Scottish Premiership side Dundee United Chair Stephen Thompson "has jetted across the Atlantic in a bid to find a new owner" for the club, according to Keith Jackson of the Scotland DAILY RECORD. The Tannadice chair "flew to the States on Monday to hold talks with a potential new investor who could be willing to buy control of the crisis-hit club." While those talks are at an early stage, in the meantime Thompson "is also considering standing down from his position at the head of the boardroom."
Thompson’s dash across the pond "came after stormy scenes and protests at the end of Saturday’s defeat at home to Hamilton -- a result which crushed United’s last slim hopes of dodging the drop down into next season’s Championship." Thompson "was not available to comment last night," but a close source said, "He knows his time is up. His wife and his mother have been abused by supporters and one fan tried to land a punch on him during a recent game at Firhill. He has reached the point where enough is enough but is determined to make sure the club is passed into safe hands." United’s cash flow situation, meanwhile, "is expected to become critical over the summer which is another reason for Thompson’s attempts to attract new investors."
But, although the financial position "is becoming critical, Thompson does not believe the club will be forced to call in the administrators." The source added, "The club’s debt has been reduced from £7 million [$10M] to £1.25 million [$1.8M] and none of it is owed to the bank or HMRC. But the outstanding loan is secured against the stadium and other assets. Administration would effectively see the club lose its home as well as the youth set-up. It would make no sense at all" (DAILY RECORD, 4/27).
