Kind regards and happy new year to you all
Graeme Jack
hatch-group in Scotland
Statement from Tom Burton, Ernst & Young,
Administrator, Dundee Football Club
GAVIN RAE - TRANSFER FEE AGREED
The transfer of Scottish international midfielder Gavin Rae to Rangers FC and other fund-raising initiatives by supporters, the club and its Directors has given Dundee FC a realistic chance of survival.
"The club had a value in mind when we entered negotiations to sell the player, and I am pleased to say that we have achieved this valuation." said Tom Burton, Ernst & Young, Administrator, Dundee Football Club.
"In a footballing sense, the loss of Gavin to this club is significant, but the impact on the club's situation is also very significant.
"We completed this transfer on our terms, and if we have to consider any further transfer activity in January this will only happen where the terms are acceptable to the club.
"Gavin recognised that his move could help to ease the situation we face here, and his professionalism throughout this period has been exemplary. He leaves this club with our best wishes for the future."
Ends... 30 December 2003
Issued on behalf of Ernst & Young by Graeme Jack, hatch-group.