Dundee FC Supporters’ Society have dramatically postponed their proposed ballot on the Texas-backed buyout of Dundee FC.
Reasons given by the society for scrapping their June 15 special general meeting, at which a vote would have taken place, included having insufficient information available to them, the lack of a formal proposal from the Keyes group and the need for due diligence to be undertaken.
There will, however, be a meeting at Dens Park this weekend during which DFCSS officials will attempt to provide members with as much detail as they can. They stressed, though, that no vote will take place at what is nonetheless likely to be a lively gathering.
The society, who have three directors on the Dark Blues’ six-man board (Dave Forbes, Maurice Kidd and Fraser MacDonald), also revealed they have gone back to the consortium asking for further discussions between the parties.
They have hinted at “amicable dialogue” and a “solution” that would enable funds to quickly be made available to Dundee manager John Brown to sign up players on deals a key concern of bid backer John Nelms and other Keyes group supporters.
Saturday’s noon meeting of DFCSS members in the Andy Penman lounge will take place the day after the second deadline to accept the deal as put forward by Nelms just last weekend will have passed.
Therefore, two dates on which the Americans have sought a yes to their plan last Friday and this Friday will have slipped by without a decision from DFCSS.
In a statement issued, the society said: “Dundee FC Supporters’ Society today replied to the consortium of investors seeking to take control of Dundee Football Club, requesting additional information and inviting further dialogue.
“The society board have asked that they understand the requirement for due diligence to be conducted before any deal is agreed and requested their agreement to this, and a revision of the time limits they have placed on their offer, as these currently extend only to Friday May 31, which is insufficient either to conduct due diligence or to consult with our members on the proposed deal.
“The society board has also asked the consortium for more details including the proposed use of capital injected and the three-year business plans and cashflow projections which we have not yet had sight of, and asked if the consortium would be open to discussions regarding conditions and protected matters attached to this deal.
“Additionally, we have proposed a solution which would allow time to conclude proper due diligence and consultation while also providing an injection of funds to boost the first team budget, and requested ongoing amic-able dialogue between the parties.
“In light of the ongoing discussions and requests for information, the society agreed at its board meeting yesterday that it was not in a position to provide members with a formal proposal or sufficient information to vote on, and will therefore postpone the planned special general meeting which was planned for June 15.
“Dundee supporters are understandably keen for information and the society has therefore called a meeting this coming Saturday, June 1, in the Andy Penman Lounge at Dens Park at noon, although it should be stressed that no vote will be taken on the day.”