Club Statement re: DUSF

[TerryTheTerror]

From what I can gather, it's as if some folk expected the Foundation to stuff a bunch of cash into a sports bag and leave it at the Tannadice reception for them to spend it on whatever. Not a penny of Foundation money gets spent without a ballot of the Foundation members.

Can you explain the offer of a LOAN? Total head scratcher IMHO.

[TerryTheTerror]

Bit in bold, the Foundation were simply talking to the club about investment, if a proposal with the club was agreed, the members would then vote on whether to go for it.

They can't just fire on and throw money at something.

That's my understanding.

And that's a fair and proper thing to do.

[massacre65]

But if this "loan" carried with it the condition of shares or a seat on the board no wonder MO got offended. We'll maybe never know but it sounds like the principals of DUSF massively overplayed their importance here, seriously annoyed Mr Ogren and he's lost trust and patience with them.

Also, for DUSF to admit that they were putting a deal to MO without having put it to their members first doesn't sit well with me.

I give the benefit of the doubt 100% to the Club in this.

How do you know that the loan had a condition of shares attached to it? What if it didn't?

Who said that DUSF dealt with MO? What if they never met or spoke with him?

Before you put something to members you have to find out what the club want/need - surely that's obvious?

Still 100%? - they are fair points you have raised and all will be addressed to members in a statement. I am simply trying to address decent points to prevent even wilder speculation. I'm not trying to be smart or an erse.

[TheBoyBennison]

I'm going to wait to hear the Foundation's explanation.

[massacre65]

Can you explain the offer of a LOAN? Total head scratcher IMHO.

I can but not at the moment. If you are a member then let me know and I would call you. If not I will happily explain to you at some point after we explain to members. Hope you understand but I can assure you the loan was well intentioned and pretty straight forward. It certainly doesn't merit being against 'Club values'

[TerryTheTerror]

I can but not at the moment. If you are a member then let me know and I would call you. If not I will happily explain to you at some point after we explain to members. Hope you understand but I can assure you the loan was well intentioned and pretty straight forward. It certainly doesn't merit being against 'Club values'

100% the right thing to do, cheers.

[Wullie]

Can you explain the offer of a LOAN? Total head scratcher IMHO.

This is just what I think might be the case, I have no inside knowledge.

Times are obviously tough just now so the club and foundation get together to discuss a help with funding.

The Foundation say "We'll give you X, in return for X?"

The club say, "No!"

The Foundation say "We'll lend you X then, if we're getting nothing in return!"


I don't want to turn this into a whole Arabtrust, who does what, who doesn't do what, but if ArabTrust have been allowed to buy/acquire shares in return for investment*, surely the same applies across the board? (*Albeit under previous regimes)

I don't know if shares were even offered/asked for and I agree with the point above about if the money isn't going on a project then it's silly just to throw it in without some sort of return or assurance.

[massacre65]

Boy you dinnae have hae it in for the Trust, having a pop at every opportunity. Do you have any evidence that they didn't ask for a seat on the board? Perhaps someone can enlighten me at the setting up of DUSF was there ever any mention of loans, shares, seats on the board? Whatever the negotiating position of the DUSF reps they certainly havnae half pissed off those at the club and at the same time perhaps their own membership while at it. FWIW I am not an Arabtrust member or any other group either.

I can 100% assure you that DUSF do not want a seat on the Board or any sort of lanyard or to hang around Boardrooms on matchdays. In the early days seats on the Board was of interest mainly because that's what other Foundations and such did. Also at that time the club was 'run' by ST and MM. The Board seat was dropped around 2 years ago I think. Shares was always a thought but given that the Club issues around 98,000 shares then we would only ever imagine we would receive a token amount. I think ArabTrust have around 3000 for example. The loan issue was never a thought but then again neither was this pandemic. You're right that we've pissed off those at the Club - we never thought we were and of course never ever our intention. I was also a Founder member of ArabTrust as were several others on the DUSF Steering Group

[offshore_arab83]

Boy you dinnae have hae it in for the Trust, having a pop at every opportunity. Do you have any evidence that they didn't ask for a seat on the board? Perhaps someone can enlighten me at the setting up of DUSF was there ever any mention of loans, shares, seats on the board? Whatever the negotiating position of the DUSF reps they certainly havnae half pissed off those at the club and at the same time perhaps their own membership while at it. FWIW I am not an Arabtrust member or any other group either.

Thats incorrect, i dont have it in for them, not by a long shot i just dont think historically they've done right for the club or for the fans during the Thompson troubles. Granted they've done alot of good with the youths and that cannot be denied.

Nope no evidence i just dont think they've anyone as narcissistic as the other mob.

FWIW im not a member of any of the groups

[Shedboy1971]

Keen to hear the full story from DUSF and some of the posts here show there are two sides. Something has gone wrong here big time.