| This afternoon papers were being lodged at the Court of Session in Edinburgh and Companies House to end formally the period of administration which has existed since November.
They were able to do that after agreement had been reached with creditors and a new cash injection of £6 million from the Marrs was also agreed.
While many supporters of the Dark Blues will be celebrating the end of a period that saw the club hover on the brink of closure, the man who will step down as chairman in the next few weeks saw no reason for jubilation.
“I do not believe coming out of administration should be a cause for celebration, but rather that the hard work, loyalty and energy of our staff, our fans and the administrator has turned the club around when many predicted it couldn’t be done,” he said.
“The people we are most pleased for are the supporters. They have had to endure a great deal since November. Their response to our plight in the form of Dee 4 Life will always be part of Dundee’s folklore and a change proposed at board level will give them an even stronger voice in the way the club runs it affairs.
“It is my hope that we can now all move on. Dundee fans hold the future of their club in their own hands and it is only by continuing to demonstrate that personal loyalty to the club by buying season tickets that we will be able to meet the challenges and exploit the many opportunities that lie ahead.
“I make no apology for repeating that plea to fans. If you have not yet bought a season ticket please do so now — the future of Dundee FC depends on it.”
The end of administration will herald major boardroom changes at Dens Park. The most obvious change will see Jimmy Marr stepping down to be replaced as chairman by Bob Brannan.
An EGM will be called and in all five new directors will be appointed.
And although the club may no longer be in immediate danger of closure tough times lie ahead as they ensure that from now on the books are balanced.
Even the cost of administration itself has been a burden and it was revealed today that fees paid to administrators Ernst & Young and solicitors Dundas & Wilson amounted to somewhere in the region of £750,000 – money that was lodged by the Marr brothers. |
