DAFC Fussball GmbH to take control of DAFCWednesday, 21st Jul 2021
Dunfermline Athletic Football Club is today delighted to announce another exciting move in terms of the future strategic development of our club.
DAFC Fussball GmbH, who purchased 30% of the enlarged share capital of DAFC on 1 September 2020, have now committed to a further 45.1%, to become the majority shareholder in DAFC. Despite holding an option to acquire the remaining shares by 31 May 2022, DAFC Fussball GmbH has taken up this option earlier than the scheduled date.
Despite not being able to travel to Scotland, because of the travel restrictions due to the Covid pandemic, DAFC Fussball GmbH kindly agreed to the existing Board of Directors request to bring forward the acquisition date. This now allows DAFC to implement a number of strategic plans such as planning our new training ground, forming our own Youth Academy once again, further investing in our coaching and medical staff, as well as other exciting planned initiatives.
The individuals behind DAFC Fussball GmbH are a very highly respected group of investors based in Hamburg, Germany. The key investors are Thomas Meggle, Damir Keretic, Nick Teller and Dr. Albrecht Gundermann. Three of them, joined the DAFC Board of Directors on 1 September 2020.
Board Director of DAFC and DAFC Fussball GmbH, Nicholas Teller stated “by agreeing early to exercise the option we are recognising the need for our Club to have financial certainty in these uncertain times in order to make essential investments into the future of our Club. It is important to note that the increase in the stake will take place by way of an increase in share capital meaning that close to all of the proceeds will go to the Club and no one other than DAFC itself will be receiving any of the funds”.
Board Director of DAFC and DAFC Fussball GmbH, Thomas Meggle emphasised “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.”
Board Director of DAFC and DAFC Fussball GmbH, Damir Keretic
stated “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”.
DAFC Chairman, Ross McArthur stated “I said previously that the involvement of DAFC Fussball GmbH as a shareholder, would be transformative for our Club, and we are now on the cusp of making key strategic investments in the infrastructure of our club, which would simply not be possible without their support. These will not only help our future growth, but also increase our chances of success, without diluting our existing culture and community ethos. In addition, there are other planned initiatives that we hope can differentiate our club from our peers.
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. I would encourage all of you to show your support to our new investors by acquiring season tickets or visiting our matches whenever possible in these new and exciting times for our club”
Finally, both parties once again would like to put on record our sincere thanks to our respective legal teams at Thorntons and BTO, for their assistance, professionalism and pragmatism throughout our second round of discussions.
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