Berwick Rangers set to record ‘significant losses’ at AGM
Berwick Rangers have revealed they expect to announce ‘significant losses’ when they hold their annual general meeting in the New Year.
In a statement issued by the club they claim the knock-on effects of losing their SPFL status at the end of last season means ‘tough decisions’ may have to be made by Directors to guarantee the long-term future of the Borderers.
After more than 60 years as the only English team playing in the Scottish League, Berwick were relegated to the Lowland League and with diminished income and an early exit from the Scottish Cup, another tough year is expected financially and expectations may need to be ‘adjusted accordingly.’
Chairman John Bell has extended an invitation to any group or individual willing to invest in the Football Club to get in contact, with any credible options being put before the shareholders at the AGM on January 6.
“The current Board is making huge efforts to halt the slide of recent years” said Bell, “but with relegation bringing declining league subsidy, gate money, advertising and hospitality, it’s only right that we seek to explore every option for securing the future of Berwick Rangers.
“One area where we achieved significant improvement was in shirt sponsorship, and we’re very grateful to the three businesses who stepped forward.
“I said in August that we needed the support of fans and the local business community to stabilise the Club’s finances, and having made an early exit from the Scottish Cup, we know this is going to be another very tough year.
“I would ask any party who feels that they can contribute to the future of the Club to get in touch before December 7.
“Guaranteeing that we have a Club to support in future years may require tough decisions to be made in the New Year, and expectations adjusted accordingly.”
The largest shareholder, the Supporters Club, announced last month they were willing to listen to offers for their stake in Berwick Rangers, and the Supporters Trust, which is the second-largest shareholder is also open to new ideas.
Berwick currently sit 12th in the Lowland League table with 12 points from 13 games. On Saturday they lost 3-1 to East Stirling, who went second in the table and this weekend they take on Glasgoiw BSC at Shielfield.