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United confirm sale of training ground

United confirm sale of training ground

The sale of Dundee United's Gussie Park training facility to vice-chairman Mike Martin has been confirmed.

The proposal had required a 50% plus shareholding vote in order to go ahead, and Martin and football club chairman Stephen Thompson already hold around 80% of the shares between them.

"The financial challenge of the Club being in the Championship is obvious," Thompson said in a club statement on United's official website. "Since Christmas 2017 we have brought in revenue via only two home games. The board is very grateful for this voluntary commitment by Mike that brings working capital into the Club and ensures the focus of everyone remains on the absolute priority of a return to the Premiership.

"While battling these financial challenges we have utilised the options of secured property loan agreements with several parties and while these parties have been of great assistance this deal allows the Club to bring control back to the boardroom table as well as put in place an agreement to buy it back when the time is right."

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Writer:Vital Arabs
Date:Tuesday February 27 2018
Time: 11:49AM

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