A Statement from Stenhousemuir FC
The Board would like to respond to questions from fans regarding the Club finances.
As previously indicated at the Club’s Annual General Meeting in November, financially, this year is proving to be particularly challenging. However, Stenhousemuir FC continues to be able to meet its financial liabilities.
In the current financial climate, businesses continue to suffer – football clubs are not immune from this situation. In previous years, we have secured additional revenues through transfer fees, cup money from all three competitions, and through league matches with significantly increased attendances. This year however, we have not been able to draw on any of these sources of revenue.
This has put a strain on the Club’s finances.
To this end, the Board has been working over the past few months to ensure that the Club is protected and prepared for a difficult financial period.
One of the first actions undertaken was to have the Club’s finances independently reviewed. At the same time, the Board has been developing a financial plan that looks at ways to increase revenue, whilst reducing costs where possible.
Although the new financial plan is still being developed and will require further input from staff at the Club, the Board is confident that a realistic and suitable plan is emerging. This is a financial structure that will be wholly viable and will ensure that the Club is able to continue meeting its financial liabilities for the remainder of the season, and then go forward with a sustainable budget for next season.
However, in order for the financial plan to succeed, we will need the continued support from everyone connected to Stenhousemuir FC. This includes the members of the Board, as well as the Supporters Trust, staff, coaches and fans. Everyone has an important role to play.
The next few months will not be easy. Decisions will need to be taken for financial reasons alone. However, tightening our belts today will ensure that we have a stronger footing tomorrow.
In order to ensure that the financial plan is managed effectively, the Board has identified a way to restructure so that its resources are applied more effectively. There are different strengths amongst members of the Board and it is important that those with solid business experience are leading the Club through its difficult financial period.
To enable this change, Bill Darroch offered to stand down as Chairman to allow Gordon Thompson (Vice-Chairman) to take up the role as Chairman and guide the Club through this next phase. Gordon Thompson has therefore been elected as Chairman with David Reid elected as Vice-Chairman. Bill will continue to serve on the Board and the Club would like to place on record its appreciation to Bill for his service, not only as Chairman, but as a Board member and representative of our Club for many years.
As many fans will appreciate, Stenhousemuir FC is a forward thinking Club that has a wide offering that includes professional football, community and youth opportunities, as well as commercial and business opportunities. This is a real strength and we are fortunate that with some additional hard work, we have the opportunity to increase revenue from many different areas within the Club structure. Whilst we may not have the largest of fan bases locally, we do have a network of supporters across the UK and into other parts of the world, and we do have a lot of goodwill locally, beyond the traditional fan base, that we need to utilise more for the benefit of the football club.
In terms of first team football, this is the main reason we exist and will therefore always be our main priority. The first half of the season has been disappointing, we are all aware of that. Our position towards the bottom of the table gives each and every one of us cause for concern. We also appreciate that poor performance is a demotivating factor for all of us who have been fans of the Club for many years.
However, it is times like these where we need to show our ‘Warrior’ spirit and demonstrate our support for the team. We need to give the management and players the confidence they need to go out and win games. There is still a long way to go until the end of the season, and a lot of points to be won.
We need our fans to keep supporting the Club at our home games, through our fundraising efforts, and by helping out where possible.
Whilst there may be difficult times ahead, both on and off the pitch, we remain confident that if we all pull together, we will be able to overcome all the challenges and continue the positive legacy of our football club.