'We have a commitment to excellence': Raith Rovers report rapid revenue rise of £600k under new owners

The significantly positive impact of Raith Rovers’ owners since being installed at Stark’s Park last May isn’t just confined to on the pitch matters, for which their significant investment in new players has ignited a Scottish Championship title challenge this season, after the Kirkcaldy outfit had finished a lowly seventh last term.
Raith Rovers' new board pictured last May after taking over from ex-owner John Sim (front, 2nd left) (Pic by Tony Fimister)Raith Rovers' new board pictured last May after taking over from ex-owner John Sim (front, 2nd left) (Pic by Tony Fimister)
Raith Rovers' new board pictured last May after taking over from ex-owner John Sim (front, 2nd left) (Pic by Tony Fimister)

For, in newly published financial results, the Fife Free Press can reveal that - compared to the same seven-month period in 2022 under previous owner John Sim - Rovers increased their overall revenue by a mammoth £601,701 between June 1 and December 31, 2023, when led by current board members Andrew Barrowman, Dean Mckenzie, Colin Smart, Ruaridh Kilgour, Steven MacDonald and Allan Halliday.

The biggest income generator was gate receipts which went up from £352,255 under the previous board to £603,914, with sponsorship and advertising income escalating from £90,454 to £233,443 over the same period.

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Food and drink takings at Stark’s Park rose massively from £35,626 to £139,932, with replica kit and club merchandise sales rocketing from £54,146 to £121,020.

Raith Rovers have announced a hugely positive set of financial resultsRaith Rovers have announced a hugely positive set of financial results
Raith Rovers have announced a hugely positive set of financial results

Income from outgoing player loans and sales spiralled from £4290 to £39,795, with new initiatives – including Club 1883 which now has 347 members and the RRFC Business Club – shifting from zero to £23,135.

Over the same period, which has seen a significant improvement in stadium facilities and football operations, there has only been a marginal increase in outlay of £129,786, from £1,351,296 to £1,481,082.

A Rovers statement thanking the fans for their immense contribution to the club’s rise added: “The club is well on its way to achieving a profitable first year under the new ownership group.

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"From the very beginning, when we outlined our vision for the football club, we emphasised the importance of investing in revenue-generating initiatives to ensure a stronger and more sustainable future.

“We also made it clear that we aimed to be transparent in our decision-making and updates, improving our overall communication with supporters.

"We continue to work hard and do our best off the pitch for Raith Rovers, our players will always mirror that on the pitch. This commitment to excellence is the culture and standard we have set throughout the club.”