The Magnificent Dab ADMIN Thread

[TheDarkBlues]

 

 

[Guest]

Will believe it when he actually steps out that door. Might be me, but more of a PR stunt to sell season tickets. 

 

Shame though, he was doing a cracking job! 

[TheDarkBlues]

1 minute ago, GregTeamDee said:

Will believe it when he actually steps out that door. Might be me, but more of a PR stunt to sell season tickets. 

 

Shame though, he was doing a cracking job! 

Precursor to United going into admin?

[DarkBlueKnight]

Bye - what a shitty club

[WoodStein]

He's just resigned his role as chairman....there's nothing in any of the announcements to say he's resigning as a director, so I'd expect him to still be on their board.

......until doomsday 

[WeighorstsWang]

Grant Gillespie should do a good job in the Championship. 

[cg73]

4 hours ago, WeighorstsWang said:

Grant Gillespie should do a good job in the Championship. 

Yes good to see utd planning for another season in the championship. 

[harry94]

Just noticed this on companies house.

United FC Group - Martin and Thompson are registered. Inaugurated in 2015 (under a more subtle name of Thommar Ltd) but I find it very bizarre for them to have a need unless they are wanting to try some financial trickery. Could this be their get out route if things go bad? i.e. newco like Rangers into the fourth tier?

It's one scenario that would make sense for Thompson I suppose. Transfer the 'club' away from the debts that have been raked up and then, if he can get his hands on gussie or Tannadice, he can flog these to try and get the money he personally wants. I could see him being delusional and thinking that he's done a really good thing for them as well in clearing their debt.

[Guest]

Copy and pasted this from a Dundee United forum. Interesting read. Getting one loan from individuals two/three years ago, to now suddenly 8 (yes eight) people now to keep them coming......Popcorn out! 

--------

Here is an update from the federation from tuesday.

Notes of Meeting with DUFC Directors, Tuesday 30th January, 2018, Boardroom Tannadice Park, Dundee @ 7.00pm



Dundee United represented by MM, JF and CS.

The major points covered were:

JF invited to join the Board with main focus on Commercial activities
Heggie opening hours to be extended
Hydro building to be converted into Sports bar and function suite allowing more hospitality to be available on match days. Local firms to be used and “offering” to be enhanced
No charge for function suite to fans
MM has recently invested significant sum in Club recently
Operating losses continue but being financed by Commercial loans (8 individuals). All have a clause allowing the terms to be renegotiated
Some waiving interest, some deferring and some receiving interest
Fans have lost faith in current long standing Board members, incl MM, and believe Utd unlikely to prosper under current regime. Selling players and replacing with poor recruitment whilst incurring continuing losses
Continuing operating losses have been financed historically by Cup runs and transfer fees
CL is responsible for signing players although the Board have a rigorous evaluation and the manager has to convince them on various aspects that the proposed signing will enhance the team and be an asset to the Club
Directors aware Youth set up needs a complete revamp and CL will turn his attention to this once season is over. A top to bottom structure throughout playing side of the Club is required
Talks taking place, which are likely to be successful, with new investors both to buy from existing shareholders and/or purchase unissued shares. MM confident something will happen soon
MM has bought Justine’s 33% with aim of having all large shareholdings within the Board
Plan B if promotion not achieved this year? Four additional sources of income: commercial, cup success, transfers and loans. Loans make up the balancing figure. Playing budget whilst it would potentially be reduced would still be larger than most if not all other Clubs
No offers received to buy the Club as described on Social media (2 bids allegedly) on 30 January 2018
MM’s position on potentially becoming Chairman of DUFC is that it would be for others to decide, if they thought it would be in the Clubs best interests
Possible 2 new players tomorrow – both No 6’s – £100K has been made available to CL to strengthen the team
Fed thanked JF for his initiative in meeting the fans and MM for allowing the discussion to be honest and frank and for taking the criticism sadly aimed at the long standing Board members of which he has been one since 2011
MM stated that although only one group left to see felt that Fed had been very open and honest and unlike the other groups may not be leaving feeling as positive about the immediate future.




Abbreviations



ST – Stephen Thompson

MM – Mike Martin

JF – Jimmy Fyffe

CS – Colin Stewart

CL - Csaba László

[Boba Fett]

6 minutes ago, harry94 said:

Just noticed this on companies house.

United FC Group - Martin and Thompson are registered. Inaugurated in 2015 (under a more subtle name of Thommar Ltd) but I find it very bizarre for them to have a need unless they are wanting to try some financial trickery. Could this be their get out route if things go bad? i.e. newco like Rangers into the fourth tier?

It's one scenario that would make sense for Thompson I suppose. Transfer the 'club' away from the debts that have been raked up and then, if he can get his hands on gussie or Tannadice, he can flog these to try and get the money he personally wants. I could see him being delusional and thinking that he's done a really good thing for them as well in clearing their debt.

Sure that was something to do with their failed Aussie venture.

Maybe they’ve found a whole new use for it now though  

[islaydarkblue]

55 minutes ago, harry94 said:

Just noticed this on companies house.

United FC Group - Martin and Thompson are registered. Inaugurated in 2015 (under a more subtle name of Thommar Ltd) but I find it very bizarre for them to have a need unless they are wanting to try some financial trickery. Could this be their get out route if things go bad? i.e. newco like Rangers into the fourth tier?

It's one scenario that would make sense for Thompson I suppose. Transfer the 'club' away from the debts that have been raked up and then, if he can get his hands on gussie or Tannadice, he can flog these to try and get the money he personally wants. I could see him being delusional and thinking that he's done a really good thing for them as well in clearing their debt.

Hi Harry,

I do not want to steal your thunder by I suggest that your read my posts numbered 691 and 696 on this topic which I posted last Tuesday.

You will read that I have already been investigating FC United Group Limited and the Dundee United Football Club Limited on the Companies House website. I have found some very interesting information including details of who holds charges on parcels of ground around Tannadice and the total sum of money secured against each charge (Standard security).

My understanding is that MM by purchasing Justine Mitchell’s shareholding now has a shareholding in the Dundee United Football Company Limited In excess of 33% which is greater than the maximum shareholding of 29.9% as laid down by Takeover Panel rules. These rules state that MM must offer to purchase the shares of every other Dundee United Football Company Limited shareholder at the same price as he paid for  Justine Mitchell’s shares in her 33% shareholding.

Dave King Chairman of Rangers has recently got himself into the same  situation by purchasing shares in Rangers International PLC  from fellow large shareholders which took him over the 29.9% maximum shareholding despite being warned by his advisers.

The Takeover Panel ruled that King must offer to purchase the remaining shares held by the Rangers International Plc shareholders and King tried to wriggle out by saying the shareholding was held by various companies.

However King lost his appeal and was ordered to purchase the remaining shares. King says that he does not have the funds to pay for them!

 

 

 

[Boba Fett]

I’m beginning to like this lads work..