Thursday, March 10, 2011

Queen of the South: Dumfries Despair

Another day, another dollar.

Or, more accurately, another story about the lack of dollars in the Scottish game.

Queen of the South's financial plight, already an open secret, has been confirmed in the club's latest accounts.

A loss of £1.2 million - up from £750,000 the previous year - is compounded by a drop in net assets from £500,000 to £82,000.

Even I, proudly possessing the financial acumen of an innumerate spendthrift, can tell that this situation is grim.

Dumfries' finest are not alone, too many clubs seem to be in a perpetual state of impecunious meltdown.

But £1.2 million?

Seems a hell of a lot of money.

The directors say they've got plans to return to profitability but also concede that the accounts point to:

"material uncertainty which casts significant doubt upon the company's ability to continue as a going concern." (BBC)

As Dumfries' most famous former resident wrote "prudent, cautious, self-control
is wisdom's root."

But it's not as if Palmerston Park has seen the unsustainable arrival of expensive signings of late.

This is a solid club with a long history and a stable position in the first division alongside that 2008 Scottish Cup final appearance and a flirtation with Europe the following season.

But still it's hard to see where a sound plan for a speedy return to health can come from.

The desperation of their plight might make clubs like Queen of the South more amenable to talk of league mergers and SPL reconstruction.

Let's hope, then, that the SPL have more than dreams to back up their assurance of future happiness for all.

> Find out more about what the fans are doing to help at the Queens Trust