Scottish First Division Dunfermline Pins Survival Hopes On New Fan Funding
Scottish First Division Dunfermline AFC "claim to be on the verge of a fan-based takeover," according to Alan Temple of SCOTLAND ON SUNDAY. Dunfermline is close to securing the “substantial investment” which would rescue them from the precipice of liquidation. Owner Gavin Masterton, who owns 94% of the club, has "reportedly agreed to give up his entire shareholding, paving the way for a 'supporter-led' model." Due diligence will be carried out Monday "which will allow the potential investors to analyse the Dunfermline accounts and, if they are comfortable with the numbers, a takeover bid will be imminent." This scheme effectively represents “the last realistic chance to save [the] club.” Chair John Yorkston has "hinted one of the potential investors is a Swiss-based figure." Yorkston said. "We have been speaking to a gentleman who spends a lot of time in Switzerland. He contacted me over a week ago, I met him at Edinburgh Airport at the beginning of the week and we had discussions and these discussions about investment are ongoing" (SCOTLAND ON SUNDAY, 3/17). The BBC reported Dunfermline said a "number of fans have expressed an interest in making substantial investments in the club." This comes after "a failed bid from fans' consortium The Pars Community to buy Masterton out." On Friday, Dunfermline said The Pars Community was "unable or unwilling to demonstrate" that it had the funds to complete a buy-out, with the fans' organisation saying it was "extremely upset at the outcome of its endeavours" (BBC, 3/16).