First Team
MATCHWORNSHIRT | CHAMPIONS
7th May 2024
The controlling shareholders who form the Board of Dundee United have rejected two offers for the majority interest in the Club.
The offers from Dundee businessman Eddie Thompson and a second confidential offer were substantially below the valuation of the shares.
Scott Carnegie, Chairman of Dundee United said, "Both offers fell a long way short of our valuation. The bidders were well aware of the ballpark figure required to acquire a controlling stake in the club. However, unfortunately, they did not come close to matching this.
"Obviously if both parties wish to continue negotiations by significantly increasing their offers then we would be delighted to meet with them again.
"From the very beginning we have said that the majority shareholding was not for sale at just any price and everyone who has expressed an interest in these shares has always been made well aware of this. To safeguard the future of Dundee United it really has to be a case of the right buyer at the right price.
"However, in light of this announcement a number of other decisions have been made. Jim McLean the major shareholder in the Club has today resigned as a Director of Dundee United.
"Jim has always stated that his return to the Board would be for the shortest time possible. Obviously, as our efforts to sell the majority shareholding could become slightly more protracted, Jim felt that the timing was right to step down. Jim's advice and knowledge of all aspects of Dundee United have been absolutely invaluable as we have set about the task of turning around the financial situation within the Club.
Jim McLean stated, "I have always said that my return to the Board was to be of a temporary nature. Perhaps those people who doubted this will now believe me. Scott Carnegie and his fellow Directors wanted me involved at the beginning to help ensure that they were able to hit the ground running.
"I have been extremely impressed with what they have been able to achieve in such a short period of time. I am now totally confident that my interests as the major shareholder in the Club are being well looked after."
The offers from Dundee businessman Eddie Thompson and a second confidential offer were substantially below the valuation of the shares.
Scott Carnegie, Chairman of Dundee United said, "Both offers fell a long way short of our valuation. The bidders were well aware of the ballpark figure required to acquire a controlling stake in the club. However, unfortunately, they did not come close to matching this.
"Obviously if both parties wish to continue negotiations by significantly increasing their offers then we would be delighted to meet with them again.
"From the very beginning we have said that the majority shareholding was not for sale at just any price and everyone who has expressed an interest in these shares has always been made well aware of this. To safeguard the future of Dundee United it really has to be a case of the right buyer at the right price.
"However, in light of this announcement a number of other decisions have been made. Jim McLean the major shareholder in the Club has today resigned as a Director of Dundee United.
"Jim has always stated that his return to the Board would be for the shortest time possible. Obviously, as our efforts to sell the majority shareholding could become slightly more protracted, Jim felt that the timing was right to step down. Jim's advice and knowledge of all aspects of Dundee United have been absolutely invaluable as we have set about the task of turning around the financial situation within the Club.
Jim McLean stated, "I have always said that my return to the Board was to be of a temporary nature. Perhaps those people who doubted this will now believe me. Scott Carnegie and his fellow Directors wanted me involved at the beginning to help ensure that they were able to hit the ground running.
"I have been extremely impressed with what they have been able to achieve in such a short period of time. I am now totally confident that my interests as the major shareholder in the Club are being well looked after."
