Hamilton Accies now ' debt-free '

Ronnie MacDonald said Accies are "free of financial risk"
Hamilton Accies President Ronnie MacDonald, revealed that the Scottish Premier League club is now free of debt.

Kelly said accounts show a profit over the past two years, although the Club still have a pending on your mortgage, New Douglas Park Stadium.

The Club of Lanarkshire also received another payment from Wigan because of appearances of medium James McCarthy for the football club.

Accies "are exempt from any financial risk," said Club site.

In July last year, Hamilton sold medium McCarthy to Wigan Athletic, for a fee in the region of £ 1.2 m, in a deal that includes also reinforced for the Scottish Club payments depending on appearances for his new Club.

We obviously don't build it in our calculations, but you have a shortage in football every year, no matter how well you budget, therefore, James and his appearances are closing
President of Hamilton
Ronnie MacDonald

"We have had a prepayment based on appearances to James," says MacDonald.

"That is part of the contract with Wigan, which hopefully give us a good flow of money going forward.

"We obviously don't build it in our calculations, but you have a shortage in football every year, no matter how well you budget, so James and his appearances are closing".

Stadium of the Club, which opened in 2001, also generated revenue for Hamilton youth system, but has nearly a decade to run on your current mortgage before entering full profitability.

"The company has assigned Stadium in some money to the youth system last season, but the more likely it is that it will be probably not before the expiry of Presidents mortgage before we get any significant amounts," says MacDonald.

"The mortgage we took to buy the stadium as opposed to Futebol Clube lapses in 11 years.

"We invested a lot of money to get it up to spec. Obviously, if we do not have tenants, wouldn't it be a happy situation.

"But that has gone as well as he can and stabilized the situation."

Macdonald also said that the ongoing developments were for a permanent Youth Academy, but plans were hit by the global recession and other factors outside the control of the Club.

"I doubt very much if there will be any major progresso with this until we can exhaust all other possibilities," said MacDonald.

"We are currently working with sportscotland in looking at the development of Ravenscraig and see if we can take part in that with outside Academia.

"I am very pleased that the Club has been in business since it was first the whole thing.

"The only thing you can do as a President is pass it in a better State than you found it and there is no doubt that did it."

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