The Dundee FC Supporters' Society today announced a new postal ballot would take place, asking members for their consent to a plan to bring in fresh working capital, a move which could result in the Society's shareholding dropping below 50%.
Society Chairman Scott Glenday explained "We’re obviously keen to see everyone move forward together and to do what’s best for Dundee Football Club. In terms of attracting funding and potentially reducing the collective shareholding the fans currently hold, people need to understand that over the last few months sums of money we thought we’d receive as a Club have in places reduced and some of the costs have increased. That’s been far from ideal, but what we can say is that we will have a go on the park this season and live within our means off it and that is what we set our stall out to do.
"In terms of forward planning what we hope to achieve is to put an initiative in place that looks further ahead than the end of this season and as a result, the Club board put together a proposal that was unanimously supported at the weekend by all of the Society and the Club's directors. In both business and life in general, circumstances can change and it's normal for companies and people alike to review any situation regularly. What's different here is that we as directors need to ballot the Society's members, rather than just asking a few people in a boardroom.
"Full details of what is now a joint proposal and a snapshot of the current finances will be released on or before the Society AGM on the 10th December. We hope to offer fans, business people and supporters groups alike an opportunity to invest in the Club in the New Year, and our aim is to generate a significant six figure sum. We’ve already had talks with several individuals who may be willing to underwrite a scheme that will see the money pledged by ordinary fans matched on at the very least a pound for pound basis. We’re also having a look at our options regarding the vacant position of Club Chairman and hoping that someone with experience, contacts and funding can be identified and brought on board in the very near future.
"All in all it’s a very interesting time for everyone connected with the Club, we’re coming off three back to back wins and the support the team continues to receive from the stands has been nothing short of amazing. To maintain an average home gate of over four thousand in the seventh year in the SFL is a credit to everyone who has stuck by them. We had around a thousand at Stirling on Saturday and I think with the visit of high flying Falkirk this week to Dens it would not be unrealistic to expect a gate nearer the five thousand mark. The team are on the up, the Dee-fiant spirit that was the trademark of last season's tremendous run is returning and a win this weekend could see us go as high as third in the table. There’s a long way to go and our chances of mounting a challenge would be helped by as many fans as possible getting along to the games when they can and giving the players their support - that would be no less than they deserve for their efforts of late."