Dundee United have had to borrow a six-figure sum — believed to be in the region of £500,000 — to meet a shortfall in the budget for this season.
It’s understood details of the arrangement were given out at the Tangerines’ AGM, which was held behind closed doors at Tannadice on Monday.
The club also appear to be on the verge of securing a £300,000 investment from an American-based fan, but it’s clear the cost of attempting to maintain a promotion challenge has been much greater.
Chairman Stephen Thompson has been actively seeking fresh financial backing for some time now and last summer let it be known he could be willing to surrender his controlling interest at Tannadice to secure it.
It’s understood he’s now of the opinion he can bring cash in without taking that route.
That may not go down well with an increasing number of Arabs who want to see him sell up and allow a new regime to take over.
However there does not appear to be any concrete indication of who that could be.
Earlier this month a new group, Fans United, staged a protest during the home defeat against Hibs and while it was met with a mixed response, it was another indication of the discord among the support.
https://www.eveningtelegraph.co.uk/fp/fans-group-call-protest-tannadice-tonight-dundee-united-owner-stephen-thompson/
Their hostility towards Thompson and his board is unlikely to go away, even if the investment from America is secured.
So far details of it are sketchy. While it’s been described as a potential cash injection, it’s also been suggested United will have to put up their GA Arena opposite Tannadice as security to obtain it.
That’s led to speculation the fresh cash is effectively another loan.
United are already paying off several “soft” loans that were previously obtained to pay off their debt to their bankers.
There is still some hope of a financial boost this summer, if Hull City are forced to part with Scotland full-back Andy Robertson.
He’s rated in the £12 million bracket and, if he was sold, that would net the Tangerines the best part of £1 million under the terms of the deal that saw him move south in 2014.
Robertson was close to leaving the Tigers during the January transfer window but a proposed move to Burnley fell through at the last minute.
Several clubs, however, remained interested and a summer move is possible.
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