Dundee United owner Mark Ogren has confirmed that the club has engaged in “discussions” with potential investors.
However, the American businessman emphasized that no formal deal has been made regarding any parties purchasing a stake in the Tannadice club.
Ogren revealed these discussions as part of a share issue proposal sent to shareholders this week. The proposal involves creating 1,320,000 ordinary shares at 10p each, with the aim of “reducing the overall debt of the company” and “attracting and maximizing potential future outside investment opportunities.”This plan could convert around £5 million of debt and reduce Ogren’s 85% ownership stake in the club.
As of the year ending June 2023, Dundee United owed around £12 million to creditors, primarily to owner Mark Ogren.
This new move could pave the way for external investment, with English Premier League club Brentford reportedly showing strong interest in forming a relationship with the Tangerines.
Ogren addressed shareholders, writing: “As I am sure many of you are wondering, please note that while there have been some discussions with potential investors, we have no agreements in place with anyone at this time.”
Dundee United declined to comment on the matter.
