East Fife have netted a six-figure sum from the sale of land around their Bayview home, it was confirmed yesterday.
Details of the transaction have remained confidential, but directors hope the money raised will further alleviate any concerns about the Methil club’s financial state after recording a £142,174 loss for the 2013/14 financial year.
Bayview itself, the car parks and a 30 metre perimeter around the stadium will be unaffected, while the club has been assured that they will still be able to use the training pitches behind Bayview in perpetuity.
And Courier Sport understands that a clause has been inserted into the contract that will see the club recoup a further 15% of any future sale.
Interim chairman Jim Stevenson yesterday hailed the land agreement as a “good deal” for the club and hopes they can move forward on and off the pitch.
“We’ve been negotiating for some time now and this is certainly going to help the club,” he stressed.
“The transaction is the club’s business and the money from the sale isn’t going into anyone’s pocket it’s going straight to the club, so we’re delighted that it’s all done.
“The directors have put a lot of money in themselves and they have been brilliant throughout, but this land sale will definitely help.”
No details of how much money was made, or who the land has been sold to, is to be made public, but Stevenson confirmed that a “six figure” amount had been secured.
Earlier this week, the club’s directors refuted suggestions the club was in financial trouble, and suggested that the speculation surrounding finances could harm plans for a plastic pitch to be installed at Bayview.
The Methil ground is thought to be one of the possible venues Fife Council is looking at for a 3G community pitch, and both the club and the club’s Supporters Society publicly backed Bayview as a location a few days ago.
Off the pitch, East Fife are not in competitive action this weekend due to the involvement of Berwick – who were due to be the Fifers’ league opponents today – in the Scottish Cup.
Gary Naysmith’s men are therefore expected to spend this afternoon training ahead of their next game – a League Two clash at Albion Rovers on Tuesday night.