Published: Tuesday, 15th April, 2008 10:00
SONS TAKEOVER DEAL COMPLETE
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NEW ROLES: Alan Jardine and Gilbert Lawrie
Pic by: PICTURES BY DONALD FULLARTON
DUMBARTON Football Club has been taken over after a deal was struck to buy out main shareholder Neil Rankine.
The Sons’ board of directors has announced that following extensive negotiations the sale of the majority of the shares is now complete.
The buyer has been announced as a special purposes corporate vehicle company named Brabco.
Brabco is controlled by the club’s director, Callum Hosie.
It was annouced as the board’s preferred bidder and says its priority is to secure the long term future of the club and to improve its standing both on and off the park.
The move has been broadly welcomed by the Sons Supporters Trust.
Alan Findlay, Trust secretary, said: “The news that the saga of the sale of Neil Rankine’s majority shareholding has come to a conclusion is indeed welcome.
“The Trust board met on Saturday morning to discuss the takeover and until we have met the new owners and learn of their intentions for the club our position is one of caution.”
Mr Rankine is now hoping to retire to Miami where he intends to follow his love of basketball.
He confirmed that the sale was complete and that he was delighted that the buyer has the best interests of the club its heart.
Following the board meeting on Wednesday, Ian MacFarlane has tendered his resignation as chairman and as a director, due to family issues, effective from the end of the current season.
However, he had accepted the role as the club’s honorary president.
After 12 years of hard work and support, eight as a director, the board took the opportunity to thank him, and Mr Rankine, for all their work over the years.
As a result of Mr McFarlane’s resignation, Alan Jardine will assume the role of chairman and Gilbert Lawrie has been appointed with immediate effect as chief executive officer.
Mr Findlay added: “The installation of Gilbert Lawrie, a true fan, as the CEO is good news and we look forward to working with him as part of our commercial remit for the new season ahead.”
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