Dundee fans told to vote for funding

DUNDEE major shareholders DFCSS last night told their members to vote in favour of accepting investment – or watch the club lose £500,000.

The Dundee Football Club Supporters’ Society own a majority of the shares in the Dens Park club following their spell in administration last year. But two months ago members voted against diluting their shareholding below 50 per cent in exchange for cash from interested parties. However, DFCSS have now organised another ballot and have starkly laid out the consequences of another no vote.

DFCSS believe they are able to raise £500,000 investment from several sources, but cannot accept the cash unless it is converted into shares. If that money is not brought in, manager Barry Smith will have to drastically cut his squad for next season.

In a statement, DFCSS said: “With the costs of administration and the football debt still to be repaid, it was always our plan to bring in further external funding over the course of this season and next.

“As a result, the choice is clear: refuse the money on the table, and cut our cloth drastically next season, or accept the significant funding which is currently on offer.”