Dunfermline’s principal investors have left supporters stunned after announcing they have put their stake in the club up for sale.
In a move that has taken Pars officials and staff by surprise, the Germany-based shareholders are seeking to end their three-year stint at the helm.
DAFC Fussball GmbH agreed to purchase a 75.1 per cent stake in the Fife outfit in July 2021 after initially investing in the club the previous year.
With the coronavirus pandemic subsequently delaying their takeover, the group have operated as de facto owners since then and have the option to increase their stake to 80 per cent by converting loans to shares.
In a lengthy statement, they have said that ‘recent events have greatly contributed to this decision’, citing unrest amongst supporters over results on the pitch.
But, revealing that ‘many parties’ have approached them previously over a possible sale, they are convinced there will be ‘no shortage of interest in the club’.
The statement reads: “It is with sadness and regret that we announce today that after four years of involvement we shall be putting our stake in Dunfermline Athletic Football Club up for sale.
“Recent events at the club have greatly contributed to this decision being made now.
“We made our first investment into the club in August 2020, in the middle of the pandemic and at a time when there was massive uncertainty in the world, let alone in the world of football with games behind closed doors becoming the norm.
“We did this to show the trust and commitment we felt towards the club and which had developed from everyone we had dealt with at the club.
“Many considered us foolish at the time for doing so. By the same token it was a great coup for the club to have secured investment in such an uncertain environment.”
Building blocks
The group go on to celebrate their investment in the club’s new training ground at Rosyth and revamped youth academy, as well as the professionalising of the club and steering the return from relegation to League One.
They also claim that consolidation in the Championship last season was ‘an achievement in itself’.
However, they add: “Nevertheless we have felt for a while now, probably since the middle of last season, that long-term planning and putting in place the building blocks for future success is not what many are looking for.
“Many seem to prefer an investor who has deep pockets to throw at the first team and try for the best over and over again each season.
“We said from the start that we are not this kind of investor and therefore have detected an increasing disappointment in our approach.
“Perhaps, therefore, we are not the right kind of investor in the eyes of many at the club.”
The arrival of fresh finance in 2020 had been hailed as ‘exciting’ by previous chairman Ross McArthur.
But the relationship has clearly soured between the Hamburg-based consortium and the club and its supporters in recent times.
Ironically, the principal investors have revealed they have released new funds to strengthen James McPake’s thin squad and insist their approach does not ‘lack ambition.
The statement continues: “This season was the year in which we wanted to consolidate the experience in the squad, add young, motivated players from our own youth development and make a few additional key signings.
No lack of ambition
“The aim has always been to get to 44 points as soon as possible. After achieving this, further aims may be considered.
“This does not represent a lack of ambition, as many seem to believe, but the wish to build the squad in a sustainable fashion and to add strength as and when required.
“Success comes from being able to plan and build over time, even if there are hiccups along the way. Rushing things, or simply spending more money is not a sustainable model and we have not stood for this from the start.
“If much more is expected this itself puts additional pressure on the management and the squad with each game not won. The knee-jerk reaction to call for more spending is not a model we stand for.”
They conclude: “We are not so naive as not to realise that football is emotional. That is why we love it so much.
“But the speed with which last year’s heroes become this year’s discards, last year’s cleverness becomes this year’s inability is difficult for us to understand and, for us, makes our strategy of longer-term planning and building nearly impossible.
“Over the coming weeks we and the other directors of the club shall be having discussions on the sale of our stake with some of the many parties who have approached us already over the past years and, of course, in coordination with PUCIC (Pars United CIC) who are, as of now, still the majority owners of your club.
“We have every reason to believe that there will be no shortage of interest in the club.
“In the meantime, of course all of us on the board have recognised that the current squad needs to be strengthened in several areas for reasons of both quality and depth. We are more than aware of this.
No sour grapes
“At a board meeting held on Monday 12 August, resources have been made available to the management team to make sensible additions both by way of signings and by way of the now gradually active loan market.
“We will continue to work hard with the rest of the board and the management team to make sure we do well this season.
“To finish, let us reiterate again that we have made many new friends here in Dunfermline, many have welcomed us and appreciated the effort we have made and we sincerely hope to continue these friendships into the future.
“There are absolutely no “sour grapes” or similar in our decision to sell our stake in the club.
“Perhaps it is just the realisation that the realities of Scottish football are as they are and that we may not be the right investment group for your club.”
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