It’s almost six months since I took on the honour of chairing The Jags Foundation. The undoubted highlight so far has been the smiles on the faces of members receiving their special Foundation Shirts.
After costs, this initiative has already raised over £15k for the Foundation, ensuring we will beat our pledges to the Club, Academy and Women’s team this season.
Club Pledge
£12500 per month
Academy Pledge
£2000 per month
PTWFC Pledge
£5000 season 2024-25
The initiative was a massive team effort. An example of what can be achieved when TJF, the Club and commercial partners are all aligned.
Strong fundraising, on top of our pledges to the Club, Academy and Women’s team, is what allows TJF to build a fun fan experience off the park.
Our full-house Hospitality Takeover in January is sure to be a great day out and we’re delighted to be extending the experience from last year to more of our membership.
Club Finances and Tranche 2
TJF is absolutely vital to the sustainability of the Club. Without our 1850+ members going above and beyond, the financial challenges at the Club would be significantly harder. You’re doing your bit and no one, least of all those in the Boardroom, should ever forget that.
By voting in favour of the Tranche 2 investment, Thistle fans have taken a difficult but important decision. They have bought the Club more time to become a self-sustaining fan-owned business.
The deal keeps the Club debt-free, literally lets us “fix the roof” and makes sure there is a sensible amount of cash in the bank for future seasons. The changes to the Club-Trust Agreement will also bring greater financial transparency and accountability.
But the investment doesn’t solve all the Club’s problems. It provides short-term stability but not long-term sustainability. It was always expected that £1 million would be needed to stabilise the ship.
But that has now been delivered. There are now no more excuses if the well runs dry again.
The future
It is up to the Club Board and its senior leadership team to prepare and deliver credible balanced budgets from season 2025-26 onwards.
We have to start living within our means, and to be open and honest with fans about what that means in practice. As co-trustees, we have made that expectation clear to the Club Board.
It is only by getting back to break-even, through better revenue raising and robust cost control, that majority fan ownership at our Club can be properly protected.
Other Clubs in Scotland going into administration in recent months serve as a stark reminder of the price of getting this wrong.
Skills-based Club Board recruitment
There is one area where we feel, in particular, more needs to be done in 2025.
Fan ownership was always meant to bring a blend of democratic representation and skills-based recruitment to the Club Board. Significant progress has been made on the first but not yet on the second.
As Trustees, we intend to ask the Club Board to run an open recruitment exercise between now and the summer, with a view to securing at least one and ideally two new skills-based appointments to the Club Board.
There should be a particular focus on getting stronger finance and commercial expertise into the senior leadership group.
We know that there are plenty of Jags fans with the experience and expertise to improve that leadership team, both within and beyond our membership. We encourage them to step forward when that process goes “live”.
Fan ownership is an opportunity to do things better, but it also depends on our fellow Jags stepping up and getting involved. The best custodians of Partick Thistle are, and always will be, Partick Thistle fans themselves.
TJF’s Club Board representation
When the TJF board agreed to be represented on the Club Board back in the summer of 2023, it was intended to be a temporary arrangement, during a transitional period for the Club and when no elected representation was on the Club Board.
Now that the two directly elected PTFC Trust Fan Reps have had a chance to settle-in, we think it is time to review that arrangement, and to take a steer from our members about how they want to be represented going forwards.
We want to make sure that Thistle and TJF set the best example of a “fan-owned, not fan-run” football club and that everyone is clear about the respective roles and responsibilities of the different boards and fan groups.
Early in the new year, we will be consulting with our members about whether TJF representation on the Club Board should continue beyond the 2024-25 season, and (if so) whether any TJF representation on the Club Board should be directly elected rather than nominated by our elected board.
Contrary to what some have suggested, our motivations at TJF have never been about boardroom blazers or perks, or TJF seeking to “run” the Club day-to-day.
We all got involved in the fan ownership journey to serve and advance the interests of our fellow fans. To get the structures and people in place to make fan ownership work for you.
We will be guided by you on the best way to do that because this is your organisation and your football club.
And finally...
On behalf of everyone at TJF, have a great Christmas and New Year when it comes. And let’s make 2025 a famous year for our Football Club.
See you all at Airdrie!
Lynsey Kane
Chair, The Jags Foundation