Dunfermline fan consortium mulls over accounts

By DARREN JOHNSTONE
Published on 19/03/2013 00:00

Dunfermline employees and supporters face an anxious wait to discover if the proposed supporter-led buyout comes to fruition after the mysterious consortium got their first sight of the club’s accounts yesterday.

The group, whose identities remain unknown, have commenced their examination of the Pars’ financial records as they consider firming up a club-saving offer that will see the consortium obtain a 50 per cent shareholding. The remaining 50 per cent would be taken up by other fans, with owner Gavin Masterton – who currently has a 94 per cent stake in the stricken Fife outfit – and his family severing all ties.

The 128-year-old club’s xistence has been placed under threat by a Her Majesty’s Revenue and Customs winding-up order over £134,000. The Pars will have eight days to stave off the writ once a public notice is advertised, or the tax authority would then have the right to start liquidation proceedings.

Fans’ steering group member, Bob Garmory, of the club’s main sponsors Purvis, said: “The new group obviously understand that dealing with the taxman is a major part of what we’ve got to achieve, and there’s no guarantees. But we’re not talking about talking carpetbaggers here, we’re talking about serious investors.”

Dunfermline’s severe cash-flow problems mean any new investors would effectively have to come up with £750,000 almost immediately.

As well as the tax bill, the players and staff are still owed wages, while business creditors are due more than £450,000.