Mcpake/yanks

[islaydarkblue]

There are now no restrictions to the buy back of Dens Park which there were up to November 2018.
See Item 6 of the Sandeman Properties Limited Annual Accounts for the year ending 31st July 2018. https://find-and-update.company-info...filing-history

[Deeranged]

I enclose details of the Dee4life Trust board of directors meeting which was held on 9th July 2020. https://www.dee4life.com/files/15986...te09.07.20.pdf
I suggest that posters pay particular attention to Item 2 Secretary’s Report which explains the original plan for the operation of the 1893 Foundation which sadly the Club kept for themselves.
I am not a member of the 1893 Foundation as I believe that the money like other football clubs who operate a similar scheme should be earmarked for the team manager’s playing budget.
The money donated to the 1893 Foundation goes directly into the Dundee Football Club bank account and it could be spent on anything such as John Nelms’s latest trip to the States.
However I would be happy to donate a monthly direct debit payment to a fund raising scheme to buy back Dens Park from John Bennett.

I sat down with, and proposed something very similar to, Nelms and Crichton years ago which was rejected out of hand because only a percentage was going to the club and a percentage to a buy back plan - they wanted it all. Had they gone for that at the time Dens would likely be near enough back in our hands now. The excuse they used was that they needed a guaranteed amount of money every month in order to manage a budget, what they meant was that they believe any spare cash a Dundee fan has should be theirs.

This is one of the reasons I don't spend any more than my season ticket money on the club now, not even the 1893 foundation - they'd take every penny you have if you let them.

[jdfc]

There are now no restrictions to the buy back of Dens Park which there were up to November 2018.
See Item 6 of the Sandeman Properties Limited Annual Accounts for the year ending 31st July 2018. https://find-and-update.company-info...filing-history

Unfortunately the average fan doesn’t understand this, and I’m an average fan

[Returnofrros]

Unfortunately the average fan doesn’t understand this, and I’m an average fan

You ever watch yogi bear?

[BCram]

Unfortunately the average fan doesn’t understand this, and I’m an average fan

But you are like many many of us. Keen to help but wanting something to do that we actually believe will work for the benefit of the long term future of the club. Personally I think the tax loss situation is worthwhile for FPS.

[islaydarkblue]

Unfortunately the average fan doesn’t understand this, and I’m an average fan

I will try to explain Item 6 to you.
If Sandeman Properties had sold Dens Park before November 2018 they would have had to repay a Government grant of £1 million which was given to Dundee Football Club when the Bobby Cox and Bob Shankly stands were built.
The grant had a 20 year lifespan which ended in November 2018.
You may remember that when FPS purchased a majority shareholding in Dundee Football Club Limited in August 2013 they stated that they would buy back Dens Park and the Dundee supporters could repay their financial outlay.
Once again the Yanks had not done their homework.
If they had purchased Dens Park from Sandeman Properties Limited prior to November 2018 Sandeman Properties Limited would have had to repay this £1 million grant to the Government.

[islaydarkblue]

But you are like many many of us. Keen to help but wanting something to do that we actually believe will work for the benefit of the long term future of the club. Personally I think the tax loss situation is worthwhile for FPS.

It might be for their company Dark Blue Properties Holdings Limited who own Campy Nou but I doubt if their is a tax loss benefit for Dundee Football Club Limited as they only own 75% of the shares.
If FPS (Tim Keyes) owned 100% of the shares in Dundee Football Club Limited then their could be a tax loss benefit.
Interestingly FPS have not carried out another ‘Debt for Equity’ share transaction when their annual accounts for the year ending 31st May 2020 were signed off by John Nelms as a director of Dundee Football Club Limited on 28th May 2021.

[islaydarkblue]

Unfortunately the average fan doesn’t understand this, and I’m an average fan

I enclose more information from the Companies House website which will be easily understood by the average Dundee fan. https://find-and-update.company-info...filing-history
Camperdown Elm Trading Limited is the company set up by Tim Keyes and John Nelms as ultimately the trading arm of the new stadium development at the former NCR Camperdown grounds.

[BCram]

It might be for their company Dark Blue Properties Holdings Limited who own Campy Nou but I doubt if their is a tax loss benefit for Dundee Football Club Limited as they only own 75% of the shares.
If FPS (Tim Keyes) owned 100% of the shares in Dundee Football Club Limited then their could be a tax loss benefit.
Interestingly FPS have not carried out another ‘Debt for Equity’ share transaction when their annual accounts for the year ending 31st May 2020 were signed off by John Nelms as a director of Dundee Football Club Limited on 28th May 2021.

Think their shareholding is greater than 75% and they did achieve their target of being able to offset losses made at DFC against group profits. Maybe the capitalisation of the earlier losses made this group tax situation viable and there was no need to repeat the process? I am not an expert. I think this was discussed at the time the club wanted to buy DFCSS shareholding.

[BCram]

I'll go further and say Nelms treats the fans with contempt with the sponsored silences.

How would you describe the general tone of communication from the fans directed at John Nelms?