Dundee FC Fans to Decide Club’s Fate

The Dundee FC board have left the decision on whether to accept an American takeover bid to the club’s fans.

After a two-hour meeting at Dens Park, the six-man board could not reach an agreement on the £700,000 investment offer from Keyes Capital. Two directors announced that the Scottish football club’s fans will make the final decision.

The Dundee FC Supporter’s Society, whch includes three club directors, are the majority shareholders. 

Texan investor Tim Keyes and his business partner are working with two other directors, Bill Colvin and Steve Martin, on the bid. Keyes Capital had initially set a dealine of Friday for a decision, though that is unlikely to be met. 

Steve Martin said: “It’s an open discussion. The Society are asking us about what the benefits are and it’s ongoing just now.

“They now have to go back to their supporters in the Society and take it forward.”

Dave Forbes, interim chairman of the Dundee FC Supporters Society, said he would put his views to the members and “let them respond to it as they think fit”.

If the sales does goe ahead, the Supporters Societ would retain a 30% shareholding and be represented on the club’s board.

The investment group is believed to be involved with a football academy in Austin, Texas and wish to follow a similar model in Dundee.

The club will be playing the Scottish First Division in the 2013/14 season after finishing last in the Scottish Premier League.