DAFC Fussball GmbH have opted against taking immediate ownership of Dunfermline Athletic.
However, the German investment group have injected a sizeable sum of money into the Pars’ coffers — and remain committed to seizing the reins once the hurdles of the Covid-19 pandemic have been overcome.
The consortium previously agreed to increase their shareholding to 75.1% by the end of 2021, having acquired 30% in September 2020.
However, that plan was scrapped amid the ongoing global landscape.
Dunfermline sources have told Courier Sport that DAFC Fussball GmbH feel it would be foolhardy to take control of the club when the individuals are struggling to visit Scotland on a regular basis.
Covid restrictions in Germany remain strict, causing frustration across the board — but proving particularly maddening for sporting director Thomas Meggle, who had intended to spend much of his time on the ground in Fife.
As such, Pars United CIC Ltd remain the club’s majority shareholders at 66.22%.
However, DAFC Fussball GmbH have injected significant capital — more than they were due to pay for the 75.1% stake in their original option — in the form of a Convertible Loan Note (CLN).
That has allowed Dunfermline to press forward with the construction of a new training base at Rosyth and launch their own youth academy.
The CLN is unsecured, interest free and can be converted into new shares at any point within five years in order to allow DAFC Fussball GmbH to take an 80% controlling stake in the club.
Game changer
A Dunfermline statement read: “It’s to GmbH’s great credit that they remained keen to provide the further investment capital but now prefer, at this stage, to do that without immediately acquiring control of the club.
“In reaching that conclusion, GmbH felt that, as a club focused on its local community, it was important that the entity controlling the club should be properly represented locally, certainly for so long as the current restrictions are in place.”
It added: “This represents the culmination of 30 months work, and provides our club with an opportunity to create a game changing infrastructure moving forward, which through time will allow us to gain a competitive advantage over similar sized clubs.”
