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Club Debt Falls Below 100k

Mon, 21st Jan 2013 11:13pm

Today saw Clyde FC's total debt go below the £100k mark.

This significant milestone comes over eight years since the club agreed a company voluntary arrangement (CVA) and separate debt repayment plan with its landlords North Lanarkshire Council.

Following today's scheduled payment of £4.5k to NLC, £97k remains to be paid to the council, at the agreed fixed schedule which will see Clyde - a wholly supporters' owned club - become completely debt free in November 2014.

Clyde finance director, David Dishon said:-

"We are almost self-sufficient now, operating on a year-by-year surplus to meet our responsibilities and that's something that most clubs in Scotland will be envious of.

"Today is a landmark and a great achievement from where we were. We recognise the work undertaken by supporters of the club and that backing is still needed as the job is not done; we need to continue to work together to ensure that our club can develop.

"It has been tough for everyone associated with the club in recent years, on and off the park. However the end result will be that Clyde survives for future generations- that was not always assured."