TITLE

YORKSTON RUBBISHES TALK OF PARS DOOM

AUTHOR(S)
BRIAN MARJORIBANKS
PUB. DATE
October 2012
SOURCE
Daily Mail;10/27/2012, p112
SOURCE TYPE
Newspaper
DOC. TYPE
Article
ABSTRACT
DUNFERMLINE chairman John Yorkston last night rejected claims the East End Park club are on the verge of administration. Fears were sparked after seven directors, including club legend Jim Leishman, stepped down from the board on Thursday. In addition to the former Pars manager, vice-chairman Rodney Shearer, chief executive Bill Hodgins, Kip McBay, Steve Curtis, Iain Jones and Craig McWhirter all departed the First Division outfit after losing their battle to have a greater say in the way the club is run. It is understood the seven directors were involved in a failed bid to buy the Pars from major shareholder, Gavin Masterton. The retired Bank of Scotland executive's Charlestown Holding vehicle, which owns the club and also has document-storage interests and property, made a near �4.2million pre-tax loss and was �35.2m in debt according to its most recent set of accounts. Dunfermline's accounts for the same period show a loss of �431,621. This week's boardroom turmoil has left Masterton, as well as Karen Masterton, Tracey Martin and chairman Yorkston as the four remaining directors. It's a situation that has heightened supporters' fears, despite the team performing well on the park under manager Jim Jefferies and sitting just two points off league pacesetters Partick Thistle ahead of today's visit of neighbouring Cowdenbeath. Last season, when the Pars were still in the SPL, there were delays in paying wages to players and staff, which was blamed on the collapse of Rangers and outstanding monies owed to the East End Park club. In the past, some of the outgoing board members are known to have personally helped out financially and the spate of resignations has led to fans' concern for the future. But chairman Yorkston (left) flatly denied they are heading for the rocks of fiscal ruin. He said: 'In the 12 years I've been at Dunfermline, there has always been financial difficulties but we always manage to get through it and this is nothing different. 'The prospect of administration appears to be linked to this club every year but I'll repeat myself � it's often a struggle here but we get there in the end.' The club confirmed there is now a board running both the first team and East End Park, while a new, subsidiary board, called Black and White � featuring former Pars directors Curtis, McWhirter, McBay and Jones � will focus on the development of the club's youth programme.
ACCESSION #
82837760

 

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