Post by Mango Fan on Apr 10, 2014 7:35:28 GMT 1
news.stv.tv/east-central/2704...ity-ownership/
The board of Livingston Football Club have announced plans to try and move towards being fully owned by the local community.Moves will be made to form a Community Interest Company, which ensures the club's future activities are geared towards the benefit of the town, rather than private shareholders.
Livingston FC posted losses of around £365,000 in the last year, with directors having to inject cash to keep the club operational.
Supporters Direct Scotland (SDS), a government funded agency which has helped other Scottish football clubs towards community ownership, are advising the Championship side on the move.
"We are pleased to confirm that the club has asked SDS to look into and advise on how Livingston FC can become a fully owned community club where all the interested parties in West Lothian, including the council, can play a significant role in building a sustainable community asset," Paul Goodwin, head of Supporters Direct Scotland said.
"We firmly believe that a solid business plan developed with all interested parties through a Community Interest Company can offer the best scope to build the club for future.
"We have been working with the club since October following the unexpected departure of the club’s then CEO and have expressed concerns about the finances of the club.
"The recent audited accounts show a loss in the last year in excess of £360,000 confirming that the club needs a radical change of course.
"The current board at Livingston has invested heavily to save the club following its most recent difficulties and they have to be applauded for doing so.
"We are delighted that they have asked us to help them build a long term solution with the wider community at its heart."
Robert Wilson, vice-chairman of Livingston FC, said: "We believe that Livingston FC is a club with its heart in the West Lothian community and hope that working with West Lothian Council we can provide a bright long term solution."
In abbreviated accounts published for the year ended June 30, 2013, Livingston had net liabilities of £1.75m against fixed assets of £89,849 and other assets of £204,131.
The accounts also show that former chief executive Ged Nixon made a director's advance of £305,516 to the company. Mr Nixon is currently trying to recover the amount in full via the courts.
The board of Livingston Football Club have announced plans to try and move towards being fully owned by the local community.Moves will be made to form a Community Interest Company, which ensures the club's future activities are geared towards the benefit of the town, rather than private shareholders.
Livingston FC posted losses of around £365,000 in the last year, with directors having to inject cash to keep the club operational.
Supporters Direct Scotland (SDS), a government funded agency which has helped other Scottish football clubs towards community ownership, are advising the Championship side on the move.
"We are pleased to confirm that the club has asked SDS to look into and advise on how Livingston FC can become a fully owned community club where all the interested parties in West Lothian, including the council, can play a significant role in building a sustainable community asset," Paul Goodwin, head of Supporters Direct Scotland said.
"We firmly believe that a solid business plan developed with all interested parties through a Community Interest Company can offer the best scope to build the club for future.
"We have been working with the club since October following the unexpected departure of the club’s then CEO and have expressed concerns about the finances of the club.
"The recent audited accounts show a loss in the last year in excess of £360,000 confirming that the club needs a radical change of course.
"The current board at Livingston has invested heavily to save the club following its most recent difficulties and they have to be applauded for doing so.
"We are delighted that they have asked us to help them build a long term solution with the wider community at its heart."
Robert Wilson, vice-chairman of Livingston FC, said: "We believe that Livingston FC is a club with its heart in the West Lothian community and hope that working with West Lothian Council we can provide a bright long term solution."
In abbreviated accounts published for the year ended June 30, 2013, Livingston had net liabilities of £1.75m against fixed assets of £89,849 and other assets of £204,131.
The accounts also show that former chief executive Ged Nixon made a director's advance of £305,516 to the company. Mr Nixon is currently trying to recover the amount in full via the courts.
