Euromillions winner Colin Weir withdraws Partick Thistle funding

Published 6th Aug 2019

Lottery winner Colin Weir has withdrawn his financial backing for Partick Thistle amid concerns over takeover plans.

Weir - who won ÂŁ161million on the EuroMillions along with his wife in 2011 - had wiped out the club's debt and was heavily involved in plans for a new training ground.

However, he has pulled his cash weeks after a boardroom coup.

Thistle earlier denied claims that manager Gary Caldwell had seen his playing budget cut by ÂŁ200,000.

In a statement, Weir said: "It is with huge regret that I confirm I am withdrawing my financial support for Partick Thistle with immediate effect.

"Current uncertainties about its potential new ownership, combined with no substantive plan for the club's future and the instability caused by recent board changes, mean I feel unable to make any further investment in the club at this time.

"I have heard nothing from the board/majority shareholders group that gives me confidence to continue with my support.

"I have invested around ÂŁ2.5m to date, including a sum that allowed the club to become debt-free, with a further ÂŁ6m set aside for the training ground and to support the running of the Thistle Weir Youth Academy.

"But I can't provide the benefits of significant monies and a facility to an unknown entity or group, who may or may not have the best interests of the club at heart.

"I wish the fans and all associated with the club every good wish for a successful season.''

Chien Lee's NewCity Capital group, which has a majority stake in Barnsley and Nice, has been in talks over a deal to assume control of Thistle.

Previous chairman David Beattie returned to his role in July after he and other shareholders ousted incumbent Jacqui Low and other directors.

Cuts have been made to the budget, with players reportedly asked to make their own way to Saturday's Ladbrokes Championship opener at Alloa, rather than being provided with a coach. But the board denied that Caldwell's playing budget had been affected.

A statement read: "The current board of directors have honoured the playing squad budget signed off by the previous board, a major proportion of which was already committed when the new directors were appointed. However, the budget did run at a significant deficit which could not be recouped from the club's recurring income.

"This shortfall has been partly covered by the fees to be received following the sale of Aidan Fitzpatrick and the sell-on percentage which the club will receive as a result of Liam Lindsay's transfer from Barnsley to Stoke. The remainder of the deficit will be funded by adjusting aspects of our logistical operations, not by reducing the funds available for the playing budget."