Aberdeen chairman Stewart Milne believes the refinancing of the club’s debt and removal of the burden of debt at Pittodrie has put the club in a better position to deliver dedicated training facilities and a new stadium.
The removal of the club’s debt last year coupled with a second place finish and participation in the Europa League has led to record turnover at Pittodrie and a club profit of £509,000.
With Aberdeen in a healthy financial position the chairman believes his club is well placed to deliver on a new permanent home at Loirston Loch.
Milne said: “We received a setback earlier in the year when we were forced to shelve plans for new training facilities at Balgownie for the first team, under-20s and youth development teams and for use by the Aberdeen FC Community Trust.
“I would add that negotiations between the two parties were entirely amicable and we continue to work with the University of Aberdeen on a number of other initiatives.
“In the interim, for the first team squad, the existing arrangements and facilities at Countesswells are being enhanced, with good co-operation between Robert Gordon’s College and the club.
“In addition the pitches at the Bridge of Don Barracks have been improved to ensure we have contingency in our arrangements and allow for pitch rotation.
Aberdeen announce bumper profits for 2014/15
“In terms of the proposed relocation to a new stadium, Loirston Loch remains our preferred option, and we have been encouraged by the progress being made with Aberdeen City Council and their development partner at Loirston.
“While discussions are ongoing, we are still optimistic that we can reach a satisfactory arrangement among the parties to allow the development to progress.
“I said last year that I was pleased with how things had been going at the club but that there was still much hard work to be done.
“The past 12 months have witnessed further improvement and, with our football management team as well as the vast majority of the squad under contract for the foreseeable future, everyone involved with the club is looking forward with confidence and enthusiasm and with a commitment to deliver further success on and off the pitch.”
Shareholders will get their chance to discuss the financial results at the annual meeting which will be held at Pittodrie on Monday, December 14 at 7pm.