Source: Team_Talk
Killie chief's relegation fears
Kilmarnock chairman Michael Johnston insists the club will survive SPL relegation - but warned of major cuts if they go down.[LNB] There have been fears Killie, who are just one point above rock-bottom Falkirk with four games remaining, could go bust if they end up in the Scottish Football League next season.[LNB]But despite the club being more than £11million in debt, that figure is covered by their assets, such as their Rugby Park home and the Park Hotel.[LNB]Killie have already been forced to make cuts after being hit harder than most by the collapse of broadcaster Setanta last summer.[LNB]Johnston told the Herald: "We have assets that outweigh the amount of our debt. But while the hotel is profitable, the football club is not.[LNB]"If the football club income was reduced by going into the SFL, then the football club's expenditure would have to correspondingly be cut back. That would be a painful process, but that's what we would have to do to balance the books."[LNB]Manager Jimmy Calderwood and several first-team players are out of contract in the summer.[LNB]Johnston said: "There's a huge difference between the budget we would work on in the SFL. It can be done. It would be difficult and it would require the bank's support. There is a parachute payment from the SPL to the club that is relegated, which gives the club a serious chance of bouncing back, as looks likely for Inverness.[LNB]"If the worst came to the worst, the club would be heavily dependent on the support of the Bank of Scotland. That, combined with severe cuts in budget, would have to be the survival strategy."[LNB]There are also concerns Killie may be forced to go part-time but Johnston does not anticipate this, adding: "We're not planning on being relegated, there are four games to go and we're not bottom of the league, so there's every reason for us to be confident."
