Dunfermline Athletic have edged closer to new ownership after an ‘in principle agreement’ was struck for DAFC Fussball GmbH to purchase a majority shareholding in the club.
The German investors already possess a 30 per cent stake in the Fife outfit and have made a financial contribution amounting to six figures over the past year.
As part of the initial agreement between the parties, the group has an option to increase that to a 75.1 per cent holding by May 31, 2022.
However, Pars chairman Ross McArthur has confirmed that plans are in place to expedite that process.
DAFC Fussball GmbH are fronted by former St Pauli player, coach and director Thomas Meggle, ex-Davis Cup tennis professional Damir Keretic, Nick Teller and Dr Albrecht Gundermann.
McArthur, in a statement to supporters, wrote: “Despite the fact that our new investors have not been able to travel and their plans for the club have been hindered by Covid, their commitment to our club has not wavered.
“We have built up a very good and positive working relationship supported by our mutual trust and respect for one another.
“DAFC Fussball GmbH has an option to acquire a further 45.1% of the DAFC share capital by 31 May 2022, however I am very pleased to say that we have reached an in principle agreement on the early exercise of that option.”
McArthur revealed that the reason for the acceleration of the process is largely to allow the club to ‘commit to the funding of our own training ground’.
The impending cash injection from the investors will be pivotal to that process.
He added: “We are currently in the final stages of securing a site for our training base, which will allow us to properly to develop young players and bring together all the constituent parts of our club.”
McArthur, meanwhile, confirmed that Dunfermline will launch their season tickets on June 9, with the hope that a minimum of 2000 supporters will be able to attend matches at East End Park.
