Quote Originally Posted by islaydarkblue View Post
Last night I was looking at old topics on the Dark Blues Forum from December/January 2023.
I came across one topic about the Directors of Dark Blue Property Holdings Limited borrowing money from the Isle of Man based financial company Soho Green paying interest rates of between 9% and 24% per annum.
One poster thought that Soho Green were lead company supplying finance for the new stadium development at Campy Nou with other companies providing other finance for the project. The Directors of Dark Blue Property Holdings Limited put up the 29.7 acres Cammy Nou site plus the entrance to the former NCR Camperdown factory as security for their loan.
Interestingly the Directors of Sandeman Properties Limited have since 3rd October 2023 borrowed money from Soho Green paying interest rates of between 11.40% and 24% per annum with the Dens Park Stadium put up as security for this loan.
I raised my concerns about the Directors of Sandeman Properties Limited (Tim Keyes and John Nelms) borrowing money from Soho Green at eye watering interest rates and putting up the Dens Park Stadium as security for their loan at the Q and A section of the recent Dee4life AGM.
If the loan is not repaid then Soho Green will own Dens Park and they would likely sell it to the highest bidder to cut their losses.
It was also mentioned during the Q and A section of the meeting that based on current interest rates and borrowing costs the annual rent that Dundee Football Club would have to pay to use the new stadium would be higher than their current annual turnover.
I was hoping that we might have some comment about the actual note of the meeting and some helpful suggestions to help boost the number of supporters who join Dee4life. It seems to me that our club lacks a unifying supporters organisation that can take strategic decisions. DSA is an effective umbrella organisation but I don't think it can do much more than it is already doing. I think we need more.