EVERY SCOTS CLUB MAY GO
FROM BACK PAGE if there is no football between now and the new season.
Cormack said: “It’s important we all waken up. I don’t believe there is any club in Scotland – and I mean any club in Scotland – that can survive six to nine months of this.
“And I don’t wish to be scaremongering but we are budgeting for this to be fully three to six months.”
Hearts have already asked their staff to take deferred 50 per cent wage cuts while the likes of Partick Thistle and Raith have gone to their fans to try to bring in muchneeded additional funds.
Cormack knows that others clubs are in a far more precarious position.
The Reds chairman said: “I’ve had calls, emails, texts from the great and good of Scottish football thanking me for putting this out.”
Cormack has admitted Aberdeen have around £1.5m in the bank but are on course to lose £1.2m a month and on top of that could lose £1m in gate receipts and potentially £5m from possible season ticket sales.
He said: “What we do know is that we are facing a collapse of income that is going to be almost impossible to sustain for a prolonged period.
“Three weeks ago we were in a healthy financial position – free of external debt with £1.5m in the bank.
“We had expected income of about £1m from four home league games and the Scottish Cup semi-final and, potentially, £5m in season-ticket sales, seasonal hospitality and new shirt sales coming in through mid-July.
“Our monthly running costs are about £1.2m and it’s only prudent to assume that, realistically, there will be no football until July perhaps, at the earliest.”
Cormack has already brought in more than £14m in new investment since he returned to the club.
That has helped the club build their Cormack training facility and the recent link up with Atlanta United has also put Aberdeen in a better financial position than most other Scottish clubs.
Cormack hopes to try to plug the pending financial hole in the Dons’ account with new investment but if that does happen then they may have to look at saving on the wage front.
He said: “During this period we are facing £5m in outgoings with no expected income.
“No matches are planned and we have no idea when a new season starts, never mind the current season ending, and it is highly unlikely there will be any player sales in the summer.
“This situation is clearly unsustainable. No club, whatever their size, can withstand a total lack of income over a period of anything between three to six months.
“We are doing everything we can to mitigate this over the next few months and protect our hard-working, dedicated and loyal workforce and all those who depend on the club.”
Meanwhile, SFA chief exec Ian Maxwell – who hopes football will qualify for Government aid over staff wages – has warned clubs not to train.
He said: “I would urge our members, and especially our Affiliated National Associations responsible for grassroots football, to ensure clubs observe social distancing guidance.
“While many of the instances have been anecdotal, I have seen it for myself this weekend. Please stop it.”