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DBBT press release

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12 Jun 2013 11:21:20

DBBT press release

today's press release

FRESH PRESS RELEASE FROM THE DBBTPRESS RELEASEFROM: THE DARK BLUE BUSINESS TRUSTCONCERNING: THE SITUATION AT DUNDEE FOOTBALL CLUB RELATING TO POTENTIAL NEW INVESTORS IN THE CLUBDATE: 11 JUNE 2013The Dark Blue Business Trust (DBBT) has been closely following the unfolding developments relating to the proposed investors take-over of Dundee Football Club, and the Trustees and Members now wish to make the following statement:First and foremost the Trust would like to stress that any proposed investment in the 'best interests' of Dundee Football Club has to be warmly welcomed.On the face of it, this particular proposal appears to be very attractive, as it indicates the investors are prepared to commit substantial sums of money to the Club. In return, they're seeking majority control which is an outcome that's acceptable in principle to current majority shareholders (DFCSS).Both circumstances indicate that an early 'conditional' acceptance would have been appropriate, subject to the clear identification (by the Club) and satisfactory provision (by the investors) of further information relating to the bid, followed by a period of negotiation on any points of difference, then the completion of a robust internal process to accept or reject the bid.Unfortunately, none of the above has happened, and the media coverage of the situation has been extremely damaging to the reputation of the ClubThe Dark Blue Business Trust now asks that those who have authority to manage and resolve the situation do so quickly and professionally. If however the governance processes of the Club and its owners don't allow this to happen, then there's no way of ensuring that the 'best interests' of Dundee Football Club are being properly served, whichever way the decision goes.In the interests of Dundee Football Club and its supporters, it's time for all parties to admit to their difficulties and mistakes, agree a way forward, and bring this situation to a professional conclusion. If one or both parties can't agree on a professional approach to dealing with the situation, it could reasonably be concluded that their interests must lie elsewhere.Note to Editors: The Dark Blue Business Trust is an independent group of business people who have supported the Club for many years. The Trust was established in late 2010 with the main aims of raising funds to support the Club, assisting the Club through the administration process, and encouraging innovativeand sustainable development of the Club with a specific focus on all aspects of youth development.

 

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Source: Dundee Mad


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