Dundee FC have 50/50 chance of survival
Mon 18th Oct 2010 | Football Club Administration
Dundee Football Club have been given a 50% chance of survival by administrator Bryan Jackson after he made nine players redundant.
Manager Gordon Chisholm and his assistant Billy Dodds also lost their jobs with the First Division club.
Jackson, of PKF, revealed the club's debt was around £2m, of which £420,000 is owed to the tax authorities.
Jackson then warned that the Dens Park outfit only had enough funds to operate until Christmas and would fold unless fresh investment is found.
"This club is facing the most difficult fight of its life," said Jackson, who has overseen similar situations at Clydebank and Motherwell.
"We must get money in before Christmas. If I had to guess, I would say there's a 50-50 chance of survival."
However, former chief executive Dave MacKinnon claimed that there could be a possible buyer for the club.
"I was approached a couple of months ago by people who were maybe interested in taking over because they didn't like what was going on," said MacKinnon.
"They key is the debt level, because if it's totally out of hand, then you need deep pockets to sustain a club."
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