Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

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 – agourley@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Altrincham FC Seek New Investment

Thu 13th Jul 2017 | Clubs Ownership

At a recent Extraordinary General Meeting, the shareholders of Altrincham Football Club passed a series of motions which will now allow the club to bring in new investors. A new controlling share in...

Hartlepool United Announced Club Restructure

Wed 28th Jun 2017 | Clubs Ownership

Hartlepool United Chairman, Pam Duxbury has announced the first phase of the club’s restructure following relegation to the National League and subsequent resignation of Gary Coxall. Coxall...

Chinese company 5USport buy stake in Northampton Town

Mon 26th Jun 2017 | Clubs Ownership

Northampton Town Football Club have announced a new partnership with 5USport, a Sports Development and Education Company based in Guangzhou, China. As part of this partnership and following approval...

Leyton Orient purchased by business consortium headed by Nigel Travis, a life-long fan of the club

Fri 23rd Jun 2017 | Clubs Ownership

Leyton Orient Football Club has announced that it has been purchased by a business consortium Eagle Investments 2017 Limited, headed by British-born Nigel Travis, 67, the Chairman and CEO of Dunkin'...