EXECUTIVE Chairman Henry Ross has provided the following update on the one-year anniversary of becoming majority shareholder at the club…
Good evening,
I hope you’re well. Usually I prefer to let our actions do the talking, but as we reach the midway point of the season and the first anniversary of me becoming majority shareholder of Coleraine FC, this felt like the right moment to provide some clarity on where the club stands and where we are heading.
Where We Are
The first half of this season has been a credit to everyone at the club. Staff and volunteers have worked tirelessly, and the backing from our supporters, home and away, has been outstanding.
We have progressed faster than expected. That is encouraging, but it also brings heightened expectation, which must be managed carefully.
Our ambition is clear and unchanged: to build Coleraine FC into the best club in the league.
However, ambition and expectation are not the same thing. Ambition is how we operate; expectation is how we measure ourselves. Confusing the two leads to poor decisions.
This season marks a period of significant transition, with new management, new players and new structures. We will approach every match and competition with the ambition to win; however, the expectation this season is to qualify for Europe.
Our long-term plan remains consistent. We are building towards delivering our first league title in over 50 years by our centenary season (within the next three seasons), and towards reaching the UEFA Conference League league phase within five seasons.
The focus in the meantime is non-negotiable: culture, standards, recruitment, coaching and professionalism across the entire organisation. If those fundamentals are sustained, success will follow.
Reflections on the Last Year
This time last year, the Club was at a genuine crossroads, only a week away from bankruptcy. It was a moment that required decisive commitment. The year since has been demanding, with inevitable challenges, but it is encouraging to look back at the clear progress that has been made.
There is still a long way to go, but the work done over the past year has been fundamental to the future of our Club. I am grateful to our players, staff, volunteers and supporters for the professionalism and resilience they showed throughout that period, which allowed the Club not only to stabilise, but to move forward with purpose.
FINANCIAL STABILITY & SUSTAINABILITY
There has been understandable discussion around sustainability and financial risk.
It is important to distinguish between an operating deficit and financial danger. Many clubs operate with controlled deficits during periods of transition. What matters is whether those deficits are planned, affordable and reversible.
Our position is straightforward.
The Club is financially secure. Investment has been deliberate, measured and subject to constant review. We are investing to modernise the Club, strengthen the squad, develop the academy and build an organisation capable of competing consistently at a higher level.
It is also important to note that a portion of the current deficit reflects one-off historic issues and the associated costs of addressing them. While there is no guarantee that the deficit can be eliminated entirely, I am confident that it will be reduced year-on-year as those exceptional items fall away, tighter cost controls are implemented, and revenues continue to grow.
Equally important, this ambition is neither open-ended nor unmanaged.
There are clear safeguards in place to ensure the Club is never left in a vulnerable position. If circumstances were to change and the current strategy fails, we would act responsibly. That could mean adjusting our level of ambition, changing our operating model, or, if appropriate and as a last resort, ensuring the Club is passed to ownership willing to continue the project. I sincerely hope none of those measures are ever required, but I want to be clear that there is no scenario in which Coleraine FC is left in financial danger.
On Financial Fair Play, the Club will be fully compliant with league regulations when they become enforceable. The rules permit losses of up to £75,000 over a rolling two-year period, adjusted for net current assets. While our operating loss will exceed £75,000, our net current asset position will fully offset those losses, and the Club will remain compliant.
The Role of the Community
What we are trying to do has never been done in this league. No club has become the top side while also being genuinely sustainable. Linfield have had long-term stability because of circumstances unique to them, and Larne’s rise has been remarkable but not yet self-sufficient. What we are attempting, top performance and long-term sustainability, is uncharted territory.
For this to work, the connection between the club and the community matters more than ever.
We will always work to make the Showgrounds an inviting, enjoyable and welcoming place for everyone – families, young people, weekly regulars and those discovering the club for the first time.
There is absolutely no expectation on anyone, but what I do ask is simply this: Play your part in whatever way you can. Come to games when you can, create an atmosphere, encourage others, show support on social media, support the club shop – every form of support strengthens the club and expands what becomes possible.
The more connected we are as a community, the higher our ceiling becomes. And if we move forward together, there is no limit to what this club can achieve.
Looking Ahead
There remains a great deal of work to do, on and off the pitch. Progress will continue to be pursued in a disciplined, deliberate and long-term manner.
The club will be run with ambition, honesty and professionalism, and always with long-term responsibility at its core.
Thank you for your continued support.
Wishing you a Merry Christmas and a happy New Year!
Henry J. H. Helle-Ross
Executive Chairman & Majority Shareholder
Coleraine Football Club