Big Jim Fae Scotland at English Wikimedia
Partick Thistle income down 12% in 2019/20 due to Covid and day to day operations go from £46k profit to £356k loss. Club made money from ‘other income’ possibly player sale? Loss on investment likely to be reversed as relates to Firhill.
Money in the bank
Despite Covid-19 Partick had over £549k in the bank at 30 June 2020
Partick wage bill up 5% in 2019/20. Wages represent 76% of revenue, a wee bit above UEFA’s recommended ceiling of 70% but would have been lower perhaps without Covid-19. Club have negotiated big player pay cuts for 2020/21
Partick expect balance sheet boost of £1.9m when Firhill is formally gifted to the club.
Cash Injection and the Future
Partick have had a big cash injection from Three Black Cats Ltd, the majority shareholder, in July 2020 that guarantees the club’s foreseeable financial future