Image: FlickrWhat do you do when your nationwide 5-a-side football pitch business posts its first ever loss as a listed company? You hire the chief executive of one of the world's most famous football clubs, of course.
Goals Soccer Centre has appointed Inter Milan chief executive Michael Bolingbroke as a senior independent non-executive director.
Mr Bolingbroke joins the board in June, alongside new chief executive Mark Jones, a former casino boss who starts in July. He is not the only high-profile football boss to have involvement with Goals Soccer Centre. Newcastle United and Sports Direct owner, Mike Ashley, holds a 4.94% stake in the company.
Bolingbroke was named Inter Milan's new chief executive in 2014 after serving as chief operating officer at Manchester United since 2007.
He said: "I am delighted to be joining Goals at this important time in its development.
"I am passionate about all forms of the game and pleased to now be involved in this fast-developing area of the sport.
"I look forward to helping the company realise its significant potential."
It comes after Goals reported its first annual pre-tax loss for 12 years earlier in the year. Having posted a £6.8 million profit in 2014, the 5-a-side company reported a £6.2m loss.
Sales across its 46 UK centres dropped 6.7%, with overall sales - including one centre in California - falling 4.9% to £33m.
Goals blamed growing competition from full-sized 3G pitches, which are often part-funded by the government. It says league operators have a competitive advantage because they do not need to invest in their own facilities.
Goals plans to place 16.75 million shares at £1 each to boost its finances, and will invest £3.5m on re-fitting 55 pitches with new high-quality turf and shock pads which it says will increase the life of the pitches by 30 years.
