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Dumbarton sale raises wider issues

Developments at Dumbarton have raised wider issues for the Scottish Football Supporters' Association (SFSA).

Worried by the lack of transparency surrounding the sale of the club to Cognitive Capital, an investment vehicle for Norwegian Henning Kristoffersen and associates, supporters at Dumbarton put a series of questions to the board, most of which have still not been adequately answered.

The issue of offshore assets and the ultimate intentions of the people involved comes into play in a complex and murky story. So does the failure of sponsorship deals.

SFSA co-founder and vice-chair Simon Barrow, who has had a long-standing involvement at Dumbarton, and who was a non-executive director of the club until the end of 2020, is involved with a group of stakeholders monitoring the situation closely and seeking to help ensure the security of the club.

Among the unresolved issues are a behind-the-scenes row about allegations of misappropriation of assets, the involvement of a 'consultant' who has been struck off as a director for 12 years after an investigation by the Insolvency Service, questions about the lawfulness of the granting of securities, severe doubts about the viability of proposals to uproot the club from its present site, and more.

Simon Barrow said: "It seems likely that more information about what is really going on around Dumbarton will emerge in the near future. It certainly needs to.

"But the wider issue here is that clubs in Scotland should not end up as appendages to land deals, with key issues about finance and sustainability shrouded in secrecy and a confusing string of companies operating on and offshore.

"Instead, communities and supporters should be able to know what is happening, have a really decent say and stakeholding, and if possible be in a decisive position to ensure the safety and flourishing of the club they love.

"That's why many in Scottish football now share SFSA's view that we need tough new regulations about finance, ownership and corporate governance across the game.

"Dumbarton and other clubs deserve the security that only proper business transparency and community-focussed ownership can bring.”
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