CLYDE have paid tribute to their fans for sticking by them and saving the club after announcing it is now debt-free.

The Bully Wee faced severe financial problems after speculating to accumulate 10 years ago and attempting to win a place in the SPL.

Debts of £1.4million crippled the club and saw them drop down the leagues to the bottom tier, where they now play.

But their Supporters' Trust raised £300,000 and Clyde became Scotland's first fully democratic Community Interest Company, with 380 fans now "owners" with an equal say in how it is run.

The 137-year-old club is in far better shape off the park as former Rangers and Scotland star Barry Ferguson, their new manager, looks to bring success on the field.

In a statement, the Cumbernauld-based side thanked its creditors and supporters for helping it to readjust its structure to live within its means.

It added: "There are mixed emotions; a sense of satisfaction at having achieved this massive task tainted with the pain of it having happened in the first place and all that followed. Yet it sets the foundation on which the club can again plan to grow and progress.

"It is almost impossible to know where to start to thank all of those that contributed to save the club from extinction.

"In the early years supporters and many friends of the club seemingly poured money into black holes to steady the ship.

"Nobody sought recognition for their contributions, so they remain anonymous today.

"Clyde is a club that exists today because of all of its supporters, not because of a few. Thanks to everyone's efforts we can look forward to 10 years of progress."