Gilmour says no to Gers newco

Jun 30 2012 by Andy Newport, Paisley Daily Express

SAINTS chairman Stewart Gilmour fears the financial crisis engulfing Scottish football may lead to job losses at the Paisley club.

Gilmour will stage meetings with shareholders and supporters early next week to spell out the reality of the situation created by the demise of Rangers.

And it is clear that the shockwaves from the Ibrox club’s financial meltdown could do serious harm to St Mirren.

Backers such as TV broadcasters Sky have yet to confirm whether they will continue to plough cash into the Scottish game now that Rangers are to be exiled from the SPL.

And Gilmour says that, if Sky does decide to scrap the deal, it could leave Saints facing an £800,000 black hole in their budget.

He added: “The contractual obligations of the club are considerable and must be maintained to ensure we do not slip towards the same fate of others.

“It is possible that major cutbacks may have to be made within the company and this may well involve people in the club losing their employment.

“That is not a good situation but we hope that, if our commercial partners do not invoke exit clauses in their contracts, we would not have to go down this route.

“The decision on those matters is outwith the control of the club but let us hope that the possible scenarios are not as severe as they could possibly be.”

Earlier this week, Express Sports exclusively revealed that St Mirren will vote against the Ibrox newco joining the SPL.

Gilmour will now meet with shareholders at St Mirren Park at 7pm on Monday, with another meeting taking place with season ticket holders and other fans 24 hours later to give them the “full facts” surrounding the ongoing saga.

Gilmour told Express Sports: “Only today were we in receipt of enough information to make valued decisions and we look forward to sharing that with our shareholders and fans and receiving their input.”