2002 AGM Recap
KILMARNOCK Football Club, who announced at their
annual meeting further cost-cutting measures are being put in place
in light of a near-£2m
loss
for the operating year 2002.
Off the field....Derek
Porter, the finance director and company secretary, is to step down.
John
Dick feels it is inappropriate to take up his invitation to become a
member of Kilmarnock Football Club Board. As he intends to devote more
time to his family life. while the chief
executive, David Heath, has agreed to a salary reduction.
All staff were informed of the second phase of
restructuring prior to last night's meeting. This means cost cutting
of overhead expenses, and a smaller club staff.
David Heath...(pictured right) "This is not
going to be a small amount, but there is no manager I would rather work
with than Jim Jefferies when it comes to money matters."
Sir John Orr allayed fears of a crisis by
announcing
plans
for a supporters share issue, a youth academy in conjunction with North
Ayrshire Council and Kilmarnock College, while revealing the profitability
of the recently build Park Hotel.
Sir John Orr...(pictured below right)"We
are streamlining every nook and cranny of the club
and, while this process is painful and unpalatable, we are confident we
will be left with a lean and mean organisation, I believe this is a
watershed for Scottish football, but I must stress we are operating within
our agreement with the bank."
Club Ownership...It
was also announced that the Moffat family now own 90% of the club's shares
after departed board members Bill Costley, Brian Sage, and Jim Murdoch
sold their holdings to the wife of the late Jim Moffat Sr, Margie.
Current Television Revenue...Killie
have taken the BBC to task over "inequitable" live coverage.
So far, this season Killie have featured only
once in the terrestrial channel's exclusive broadcasts, accruing a mere
£40,000 for their away fixture against Livingston on August 25. They
picked up a further £60,000 for
hosting Celtic in an SPL match shown on Setanta Sport prior to
the winter shutdown, but have aired their grievance to the BBC in hope of
a fairer deal in the second half of the season.
More of this Needed!
Sir John Orr...."We have the appropriate
representation dealing
with
the matter in the interests of fair play," said the club's chairman,
The lack of television revenue is one of the main
reasons for the club's decision for further reductions in personnel across
the board.
Other Contributing factors....
No incoming transfer fees, No top 6 finish last season, Reduced TV
revenues, falling attendances, & increased squad size.
On the football side of the business....
more players are expected to join
Jose Quitongo,
Ally Mitchell, Gary
McCutcheon,
Samuel Boutal and Robbie Henderson out the
exit door in an effort to reduce the wage bill to around a reported club
goal of 50% of the turnover.
From Our Message Boards
Also Discussed.....
YDT will have a board of 8,
mainly local business people, including our very own YNTTK. Aim is to
raise funds to match the clubs £300k spending on Youth Development. Joint
grant bid to fund Townholm, with East Ayrshire Council and Killie College
should be decided by April.
Board keen to see a Football Trust established to allow supporters a
voice. Get your cheque books out.
Club at possible ways to finance Leisure and Office accommodation
under Moffat Stand.
