Forum List | Football Forum
| Topic: Dumbarton to exit admin |
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| 1. Author: Playup_Pompey Date: Tue 15th Apr 2025. 16:38 https://dumbartonfootballclub.com/an-update-from-the-joint-administrators/ The Joint Administrators of Dumbarton Football Club Limited can confirm that they have agreed Heads of Terms with Gareth Phillips on a proposal that would see the Club exit Administration solvently and with all creditors paid in full. Fans will be aware that the Administrators have been engaged in litigation against Pendragon Group Limited of which Mr. Phillips is the principal. The full terms of the proposal are subject to confidential negotiations, however as part of the proposal, the litigation with Pendragon would be concluded on the basis Pendragon would not hold security over the Club’s assets. Mr. Phillips would introduce sufficient funding to stabilise the trading of the Club going forward and the Administrators are required to be satisfied that there is security for cash flow and a business plan to provide support for the Club for the next 3 seasons. A non-refundable deposit has been received by the Administrators which will cover any short term trading shortfall whilst the transaction is being negotiated, until the target completion date in early May. The Administrators will now work with Mr Phillips and his team to conclude this proposal to allow planning for next season to commence.  Reply |
| 2. Author: Ahoy!Ahoy! Date: Tue 15th Apr 2025. 16:47 Brilliant news. Reply |
| 3. Author: Dave_1885 Date: Tue 15th Apr 2025. 20:16 Great to see another two clubs fight off administration and get out of it! Many clubs have done so, unlike a certain one who’s fans walked away…….. Reply |
| 4. Author: kelty_par Date: Wed 16th Apr 2025. 08:05 Selling the club to the people who owned it, the people the club were suing, and people who the police were called to investigate the way administration came about isn`t exactly the best news in the world either, tbf. It would be like someone asking the police to investigate Masterton only for him to buy the club back. Seems like the owner is only putting the cash up to the administrator in order to shut down any investigations. Sounds dodgy. Reply |
| 5. Author: kozmasrightfoot Date: Wed 16th Apr 2025. 08:26 Aye, sounds a bit wonky donky to me. Hope it works out for them. Pars fan. Magpies fan. Mens tennis fan. Alternative rock fan. Not a fan of much else. Reply |
| 6. Author: buffy Date: Mon 28th Apr 2025. 18:36 Not so good news ~ the person offering to take them out of admin has now been withdrawn due to ill-health. https://www.bbc.co.uk/sport/football/articles/c99pm8rzx9do ”Buffy’s Buns are the finest in Fife”, J. Spence 2019” Reply |
| 7. Author: neils Date: Mon 28th Apr 2025. 20:25 Oh dear, I fear for them. They weren`t living beyond their means either, just murky business. One of our most historic clubs too. Reply |
| 8. Author: Dave_1885 Date: Tue 29th Apr 2025. 08:09 Says in article there are other interested parties (or were) so hopefully they get something sorted Reply |
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