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society statement

24 May 2013 15:38:32

society statement

part 1

 

quick update re the recent goings on at our club,theses are statements from the dfcss,i will try and put them up all in order but incase they dont appear in order the date and time are displayed before the article starts.

Tuesday, May 21, 2013 at 11:43

Dundee FC Supporters’ Society today reacted to news of a proposed takeover of Dundee FC by a consortium of US-based firm Keyes Capital and current club directors Bill Colvin and Steve Martin.While the club has held confidential discussions with potential investors for some time, the proposed takeover from this consortium was first brought to the club board’s attention only on Wednesday of last week, and was then discussed at the Society’s board meeting on Sunday.While any offer of funding and development opportunities for the club must be considered, this must be balanced against both short-term financial requirements and the long-term destiny of the club. Dundee FC’s own financial history and the high-profile difficulties other clubs continue to suffer mean that supporters would have to give their approval if the club were to return to a single controlling interest, benefactor-based ownership model with the risks that entails, after proper consideration and due diligence.The proposal is being considered, but as it stands has a precondition of a very short timescale in order to provide additional playing funds, and this timescale presents difficulties in terms of the democratic processes of the Society. As a supporter-owned club, we have a duty as majority shareholders to consult with our members, and we fully intend to do so.

Source: Dundee Mad


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