By Ian Roache

DUNDEE UNITED chairman Eddie Thompson (pictured) has revealed how a successful season on the park has allowed the Tangerines to repay a slice of their debt, while also increasing investment in the squad for the new campaign.

The £500,000 repayment to their bankers—finalised just this week—combined with more money for manager Craig Levein to spend on players, wages and the youth set-up, comes courtesy of their CIS Cup campaign, top-six SPL finish and sale of captain Barry Robson to Celtic in January.

Thompson, in a full and frank appraisal of the club’s financial well-being, said the decision to bite into the debt was unprecedented for United.

“We have repaid £500,000 worth of debt to the bank,” he confirmed, “and I believe this to be the first time the club had done this.

“Up until a few years ago football clubs could really do what they wanted financially.

“Debts rose and even I, a qualified accountant, wasn’t doing anything about it because you were allowed to do pretty much what you pleased.

“We have had an overdraft facility for £1 million and a loan of £6 million. The overdraft facility is still there but the loan will drop down to £5.5 million.

“I am not saying it’s brilliant but nobody paid anything back in the old days.

“It is certainly a sign that we are going in the right direction.

“Also, the cash has been pouring in for season tickets and for the Barcelona game in July—although we only get a percentage of that.

“Finances are still tight at times but not as tight as they have been.

“So we are fairly pleased with what we are doing.

“Unfortunately we had to let Barry Robson go, which was a pity because I liked Barry a lot.

“We also made a bit of money from other sources, though.

“The CIS Cup final earned us about £750,000 and we also made £200,000 or so from the semi-final against Aberdeen.

“We got £390,000 net for finishing in the top six in the SPL, while there will be a further £100,000 in August for being in fifth place.

“So taking the figures together we are talking around £1.4 million on top of the money we got for Barry.

“A lot of that is down to the manager, Craig Levein. Let’s not kid ourselves because if the team wasn’t successful the money wouldn’t be there.

“He earns well for us and we put out a lot of money on the management team and the players. But over the season just past we have had a lot more money coming in than we have had to put out.”

While not commenting directly on recent speculation linking Levein with a return to Tynecastle to manage Hearts, the United chairman let his wallet do the talking by yesterday sanctioning the release of further funds to the manager for the 2008-09 campaign.

“We have made a bob or two so we have decided to increase the budget and that was finalised today,” he said.

“We agreed we wouldn’t be sitting here in July or August wondering what we would be doing as far as signing players goes. We want to act quickly.

“We lost out on third spot and Europe by just a few points so hopefully some new players will make a difference next time, while those already at the club can make progress too.

“And if the manager comes to me saying he needs this or that in addition to the budget he knows if the player is right then he will get more money out of me. There are not many clubs where that would happen.”

Thompson picked out the appointment of Levein as manager as being his greatest achievement as chairman.

“That was the most important decision of all and the key to our success over the past year and a half,” he said.

“If that was all I managed to do I would be satisfied.

“The relationship I have with Craig is more akin to a partnership running a company than that of chairman and manager. We work so closely together.

“Agreeing the increase in the wage budget for players for next season augurs well as we aim to improve on the fifth position we achieved in the season just past.”

There will also be a significant boost to the youth set-up, too, with Levein determined to work more closely with coach Graeme Liveston to improve that important area of the club.

Moving up to boardroom level, Thompson confirmed that his son Stephen, the chief executive, will be playing a greater role in the club as his dad battles against cancer, while daughter Justine has decided to concentrate on running her business and caring for her family.

“Back in September of last year I realised that with so many different things going wrong with my health that I needed to decide where the club was going,” he said.

“I got the family together and we talked it through for a period of three or four months.

“That meant that when we eventually got there it was a considered decision.

“We reorganised the club with Stephen becoming chief executive and my wife Cath becoming joint owner with myself. Most important of all, we made Craig the director of football.

“He is certainly a cut above the average manager, being good at the commercial side as well as the football side.

“As long as I am around everyone will have a job pushing me to one side when it comes to the day-to-day business of the club. I can’t help but get involved because I am the one with the most experience.

“To some degree it is not easy for Stephen because his father is still here at the helm.

“We have never known just how much time I would be putting into the club.

“I have stayed away from some areas of the job and left him to it and he seems to be doing very well. He is also careful with the money and will do what he has to do to make sure the club is run correctly. He also gets on really well with the manager.

“The only time he will be able to prove totally what he can do is when I get out of the way.

“Justine is not taking any official appointment at the club. She has a business to run and has the greatest little guy Monty, my grandson, to look after.

“She decided that all that was enough for her but she is here at every big game supporting me and the team.”

His wife Cath has been put in charge of a £1 million emergency kitty set aside at Tannadice and Thompson urged United fans to be reassured and encouraged by the creation of the fund.

“There is a seven-figure sum and I hope that sits there forever rather than just be used for a rainy day,” said Thompson.

“There may be difficult times ahead but it has been locked away in a wee vault by Mrs Thompson and really we shouldn’t have to touch that at all.”

His eyes lit up when asked if he feels he has helped bring those supporters closer to the club during his reign.

“We have, at Dundee United, the best relationship with our fans out of all the clubs in the Premier League,” he declared.

“It is fantastic and the fact it was the supporters who picked me to put my name on a stand was humbling.

“On Friday we will be getting together at a dinner to celebrate the 25th anniversary of our winning the league. The likes of Paul Sturrock, Richard Gough and David Narey—these are guys who are United legends.

“I have never played for the team. So why me rather than them? I wonder that myself.

“It is maybe not for me to say but I like to think that the fans think I have the club at heart.”

Thompson starts the latest stage in his battle against illness next Monday, when he receives new treatment for the cancer that has, he revealed, now spread to his liver.

“There was a period when, for a couple of weeks when on holiday at my usual place in Nerja (in Spain), I was just like a normal person.

“I was walking a bit and felt great.

“Then I came back and was told that the cancer had gone into my liver from my bones.

“I was given two choices. One was to do nothing and just see how long I lasted. The other was to try to control it.

“I am doing the latter, starting on Monday when I will get five hours of chemotherapy treatment.

“I will be laid low—like I have the flu—for a few days then hopefully will feel a bit better.

“It may be that I will go through hell and it won’t help at all. But I will try to stay focused and positive and am determined to be there for the beginning of the new season in August and for my wee grandson’s birthday, which is around the same time.”