Clyde don’t expect stadium finance help

Clyde have unveiled a U-turn on claims that they were to receive a cash boost during lockdown from events at Broadwood Stadium as they examine “material transactions”found in the accounts.

The Bully Wee had previously stated the short-term future of the club was secure following a Scottish Cup clash with Celtic had“masked”the blow of the season shutdown.

They predicted the“best result for many years”and hoped that the club would benefit from activities and events held at their ground. However, this now appears not to be the case.

A statement from the League One side read:“A great deal of work has been undertaken to put the club in a position to be able to understand its current position and make some sort of assessment of what remains a highly uncertain future.

“We have been overwhelmed at the positive backing from supporters in waiving their current season ticket rights and making much needed donations.

“The board has discovered that previous statements made, that the club was able to benefit commercially from activities and events held at the stadium, were found not to be accurate.

“The board has also uncovered material transactions of which they were previously unaware and are taking action regarding these.

“The club requires significant donations every season to put a squad together to perform at a competitive level. We are currently working on the assumption that we will require at least a further £50k of donations to complete the 2020-21 season and not less than £75k for each of the following seasons.

“These amounts are not dissimilar from historic donations received, but they do need to increase to meet the squad costs for a competitive League One side.

“The exact impact on the budget for the forthcoming season is dependent on the multiple directions that the impact of Covid-19 might dictate.”