Leish speaks to Supporters Trust

Meeting Pars Supporters Trust and supporters groups held at East End Park on Wednesday evening, 6th March 2013

Addressing an audience of 35 in the Kingdom Suite, Jim Leishman said that last Saturday "put a seal on it". On Monday Gavin Masterton, Tracey Martin and Karen Masterton tendered their resignations from the Board.

Jim said that since Monday all the monies due by the Club have been becoming evident. Re-stressing the urgency of the situation Jim said he needed everybody's assistance to stave off liquidation. He agreed with an observation that even though there were several factions but that they were all working to the same objective and that was to save the Club.

Any money raised will go to DAFC and Jim said that if it went anywhere else he was out.
£134,000 is due to HMRC.
£12,000 to players
£23,000 to staff
It was uncertain how much money is required to clear the short term debt.
Stephen Taylor described a vacuum created with the departure of Chief Executive last year and that had made it difficult to quantify trade creditors.

Jim claimed that everybody working together was the only hope. He stressed that would include every fan and there would be 100% transparency.

There would be a meeting on Thursday morning with The Pars Community (TPC) , Jim described this as a "huge" meeting.

Stephen felt that the fans objections were to Mr Masterton's stance. Share issue would give 25% ownership to the fans but there was a desired strategy to get to the stage where the Club was entirely supporter owned and supporter run. Stephen said that going forward the business model required to be radically changed. He claimed that this was a journey that would start with meeting with TPC, source more investment and eventually end with an exit strategy for Mr Masterton.

Rodney Shearer as longest serving director rhetorically asked how was this position allowed to happen. Jim said that was further down the line, there was not enough time to consider that right now. Priority had to be finding money to make a payment to HMRC by Friday.

Potential source of funds were outlined:-
Pitreavie funding has been held up for some time at Fife Council.
Potential sponsor has been sourced by Purvis Group
Share issue - hopefully on Friday 9th March

Areas of cost need to be stripped out said Stephen who added that the profile of the squad would need to get closer to the look of Falkirk FC.

Stephen has looked at the finances and budgeted for the way ahead. £200,000 per month is currently required to run the Club and just how sustainable it would be going forward would depend upon, for example, improving performance of the commercial side.

Things are not happening as quickly as everybody would like. Jim Leishman said that the Carnegie Hall has been booked for 7.00 pm on Monday 11th March to communicate all the issues and progress. This could be an extremely important night in securing the future of the Club. The Steering Group will organise buckets for collections and volunteers to help collecting should contact wobraisby@braisbyroofing.co.uk  

Jim Leishman added that the home match against Falkirk might be brought forward to Wednesday 27th March to assist Dunfermline's income stream and Falkirk's preparation for the William Hill Scottish Cup semi final. He stressed however that the Club had to get to that date in the first instance!