Fan summit on club’s future
STEPHEN THOMPSON is set to front up with fans groups who have demanded answers to questions about Dundee United’s future.
The Tannadice chairman has come under fire following the release of the club’s 2015/16 accounts last month which revealed losses of £1.55million.
The Federation of DU Supporters Clubs boycotted Monday’s Arabs Summit after learning Thompson would not be in attendance.
Record Sport understands the influential group are concerned about the financial plight of the club with current operating losses believed to be up to £40,000 per week.
The accounts revealed a loss of £1.55m – but that figure included the sales of Nadir Ciftci, John Souttar and Ryan McGowan.
And the departures of managers Jackie McNamara and Mixu Paatelainen forced United to stump up over £400,000 in compensation.
McNamara and his staff ’s dismissal cost £180,000 while Paatelainen and his backroom team had two years left on their deals.
United made huge cuts in the wake of relegation but concerns have been growing about the stability of the club in the Championship with soft loans of more than £500,000 from banker Alastair Borthwick and millionaire Hugh Duncan required to deal with the cash flow this term.
United will need to negotiate the play-offs to get back to the Premiership and the supporters are looking for assurances the club could cope if they fail to go up. It is understood the summit on Monday did little to ease fan fears.
Associate directors David Dorward and Colin Stewart met with representatives of the Arab Trust, the Dundee United Supporters Foundation, the Business Club and United Ladies of Tannadice.
But the Federation refused to attend and dissatisfied fan groups were left disappointed by the chairman’s no show, calling for a showdown.
Thompson has now agreed to discuss the club’s situation at another meeting in the coming weeks.
A club statement said: “Constructive and professional dialogue was had on a number of topics raised by the groups. It is anticipated a follow up meeting, at which Stephen Thompson will be present, will be scheduled for early next month.”
The chairman has admitted the club face severe financial challenges but has repeatedly dismissed talk United could slip into administration should they fail to get back up.
Speaking ahead of the agm, Thompson said: “Much work is being done in parallel with our on-field investment to reduce operating costs.
“Because of this ongoing diligence we are confident that the positive effect will be demonstrated when we report our next figures.”
Record Sport tried to contact Thompson last night but he was unavailable for comment.