Fan Group Completes Acquisition Of Dunfermline Athletic FC
Wed 16th Oct 2013 | Clubs Ownership
Fan group, Pars United have today announced their formal takeover of Dunfermline Athletic Football Club (DAFC) from administrators BDO LLP, following completion of all of the relevant legal agreements.
The takeover now means the club can proceed towards coming out of administration, and papers will be provided to the Court of Session to conclude the statutory requirements.
In addition, at the same time, Pars United (EEP Limited) has acquired East End Park, from administrators KPMG.
Newly appointed Chairman, Bob Garmory said of the news of the takeover: “The last few months have been a painful and frustrating time for everyone connected with Dunfermline Athletic.
“However, we ask that all Pars Supporters and the wider West Fife community now look forward, not back, with a renewed sense of optimism and spirit.
“As previously stated, the Pars fans have already shown their resolve and support for saving the club and that now needs to continue going forward, particularly this season, to “Keep the Pars” as has been widely documented in the last week or so.
“We cannot lose the positive attitude, and sense of involvement and engagement amongst our core support. The fund raising effort of the Pars Supporters and Patrons has been nothing short of exceptional, particularly in such tough economic times. They really have been like a “12th Man” over the last few months.
“However, in terms of moving DAFC forward as a sustainable business there is still much to be done. Pars United has appointed an “interim” board of directors to the Club until the end of the 2013/14 season.”
Bob Garmory will be joined by Ian Hunter, Jim Leishman, Kip McBay, Craig McWhirter and Margaret Ross in an interim board to assess the exact resources required within the club in order to manage it day to day at its current level of professional football.
In the remaining course of the season, it will also be able to assess fully the workings of the club and any additional measures which are required to enhance and secure the future of DAFC.
Bob Garmory further added, “The responsibilities of the General Manager until the end of season will be shared by Ross McArthur and David McMorrine, both of whom are Patrons, and experienced businessmen.
“Ross has been the driving force behind Pars United and will continue to be responsible for the development of DAFC as a community club, in terms of marketing, fund raising and engaging with supporters.
“David has been serving as General Manager during the last few weeks of the administration and will now accept full responsibility for the day to day management of the club, for financial systems and for budgeting. Everyone will continue to offer their time and not be paid for their services.”
Pars United has been supported through its campaign by Supporters Direct Scotland (SDS) and Paul Goodwin Head of SDS said, "We’re delighted to see that another famous club has embraced a community ownership model, inspired by the dedication of all the Pars fans.
“We know that there are other clubs and fan groups looking very closely at greater community involvement as the ownership of clubs in Scotland evolves away from the conventional benefactor model."
Posted by: Aaron Gourley
To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.
If you have any football business related news stories you’d like to share then please contact us – firstname.lastname@example.org
Thu 23rd Mar 2017 | Clubs Ownership
Portsmouth Football Club has confirmed it’s in talks regarding a potential takeover. In a statement released by the club, they said: “Portsmouth Community Football Club would like to...
Thu 5th Jan 2017 | Clubs Ownership
Specialist Sports Law Team at Walker Morris reinforces its national reputation for football club acquisitions/sales with the latest sale of Leeds United FC. Specialist sports lawyers at Walker Morris...
Wed 4th Jan 2017 | Clubs Ownership
Aser Group Holding has completed its investment in Leeds United Football Club today. Leeds United Football Club has confirmed Aser Group Holding, through its acquisition vehicle Greenfield Investment...