Question 2, asked by Douglas Tott from Islay: What sort of monies are in total going to be lodged by outside investors?
Stuart Murphy, after thanking Douglas for travelling (and joking that it’s just as well his passport was current) replied “there are various potential sums but this is not fixed or something we can divulge just now. It would be inappropriate to comment at this stage” before adding that “if we were to assume an investor came along with £100,000 – do fans really want to give up their birth right for £100,000?”
Douglas followed up by stating that he believed, after doing some investigation, that Dundee FC were sitting on a tax credit of some £4.7million. Is this accurate and if so someone should be looking at it – especially if someone bought the club, it would be worth over £1million?
Dundee FC Chief Executive Harry MacLean answered “the Tax Credit is purely down to a reorganisation of the previous companies. As a Club Board we will take it on board and look into it.”
Next question came from David Ellis of the Capital Dark Blues: The Capital Dark Blues are fully supportive of Community ownership and of the Dundee FC Supporters’ Society retaining 51% of the shares in Dundee FC. The Capital Dark Blues bought shares in Dundee FC because we believe in fan ownership, we wanted influence but also wanted responsibility, not to see the club in the hands of a rich individual. We have to live within our means and if that means cutting back, so be it. Will potential investors only put money in, in return for shares?
Stuart Murphy replied “We don’t know. We can’t be sure at all. But what this is about is a policy decision for the future, because make no mistake, the question will be asked in the future, and we need to have a mandate so we know how to react to it when it is asked.”
David added that, voting as a club, the Capital Dark Blues would vote to live within our means.
Scott Glenday agreed, “We have to live within our means , those who don’t or depend on a single benefactor must realise it can’t go one forever . From a Society point of view I would like to see more people put pressure on us and ask questions re the Club but they must be offered through the proper channels. There’s a huge responsibility on our shoulders, and I cannot stress how proud I am of the Dundee fans’ efforts. I’ve been involved in fans groups now for around ten years and I have to tell you the feeling of pride, passion and responsibility I felt when the team kicked off this season’s league campaign at Partick has never been greater.
"We’ve been entrusted with the Football Club and have no intentions of doing anything other than what is best for the fans and the Club itself. It is possible to satisfy two camps though. There’s plenty of scope to attract more investment and retain 51%, and I am confident that both boxes can be ticked if we do it properly.
Bob Donald of the Aberdeen Dark Blues then asked “Is there a possibility to sell a different class of shares that don’t come with voting rights?”
Again, Scott Glenday answered first “we need a mandate from the fans first. Once that’s done we can take it from there and consider various options. We’re going into this with an open mind and working on a blank canvas, all avenues will be explored, but if we can attract investment and protect ownership of the Club for the supporters then I think most people would regard that as a success.
Stuart Murphy added “I’ve been engaging with a solicitor in Glasgow to get advice – we’re looking at getting an external valuation of the football club done, although this is a difficult thing to do because it’s a football club. However what I’ve been told is ‘our imagination is our only limit’ – I will revisit this and explore further in the near future.”