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The 3 companies that are set up:
(a) DFC (Football Company): £0 debt
(b) Sandeman Properties (Stadium): £3m debt
(c) Dee-lite :£4m debt
Any cash generated from cup runs to semi-finals or finals, a percentage goes to offset the mortgage with Sandeman (£3m debt).
Any cash generated from player sales over £750k, a percentage goes to offset the debt with Dee-lite (£4m).
Any cash generated from sale of land behind The Derry, the money goes directly to the Football Club (£zero debt).
2. SELLING OFF LAND @ DENS ROAD:
Bob Brannan said that J&E Sheperd have been appointed as the agents for this project. Sheperds have had approaches from over 10 contractors very interested in developing the site.
Sheperds to liase with DFC at the end of October once all interested parties have submitted their plans.
All contractors have been instructed to design flats and a new South Stand (Derry) as part of their submission.
Benefit of this project is having a new stand AND a cash injection into the Football Club (not Sandeman or Dee-lite).
3. SEASON TICKETS:
Sales currently stand at 2,100 which was what they stood at this time last year. The total sales last year eventually reached 2,500 after Christmas.
4. DFC HOLDINGS / CHAIRMAN'S CLUB:
Our current company will be dissolved roughly six months after the EGM has been called in October.
Cash from shares (Brannan expects around £250k in income) from interested businessmen will be held as loans until DFC Holdings is dissolved and the new 3 company set-up gets off and running.
5. PLAYER SALES:
Bob Brannan disclosed that we had an offer from Norwich City for £70k for Paul Dixon which was nowhere near the board's valuation.
6. 2007/08 BUDGET:
Current projections flag up a shortfall of £300k for this current season. However this doesn't include income from cup runs, income from player sales, income from Chairman's Club or income from land at Dens Road.
Dave McKinnon also says the club expect a 20% increase in income from the away support this season.
7. SFL IRN BRU SPONSORSHIP:
Dave McKinnon and Bob Brannan totally rubbished the deal. This was trumpeted in the papers as a £3m deal by Longmuir(SFL Ch Exec) but Dundee as a club only get £11k from this!!
8. TV DEAL FOR SFL:
Dave McKinnon said that there is a deal to be done but for whatever reason the SFL are dragging their heels on this. McKinnon actually spoke to SETANTA today and they are very keen to get involved but as yet no agreement has been reached.
Dave McKinnon annoyed at this as it indirectly costs the club money..............i.e. if DFC gemmes are televised then more income will be generated from sponsors. He got the impression from SETANTA that they will negotiate with the SFL for one-aff matches.................e.g. The Dees title decider at the end o' March
9. SPL 2
Dave McKinnon has stepped back from this but it is still very much alive. Got the distinct impression from DMcK and BB that they are less than impressed with the 'new SFL' and that SPL2 would still generate far more income for clubs such as DFC.