Stadium Proposals - Dee4Life Statement

[Dee4Life Official]

We have been asked by BBC Scotland’s The Nine to take part in a feature about the proposed new stadium development at Camperdown. In this we will be outlining the Trust’s position on ‘Nou Campy’ and, as such, we wanted to share this with our members and the wider Dundee support.

Dee4Life has always been supportive of the stadium development in principle, however there are many outstanding questions that we believe the club needs to address.

The public meetings hosted by Dark Blue Property Holdings as part of the planning process provide an opportunity for the public to understand the implications of the development for the city, but our priority is the impact on Dundee Football Club.

Our concerns include:

• The prospect of Dens Park being sold before completion of the new stadium, depriving the club of a safety net

• The lack of clarity over ownership of the new stadium 

• The lack of clarity on the prospect of interim groundsharing

• The apparent absence of a Plan B should the Camperdown project fall through

• Exposure of the club to risks associated with inflation and rising interest rates facing DBPH

Dee4Life, on behalf of all Dundee fans, are custodians of the ‘A-Shares’ which provide the support with additional rights, including protection against the club playing its home games away from Dens Park for any period exceeding one year. The Trust is committed to representing its members and the wider Dundee support to ensure their views are heard.

Therefore, we have written to John Nelms and Tim Keyes to ask that they, as owners of both DBPH and Dundee FC meet with representatives of supporters, shareholders and other stakeholders to discuss the specific impact the development will have on the club. The relationship between the club and DBPH, including expected lease terms with either DBPH or any future owners and details of the risk/benefits for Dundee, is crucial. 

We believe a new stadium could prove to be transformative for Dundee but there are examples of clubs who have found themselves in perilous situations because their own dream moves have turned sour. Our own club has twice been placed in administration because the ambitious plans of previous owners were not built on robust foundations. As a result, transparency and engagement are essential to ensure we do not make the same mistake again.

We welcome all views on this and other matters so please feel free to share your own opinions on the development by contacting us on *****@*****.com.

[BCram]

Would like to know what the reserved rights about playing away from Dens for more than a year actually mean.

[Dee4Life Official]

The wording, from the clubs articles of association, is publicly available on companies house. Copy /paste below

 

67
The following will be deemed to constitute a variation of the rights attached to
the "A" Ordinary Shares:
6.7.1 the passing of any resolution to appoint a liquidator to the Company;
6.7.2 the sale or transfer of the whole, or substantially the whole, of the
business and assets of the Company;
6.7.3 the making of a dividend or any form of distribution to the shareholders
of the Company (including, without prejudice to the generality of the
foregoing, any purchase or redemption by the Company of its shares);
6.7.4 the approval of any transaction between the Company and its directors
(or any person connected to the Directors) which requires to be
authorised or approved by the shareholders of the Company under the
Statutes (including, without prejudice to the generality of the foregoing,
section 190 of the Companies Act 2006);
6.7.5
the Company entering into any arrangements under which the First
Team will habitually play its "home" games at a location other than the
Stadium, except for temporary arrangements for a period not exceeding
one year on health and safety grounds or due to the unavailability of
the stacium:
676
any material change to the primary "home" colours of the First Team, or
any material change to the badge appearing on any playing uniforms of
the First eam:
677
the Company entering into any arrangements under which any other
professional or semi-professional football team habitually uses the
Stadium to play its "home"
games, except for temporary arrangements
for a period not exceeding one year;
6.7.8
any arrangements under which, for the purposes of any competition in
which the First Team is entered, the First Team is considered to be
amalgamated or merged with an equivalent team which is (or, prior to
such arrangements, was) registered as a separate member of the
Scottish Football Association and/or any other relevant body;
6.7.9 the incurrence or accrual by the Company of Debt in excess of an
aggregate amount at any time of £50,000, except for:
hire or lease purchase, or any other form of asset finance, to
effect the purchase of moveable assets; and
any other debts or obligations incurred in the ordinary and
proper course of business which will be paid within 12 months
of being incurred;
6.7.10 any issue of any new shares or any variation of the issued share capital
which adversely affects the rights attaching to the "A" Ordinary Shares
(and, for the avoidance of doubt, the rights attaching to the "A" Ordinary
Shares shall be deemed to adverse

[QuesoGrande]

I read that to say that the club can play away from Dens for a year without any approval from d4L. What happens if it goes longer than one year? D4L need to agree to it? And if they don’t agree then what?

[Dayster]

29 minutes ago, QuesoGrande said:

I read that to say that the club can play away from Dens for a year without any approval from d4L. What happens if it goes longer than one year? D4L need to agree to it? And if they don’t agree then what?

That’s how I read it. Could move out for a year and have nothing to go back to if it’s been sold off or lease terminated 

[QuesoGrande]

4 minutes ago, Dayster said:

That’s how I read it. Could move out for a year and have nothing to go back to if it’s been sold off or lease terminated 

Yes so clause seems a bit redundant?

[Prince Buster]

13 minutes ago, QuesoGrande said:

Yes so clause seems a bit redundant?

Nelms and Keyes have tried all they can over the years to negate the A shares holder effect. I was even asked once why we don't just dissolve DFCSS and hand the shares to the club, then they tried to buy them at a ridiculously low price. Now they're running Dens down to negate the clause protecting it - I would say deliberately.

They have a goal and we don't know what it is but it does seem they're accelerating toward it. I don't see Dundee FC surviving in a recognisable form if they continue on this road.

[Donny O]

This is welcome News ...maybe BBC Glasgow sorry Scotland smell a story here that requires investigation.Good Luck to them .Its about time this was resolved and as much as possible information is out in the public domain.

[Billy Campbell's Ghost]

BBC Scotland couldn’t find their way to Dundee never mind investigate a smell. Conspiracy abounds in a wee town.

[Double Blue]

I wonder if Jim Spence is involved. Does he still work for bbc after his earlier departure?

[BCram]

Team will habitually play its "home" games at a location other than the
Stadium, except for temporary arrangements for a period not exceeding
one year on health and safety grounds or due to the unavailability of
the stacium:

seems to me that this clause is worthless in preventing leaving Dens. Unavailability of the stadium seems to be exactly what our owners are trying to arrange.

[Billy Campbell's Ghost]

48 minutes ago, Double Blue said:

I wonder if Jim Spence is involved. Does he still work for bbc after his earlier departure?

Jim is freelance but would not be a surprise if he is involved