Dundee United owner Mark Ogren has been busy since arriving in Scotland last Friday.
He took in Brechin City’s Scottish Cup tie against Hearts mere hours after touching down, oversaw the signings of Ruari Paton and Lewis Fiorini and was a pained observer as the Tangerines lost 1-0 to Dundee on Monday.
Ogren will meet with the assembled Dundee United Supporters’ Group (DUSG) on Thursday evening but, before that, the Tangerines will hold their annual general meeting (AGM) at Tannadice at 11am.
In additional to the formal (and due to Ogren’s vast majority shareholding; completely routine) business of ratifying accounts and appointing directors, Courier Sport assesses some of the topics which could be forefront on shareholders’ minds.
Have there been any official approaches to buy Dundee United?
Back in October, reports in Denmark suggested that billionaire ASOS tycoon Anders Holch Povlsen was interested in purchasing a stake in United.
Povlsen, a resident of the Highlands and briefly in talks regarding a takeover of administration-hit League One side Inverness, already owns FC Midtjylland in his homeland.
The “Football Collective” arm of his business also counts Portuguese second tier side CD Mafra, Nigerian talent academy FC Ebedei and Danish lower league side FC Fredericia among its number.
However, Tannadice sources told Courier Sport at the time that no contact had been made.
Ogren confirmed in a letter to shareholders last year – as part of a share issue launched by the club – that, “while there have been some discussions with potential investors, we have no agreements in place with anyone at this time.”
It is inevitable that the Arabs gathered in Lounge 87 will want to know whether there is any veracity in Povlsen’s pursuit, as well as persistent links to Brentford owner Matthew Benham and any other interested parties.
Does the commitment remain strong in the face of another year of losses?
United posted a £2.8 million loss – albeit an operating loss of £2.3 million – and their turnover dropped by £1.7 million following a campaign in the Championship.
The numbers were relatively heartening considering the financial collapse which COULD have occurred after United were relegated with an eye-watering wage bill of £6.9 million.
Necessary cost-cutting, smart recruitment and strong commercial performance – including superb support from the fans through season ticket purchases, hospitality and merchandise sales – meant the Tangerines stemmed the bleeding.
Nevertheless, it was another year of losses and, while it is understood the accounts for the year ending June 2025 are shaping up to be far more positive, Scottish football remains a hellish marketplace for anyone with designs on making money.
You couldn’t blame Ogren if he was eyeing an exit strategy.
He certainly appears to be crafting a saleable proposition. United are back in the top-flight, challenging for Europe, have a modest salary base and their attendances are stronger than ever.
The 2024 share issue saw Ogren’s parent company OPG-4 UK Ltd exchange more than £5m of what he is owed by the club for £1.32m of ordinary shares worth 10p each, reducing the debt from £10.1 million to £6.6 million.
Again, it strengthens the balance sheet – and increases Ogren’s overall shareholding – if a viable suitor comes along.
It’ll be interesting to hear what the future holds for United – and Ogren, personally, from the man himself.
Transfer window talk
In reality, Ogren is unlikely to linger too long on talk of investment or selling up.
Last year’s AGM was characterised by him underlining his continued enthusiasm and support. There have been no whispers to suggest this year’s message will be any different.
So, looking ahead – albeit not too far ahead – the time of the year means that plenty of shareholders will have an eye on the machinations of the transfer window.
While CEO Luigi Capuano is empowered to oversee the day-to-day running of the club, Ogren remains the man who signs the cheques, and one suspects he could be asked to field questions about what lies in store for the remainder of the month.
With the carrot of top six football – and perhaps a European push – looming, will he fund further additions beyond the loan arrivals of Ruari Paton and Lewis Fiorini?
And with the club braced for an approach for Kevin Holt from ambitious Derry City, will United hold on to their key assets this month?
An Academy revamp – and keeping the best kids
Since Ogren last addressed a United AGM, it has been all change at the academy.
Scott Allison has replaced Paul Cowie as the club’s head of academy and, in an exclusive interview with Courier Sport, made it crystal clear that, “we all want to see these boys playing for Dundee United. That is incredibly high on our agenda.”
The hope is that top class coaching, facilities and an established, visible pathway to first-team football will help to stop the exodus of young talent to England; something that afflicts all Scottish sides, not just United.
The early signs are good. Jamie Forrest, 16, has penned a contract until the summer of 2027 despite interest from Fulham. It is understood Owen Stirton and Sam Cleall-Harding see their immediate futures at Tannadice.
In the same breath, players WILL still depart at a young age; some before even kicking a ball for United. Those are the realities of modern football, particularly in the aftermath of Brexit as English sides seek to make regular raids north of the border.
Having already ploughed £4.5 million into the United academy, youth development will – as always – be a talking point when Ogren comes to town.
Any “projects” in the pipeline?
The relationship between United and the Dundee United Supporters’ Foundation (DUSF) is at something of an impasse. No acrimony or ill-will; just inertia.
Ogren has expressed a desire to embark upon a new “project” with the fans’ group, who contributed £382,000 to the redevelopment of Foundation Park, formerly Gussie Park.
The United chief also suggested in correspondence to DUSF members that he had been told the group “…were interested in acquiring shares either while I owned the club or via ‘stockpiling’ funds to ‘influence’ decision making with a future owner.”
Ogren dismissed the notion of selling any of his majority shareholding.
DUSF sources have disputed that characterisation of events.
Nevertheless, it would be illuminating to hear Ogren’s current thoughts on the relationship, and whether the members are likely to have any new projects to vote on in the near-to medium-term future.
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