THE future of Partick Thistle's famous Firhill stadium will be decided at a crunch meeting this week.
Jags bosses want to sell the ground to a fans' consortium in a bid to clear debts, and the issue will be decided at a shareholders' summit on Wednesday.
A property company formed by fans has already guaranteed enough money to buy half of the stadi
um and they're hoping to raise the cash to buy it outright.
It is hoped that such a move will go some way to wiping out the club's £1.8million overdraft.
In a letter to shareholders, board vice chairman Tom Hughes said: "At the AGM on March 31, the Board of Directors emphasised the need to increase revenue generation and control costs with a view to sustainable progress as an organisation and as a football club.
"Glasgow Warriors have committed to Firhill in the medium term, Ignis have extended their deal by one year, and Greaves Sports intend to build on a first year's merchandising which exceeded all their expectations.
"In the coming year, Denis McQuade and Stuart MacPhee will drive a number of new initiatives including "Jags Ambassadors" and the possibility of upgraded season tickets.
"The ultimate goal is a successful football team. However, Partick Thistle is much more than that. We are a community club with a long history in Maryhill.
"Allowing under-16s in for free has been universally applauded. We
intend to build on that so that everyone can feel proud to be associated with the Jags. Stabilising the finances is crucial.
"Servicing debt detracts from the playing budget and can adversely affect many areas of development.
"This is why the Board of Directors have been investigating the possibility of releasing the stadium asset to clear debt built up for a number of reasons, but most of all by the SPL requirement to build the North Stand.
"There are two main options. One, to transfer the stadium to the (fans) property company for £3.6million valuation with club retaining 50 per cent ownership of company. A lease in perpetuity would be granted to PTFC at peppercorn rent amongst other conditions.
"Or two, to transfer the South End and West Stand for £1.8million, with the club retaining 50 per cent ownership of the company and the rest of the stadium.
"The advantage of the former is that it clears the debt in full. However, raising £1.8million is a challenge. Both cases need Bank of Scotland co-operation."
The shareholders' meeting takes place in the Alan Rough Suite of the Jackie Husband Stand at 7pm on Wednesday.
Meanwhile, it has been announced that a collection will be taken for the family of Gordon Lennon at Thistle's pre-season friendly against Dumbarton at the Sons' Strathclyde Homes Stadium on Tuesday, July 14.
Lennon, a former Jags player and captain of Dumbarton, died following a road smash recently, leaving behind a young family.
A Partick Thistle spokeswoman said: "We know that the Thistle supporters will be more than generous with their donations."
