KILMARNOCK have announced that their sponsor, QTS, have renewed their sponsorship of the Ayrshire club for another season.
At the club’s AGM on Wednesday, there was more good news for the supporters as the club revealed a huge reduction in losses. Kilmarnock are six points off the play-off places but a win on Saturday against bottom club, Inverness Caledonian Thistle, would see them safe.
QTS had previously hinted that their sponsorship of the club could end unless Michael Johnson resigned. The much maligned company secretary was absent from the AGM and has yet to resume normal duties after his wife passed away recently.
Financially, the club managed to cut losses from £724,406 to just £69,089 – with TV money and Euro 2016 cash helping reduce the club’s debt and place them on a more stable footing. The next year could prove even more fruitful for Kille as the seven figure fee received for Coulibaly and Bury’s compensation package for Lee Clark will be taken into account.
However, monies owed by the club to Billy Bowie increased by £165,000 to £888,833, highlighting that there was still the dependence upon cash for the current board and Johnson in order to operate.
The AGM also saw the presentation by the Killie Trust about a member of the Kilmarnock Supporters Society being elected onto the board of directors, after £100,000 is raised to purchase shares to earn a place on the board.