We have always said that there can never be a second “Save The Jags” campaign but, regrettably, we seem to be again facing oblivion and in need of rescuing.
Although the immediate, and huge, problems need to be addressed, there are questions that have to be asked, and answered, about how this situation came about.
The extraordinary good fortune of a decent and genuine man, offered Thistle a bright future off the park, with the consequent potential to develop on the field of play.
Instead we find ourselves learning that only loans from directors and a favourable draw in the Scottish Cup, got us to the end of a season which, miraculously, almost took us back into the Premiership.
The crushing disappointment of losing out on promotion has now been followed by the revelations that, once again, our very existence is in doubt.
In a way, some of this was “old news” to shareholders, The Jags Trust and The Jags Foundation office bearers attending the November 2022 Club AGM.
The accounts which were presented by the then Club Board and Accountants were vigorously and vociferously questioned by those present.
The answers from the top table, Club accountants; Club CEO; Club Chairperson and Club Directors, to the questions put from the floor were unsatisfactory and they appeared uncomfortable when faced with this robust scrutiny.
It was unheard of that the football club’s business section of the AGM to ever last more than a few minutes. In fact, the meeting took over 90 minutes due to the probing of those shareholders/supporters present seeking to confirm that their club was on a financially stable footing.
Whatever funds the then Club Directors expected to “maybe/probably come in” clearly did not materialise and we now face a £280K deficit. One which would have been even more had losses not been offset against some good fortune – but you don’t run businesses by relying on good fortune!
Let me paraphrase the final question asked from floor “If there are so many accountants on the Club Board how could you not see the hole in the finances and let this happen”. The question went unanswered and the meeting was closed.
Subsequently, less than two weeks after AGM, seven of the eight directors resigned!
The Club Statement of 7 June 2023 clearly highlights the hole in the accounts and the massive implications it will have on our ambitions and perhaps our very survival.
We are all well aware of the cost of living pressure on all our back pockets and this situation, plus the gap in the club’s finances does not provide a stable footing for Partick Thistle.
All football clubs, and particularly those in Fan Ownership, rely on a break-even budget or a generous benefactor.
We had that generous benefactor, indeed more generous than we could have dreamt of. So how this situation came about is a matter which needs to be probed and answers sought by way of a forensic audit of club finances and a clarity about the terms of Colin Weir’s bequest.
What, sadly, is already crystal clear is the fact that we are unlikely to be able to offer terms to players of the calibre required to mount another challenge and that Kris Doolan has been sold a hospital pass!
The club legend surpassed all expectations as he galvanised the team and took us to the very brink of the promised land. It now seems that, had we overcome that final hurdle, even that might have been insufficient to stabilise finances at Firhill.
If, as many of us fear, we are unable to assemble or retain a competitive squad for 23-24, we must avoid turning against Kris and his management team when results go against us.
Justifiable fury will be generated in the fan base, but it needs to be directed at the right targets – and it needs to be secondary to doing everything we can to sustain our club.
The Jags Trust thanks all our members for their continued support through the payment of their small annual membership fee and the purchasing of red and yellow goods advertised on the website.
We remind you that it is never too late to join or renew your membership. The form is available on the website www.thejagstrust.com or pay by BACS transfer to:
Partick Thistle Supporters Association t/a The Jags Trust
Sort code: 80-83-88 Account Number: 00665537
Season 2023-24 will be tough for us all, but your support of The Team on the park is the priority for The Jags Trust membership.
The Jags Trust, before and since Covid, has been part of the Working Group with other Thistle supporters’ groups, including The Jags Foundation and representatives of the majority shareholders PTFC Trust. The goal was Fan Ownership for Partick Thistle, supporters being the majority shareholder in the company.
That Working Group must reconvene, with the information now available in the public domain, and refocus on our efforts to secure the future of the football club.