WEYMOUTH were more than a quarter of a million pounds better off in the 2022/23 financial year compared to the previous 12 months, the Terras have confirmed.

Accounts seen at the club’s AGM, and approved by shareholders, show arrears of £35,561 compared to the whopping £291,111 seen in 2021/22.

Chairman Paul Maitland has previously gone on the record as saying Weymouth’s complete financial recovery could take "three years".

However, fewer than two into the resuscitation process, the Terras appear well on course to be back in the black and achieve “further progression” when the next set of accounts are released.

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Maitland added the huge reduction in arrears was “testament to lots of hard work” from directors and supporters, which included the help of donations, share-buying and more.

He thanked supporters for stepping up in the club’s hour of need and is “quietly confident” the Terras are on the right trajectory, while stressing the importance of sustaining and growing the club’s fundraising initiatives such as the Oily Rag Club.

What else happened?

ELSEWHERE, vice-chairman Simon Etherington revealed the Terras are in negotiations to purchase areas of the car park currently owned by Lovell Homes.

These regions of the parking space are seen as critical to the club’s long-term stability.

Should negotiations progress, Lovell Homes would be amenable to staged payment over an agreed timescale of eight to 10 years.

Should the Terras complete the purchase, right of way through the car park to the speedway track behind the GMS stand would be necessary.

Weymouth would cover the payments thanks to expected operating profit.

Elsewhere, Maitland and fellow director Ralph Ricardo sought re-election to the club’s board and were granted new terms after a shareholder vote.

Shareholders will also be summoned to an EGM later this year.

It comes after a tweak of the proposed special resolution to increase any individual’s maximum shareholding from 15 to 20 per cent.

The EGM will be called once the amendment is ratified by The FA.

Maitland later addressed the issue of the National League streaming platform, having attended the National League AGM at Chesterfield last month.

Only a handful of clubs in each of the three divisions make money from the platform, which has been scaled back to cover only selected games.

National League officials will rethink the funding of the programme and costs involved, while looking at additional revenues to support the streaming of league games.

No timeline was given for the rethink, with club chairpersons perplexed that a more detailed plan to address costings and generate funding had not been executed ahead of the platform’s launch.

Moving on to other areas of business, Maitland and Etherington were quizzed on their long-term future with both pledging to stay at the club.

The quality of Weymouth’s playing surface, despite the inclement weather this season, was also noted.

Weymouth’s community initiatives were also explained in more detail by the Supporters’ Association and Andy Yates.

Director Steve Walkinshaw revealed progress on the disabled stand was low on the Terras’ list of renovations this summer.

Finally, fans were urged to buy tickets well in advance of Easter Monday’s derby with Yeovil, the board will look at ways of exploiting the Euros to generate extra money and Maitland insisted ticket prices would not drop next season.