Football

Aberdeen Announce Plans For Big Change to Club to Secure Multi-Million Pound Investment

Aberdeen Announce Plans For Big Change to Club to Secure Multi-Million Pound Investment

Aberdeen have announced plans for a big change to the club to secure multi-million pound investment in the future.

The Dons have some big plans already moving forward, with the Kingsford development at the top of those.

They intend to build a new professional and youth academy that will be used as their first team hub as well as a state-of-the-art training ground for their youth sides.

And the same development will include their new £50million stadium, expected to be completed by 2022/23.

Now Aberdeen have released a statement saying the board are proposing to switch from a public limited company to a private limited company in order to secure further investment for the club.

Chairman Stewart Milne, per afc.co.uk, read: “This change will facilitate investment in the Club by way of share subscription. This will allow a currently proposed investment of £2million to proceed and increase our ability to attract further investment in the future.”

Aberdeen are subject to Rule 9 of the City Code on Takeovers and Mergers, which means anyone who, together with associates, has shares which carry 30% or more of the voting rights in a public company has to make an offer to acquire all of the company’s issued equity shares.

By changing to a private limited company, that would immediately free up £2m of investment to complete the existing work and then begin work on the stadium.

You can read the full statement here.

Football

More in Football

Henrik Larsson ‘Set’ For UK Managerial Debut With English League One Side

Daniel CawSeptember 21, 2019

Video: Neil Lennon Reacts to Angelo Alessio Comparing Celtic to Juventus

Daniel CawSeptember 20, 2019

Steven Gerrard Defends Borna Barisic Amid Outside Opinions On Their Relationship

Daniel CawSeptember 20, 2019

Video: Jurgen Klopp Compares Chelsea to His Old Borussia Dortmund Team

Daniel CawSeptember 20, 2019

Steven Gerrard Praises Alfredo Morelos After ‘Best Game in a Rangers Shirt’

Daniel CawSeptember 19, 2019

Rangers Fans Pile Praise on Borna Barisic for ‘Superb’ Feyenoord Display

Daniel CawSeptember 19, 2019

Video: Liverpool Flop Loris Karius Makes Another Horrendous Mistake for Besiktas

Daniel CawSeptember 19, 2019

Video: Liverpool Loanee Sheyi Ojo Scores Absolute Belter For Rangers Against Feyenoord

Daniel CawSeptember 19, 2019

Neil Lennon Criticises Spanish Referee for ‘Bizarre’ Performance in Rennes v Celtic, Praises His Players

Daniel CawSeptember 19, 2019