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SBD Global/June 3, 2013/Franchises
SPL Club Dundee To Continue With Plans For Keyes Capital Investment
Published June 3, 2013
Scottish Premier League club Dundee Saturday vowed to press on with plans to bring on board the U.S.-backed consortium "which will have a major stake in the running of the Dens Park club," according to Euan McArthur of the SCOTSMAN. Dens Dirs Bill Colvin, Steve Martin and Ian Crichton "all resigned early last week" after the DFC Supporters Society, which owns 51% of the club's shares, thwarted the controversial £1.5M ($2.2M) investment from Keyes Capital, "which has brought civil war to the Dark Blues." On Friday, "two of the three supporters' representatives performed a U-turn and instead agreed to give the thumbs-up to the proposal," which is being led by U.S. businessman John Nelms. Nelms recently revealed he would put up front an initial £650,000 ($986,830) "to help maintain the current squad as well as attract new players in their quest for a quick-fire return to the SPL." Supporters Society Dir Maurice Kidd said, "It's the same bid that was originally on the table although there are conditions that we still have to agree. There's still a wee bit of negotiations to be done but generally the bid is as it was in it's original form" (SCOTSMAN, 6/2).