Background
This investment opportunity has been developed due to the FPS refusing to engage with or meet with or present its future strategy for Dundee Football Club to the Dark Blues Business Trust (DBBT). It is also worth noting that the if the £350k FPS proposes to keep in reserve was combined with DBBT’s £250k, then this £600k would see only another £250k required to be raised to fund the purchase of the stadium from Sandeman Properties Ltd, whom have fixed a price of circa £850k. This does reinforce palpably the benefits of broad and collaborative ownership and does deliver significant financial and revenue generating synergies.
Supporters/ Sponsors Engagement Strategy
1, DBBT’s believes strongly it has tabled a very viable alternative to FPS’s offer.
2, The Supporters/sponsors/DFCSS inclusive engagement strategy will be launched 12th July, which all stakeholders will be updated on.
3, DBBT members and prospective meeting being scheduled for 18th July 7.00pm at the Park Hotel, which all members of the Dev Comm are cordially invited too also.
4, The investment option involves DFC fans who are both members of The Dark Blues Business Trust and several who are not. All would buy shares and assign voluntarily their proxy vote to the DBBT. The expected number of new shareholders will be around 20-25, which again broadens the base further.
5, When the £250k is paid for shares in DFC Ltd, the DBBT will then have a significant share and proxy shareholding of around 20%. Coupled with what DFCSS will then have would see again broader ownership, greater accountability and clearer transparency.
6, DBBT should already have a DFC Board Member as Steve Martin was not as yet replaced, so DBBT would seek this and would look for maybe one other dependent on the overall composition of the DFC Board.
7, If the DBBT initiative is successful then the DBBT will continue to attempt to develop an effective process of open and collaborative dialogue with all stakeholders including FPS's Bill Colvin, Tim Keyes, John Nelms, and Steve Martin.
8, Also note this offer is already at Heads of Terms status.
9, The DBBT is in discussions with DFC's Board and will be in a position to comment on these later this week, hence the 12th July date as above.
For and on behalf of the Dark Blues Business Trust,
Derek Souter & Ian Falconer.