‘Stark decisions’ facing Finn Harps shareholders as special general meeting called

Finn Harps shareholders have some ‘stark’ decisions to make over the future of the club.

Shareholders of the Finn Harps Co-Operative Society Ltd have been summoned to a special general meeting next weekend at which they will be briefed by the club’s Board on the state of play.

The meeting, which will take place in the Drumboe Suite at Jackson’s Hotel at 7pm on Sunday, October 13, follows a public meeting in April which heard a discussion on a possible new share ownership model.

Hopes of a private investor coming on board have not materialised so far, although that door remains open to any prospective bidder. 

“The board has explored all options which would deliver the resources necessary to safeguard Finn Harps senior status and continue to build on the huge growth in recent years across all levels of the club,” a statement from the club said.

“The board of Finn Harps will present its recommendations and stresses the need for positive participation from everyone concerned with ensuring Finn Harps FC has a bright future.”

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A follow-up public meeting is also planned for the coming weeks.

The Finn Harps Co-Operative Society Ltd, which currently has 650 shareholders – many of whom are considered lapsed given that 500 of those were bought over 20 years ago – was formed in 1996 following a failed takeover of the club in the aftermath of the club winning promotion to the Premier Division.

In the short-term, the club needs an urgent increase in operational income. The club also needs funds to boost its hopes of moving from a dilapidated Finn Park to a new stadium in Stranorlar - a project that has been hit by a series of delays since it was first mooted in late 2004.

“We have some very, very, very stark choices to make,” chairman Ian Harkin said.

“We have to make a decision and we can’t wait any longer. We have a number that we have to hit and we have to significantly raise our operational income.

“This is a pivotal time with huge opportunities, but we have an operational base to be able to deliver it and at the minute it’s not enough. We need more people involved and we need them all contributing each year, not just with a one-off.”

The options will be presented to the shareholders for approval on Sunday-week.