Lottery Winners Help Partick Thistle FC Clear Its Debts
December 10, 2015
A husband and wife who scooped a whopping £161 million on the EuroMillions lottery in 2011 have helped their favourite football club become debt free.
Along with Billy Allan, an existing Partick Thistle board member, Colin Weir and his wife Christine have injected enough cash into the Glasgow football club to see it head out of the red and into a much improved financial position.
In return for their investments, Colin and Christine will each take 5 per cent ownership stakes in the club, which Colin has supported since he was a child.
“I have been a Jags fan since I was a boy and have spent many hours at Firhill, some of them more enjoyable than others,” he said.
“Chris and I are delighted to be part of the collective effort to help the club achieve financial security, no mean feat for any club in Scotland today.”
Partick Thistle’s chairman David Beattie has expressed his gratitude to the Weirs for their investments, which have enabled the club to renegotiate its position with creditors and move into a position of operating without debt.
“First and foremost, I would like to thank each of our new investors on behalf of the club and all of its supporters,” Beattie said in a statement.
“As genuine Partick Thistle fans, they have allowed us to start a new chapter in the history of the club, which I hope will allow us to move on and establish ourselves fully as a Premiership staple for many seasons to come.”
In addition to taking a collective 10 per cent stake in Partick Thistle themselves, the Weirs have also donated 19.28 per cent of shares in the club to a newly-created Partick Thistle Football Club Trust, which will enable fans to have their say on matters being discussed at boardroom level.
Colin Weir said he is pleased with the establishment of the supporters’ trust and was happy to be “in a position to gift shares to it to get it off the ground”.
If you live in Scotland and you’re struggling to get out of the red or to retain control of your debt management position then Scotland Debt Solutions can help. Call us directly to arrange a free consultation.
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