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Dundee United takeover by American consortium nearing completion

Dundee United takeover by American consortium nearing completion

The long awaited Dundee United takeover by an American consortium could finally be about to go through.

Reports from the other side of the Atlantic are suggesting after months of talks and investigation by the mystery Yanks, the are finally ready to give the deal the green light.

It’s being suggested the switch of ownership could be completed within the next week.

That would see the Americans splash out a high six-figure sum to acquire a majority shareholding in the Tangerines.

Most would be bought from existing chairman Mike Martin, the biggest single shareholder in the club after he bought most of predecessor Stephen Thompson’s shares earlier this year.

This year has also seen Martin purchase the shareholding of Justine Mitchell, Thompson’s sister and a former club director.

Martin became chairman in early March and quickly revealed his plan was to find new owners, with the Americans being most likely to take on that role.

Talks with them dated back to when Thompson still held a majority of the shares and initially it was expected he would sell his stock to them.

As discussions dragged on, however, the summer saw the new board buy them after Thompson entered into talks with businessman John Gibson.

That was a clear indication of the doubts the former chairman had about the proposed American deal going ahead.

Mike Martin, however, always insisted despite talks taking longer than expected the switch remained on the cards. Now it is looking like he could be about to be proved right.

With the transfer window approaching that looks like good news for manager Robbie Neilson.

This article originally appeared on the Evening Telegraph website. For more information, read about our new combined website.