Stenhousemuir chairman Bill Darroch stepped down today as the Ochilview club revealed it was facing a “particularly challenging” financial environment.
A lack of transfer fees received and no additional gate revenue from a Scottish Cup run this season has been blamed for severely stretching the Warriors’ coffers.
Cut-backs in the club’s current expenditure appear likely, however Heraldsport understands that the club does not face any prospect of entering administration.
Attendances at Ochilview have plunged this season as the team has slipped to 8th in League One under manager Scott Booth. Directors hope that more fans will return to support the club as it battles to avoid the play-off places.
In a bombshell statement likely to alarm Stenny fans, the club revealed that “the next few months will not be easy.”
Booth is likely to hold talks with the board tomorrow to discuss how his playing budget may be affected.
“Decisions will need to be taken for financial reasons alone,” the statement continued. “However, tightening our belts today will ensure that we have a stronger footing tomorrow.
“In order to ensure that the financial plan is managed effectively, the board has identified a way to restructure so that its resources are applied more effectively.
“There are different strengths amongst members of the board and it is important that those with solid business experience are leading the Club through its difficult financial period.
“To enable this change, Bill Darroch offered to stand down as chairman to allow Gordon Thompson to take up the role and guide the club through this next phase.
“Gordon Thompson has therefore been elected as chairman with David Reid elected as vice-chairman. Bill will continue to serve on the board and the club would like to place on record its appreciation to Bill for his service.
“While we may not have the largest of fan bases locally, we do have a network of supporters across the UK and into other parts of the world, and we do have a lot of goodwill locally, beyond the traditional fan base, that we need to utilise more for the benefit of the football club.”