NEWPORT County AFC manager Michael Flynn believes this season’s FA Cup run may have “saved the club” after the Exiles’ financial accounts revealed a loss of more than £350,000 during the 2016-2017 campaign.

County's loss of £351,456 was for the financial year ending June 2017, a period that saw two managers depart and a total of 36 players signed on permanent or loan deals.

It compared with a profit of £339,522 for the previous year, when they also finished 22nd in League Two.

"During the year 2016-17 season the club experienced poor performances both on and off the field," said the club.

But this season’s run to the fourth round of the FA Cup, which saw the Exiles earn a replay against Premier League Tottenham Hotspur at Wembley, means the board anticipates that the "club will make a profit for the coming financial period.”

Flynn says the money made from the cup matches has gone a long way to safeguarding the financial future of the club and he questioned whether the club could have afforded promotion to League One this season.

“The cup run might have been the best thing that happened to this club,” said the Exiles boss.

“If we didn't have the cup run and went up, costs go up, could we afford it? I doubt we could.

“Maybe the best thing to happen with amount of losses we had was the FA Cup run.

“That goal from Shawn McCoulsky against Leeds was priceless. It allowed us to draw Tottenham and save the club.

“That’s what it comes to when you’re losing that amount of money with no big benefactor.

“The supporters do what they can but it’s not enough to sustain the amount of losses that we’ve had.

“It’s huge. The FA Cup run was worth more to the club than promotion would have been, especially in the middle of next season when wages have gone up and costs have gone up and you don’t have a good cup run and crowds go down because you’re struggling.”

South Wales Argus:

The club added that “strict budgets” will be in place for the 2018-2019 season “with a view to reducing unnecessary costs and increasing revenue streams.”

And Flynn accepts that he will be working within tight constraints.

“Budgets are already strict,” said the manager. “It’s a League Two football club and most are losing money hand over fist. I think it shows that you need investment.

“I’m not sure exactly [what money is available to strengthen the squad]. I’ve sat down with the board and talked about the budget and they are very supportive.

“They will do what we can but if it’s not there then we can’t do it and I understand that.

“It’s common sense economics – you can’t have what’s not there.

“And, while we all want that little bit extra, we need to put the financial security of the club first. I’ll always do that.”