The sale of land near to Bayview stadium by East Fife FC will go a long way to stabilising the future of the Methil club.
That’s according to chairman Jim Stevenson who this week announced that a deal had been reached with a buyer for land owned by the Fifers near to the club’s base.
The six figure deal is another step forward for East Fife, said Mr Stevenson, as work continues behind the scenes to get the club onto a sounder financial footing.
Last year East Fife reported a loss of £142,174 and it’s been long acknowledged that board members themselves had been helping the club keep running from their own pockets.
Mr Stevenson, though, says that the land sale, for ground outwith a 30 metre radius of Bayview and its car parks, will help ease the financial strain on the club.
He said: “This six figure deal is the best deal for the club.
“There has been no secret made that the finances of the club have not been great but this will go a long way to helping that.
“We are continuing to work to stabilise the club.”
Part of the land sold includes where the side trains behind the wall opposite the main stand.
Mr Stevenson, though, said the sale will not affect this for the time being and that the club will continue to maintain the piece of land for training purposes.
The Fife chairman also added that, during negotiations, the club managed to ensure a 15 per cent sell on agreement with the buyer meaning that, should the new land owners decide to sell the land, then the club will stand to benefit.
The new land owner and the precise price paid for the piece of ground is being kept confidential.