Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

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

Dundee United Complete Financial Restructuring

Mon 10th Feb 2014 | Money & Finance

Dundee United have completed a major restructuring of its financial position.

Following negotiations, the club has reached a settlement with its bankers, Bank of Scotland, to close off its debt position.

Chairman Stephen Thompson said, "In recent years we have worked closely with the Bank to reduce our term loan debt by almost half, from a peak of £6m to just over £3m today, whilst at the same time continuing to trade and operate the business as normal in a highly competitive and difficult market.

“At times this has been challenging, but we have risen to this challenge and are now in a position whereby we feel able to operate the business without any further reliance on bank lending. The Bank has been fully supportive of our position and has co-operated fully with our request to discharge the debt and release the standard security held over the club's property."

The Chairman added, "Importantly, this restructuring will also allow us to utilise the Club's assets to a greater extent for the benefit of the local community and we will be providing details of our plans for this over the coming weeks."

Posted by: Aaron Gourley

 

Icondia (Icondia-C-468x60.gif)
 
RETURN TO LATEST NEWS SECTION
SUBSCRIBE TO THE FCBUSINESS RSS FEED
 
If you have any football business related news stories you’d like to share then please contact us –
agourley@fcbusiness.co.uk

To subscribe to our range of football newsletters including news, products and jobs CLICK HERE.

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

Related Articles

How Football Clubs Source Their Revenue

Thu 22nd Jun 2017 | Money & Finance

It will come as a surprise to no one that football is big business these days. Although players’ wages – especially at the top teams – have increased remarkably, the clubs can pay...

“Why Does Your Club Offer Discounts?” 5 Responses

Tue 6th Jun 2017 | Money & Finance

Following my article last week on the 3 observations about discounts offered on football clubs’ merchandise stores ; I wanted to share some more insight in to the merchandise space. I’ve...

West Ham United announce record season ticket renewals

Thu 1st Jun 2017 | Money & Finance

West Ham United have announced a club record number of season ticket renewals for the 2017/18 Premier League campaign. At Wednesday's 5pm deadline, over 90% of the 52,000 season ticket holders at...

Footballers, their cars, and how many minutes of play it takes to pay for them

Thu 1st Jun 2017 | Money & Finance

Online used car dealership Carspring have researched the vehicles driven by more than 250 of the world’s leading football players. With this information, along with the estimated salaries of...