News: Dens Park Is Now Dark Blue Again!

[harry94]

55 minutes ago, Prince Buster said:

DBPH are not Dundee FC.

DBPH is a company registered in Scotland and with a registered office address of 25 Tay Street, Dundee under the ownership of Tim Keyes and with John Nelms as a co-director. I believe DBPH have ownership of land and property but not of Dundee FC.

The shares of Dundee FC are being listed as owned by FPS but I can't actually find record of this company anywhere. The shortfall and finance comes from loans from DBPH.

Really interestingly, a little detail I missed a few months back when scanning companies house, there's actually been an additional entirely new company incorporated in June, 'DENS PARK DBPH LIMITED'.

I kind of wonder if there has actually been more of a plan for some sort of future development of the Dens site that's been kept close to their chest. It seems like breaking the lease has been a bit less trivial than was thought in the early days so maybe they've been pushing on things in the background so they can flip the site without making a loss.

[Double Blue]

57 minutes ago, harry94 said:

The shares of Dundee FC are being listed as owned by FPS but I can't actually find record of this company anywhere. The shortfall and finance comes from loans from DBPH.

Really interestingly, a little detail I missed a few months back when scanning companies house, there's actually been an additional entirely new company incorporated in June, 'DENS PARK DBPH LIMITED'.

I kind of wonder if there has actually been more of a plan for some sort of future development of the Dens site that's been kept close to their chest. It seems like breaking the lease has been a bit less trivial than was thought in the early days so maybe they've been pushing on things in the background so they can flip the site without making a loss.

I am sure all will be revealed in good time and we will find out what their plans for the ground are.

[Big Fez]

3 hours ago, dblair said:

Glad it’s at least been finalised and official now. Interesting that they didn’t state that Dens had been purchased but rather the holding company “Sandeman properties” Not sure if it’s a big deal but found it odd. 

a cynical man might wonder if it means the existing lease agreement would continue unaffected ie the club will still be paying rent. Maybe not, maybe the only way they could persuade JB to sell was to pay him extra for a bunch of other stuff as well. Who knows?

[Big Fez]

3 hours ago, Ned Spark said:

and who's money did they use to purchased dens? 

In case you have forgotten, they are dundee fc whether you like it or not.

Even if you own 100% of a football club, there are still some things you *might* not be able to do, because you have certain responsibilities as director etc etc.

So, just to make up a really extreme example, if company A owns an asset, you might not be allowed to sell that asset for a pound to another of your own companies B, put A into bankruptcy, but keep B and the asset. If the asset is in a separate company though there's absolutely nothing to stop you selling off A or putting it into bankruptcy etc etc but keeping on owning the asset through B. (It's obviously a lot more complicated than that. But.)

Now, I've no reason to suspect that the current owners intend anything of the sort. I think the success of their current business plan depends on having a healthy Dundee FC to play at the stadium they currently own, and the one they hope to build. But we should all be far too long in the tooth to be thinking there is no difference between DFC owning something and the owners of DFC owning something.

[Wattie Rojas]

Hopefully construction of nou campy has started before Dens is sold off for developing. Playing at someone else's ground should be for the shortest time possible. 

[Wattie Rojas]

Someone told me that JN had bought into a building company. I wonder if true if they'll be involved with construction at either site.

[GSD]

Seems like good business sense,means no rent to pay,less overheads,less debt. maybe even a wee bit more money for players in the short term.

[Prince Buster]

1 hour ago, GSD said:

Seems like good business sense,means no rent to pay,less overheads,less debt. maybe even a wee bit more money for players in the short term.

Dundee FC will most likely still be paying some sort of rent to Sandeman Properties / DBPH.

When DBPH bought Sandeman Properties they will also have taken on all existing contracts including the contract with DFC that requires them to pay rent and cover all maintenance costs of the site.

[GSD]

You don't charge yourself rent though, it would become null and void,contract ripped up.

[Prince Buster]

7 minutes ago, GSD said:

You don't charge yourself rent though, it would become null and void,contract ripped up.

Costs will be 'neutral' from Keyes / Nelms perspective but cash might still have to flow from DFC to Sandeman Properties to cover its costs and keep it a viable company.

[GSD]

Probably liquify Sandeman Properties and absorb assets into DBHC.

[Ludo*1]

Nelms on the radio there saying he wants us to be in the stadium for 2025. He also wants to hold a couple of concerts there before we move in to iron out the inevitable teething issues.