After Seven months of Administration and a transfer embargo, Dundee FC have finally exited administration.
The paperwork was lodged at the Court of Session, meaning Bryan Jackson of PKF, the corporate recovery firm, will now hand over the running of the Dens Park side to a new seven man board, chaired by Stuart Murphy.
Dundee now follows Stirling Albion, as a supporter-owned and operated.
Murphy said, “Obviously we are delighted to be looking to the future and, on this day, want to thank fans who raised a huge sum of money to help make this possible. Without the efforts of the ordinary man in the street we would not be in this position today. We’ve come a long way since those dark days in October, and are now looking forward to an exciting new period, with players, fans, staff, businesses and the wider community continuing to pull together.
“We can’t change what has gone before, but it will for ever more serve as a sobering reminder of the huge responsibility this new management structure has in protecting the long-term future of the club. The people have provided a platform for us to consolidate that future, and we owe it to them to ensure that’s exactly what happens.
“The bond between supporter and club has never been stronger and we can build on that as we establish ourselves as a true community club for generations to come, with innovative ways of partnership working.”
PKF will continue to be involved in the management of the Company Voluntary Arrangement (CVA) and the payment of creditors’ dividends.
Bryan Jackson of with PKF, said: “I am sure that all involved with the club, the fans, and the city of Dundee itself will be delighted that this day has come. Whilst there still remains work to be done in relation to the CVA, today effectively sees the rebirth of Dundee FC. The club and its management will now be in control of their destiny and it is because of their support and enormous effort that we are where we are today. I wish the club and the fans all the best for the future.”