Dundee boss John Brown’s budget has been “significantly improved” as moves towards a new regime at Dens Park start to gather pace.
As expected, the club confirmed that former finance director Ian Crighton is back on the board following the agreement of revised Heads of Terms with US investors Football Partners Scotland late on Monday.
Although the signing of the paperwork does not guarantee an immediate injection of funds, the club’s board have agreed to boost the playing budget accordingly in anticipation of the takeover being formally completed in just under a month’s time.
The first paperwork was due to be signed on Friday evening but that did not take place as planned, prompting Brown to accuse directors Dave Forbes and Fraser MacDonald of dragging their heels and potentially costing the club new signings.
However, the paperwork relating to the proposed investment by the Texas consortium has now been done.
In a statement, the club said the increased budget agreed following a board meeting on Tuesday night would allow Brown to finalise his playing staff for the forthcoming season.
“It is hoped that signing targets that have been identified by the manager can now be secured to ensure he has a full complement of players going into the series of pre-season games,” the statement added.
“The board are now progressing with arrangements for a general meeting to consider the proposed injection of funds from FPS.
“Dundee FC Supporters’ Society are also progressing with the staging of an election and special general meeting to provide their members with the opportunity to vote on the offer and the consequent reduction in their shareholding.”
Crighton’s return to the board represents a significant step in the long-running takeover saga, as it was he who quit along with fellow directors Bill Colvin and Steve Martin due to the lack of progress with their plans.
While Colvin and Martin are expected to return when the takeover is completed, Dundee chief executive Scot Gardiner suggested Crighton’s immediate return to the boardroom was vital.
“We require his skill set,” he admitted.
“You can’t run without a financial director, it’s impossible. We need that and we’re coming into a busy time.”
Gardiner also explained that the club was now entering a “technical transitional period” as due process had to be followed behind the scenes.
He noted: “There’s no transition with regards the running of the club because while this transitional period is between now and when it finally gets done, we’ll carry on as normal.
“But the articles of association had to be changed according to the new shareholding and the new share issue because effectively we are having to create new shares in order so that the money all comes into the club and you are not buying shares from anybody else.
“That process will run parallel with whatever the society has to do in writing out to its members and we as a football club will write out to our shareholders informing them of this situation. Once the shares go through, then there will be a board meeting. At the completion of the deal there will have to be a board meeting.
“At that stage, that board will then decide where it’s at personnel-wise going forward. There may well be special general meetings from the society which will also dictate who can or cannot be on the board from their point of view, but we don’t have anything to do with that.”