Partick Thistle anticipates receiving a second tranche of £500,000 from an investment group led by Donald McClymont in the first quarter of 2024, it was revealed at the club’s AGM on Thursday.
Jags fan and US-based investor McClymont is part of a small group that invested £500,000 into the club in October. The businessman has opted to take the board seat he is entitled to under the terms of that investment, his appointment is expected to be formalised later this month. The expected further investment - which is subject to shareholder’s approval - will be a boost to Thistle ahead of the 2024/25 season.
Shareholders in attendance in-person and via Zoom heard CEO Chris Ross lead a comprehensive business update from the club as it continues its fan ownership journey, boosted by a 32% increase in season ticket purchases this season.
The board also shared that early, exploratory talks have been held regarding the potential redevelopment of the unused south end of the stadium although it was stressed that ‘these conversations are relatively early stage … and any formal contract would be subject to approval by the majority shareholder.’
Three new appointments were made to the Partick Thistle FC Board following Thursday’s AGM, with further elected fan representatives to be appointed in the summer.
Thistle shareholders approved the additions of new directors Elaine Hamilton and Elliot Gilmour to the club board, while Stuart Callison replaces Andrew Holloway as The Jags Foundation’s
representative, all subject to Scottish FA approval. Current board directors Richard Beastall and Caroline Mackie were re-elected for another term, with Douglas McCrea not seeking re-election marking the end of his term as director. Two more fan representatives will be elected in the summer.
