The news comes as a result of a turbulent cricket season where gate receipts fell and squad costs grew and represents another year of deficit for the club.
The cricket season proved a turbulent one in the midst of a recession and Glos lost out with gate receipts 23% lower than 2008. This despite a Friends Provident quarter-final match and the marketing department's gladiator-themed efforts.
Naturally the recession would have impacted upon ticket sales but the club's disastrous Twenty20 campaign would certainly have turned many a punter away - reflected in very poor crowds for the games against Northamptonshire and Glamorgan, the latter being played on the supposedly popular Sunday slot.
Another interesting budget shortfall was £48,000 on membership. The club declared sales were higher than expected when the news of John Bracewell's return was made permanent so how can that spurt disastrously tail off into lower-than-expected membership sales?
One can forgive excess player expenditure because the money was wisely spent: tying Franklin down for the whole season and signing promising youngsters Gemaal Hussain and Rob Woodman. But another season's loss has seen the playing staff cut to minimal levels - the depth that everyone craves for simply isn't available because of finance and Jon Batty will almost certainly be the only close season acquisition.
With a more spectator friendly fixture list for 2010, the club is hoping to return to surplus, something which Honoury Treasurer Roger Cooke described as "imperative". 2010 will also see the club itself profit from a benefit year.
Chairman John Light has declared the ground redevelopment will not be affected, saying : "Every avenue is being vigorously explored" to fund the £10million scheme. Light suggested residential housing is being considered, the first time that idea has been presented but perhaps a necessary exercise after the initial plans for student accommodation had to be scaled down.
Light also enforced how reliant counties are on ECB handouts by saying the return of cricket to terrestrial television "would be a disaster". Gloucestershire will certainly be hoping the Sky money remains as they seek to turn round the club's financial situation but the future survival of county cricket has to lie away from handouts.