Dundee’s American owners have injected yet more cash into the coffers at Dens Park, bringing their total investment since buying the club to the
£2 million mark.
At a board meeting late last week, presided over by owner Tim Keyes, who is currently in the country, it was agreed Football Partners Scotland (FPS) would buy all remaining available Dark Blues shares at a price of £0.01 per share.
In total that comes to more than £500,000 to add to the several million Texas-based Keyes has ploughed in at Dens Park since he arrived five years ago.
With the club operating at a deficit, the Tele understands the cash is to help meet running costs and effectively converts debt into shares rather than using loans – a process they have used on a
number of occasions in the past.
We’ll have more on this in today’s Evening Telegraph.