, and that what we get is in itself a weekly minor miracle.

Perhaps the answer is to allow the elite to be what they believe they should be and send them on their merry way to a European Super League, sans FA Cup, sans League Cup, sans Merseyside derbies. The rest of us can just start again with an invitational four divisions of 'new' clubs all starting with a clean slate and an EFL trophy restored to its shiny glory.

In another less existential and more current chapter of the GTFC story, Tronde Arge, Faroe Islands national team commentator, gave his thoughts on the ever-expanding abilities and influences of Geza Turi. In a very friendly interview with Humberside, he tells us how Turi is now regarded as the most senior central midfielder, is a 'little bit of a leader' and that Grimsby's fishing heritage means we were already on their radar and Turi shirts are very popular including with Arge himself. Cosy thoughts to keep us warm on the next international break.

Artell refused to say this week's sessions have been a 'reset' for the players and then went on to say that they've been reset in the way they're expected to play the game. No one is back from injury. Everyone is expected to contribute with goals. He enjoyed his injury-curtailed time at Sixfields.

Northampton tomorrow. Chris Doig is baby manager Chris Hogg's assistant. As one of the architects of the class of '22, he'll be given a warm welcome, I'm sure. The current team could perhaps do with one of McAtee's Doigy chats to get a bit of oomph back into their systems. Given the Cobblers start to the season, however, our former highland monster of the player chat already has his work cut out for him oomph-wise.

All of this means that we have another, yet another, 'should win' game against a side second-bottom of the table. They have just one win in eight and only four goals scored. Sigh. Again. We will, however, arrive full of a hope, a hope tinged with bitterness, but still a hope, that we might be what we want to be. We will arrive and we will sit in our well-sheltered seats and that tiny fraction of the club's operations, the Saturday afternoon game, will be our joy and our pain. And we will take it for granted because it feels like home.