Weymouth FC AGM hears of losses but growing optimism

Weymouth Football Club Ltd AGM hears of weekly losses, loan repayments and positive signs on and off the pitch

Shareholders of Weymouth Football Club Ltd were told the club continues to operate at a significant loss and faces ongoing financial and governance challenges, during the company’s Annual General Meeting chaired by Ralph Ricardo.

The meeting, which began at 7:00pm and concluded at 8:35pm, with approximately 30 shareholders re-elected the only two current directors and heard that three former directors are still owed a combined £40,000 in loans to the club. Shareholders were told the club will discuss its position regarding repayment of those loans with the former directors at the end of the current season. The loans have not been converted into shares.

Accounts presented at the meeting showed that the club is currently running at a loss equivalent to around £5,000 per week. Shareholders were told that this shortfall has been covered through loans provided by existing and former directors, underlining the ongoing reliance on director funding to maintain operations.

It was also discussed that the club is seeking to recruit additional directors. Shareholders were told that finding suitable candidates has proved difficult, particularly individuals able to contribute financially or bring professional expertise. In particular, it was stressed that a commercial director with strong marketing skills is considered vital to help grow revenue and develop the club’s commercial opportunities.

During the meeting it was also noted that the current directors are very hands-on in the day-to-day running of the club. Attendees heard that this approach has helped ensure that jobs around the ground are now getting done more efficiently. Compliments were given to staff and volunteers across the club, with special recognition for the groundsman and others who were praised for working extremely hard. Several speakers remarked that the club currently has a strong “all hands on deck” feel about it.

Shareholders were told that during 2025 the club received three separate expressions of interest from parties exploring potential involvement in, or investment in, Weymouth Football Club Ltd. No further details were disclosed about the identities of the interested parties or the status of any discussions, although one party was from the USA.

The partnership with AIR107.2FM was also mentioned during proceedings and welcomed by those present, with speakers highlighting the importance of local media and community partnerships in supporting the club’s profile and engagement, the live FM broadcast commentary on match days was something the fans were excited about.

Positive updates were also shared regarding the club’s community work, including players and staff attending training sessions and engagement events at local schools. Shareholders heard that the youth and ladies’ teams are prospering, and that these initiatives are helping to strengthen the club’s presence in the community.

There was a notably positive atmosphere during the evening, which some attendees attributed to the team’s recent run of form, having won their last three games under the tenure of the new manager, Jamie Wells. Those wins included victories over clubs higher up the table, and it was noted that the team now is stronger on the pitch than earlier in the season, something many hope will help attract larger crowds and bring in much needed revenue.

During questions, an unpopular ex-chairman raised the issue of the departure of Steve Claridge. While the club’s official statement at the time described the situation as by mutual agreement, he asked the board why they could not publicly clarify that the manager had in fact been sacked. It has also been suggested that a settlement has been paid for the remainder of Claridge’s contract, although no figures were disclosed and no further detail was given during the meeting.

The AGM provided shareholders with an opportunity to raise questions and review the club’s financial position and future outlook as the season continues. Several attendees expressed the hope that supporters would continue to back their local club and turn out at upcoming home games to offer their support as the team’s form improves.

However the future certainly looks Promising for the Terras