Notes to Accounts

A consortium of members of the Board of Directors have decided to sell their interests in the club. There are usually one of two main reasons for this.

The first is to try and get some money from their time with the club and move on. The other, which is more usual in other clubs, is that they are desperate to get out after finally realising that they are just pouring more and ore of their own money in and it is time to let someone else to do that.

In the case of St Mirren it is clear that the Board has done a really good job, even before the Tesco/Love Street deal. In the 8 seasons up to 2007 the club made a net profit, an amazing result given the performance of all the other sides in Scotland. That 2008 and 2009 have become years when the club started to make real profits is a great sign that the board have doen well, and deserve a pat on thir back.

It would have been easy for the Board to feel they were rich and to go mad, and slide the club towards employing over paid players, brought in on inflated transfer fees. The wages are too high for the club, but the directors have recognised this to be the case and say theses have been cut for this season.