Dunfermline Athletic are under new ownership after German investors DAFC Fussball GmbH purchased a majority shareholding in the Championship outfit.
The group already possessed a 30 per cent stake in the Pars following a deal last year and have injected a six-figure sum into the club, which is understood to have been ring-fenced despite the Covid crisis.
Within the original terms of the agreement, the consortium had an option to increase that to a 75.1 per cent holding by May 31, 2022 in return for a substantial financial commitment.
However, the decision was made to expedite that process in order to secure the funds for several infrastructure projects, including the building of a new training ground and the revamping of Dunfermline’s youth system.
And the takeover was officially announced by chairman Ross McArthur during a press call on Wednesday morning, ushering in a new era for the 136-year-old Scottish football institution.
DAFC Fussball GmbH are fronted by former St Pauli player, coach and director Thomas Meggle, ex-Davis Cup tennis professional Damir Keretic, Nick Teller and Dr Albrecht Gundermann.
Meggle said: “The investment into a dedicated training facility is a cornerstone of our plans for our Club’s future. In order to be able to attract exciting talent to DAFC, our own training facility with a clear DAFC identity, is an essential requirement.”
Keretic continued: “We are very excited about the future of DAFC and the part we can play in our community football club. We have clear plans of how to develop our Club further under our custodianship and to widen the appeal DAFC has in the region and beyond.”
McArthur will remain Pars chairman, with Meggle, Keretic and Teller occupying places on the board of directors.
McArthur lauded: “It is important for me to state that it was at our request, DAFC Fussball GmbH took up their second option earlier than the original intended date, which once again is testament to their commitment to our club as well as the spirit and cooperation of the working relationship we have enjoyed to date.
“We are still in a time of some uncertainty, so providing certainty like this is hugely beneficial, so our new investors deserve enormous credit which should be applauded by our supporters.”