Question for Islay

[eric_sinclair]

How much debt does Dundee football club have at this current time?
A rough figure?
The previous owners incrued debts we were unable to pay back,hence 2 admins.
Are FPS doing the same or are they funding the losses?

[islaydarkblue]

How much debt does Dundee football club have at this current time?
A rough figure?
The previous owners incrued debts we were unable to pay back,hence 2 admins.
Are FPS doing the same or are they funding the losses?

£4.1 million after a debt for equity share transaction of just over £700k at the end of April 2024.
The outstanding debts at Admin 1 were £22 million but we owned Dens Park and the Marrs had given financial guarantees.
The outstanding debts at Admin 2 were just over £2 million. Dundee Football Club Limited no longer owned Dens Park which had been transferred into the ownership of Sandeman Properties Limited in 2007 with Dundee Football Club Limited directors on the board of directors
In March 2009 Lloyds Banking Group sold the title deeds of Dens Park to John Bennet for £500k and wrote off the remaining £6.5 million debt due to HBOS which the club were due to repay after the end of Admin 1.
Tim Keyes who is the main entity of FPS is funding the losses by debt for equity share transactions.
This is why the share capital has to keep being increased every five years.