German consortium DAFC Fussball GmbH completes takeover of Dunfermline Athletic
The club announced on Wednesday morning that the investors, who already held a 30 per cent stake in the club, have taken up a further 45.1 per cent of the shareholding to become the majority party. DAFC Fussball GmbH had been expected to make this move in May next year, but have accelerated the process.
The early uptake of the shares allows Dunfermline to fast-track plans for a new training facility and resurrecting its own youth academy.
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Hide AdThe key DAFC Fussball GmbH investors are Thomas Meggle, Damir Keretic, Nick Teller and Dr Albrecht Gundermann.
Chairman Ross McArthur who will continue in his role, commented: “I said previously that the involvement of DAFC Fussball GmbH as a shareholder would be transformative for our club, and we are now on the cusp of making key strategic investments in the infrastructure of our club, which would simply not be possible without their support. These will not only help our future growth, but also increase our chances of success, without diluting our existing culture and community ethos. In addition, there are other planned initiatives that we hope can differentiate our club from our peers.
“It is important for me to state that it was at our request, DAFC Fussball GmbH took up their second option earlier than the original intended date, which once again is testament to their commitment to our club as well as the spirit and cooperation of the working relationship we have enjoyed to date. We are still in a time of some uncertainty, so providing certainty like this is hugely beneficial, so our new investors deserve enormous credit which should be applauded by our supporters. I would encourage all of you to show your support to our new investors by acquiring season tickets or visiting our matches whenever possible in these new and exciting times for our club.”
Board director Teller said: “By agreeing early to exercise the option we are recognising the need for our club to have financial certainty in these uncertain times in order to make essential investments into the future of our club. It is important to note that the increase in the stake will take place by way of an increase in share capital meaning that close to all of the proceeds will go to the club and no one other than DAFC itself will be receiving any of the funds.”
Fellow director Keretic said: “We are very excited about the future of DAFC and the part we can play in our community football club. We have clear plans of how to develop our Club further under our custodianship and to widen the appeal DAFC has in the region and beyond.”
Dunfermline finished fourth in the Championship last season under manager Stevie Crawford, losing out to Fife rivals Raith Rovers in the play-offs. Crawford has since left the club and has been replaced by former Alloa boss Peter Grant, with an emphasis on attacking football. They are currently second in their Premier Sports Cup group and could qualify for the last 16 with a win over Stenhousemuir on Saturday.