Dunfermline Athletic are celebrating one of the most significant days in their 128-year history after fans’ group Pars United officially gained control of the East End Park club.
After a fraught 202-day period of administration, documents transferring ownership from financial experts BDO to the successful fans’ group were finally signed on Tuesday night.
Liquidation was an ominous possibility as recently as last Friday due to a dispute with former majority shareholder Gavin Masterton over the lease of the club’s Pitreavie training base.
However, having overcome that final hurdle, Pars United will be presented as the new owners of Dunfermline at a press conference, during which they will outline their plans for running Scotland’s latest community club.
Delighted Pars manager Jim Jefferies said: “It has been a bit of a drag over the last few weeks but everything getting resolved is terrific news and at long last, the club can get back on the right road.
“It will be a long journey and although it might take a long while, we will work hard to take Dunfermline back to where it belongs and we’ll do it in a prudent manner. Lessons have been learned.
“The most important thing is that Dunfermline Athletic survives. A lot of people have lost their jobs in the last six months and a lot of people have worked very hard to keep the club afloat and keep it viable.
“For a good while it looked like it would not be possible for this club to survive and although there are challenges ahead, everyone the supporters, the staff, Pars United can be very proud today.”
The Fife outfit were plunged into administration in March in the face of a winding-up order by Her Majesty’s Revenue and Customs (HMRC) over arrears amounting to £134,000.
Nine senior players and assistant manager Gerry McCabe were made redundant and Jefferies’ team were subsequently relegated to the new-look Scottish League One after suffering a 15-point deduction as punishment for incurring an insolvency event.
Facing liquidation, Pars United, the umbrella group of individual fans’ and supporters’ organisations, were successful in receiving enough support from creditors to push through a Company Voluntary Arrangement (CVA) at the end of July.
However, BDO were still in day-to-day control of the club until Wednesday.
Bryan Jackson, of BDO, said: “That the CVA and successful transfer of ownership has been achieved in under six months is a testament to Pars United and we wish them the very best in the running of Dunfermline.”