Bristol may be consigned to National Division One rugby in the coming season after finishing bottom of the Premiership, but Pearce believes that the team can be proud of several achievements during his tenure as Chairman.
"It's important to appreciate what we've all achieved together since the dark days of the summer of 1998," said Pearce.
"Let's not forget the club was facing oblivion at that time and without the £5 million pound commitment I provided to the RFU, Bristol would have been consigned to the lowest level of rugby as was the fate for example of Richmond.
"As it was, we were able to put together a team which won promotion at the first attempt with a never to be forgotten win over Worcester.
"We were able to sign some wonderful players from around the world, such as Henry Honiball, Jason Little, Daryl Gibson and Agustin Pichot, to name but a few. And we've attracted surely the most prestigious main sponsor in English rugby in Mitsubishi Motors, whose support has been outstanding.
"We've been to a Twickenham Final, a Powergen Cup semi-final and we've faced some of the best teams in Europe in last season's Heineken Cup. We've even broken the hoodoo by beating Bath at the Rec and we've smashed the Premiership record attendance by attracting almost 21,000 people to a fantastic day out at Ashton Gate.
"That's not a bad record and everyone involved with the club can be proud of their efforts."