Clyde Footbal Club
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Official Online Home of The Bully Wee

Club Statement - Financial Position

Tue, 12th May 2009 10:00am

The recently reported financial difficulties of the club have not gone away. Much of the budget deficit for the season remains and confirmation of relegation last week added to the financial woes.

The club has been in discussion with players and other stakeholders to avert an extension of the financial crisis. The positive outcome of recent talks with the stadium landlord gave the club time to finish the season in an orderly manner at a time when limited prospects of staying in the First Division remained, now that the season has ended and relegation has been confirmed the club requires to readjust its cost base to survive in the Second Division.
 
This morning, the players were all asked to attend a meeting at the stadium where they were brought up to date with the current position, the manager was similarly briefed by directors on Monday. During these discussions, the club revealed that all contracts would require to be reviewed or ended to allow the club to restructure for next season at a fraction of current levels.
 
Efforts continue in the business community and elsewhere to find additional backing for next season, but following a disappointing season on the park and the effects of the economic downturn off the park the board has had to acknowledge that the prospects of finding adequate additional funding to maintain the current squad are very low, in the absence of any significant support then the cost base of the club has to be reduced.
 
The next few weeks will be an uncertain time for Clyde and all involved around the club would like to thank everyone that has contributed to the Back the Bully Wee campaign to date. We would ask that everyone keeps the momentum going and do what you can to help us pull through.   
 
The website will carry further news when it is possible to do so but in the meantime the club is unable to make further comment whilst commercial and personal negotiations are in progress.