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SBD Global/February 12, 2014/Franchises

Scottish Premiership Kilmarnock Fan Group Looking To Purchase Majority Share In Club

A Scottish Premiership Kilmarnock fan consortium has "revealed its intention to purchase a majority shareholding in the club," according to David Wren of the Scotland DAILY RECORD. The Killie (Community) Working Party's bid relies on Kilmarnock Chair Michael Johnston "reaching a deal with the bank to wipe out the club's debt." The consortium, which is made up of The Killie Trust, The Kilmarnock FC Supporters Association, Minority Shareholders in Kilmarnock FC, The Business Club and Young Kilmarnock, said that it plans to purchase Johnston's majority shareholding if he can "reach a deal with the bank to get rid of the club's debt," which stands at around £9M ($14.8M) (DAILY RECORD, 2/11). The SCOTSMAN reported Johnston is "reported to have held negotiations with the club’s bankers over a deal." Killie Working Party representative Gary Torbett said, "We would like to acknowledge the work being undertaken by the chairman of Kilmarnock Football Club to make the club debt-free and would positively encourage him to make every effort to come to an agreement with the club bankers and other significant lenders to reduce the debt to zero" (SCOTSMAN, 2/11).
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