8-0 defeat is a big winner for Stirling Albion, cup tie income puts 
club into profit for first time in a decade

Stirling albion, Scottish footballs most cash- strapped club, is on course to record its first profit in at least a decade on the back of last November's CIS Cup clash with Celtic.

But the chairman, Peter McKenzie , who has kept the third division side afloat for years, said he "would sell the club tomorrow" if he could find a buyer willing to invest. He said "my door is always open".

Last season Stirling Albion's net debts leapt by £146,000 after another year of substantial losses. Its Forthbank ground is owned by the Council and the club has fixed assets worth just £2,000. Total liabilities now outstrip assets by £1.1 Million, the latest accounts show.

However, Mr McKenzie, 75, said that all the debt is owed to him personally and he pledged not to let the club die before he does. He pumps in cash generated by his trailer business to prevent Albion from going bust.

He said "If I let the club go to the wall I would consider myself a failure. As long as I am here, that will not happen.

Stirling suffered an 8-0 mauling at Parkhead on 6 November in front of a 30,000 crowd. But Mr McKenzie said that the estimated £150,000 that Albion earned from the tie would push the club into the black this year for the first time in more than a decade.

He added "Like every club in Divisions 1,2 and 3, we are in dire straits. But as far as continuing losses go, we have turned the corner"

The clubs financial state deteriorated rapidly after the club moved into Forthbank in 1993 from its old Annfield ground. Albion spent a few years in the first division in the mid to late 1990's , but its decision to go full time wrought havoc with the bottom line.

With just 500 regular fans we couldn't support that. The numbers didn't add up. But in the last two years we have cut costs drastically.

Last year Mr McKenzie rejected an undisclosed bid for Albion from the Snooker magnate Ian Doyle. "Nothing came of it, but that doesn't mean to say nothing will come of it in the future. There has been no recent contact between us, but Mr Doyle still comes to home games.

Article from Business AM - Monday 21st January 2002