Falkirk FC: Bairns supporters warned that 'club could go part-time next season' without promotion and greater fans' backing' after club AGM
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A club AGM last Thursday night revealed that Falkirk – currently involved in a neck and neck title battle with Hamilton Accies – saw turnover rise 114% from £1.28m in 2021/22 to £2.74m in 2022/23, with total losses down by 91% from £1.16m in 2021/22 to £107k in 2022/23.
CEO Jamie Swinney revealed that commercial performance last season was the third highest in a decade, with a net profit of over £400k. Both sponsorship and retail income reached 10-year highs last term, with both expected to grow again this year.
But attendees also heard that the club needed an extra £400,000 per annum to become sustainably successful.
A post AGM club statement read: “The club is in a much better place than it was 12 months ago. Improving financial performance by over £1m stabilises the club in the short-term but the fact that such a large improvement still resulted in a loss, highlights the precarious nature of the business.
"Higher cash reserves enabled us to remain full-time for another season, but this isn’t sustainable in League One.
"We’ve invested in the playing squad and are confident we can win promotion to the Championship.
"However, unless the business plan significantly exceeds budget this year – which realistically can only come from another cup run – those cash reserves will simply cover the projected operating loss and we’ll be back at square one again next season, irrespective if which league we are in.
"In either scenario the only way to achieve our objectives is to increase the fan-funded element of the football budget in time for next season.
"This will require considerably more fans to participate and a clear indication of their intent to do so by the end of this year.
"Supporters should be reassured that the club now has the ability to be run within its means.
"However, without an uplift in fan-funding this possibly means becoming part-time or hybrid next season, if still in League One, or having a Championship football budget which isn’t significantly larger than it is this season.”