Exeter City Chief Executive resigns

Exeter City chief executive, Guy Wolfenden, has resigned with immediate effect after less than a year at the club.

In a statement Wolfenden said: “I would like to thank everyone at the club for all their hard work over the previous months.

"The young, talented playing squad have great potential and I hope the supporters can get behind Paul Tisdale and his team this year. I wish the Club every success in the future.”

This announcement comes just two weeks after Chairman Edward Chorlton stood down amid financial problems at the club.

Exeter are currently under a transfer embargo imposed by the FA after they were loaned £100,000 by the Football Association in June to help with running costs during the summer months.

Due to reasons such as falling crowds, their financial situation has deteriorated in the last 18 months. Wolfenden’s main priority when he was appointed chief executive was to try and bring more money into the club. But following his resignation, it seems clear that state of the clubs finances are only worsening.

Julian Tagg, the clubs vice-chairman, said: “The club would like to thank Guy for his professionalism in his time with us and we wish him well in his future endeavours.”

With the League Two season starting tomorrow, Tagg went on to say: “With Portsmouth at St James Park tomorrow the club and the team will now focus all their efforts on the coming season.”