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Bob Brannan was the Dundee FC chairman when John Bennett purchased the title deeds of Dens Park from Lloyds Banking Group for five hundred thousand pounds in 2009 a year before Admin 2 with the rental period and rent agreed.
After the end of Admin 2 Dee4life had the majority shareholding in Dundee Football Club Limited and their chairman agreed the new terms of the rental agreement with John Bennett of Sandeman Properties Limited with the annual rent starting at a low level and increasing in amount every year.
The annual rent payable to Sandeman Properties Limited was not published in the Dundee Football Club Limited annual accounts until the rules changed on 1st June 2015.
After then the annual rent paid each year, the total rent payable for the next five years and until the end of the lease is now published in the Dundee Football Club Limited annual accounts.
You should be more concerned about the Directors of Dark Blue Property Holdings Limited which is the holding company for Sandeman Properties Limited since 3rd October 2023 borrowing funds from SohoGreen with the Dens Park Stadium being put up as security for their loan.
You do not have to be Einstein to work out what will happen if the loan secured over Dens Park is not repaid in full.
The Dark Blue Property Holdings Limited took out a loan from Soho Green on 24th November 2022 secured over the 29.7 acres site of the new stadium development at the former NCR Camperdown playing fields paying an annual interest rate of between 9% and 24% per annum.
This was 2 months after John Nelms stated that the new stadium development was fully funded and if they needed any extra funds they could easily get the funds from the City of London.
Last week the loan secured against the Campy Nou has not been repaid.
My big concern is that the loan from Soho Green secured against Dens Park Stadium will not be repaid resulting in Soho Green selling Dens Park to the highest bidder.
This could result in Dundee Football Club being kicked out of Dens Park and having to ground share at Tannadice which will eventually result in a merger with the Dabs.
I enclose the Filing History of Dark Blue Property Holdings Limited for your reference. https://find-and-update.company-info...filing-history
Last edited by islaydarkblue; 26-11-2024 at 12:51 AM.