Dundee faces liquidation threat
On Thursday, October 14, it was revealed that Dundee may be liquidated within four weeks if substantial investment is not found in time.
The Scottish First Division club is on the verge of going into administration, which will only allow the club to continue to operate for the foreseeable future. But if cash is not forthcoming from investors, then the business and its assets may be wound
up.
The club’s players will find out on Friday which of them are to be retained and which will be let go, as Dundee aims to shave £80,000 from their wage bill.
The secretary of the players’ union Fraser Wishart told reporters, "We are in ongoing dialogue with Brian Jackson of PKF and are keeping the players informed."
The management team of Gordon Chisholm and Billy Dodds may also find their contracts terminated as administrator PKF attempts to save the club from going out of business. If Chisholm and Dodds are sacked to save money, it is believed that youth coach Barry
Smith and defender Matt Lockwood may be asked to take charge of first-team affairs.
Dundee currently owes £365,000 to the tax authorities, but it is believed that they hold debts of approximately £2m in total.
Benefactor Calum Melville has pledged £200,000 to try and help the club through administration. Another £200,000 is believed to be needed for Dundee, if they are to have any chance of making it to the end of the season. Fortunately, half of that sum has
already having been donated by local firms and Dundee union chiefs believe that they will be able to raise the full amount.
The administration process could have implications on the field too. The Scottish Football League has the power to deduct points from the club, leaving them at a real risk of being relegated to the Second Division.
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