Dunfermline Athletic

DAFC Board of Directors Statement

Wednesday, 19th Dec 2012

19th December 2012

A STERLING TEAM EFFORT

Following proceeds from a relatively well attended game last weekend and hugely successful fundraising efforts from supporters groups, DAFC has today confirmed that November's outstanding salaries for players and staff are now up to date.

The news comes as the Club confirmed that it had been successful in meeting the latest HMRC deadline with a payment of £50,000 at the beginning of the week.

Gavin Masterton, Director at DAFC commented,
"Our recent cash flow situation is well known and we have never tried to hide the fact that this has been a difficult time financially, but we are working to a plan and are now moving into a better period. As a result of having a home game on Saturday, donations from fans, and some great fund-raising by supporters groups, we have been able to address some of the outstanding issues. None of course is more important than paying our players and staff and I am delighted to say that we will manage to do that by the close of play tomorrow. It means that they can all enjoy Christmas, and I want to pay tribute to each and every one of them because both on and off the park they have all given 100% without question.They are a credit to the Club and to their profession."

Last week, DAFC announced a decision to issue a share option.The move is designed to provide much-needed funds and to stabilise revenue streams - an issue which impacts the majority of football clubs.The first meeting of the working group to develop the project takes place this week and according to DAFC management, initial feedback from the fans has been hugely positive with a number pre-registering interest.

Management at the Club has also initiated a position on the board for a representative from the fans' group.

Gavin Masterton added, "We are going to move ahead with this at a pace because it will help to secure the club's future in more ways than one. Once we have a draft document I intend to give the fans representatives an opportunity - as I promised I would do - to meet with me again and to comment before the share issue becomes public. We have already had a number of notes of interest from fans.

"We feel that with the support of our fans, the expertise of The Purvis Group and the new initiatives underway, including the Share Issue, we will be on a stronger financial footing."

Funds were boosted with a significant uplift in fans attending the match against Hamilton Accademicals FC - around 800 up on the previous year. This, along with an increase in the number of volunteers at the game, helped to cut costs and allow the Club to make a substantial payment towards the £13,000 balance payable to ScottishPower.

The Club would like to say a huge thanks to the initiative of the supporters' groups. Pars Alive raised £6000 for this purpose, the Centenary Club added a further £1000, plus we've received £1600 in individual pledges and all of this has already been paid directly to Scottish Power. This will also allow the Club to move on to a lower tariff with the potential to save upwards of £6,000 a month.

East End Park



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