Hoyle: It’s time Town stood on their own two feet

Hoyle helped to bankroll Town’s successful League One crusade last term, which saw spending increase to £8.09m on the playing side, with his own contribution rising to £3m.

The latest figures do not include the £8m sale of Jordan Rhodes to Blackburn, but Hoyle has reiterated the need for more work to be done and says the club ‘must stand on its own two feet’.

He said: “Getting the club back on track is a long-term job.

“Lots of hard work and money has been spent on getting us to this point, but the club must stand on its own two feet. We need to start doing things differently.”

The loss, which had been budgeted for according to chief executive Nigel Clibbens, is largely down to one-off promotion bonuses and contract termination costs for the old management team headed by Lee Clark.

Town captain Peter Clarke revealed his debt of gratitude to Clark ahead of his first return to the club tomorrow as manager of Birmingham City.

He said: “I had a good relationship with Lee and he made me captain of the club which I will be eternally grateful to him for.

“People should be thankful he was here for the time he was because he helped grow the club.

“He improved the club year on year and left it in a better position than when he took charge.

“I am sure the fans will have fond memories of Lee’s time here and I hope he will get a decent reception when he takes his seat in the dug-out.

“When he was appointed manager (at Birmingham) I sent him a message wishing him all the best.”

On Clark’s sacking last February, he added: “At the time, a lot of people were a little bit surprised.

“As players, you have to knuckle down, carry on and deal with the situation.

“But I remember when we got promoted and I checked my phone when I got back on the bus and a message from Lee was one of the first texts on my phone.

“He deserves credit because a lot of the boys involved that day were brought together by him.”

Town striker Jimmy Spencer has joined Crawley on loan for the rest of the season.

Championship rivals Crystal Palace have signed Alex Nimely from Manchester City on loan until the end of the season.

The 21-year-old striker is Ian Holloway’s first signing as Eagles boss and goes straight into the squad for tomorrow’s trip to Burnley. Nimely has appeared in one Premier League game for City, against Burnley in 2010, and has had spells on loan with Middlesbrough and Coventry.