Following the Club issuing a press release today re the above, below is an initial update from the Committee.
Whilst we note with concern the announcement of significant operating losses for the year to 30 June 2016 by Dundee United today the detailed figures when available have to be viewed in the context of operating losses having also been recorded in the financial years 2012, 2013, 2014 and 2015. This obviously puts a significant strain on cash flow thus having a huge impact on the decision making of the Club. It is worth noting that in each of the previous years the Federation has been given assurances by the Club that we would be nearer breakeven point the next year, this indeed had never happened and raises obvious questions about the management of the Club. This should be viewed in conjunction with our question submitted on 14 December 2016 which continues to be completely ignored in today’s press release.
The question was, " When we consider the football and financial “disaster” which was last season did any of the Board or senior staff consider resigning or is the blame 100% due to the two managers / coaches with nothing attributed to either their selection or the management of the these positions?"
The accounts detail that a further £200,000 loan note was advanced in January 2017 to provide working capital thus increasing the Club's level of debt and adding to the existing cost base. This surely cannot be a satisfactory long term solution to Mr Stephen Thompson’s statement a year ago that a serious cash investment would have to be found in the not too distant future.
We also wonder what impact this statement has on the current and future footballing staff in relation to a Club which appears to have a strategy of cutting costs for the foreseeable future, again this asks questions in relation to the ambitions of the Board of Directors who oversee all aspects of the Club.
Finally, the Federation would rather be asking and discussing these concerns with the Chairman and Directors of DUFC in the privacy of a civilised meeting however we believe that our Members, who are some of the most loyal and dedicated fans of our great Club, are entitled to know the concerns there are relating to the Clubs financial and day to day running.