Following some ill-founded reports about the club’s financial state, at tonight’s monthly meeting the board have authorised the following statement:

The club is solvent and will continue to be so for the foreseeable future.


Nevertheless we, like almost all other football clubs have experienced a fall in income coupled with an increase in many of our costs. Most families have found themselves with reduced or static incomes and increased bills and the club is no different. Our local area contains some of the highest poverty and unemployment levels in Scotland and business activity has reduced.

How this affects the club can be indicated by the following points:

• over the last two months our total income has been substantially below our expenditure.

• our regular monthly payments excluding wages are £5000

• we have had two home matches in the past eight weeks.

What these points indicate is that the club has to keep a careful eye on our cash flow – we still have the winter period to face and possible shutdowns with no match income. We also have to anticipate future financial needs in the face of dwindling total income and constantly increasing costs.

It is for these reasons that the board took the decision on receipt of the gate share from the Rangers match to invest about two thirds of it (£100,000) in a fixed interest bond which will mature shortly before the end of the season. The remainder has been kept for general running expenses and to allow changes in personnel.

The board’s main aim is to keep the club in business and so far we have managed this but it would be a foolish person who would predict finances to improve significantly over the next few years.

We know that when the team starts to put some wins together under new manager Billy Brown the crowds will start to go up. But they will still be lower than previous seasons. There are no quick fixes and it would be irresponsible of the board to spend money that we think the club will need to ensure we will be solvent next season.

Anything our supporters can do to bring income to the club is welcome. Coming to the games as often as possible; setting up a regular payment to the Goldmine; suggesting to friends and family they could use the club’s function room facilities; mentioning to business people that we have rooms available for meetings, training etc; taking a hospitality package for a family treat such as birthdays; persuading our local small businesses to take an advertising board.

Anything you can do will be welcome. Thank you in advance.

The Board

So... thoughts?

Can't believe they've tied up 100 grand.

No real strengthening in the transfer window then unless the owners splash their own cash.

It's fine securing a long term future, but at the expense of s short term one and possible relegation.

Thanks for reposting this GoF.

Got caught up in phone calls as I was distributing it.

To be honest I'm no great fan of the board but feel they have to be given a little credit here.

I can only imagine running a football club must be like running up a hill backwords sometimes. I feel it's more important that there is a club for our sons and daughters to support than for cash to be spent now for perhaps one season in the first division and then what?

we have all seen what happened to clubs who "lived the dream" - Dundee, Gretna, Rangers and possibly Dunfermline (though not sure what dream they were living!!).

We need to try and find some middle ground of trying to improve the team and not bankrupting the club at the same time. Not easy I'm sure.

If the club don't get rid of the dead wood (that`s the majority of the first team) and invest in a half decent squad then what`s the point?
3rd division football (AGAIN) shit crowds and no-one really giving a fuck about East Fife?
They should eat some humble pie and speak to COWDENBEATH FC!
Shit stadium, shit crowds yet they consistently punch above their weight and seem a well run outfit.
They put us to shame really.

The board's statement makes a lot of the state of the economy, but misses the main point. The club is struggling financially because the football has been dire for months. People (our own people) don't want to pay to see it. Houston, we have a problem.
This also affects hospitality and commercial activity. Who wants to entertain clients or colleagues by taking them along to watch dross? Who wants to be a sponsor or advertiser if being associated with the club isn't attractive?
The board is begging supporters to do all they can to help the club's finances. How about the board makes a modest investment in the FOOTBALL club and give people a reason to want to put their money into a day at Bayview? The only way the club's financial position will improve is by offering a better experience to people than the bleak prospect that every second Saturday currently holds.

I fully understand why the board are putting the Rangers game money aside. The crowds will go up if we can put some wins together but the current set of players are relegation material and we must find funds to strengthen in Jan. How many people contribute towards the managers funds?

Since the rangers game the Board have authorised the signing of 6 players ,5 loanees and pollock.This won't have come cheap but they've seen precious little return for the money.
The current situation has its' roots in the shambolic pre-season and the team the new manager has inherited does not reflect well on what went before.
Given there is no sign of economic recovery,the financial security of the club should be paramount,it shouldn't be beyond the club to achieve this and put a better team on the park.

You can't make it up! The so-called fans who post on here -

"I've stopped going"

"I'm no going back"

etc, etc.......

Who cares aboot what they are doing or going to do? Has anybody else noted how their posts are all about them, poor wee souls? I'm not going back, I've stopped going, my hard-earned cash, I've got better things to do on a Saturday.......

Well, just do it, but don't tell the world, because the world couldn't really care less aboot ye!

The statement does nothing to give the fans the slightest glimmer of hope that they have a board who have have vision and are dynamic enough to drive the club forward from the current state of torpor it's been in for years.

The statement says plenty and says nothing, ending up with the usual plea to the fans for ideas. Change the broken record change the board and get people in who know how to make a go of things.

No wonder the fans are fed up when the quality on the pitch is at the lowest ebb for years and the board plod on with no action plan beyond the end of the season, again.

Jocky aka wullie,

You're a complete bellend.

I like others concerned would love to return to Methil and away to support my team. However every time I tread back I leave with the same view why do I bother? Following the team through the JIM MOFFATS BARMY ARMY I looked forward to every game. I am sure these days will return and hopefully it will be soon with BB. Until I see evidence I unfortunately will not be back. Sorry

S-Pat,Mad man,others,
As before I am making no attempt to defend the current board but what you are asking for is removal of the current board to be replaced by people who "know what they are doing". A small ommission is your suggestion as to where these five or six people with the following qualifications are :
a.East Fife fans or at least with East Fife sympathies
b.Thousands of pounds a year to to feed into club with a major shareholder who has absolutely no interest in the club
c.20-30 hours per week to carry out the running of the club

I can't wait to hear some of the names you have in mind to support your plan.

Maybe get a professional Marketing Manager at £30K ?? plus a full time Administrator to carry out the Directorial roles at £25K.

p.s. another minor detail but if you get rid of the board who selects the new board ? Perhaps an interim board ?

Jocky Jocky give us a wave, Jocky, give us a wave

I take it any idea of a plastic pitch is dead in the water? We would generate money all year round and apart from Kirkland High School there are no other facilities available to play football outside in the winter months.

Perhaps the money generated from the Sevco game should be used towards installing this? No postponed games over winter either.

Not always been a big fan of the board, particularly the lack of information from them. However credit where it's due they look like they have prioritised the club future over immediate success when can only be commended. Putting in 100K in a short term bond looks like good business sense to me, particularly if the money would have sat unspent until needed. Hopefully all of the money won't be required to keep the club ticking over into next season and can be invested in something to benefit the club long term. i.e. not all on new signings. The only problem I can see if if we are relegated this season as the money would surely then be better spent on players to keep us up/ change for the title. A difficult decision to make and the more pragmatic view has understandably been taken by the board.

Hopefully the next piece of information on the direction the club is headed won't be forced out the board by rumours.

Why do the board mention in their statement that the club is situated in an ecomomically deprived area?
I assume they are talking about Levenmouth, however isnt the club called EAST FIFE, which describes a huge area and includes the East Neuk (remember the East Neuk East Fife supporters club??)
If the club was in a richer area, would the club charge more for gate prices? I mean our gate prices are the same as the other teams at our level. Its not as if we are so poor we only pay 50p to get in!!
The attendances are much more linked to the performace of the team...if we were winning we would easily get a lot more punters coming in.

Also...I must mention a team called COWDENBEATH.
They come from a former mining area and have much poorer crowds. However they continually perform better than East Fife. Can the board please explain why this is??????????????????????!!!!!!!!!!