This includes two keepers, a specialist position that presumably requires a loanee if there is a long term injury.

So 27 outfielders for 10 positions. Very useful if more than 12 players are injured at once and there are only keepers available for loan.

If the 29 players average at least the League 2 norm of £50k per year that's £1.45 million. Other clubs have managed in League 2 with 22 players or less plus their Academy. That's £1.1 million plus £100k to run a Category 4 Academy (Football League Figure) - note this is not the under-16 inclusive Category 3 Academy that has been previously touted.

It looks to me as though we are spending at least £250k to have no Academy instead of a Category 4 one, and we have been seriously duped even about the savings on the level above given that we have simply accumulated a vast and unnecessarily large squad.