Dundee’s takeover saga took another twist on Tuesday as it emerged that the Dark Blues Business Trust (DBBT) have tabled a bid to rival that of the Texas consortium currently in talks with the club.
The DBBT, of which former Dundee owner Peter Marr is a trustee, say they will invest £250,000 into the Dens Park outfit but only if the £650,000 offer pledged by US-led Football Partners Scotland (FPS) is rejected.
The club last night stressed that it will refrain from giving the latest bid consideration until the Texas-based package is voted on by shareholders, meaning FPS are still front runners to plough their cash into the club and take their plans forward.
But news of the DBBT bid has certainly given fans some food for thought, particularly those sceptical of the US-led consortium’s motives.
Sources close to the DBBT have told Courier Sport they believe their offering is a “very viable alternative” to that proposed by Keyes Capital, and would secure a proxy shareholding of 20%.
They have also refused to rule out working with those behind the FPS offer, namely Tim Keyes, John Nelms and former directors Steve Martin and Bill Colvin, if the DBBT bid is successful, with sources last night suggesting DBBT would be willing to develop an “open and collaborative dialogue” with all stakeholders.
Despite the latest turn of events, a club statement suggested that the more substantial FPS offer remains the clear favourite.
“Club directors received an offer on July 7 of investment from the DBBT in the sum of £250,000,” it read. “At a meeting held yesterday to consider this offer, the directors felt that they could not give detailed consideration to it, until such time as the shareholders had the opportunity to vote on the £650,000 offer from FPS.
“The terms of the DBBT offer was such that it was only available if the FPS offer was not progressed.
“The directors would have been guilty of a breach of their fiduciary duty were they not to have taken this course of action as the financial difference between the two offers were so materially different.
“The directors are close to having all the necessary paperwork prepared to allow shareholders to vote on the FPS offer.”
It is understood the DBBT representatives plan to meet on July 18 to discuss the situation in greater detail and will invite all members of the newly-formed DFC development committee.