The report, ahead of the 110th AGM early in December, reveals a drop in income from £4.8M to £3.5M for the year end to 31 May 2015. The most significant decrease came from broadcasting rights that fell by almost a half from £1.8M to £940K. The payout from the SPFL varies according to league position and the switch from second top in 2013/14 to second bottom in 2014/15 was costly.
Gate receipts fell by only 7% but payouts from UEFA halved from £311K to £161K. The wage bill was reduced significantly (£350K) no doubt due in part to the lack of a chief executive and a spell without a permanent manager.
The change of ownership to Les Hutchison heralded several important developments. The club received loans both long and short term in excess of £1 million and we now have a revised scouting system and sports science support. The business planning and reporting processes have changed and a new web site is under development.
There’s no doubt that the on field performance of the team has a huge impact on the club’s income. Early elimination from cup competitions and a low league finish impose a huge burden on turnover. The importance of player sales can be seen from mention that almost £700k was received over the summer from player training compensation and sell-on clauses (Murphy and Hutchison). That income will appear in next year’s figures.
The first AGM with the club in the hands of Les Hutchison will take place at Fir Park on Monday 7 December. It’s likely that the board will face questions about the club’s financial position.
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