WREXHAM are closing their FA Youth Academy at the end of this season in a bid to head off projected losses for the current year of up to £500,000.
Racecourse managing director David Rhodes told shareholders at yesterday's annual meeting that the decision to revert to the School of Excellence set-up common to the majority of Football League clubs would be more cost-effective.
Pointing out that the Academy system was costing Wrexham £300,000 a year, he said: "It's becoming hopelessly expensive and even clubs in the Premier League are feeling disappointed with the quality of players coming through."
The club recorded losses in the year to May 31 of £364,000 and Rhodes added: "If things were not being pared back, we would be looking at a loss this season of between £450,000 and £500,000. It won't be that bad because of the action we are taking."
The decision to withdraw from the Academy also had the backing of manager Denis Smith, who told the meeting: "It's too big for a club of this size and it does not make a lot of financial sense. You might bring two or three lads through if you are lucky and that's a lot of money to spend. I can go out and buy them cheaper."
Shareholder Peter Finchett asked if there was a connection between the resignation of former director Geoff Farrell in June and the club's current financial woes, pointing out that a few months earlier Wrexham had turned down a substantial bid for Darren Ferguson and had given the player a new and enhanced contract.