Dons ponder third share issue

Last updated : 02 May 2014 By Stand Free Ed

Vice chairman George Yule suggested the move earlier this week at the launch of the Aberdeen FC Community Trust, a charity backed by the club.

The move comes as debt-stricken Aberdeen prepare for a probable place in next year’s Europa League and the Pittodrie club seeks to capitalise on the ‘feelgood factor’ currently surrounding the club.

And Yule called on UEFA to help teams who face financial difficulties by competing in the early stages of the competition.

Aberdeen’s debt stands at around £15 million, with annual losses of over £1.4 million - which Yule insisted would be addressed in the near future.

“We are looking to take the onus away from one or two individuals and spread it around,” the Dons vice-chairman said, adding: “If you have got a successful team it’s much easier to go out and encourage funding.”

Yule said that it can seem like ‘firing money down a black hole’ if clubs are ‘languishing at the bottom’.

He continued: “No business can afford to lose money year on year and it would be naive to think the board is sitting back watching that annual loss.

“There will be definite moves made this year. Down the line a share issue is one of the options available to us, but there’s a lot of work to be done before that.”

Source: The Scotsman