Agreement has finally been reached that will see the Keyes Capital investment in Dundee FC proceed.
The Texas-based consortium headed by Tim Keyes and John Nelms and supported by former Dens directors Bill Colvin, Steve Martin and Ian Crighton have been informed that the deal is on.
After weeks of to-ing and fro-ing, the Dundee FC Supporters’ Society and the Keyes group have reached a compromise that will see £650,000 ploughed into Dundee at the earliest opportunity, with around double that to follow over time.
Once a shareholders’ meeting is held to, in all likelihood, rubber-stamp the blueprint, Colvin will increase his already considerable stake, while Martin will also boost his shareholding. Those two men as well as Crighton are expected to return to the board.
Nelms will also become a director and will be based in Scotland as the club strives to transform its youth set-up.
Under the new regime, the society will still be represented on the board and will retain around a 25% shareholding in the Dark Blues.
Legal loose ends have still to be tied up and the green light will have to be given at the shareholders’ meeting to approve the issue of new shares.
However, there is a new team at Dens now and they will speak with an American accent.
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