Dundee exit administration
Fri 13th May 2011 | Football Club Administration
Dundee Football Club announced yesterday that the club has formally exited administration after the relevant paperwork was lodged at the Court of Session in Edinburgh.
The club’s exit means that Bryan Jackson of corporate recovery firm PKF will no longer have responsibility for the running of the club.
Control of day-to-day affairs will now pass to the new club board comprising Chairman Stuart Murphy, Chief Executive Harry MacLean, and directors Jim Thomson, Mark Gallacher, Steve Martin, Scott Glenday and Maurice Kidd when they are formally appointed on Friday.
Dundee’s new board consists of representatives of the Dundee FC Supporters’ Society and Dark Blues Business Trust as well as executive directors and a new financial director.
Chief Executive, Harry MacLean was quick to point out that the club has only been able to survive the ravages of administration because of the togetherness shown by everyone with the best interests of the club at heart.
“The outstanding support from the fans, DFCSS, DBBT, external investment and Club activities has meant we have been able to survive the past seven months, pass a CVA and get to the stage where we can take control once again and look to a sustainable future,” he said in a statement on the club’s website..
“The administration period has been painful for everyone connected with the club and we can never forget that people lost jobs and money as a result of what happened. We cannot change the past, however, and we must now look to the future and begin a new chapter in the history of Dundee FC.
“We would not have had any kind of future to look forward to without the magnificent efforts of the players, staff, management and fans and we thank everyone who helped us get to here. We will do all we can to support Barry Smith in his efforts to build a team to be proud of but are acutely aware that the future of the club can never be jeopardised again.
“Sustainability and transparency may not be the most exciting words in the footballing vocabulary but they will be at the heart of this club from now on. What is clear from all of the discussions that we have had is that we cannot simply copy what has gone on at other clubs but that we need to write a new way of doing things with the help of the whole community.
“Thanks once again to everyone who helped make this possible. Over the past seven months we’ve shown what can be achieved through togetherness and if everyone continues to display this kind of spirit then Dundee can not only survive but also prosper in the longer term.”
Stuart Murphy, the new chairman and a DFCSS representative, said, "Obviously we are delighted to be looking to the future and, on this day, want to thank the fans who raised a huge sum of money to help make this possible.
“Without the efforts of the ordinary man in the street we would not be in this position today. We've come a long way since those dark days back in October and are now looking to an exciting new era with players, fans, staff, businesses and the wider community continuing to pull together. On behalf of the DFCSS I would like to thank everyone for their unstinting support throughout that dark period.
“We can't change what has gone before but it will for evermore serve as a sobering reminder of the huge responsibility this new management structure has in protecting the long term future of the football club. The people have provided a platform for us to consolidate that future and we owe it to them to ensure that's exactly what happens. The bond between supporter and club has never been stronger and we can build on that as we establish ourselves as a true Community Club for generations to come with innovative ways of partnership working.”
Steve Martin, DBBT representative on the board, added, "This is excellent news for Dundee supporters everywhere and we're really excited to be working with everyone at the club and DFCSS as we move on. Everyone connected with Dundee has worked miracles to save the club and should be rightly proud of themselves today."
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