Glens saved by cash injection

Published Thursday, 20 December 2012
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Glentoran Football Club are to receive a cash injection which will ease their financial worries, after McLean's Bookmakers announced that the firm will be increasing its sponsorship of the club.

Glens saved by cash injection
Glentoran and McLean's Bookmakers held a press conference on Thursday. (© Pacemaker)

The Glens also plan to build a new stadium in east Belfast in three years' time.

Paul McLean, of McLean Bookmakers, said: "We came onboard this year as the main sponsor of the club. Everybody will be aware that there have been financial difficulties at Glentoran.

"As the main sponsor we were clearly one of the first doors they knocked on for assistance."

He added: "Having gone through the finances, looked at what was needed, we came to a reasonable financial package that we felt we were happy to put in to keep the club going, get over the immediate financial difficulties and see it into the future, put the club on a firm footing moving towards the new stadium in two to three years' time.

"We want to be involved with local sports, we derive our business from local sportsmen - that's clearly the tie-up."

Cash flow problems at the club resulted in a delay in players receiving their wages earlier in the season.

Glentoran confirmed its players would be paid one month's outstanding wages before a game against Ballinamallard United at the beginning of this month.

They were then due to be paid any outstanding payments later that week.

Terence Brannigan, the club chairman, described the sponsorship deal as "a step forward"

He said the extra injection of cash from McLean's Bookmakers would help the club manage their cash flow, pay future players' wages, and allow them to plan for the long term.

© UTV News
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7 Comments
derry dave in derry wrote (668 days ago):
AS A DERRY CITY FAN , I AM DELIGHTED FOR THE GLENS . HAD THEY WENT BANKRUPT FOOTBALL IN IRELAND WOULD HAVE BEEN DESTROYED
johnboy in lurgan wrote (669 days ago):
Ill say it again where is all this money going. Everyteam has to run on what resources they have. we have great support who are always donateing to the cause,and following our team. how long before were in the front pages again. This 50.000 the 60.000 loanfrom our friends at ifa and the 450.000 mystry benefactor donation have all gone down one mighty big plughole.TIME TO INVESTIGATE OUR BOARD ,and the deals they are putting together.
Rea Campbell in Dundonald wrote (669 days ago):
Good for the Glens, can happen to anyone one look at the once mighty Rangers never mind an enquiry into the Glens money there should be one in to Linfield when you think of there resources compared to the rest and watch them struggle below a team that sit third in the table with supposedly no money.
johnboy in lurgan wrote (669 days ago):
why is no one asking what the problems are.we seem to be worse off than most,are we paying to much on wages,have we paid back our loan to ifa,heads need to roll. This board are simply incompetent an need to go. pleeeese save my wee glentoran.
ROBERT MCKENZIE in S.BELFAST wrote (670 days ago):
ALWAYS HAVE BEEN AND ALWAYS WILL BE IN OUR SHADOW NO MATTER HOW MUCH MONEY THEY HAVE OR WHERE THEY PLAY!
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