Dundee FC fans voice concerns over club's financial future
Mon 7th Jun 2010 | Money & Finance
Supporters’ group Dee4Life have voiced their concerns over the financial welfare of Dundee Football Club.
It’s understood that a letter from the Dee4Life Trust to its members is calling for the club to be run in a more sustainable manner.
This comes only a week after chairman Bob Brannan warned of budget cuts for next season
According to the BBC Dee4LifeTrust chairman Scott Glenday warned in the letter the "The club's auditors rightly expressed their doubts over the club's viability as a going concern," he said.
"After our own experience, and what's happened over the last few years whether at Rangers and Portsmouth or Livingston and Gretna, Dee4Life would reiterate the belief that Dundee Football Club must operate in a sustainable manner."
The letter to trust members pointed out the dangers of relying on wealthy individuals to sustain the club.
"Even if losses are offset by donations from one or more directors, it's for sure that that can only last so long.
"With a much higher wage bill than in recent years, lengthy contracts, and no guarantee of promotion, the club cannot be dependent on one person's goodwill - even with the best of intentions, experience at other clubs has shown this is not a safe or sustainable way to run a business."
Dundee's major investor, Calum Melville, is thought to have pumped around £1.3m into last season's unsuccessful promotion campaign.
He has already indicated that he will not be spending the same amount of money next season on the club.
Last week Brannan, who is set to stand down as chairman, called on fans to give increased financial backing next season.
"If the fans don't get behind the club, there will be no club," Brannan told BBC Scotland.
"Calum Melville is still very supportive, but the budget has to be at a more realistic level."
Don’t forget to subscribe to F.C. Business Magazine to keep up to date with the latest comment from the football world. Click here to subscribe
Thu 9th Mar 2017 | Money & Finance
Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...
Thu 2nd Mar 2017 | Money & Finance
Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...
Wed 1st Mar 2017 | Money & Finance
Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...