Parent company lends Ross County FC helping hand to stay debt free; Dingwall club's top goals revealed as accounts released
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Ross County Football Club remained debt free last year thanks to its parent company Global Energy Group.
The Scottish Premiership side - whose parent company is Inverness-headquartered GEG Capital - reported a breakeven position when filing accounts for the 11 months ended May 31, 2019.
It was a similar situation to the previous accounting period for the year ended June 30, 2018 and came after a fall in turnover.
A strategic report accompanying the firm’s latest accounts stated: “Season 2018/19 opened with the club in the SPFL Championship with the primary objective being an immediate return to the SPFL Premiership.
“This was achieved through a hard season’s competition and with a big drop in income which necessitated an injection of cash from the principal shareholder.
“The board are delighted that promotion was achieved and that, in addition, the club secured the Irn-Bru Challenge Cup.
“We are grateful to GEG Capital for its continued support.
“As anticipated, turnover dropped during the year by some 30 per cent following a drop to the SPFL Championship at the end of last season and the consequent reduction in prize money.
“We continue to invest in our academy system as this is still an important factor in our future.
“The club remains in a breakeven position for the year largely due to the injection of cash during the year from its parent company. This allows the club to remain debt free.”
Turnover for 2018 was £4,316,332 and it moved to £3,023,525 last year.
The report added: “ The principal risks and uncertainties associated with running a professional football club derive from players’ and managers’ contracts, the transfer market, revenues from broadcasting contracts, attendance levels at the home games, and the continuing support of the local business community.
“Results on the pitch, maintaining league position, and successful cup runs can have an influence on these matters but all are influenced by matters outwith the company’s direct control.”
The average number of employees increased from 80 in 2018 to 86 last year, while staff costs were £3,842,835 in 2018 and £2,922,524 for the following 11-month period.
A directors’ report stated: “The goal of the directors is to maintain a debt-free position while creating a sustainable, community-based model for future stability. To this end, the short-term target is to preserve the club’s position in the Scottish Premiership.”
