Evening Telegraph (First Edition)
Derek’s goal is to plug £2 million hole in United’s finances
DEREK Bond has never known a year like it.
But the man with his hands on Dundee United’s purse strings believes that, with the continued support of fans, normal business could soon resume at Tannadice.
The Tangerines’ finance director has had his work cut out trying to balance the books amid the chaos caused by Covid-19.
The loss of more than £2 million in revenue has made it an impossible task.
Pay cuts have been required at Tannadice – as they have at other clubs – and finding alternative income streams has required a creative approach.
The latest – a campaign to virtually sell out Tannadice for Sunday’s clash with Celtic – has been embraced by loyal United supporters.
And Bond insists continued financial backing from fans will be essential in helping the club emerge into the new normal on the front foot.
“If I go back to when lockdown started last March, it was obviously serious looking forward,” he said.
“The loss in terms of revenue has been over £2 million out of the budget that we set. How do you cover that halfway through a season?
“With players and staff we’ve gone through a process where people have agreed to take wage cuts, right throughout the whole club, which is fantastic.
“But, at the end of the day, there’s still a substantial amount of money needing to be put into the club by the owner, which he has been doing.
“On top of that, the fans have been brilliant in terms of the support they’ve given, both financially and in terms of some of the campaigns we’ve run.”
More than 5,000 United fans have already put their hands in their pockets in support of a club campaign to virtually sell out Tannadice for this weekend’s match against Celtic.
It was a plan that came to fruition after a supporters’ group took it to the club, which had been thinking along similar lines.
For Bond, who revealed it could raise a six-figure sum, the plan is proof the close relationship fostered by the current ownership between club and fans is working well.
“We have been looking at any way of bringing incremental revenue into the club to help us through the situation,” he explained.
“The fans groups have been active in that.
“We have regular Zoom chats with our fans groups and, as well as asking things of us, they’re asking what they can do to help and firing suggestions at us.
“In gross terms, if you’re looking at selling out the stadium, at a minimum of £5 a ticket, it’s more than £100,000 we could potentially make if we’re successful with this campaign, which is a huge amount of money, obviously.
“If we don’t hit 14,000 it’s not the end of the world but I’m sure we’ll get close to it – and the money’s going to help the club enormously.”
Going forward, more money will be required.
At this time of year, cash is normally raised through season ticket sales.
Renewals will be sought over the coming weeks, chiefly incentivised by the prospect for holders of being the first people to return to Tannadice should restrictions, as is hoped, be lifted.
But Bond admits United will be looking for a big favour from supporters who have already stumped