'DEBT FREE' DUNDEE FC


MUZZ
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That's a veryt interesting article and really shows that if you are going to invest in football be prepared to get your fingers burned unless you are prudent. Maybe their only fault was they were too ambitious and lost their business acumen when it came to the game they call football.

Good to see them surviving because what would life have been like withoiut a New Year's Day 7-2.

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Even as far back as the sacking of Alan Kernaghan in April, secret discussions with the bank over setting the club free of the debt were at an advanced stage.

Yet they still tried to screw Kerny on a pay off!! B@rstewards.

How long before the brothers get their funds safely out of the country, protect their businesses then declare themselves personally bankrupt? :shock:

Once a Dundonian, always a Dundonian.

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I think it is utterly disgraceful that Dundee have just about got away with having a debt of £23 million. It is all very well saying it is good for the club and supporters, what about some of the people the £23 million pound was owed to? Conveniently forgotten about.

Dundee have essentially cheated by spending money they don't have and they have got away with it!! Why don't Saints start paying over rated has beens £20k a week just for a laugh and then a couple of years down the line declare themselves in "administration" and write off the debt?

To be perfectly honest I think the actions that were taken over a prolonged period of time meant that the club deserved to go under and I would not have shed a tear at that, local rivalry or not.

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I'm with Al C, Dundee cheated - not in a football sense, but in a financial one. They are a business that has never and will never make a profit but they were somehow allowed to continue to operate with huge debts while many of their employees and contractors were left out of pocket. I think it's great that we'll still have a Dundee to laugh at but I don't think any of their actions have been comendable.

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"On the 29 January 1992 the bank sat in the boardroom and told us they were shutting the place down. They said that as of the following day they wouldn't cash any of our cheques and that they wanted the money owed - about £850,000 - in full. That was my first surprise."

Dundee Chairman Ron Dixon, August 1993

"I'm a guy who likes a challenge. I'm a guy who likes things that are difficult to do. When you combine that with a need for adventure, a desire to but something back into the world, a love of sports, and a feeling that free enterprise can free men's souls, it's logical that I end up here and now, trying to do this."

Dundee's Canadian chairman Ron Dixon, eloquently explaining why he'd pumped over £5 million into the ailing Tayside club, August 1993.

They've been cheating 'death' for years... :evil:

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"Why not use the money that's being wasted on that [the redevelopment of Hampden Park] on some kind of gate equalisation to help the Kilmarnocks and the Dundees and the Particks and the Motherwells? Maybe then your clubs would be able to stop doing goofy and dishonest things just to survive.

Apart from Glasgow, every team is suffering. People are scared to let 100 years of history go into the toilet, chairmen come and go like the changing of the guard, and the rules are so archaic there has to be jiggery-pokery to stay afloat."

Former Dundee Chairman Ron Dixon sums things up, February 1998.

Please note the words "dishonest" and "jiggery-pokery".

Nothing has changed.

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"My political life has also brought me friendship with Yasser Arafat, Gerry Adams, Saddam Hussein and his son Uday. I am general sales agent for Yugoslavia for Iraqi Airways and visited His Excellency last year in Baghdad."

Prospective Dundee investor Giovanni Di Stefano fails to build a winning case for his defence amid claims of an alleged friendship with Serbian was crimes suspect Zelkjo Rasnatovic, 17 March 1999.

This is the same guy who represented Harold Shipman. 'Nuff said.

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:lol: Some more belters...

"We wasted a lot of money: £250,000 for Jim Leighton; £50,000 for Graham Rix; £80,000 for Paul Ritchie; £30,000 for Max Chirstie ( :shock: ). It was money flushed down the toilet and we have nothing to show for it. But that happened because the place was being run by a clique."

Ron Dixon, august 1993.

"I'm not here to be eighth or ninth. My intention is to win the Premier League. If I didn't think it was feasible I wouldn't have spent £1 million on players this week."

Ron Dixon, August 1993.

"I didn't realise how deep the dry rot at the club ran, but you don't run away at the first shot."

Ron Dixon, August 1993.

:lol::lol::lol:

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If anyone is due money from Peter Marr they better get it now as he has probably transfered all his assist to his brother & is taking on the 7 mil` debt in order to go bankrupt leaving another lot of poor sods out of pocket & Dundee still in business after debts of 30 mil`.

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ALEX RAE FOR THE JOB!

Dundee will also reveal details of their new restructuring plans as they aim for a debt-free start to next term.

The First Division outfit are also on the lookout for a new manager and Alex Rae has emerged as a possible candidate.

The 35-year-old midfielder is out of contract after two seasons at Rangers and is believed to be on a short-list compiled by MacKinnon.

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18/05/2006 - DEES SHAKE-UP UNDER WAY

Dundee owner Peter Marr has put over half of his shares in the club up for sale and hopes to raise £500,000 to fund the Dark Blues' First Division title push next season.

As part of a major restructuring plan Marr has stepped down from his position as chief executive to be replaced by former Kilmarnock general manager Dave MacKinnon, who will immediately begin the search for the club's new manager.

Marr is currently concluding negotiations with bankers Halifax Bank of Scotland which should see Dundee's £7million debt transferred from the club's accounts into his and the deeds to Dens Park passed into the hands of a charitable trust.

Dens will then be leased back over a 30 to 40-year period and the club will also retain all rights to earn money from non-football sources.

Former Dundee full-back MacKinnon's work began before he even set foot in Tayside this week and he has confirmed Rangers veteran Alex Rae is a leading candidate to replace Alan Kernaghan, who was sacked in April.

Rae has been touted as a player-manager with a more experienced coach in the Jocky Scott or Archie Knox mould drafted in alongside him. MacKinnon, who has been granted a seat on the board and appears to have been given carte blanche to appoint the new manager, said: "Alex is one of a few people I have in mind and a player-manager is definitely something I'm interested in.

"If you look at St Mirren they won the league with a leader like Andy Millen at the heart of the team. I don't think they would have won the title without him so that shows the value of leadership.

"The correct structure for Dundee at this time is to have someone with leadership qualities on the park, either as player-manager or player-coach, and an experienced man on the touchline.

"This club has a great infrastructure and some very talented young players but I think the influence has been missing, that's something I want to address."

However, MacKinnon admits it may be difficult to attract the right man and may fall back on a safe pair of hands, adding: "Nothing is set in tablets of stone.

"The possible player-coaches we're talking about might say it's not for me and that's fine.

"We would then have to revert to plan B which is looking for a good manager who's been over the course."

Marr has put a price of £500,000 on his shares and has invited fans' group Dee4Life to make a bid for them. The trust raised a six-figure sum in the months following administration and had hoped to be given Marr's stake when he departed but there is still room at the top table for them to buy influence.

However, Marr favours selling them to a number of investors so that no single party controls the club. He said: "Sixty per cent of the shares are up for sale and if Dee4Life want them they can have them. If they can raise the money we're looking for, which is around £500,000, then they can control the club.

"That's one option, although I would like a broader shareholding because of the problems having one dominant group brings.

"We have missed out on investment in the past because people looked at the business and thought the Marrs had too much say and that's something we need to avoid in future."

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