Dave Cormack makes '˜substantial investment' in Aberdeen

US-based software entrepreneur and investor, Dave Cormack, has made a substantial investment in Aberdeen through the acquisition of shares and has been appointed to the club's board as a major shareholder.

Aberdeen chairman Stewart Milne (left) with Dave Cormack. Picture: Aberdeen FC

Cormack, who had previously undertaken the role of interim chief executive while on a sabbatical from 2000 to 2001, will help the club to grow away from the field, building on the team’s recent successes.

The club are in the midst of planning to move to a new stadium at Kingsford in the west of the city as well as building a community sports hub and training facilities. The £50million complex hit a snag in March when it was revealed that councillors sitting on Aberdeenshire Council’s infrastructure committee objected the proposal, while councillors on the Garioch Area Committee were also objecting to the project.

Cormack’s involvement, with his experience in business will help the club in the planning, construction and fund-raising phases

Stewart Milne, Aberdeen chairman, told the club’s website: “Running a club in the modern era is increasingly challenging and we will greatly benefit from having someone with Dave’s expertise, experience, enthusiasm and commitment. He brings a new perspective along with an innovative approach and commercial acumen to help meet the challenges head-on.

“He will be a tremendous partner and sounding board for me personally, helping to reduce the financial pressures and bringing that level of financial and business acumen which used to be provided by Aberdeen Asset Management.”

Cormack is a board director of WebPT, and invests in software companies alongside Boston-based Battery Ventures. He is also involved in charity work with his wife Fiona, also from Aberdeen, having set up the Cormack Family Foundation to work with a range of charities and initiatives mainly in support of young people and children around the world.

he said: “While I have continued to support and provide advice to the club for many years, I’m honoured to be back on the board. Having sold our 500 employee healthcare software business last year, and set up the Cormack Family Foundation, I’m now in a place where I can offer both financial support and my time to the club we all care passionately about.

“The club’s performance in recent seasons, both on and off the pitch, is a testament to how hard everyone at Pittodrie has worked. Having a team that is performing well and a club that is debt-free is an enviable position to be in. But we must kick-on from here and fully exploit opportunities to increase revenues and our fanbase.

“The new Customer Relationship Management (CRM) System that is being implemented right now will give us a digital marketing platform that will allow us to directly communicate one-on-one with both the 100,000 fans who follow the club on social media worldwide, and every single business in Aberdeen and Shire.

“With my background in both business-to business and business-to consumer marketing, along with an extensive network of influential contacts in the United States, I look forward to working with the management team at AFC to explore some innovative ideas I’ve seen work stateside, to attracting American investment into the club, and to seeking out strategic partnerships that will help AFC maximise its potential.”

“I’m looking forward to working with the existing, strong leadership team at the club, with whom I’ve already got a great relationship. Between us, and with the support of our fans, I’m sure we can get the club into a position where increased revenues, an expanded fanbase, and a state-of the-art community stadium and training campus will position AFC well to exploit changes that evolve in European club competition.”