Dumbarton constituency MSP Jackie Baillie said: ““As a supporter of Dumbarton Football Club I have concerns over the new owner’s connections to the club’s former owners. It looks like the same people in new packaging.
“I think fans of Dumbarton Football Club will be left with a lot of questions over Gareth Phillips’ past associations and it may be prudent for him to address these at the earliest opportunity.
“Meantime, I am seeking a meeting with both Mr Phillips and the Scottish Professional Football League.”
Dumbarton – one of Scottish football‘s oldest teams, dating right back to the late 1800s when they were Scottish champions and regular trophy winners – were recently relegated to Scottish League Two, having suffered a 15-point penalty along the way.
But the administrators are said to have confirmed they have reached agreement with Gareth Phillips and his Pendragon Group which will see him provide funding for three years but NOT get security over the club’s assets.
In the process, the deal means that the administrators’ current legal action AGAINST Phillips and Pendragon would be concluded.
It’s being given a cautious welcome as a positive development for the club, although many big questions remain unanswered.
Dumbarton’s administrators Quantuma said in a statement: “The Joint Administrators of Dumbarton Football Club Limited can confirm that they have agreed Heads of Terms with Gareth Phillips on a proposal that would see the Club exit Administration solvently and with all creditors paid in full.
“Fans will be aware that the Administrators have been engaged in litigation against Pendragon Group Limited of which Mr Phillips is the principal.
“The full terms of the proposal are subject to confidential negotiations, however as part of the proposal, the litigation with Pendragon would be concluded on the basis Pendragon would not hold security over the Club’s assets.
“Mr. Phillips would introduce sufficient funding to stabilise the trading of the Club going forward and the Administrators are required to be satisfied that there is security for cash flow and a business plan to provide support for the Club for the next 3 seasons.
“A non-refundable deposit has been received by the Administrators which will cover any short-term trading shortfall whilst the transaction is being negotiated, until the target completion date in early May.
“The Administrators will now work with Mr Phillips and his team to conclude this proposal to allow planning for next season to commence.”
Sons Supporters’ Trust, who are working towards raising £130,000 to help keep the club afloat, have previously asked Philipps to work in the best interests of the club.
Their director on the board Cameron Watson said: “We have been monitoring the club’s situation and that of Cognitive Capital who currently hold the majority shareholding, as well as DFC Ltd and note three very relevant pieces of information.
“We would ask that he engage constructively with Quantuma to aid the club in coming out of administration at the earliest point in time, via a sale to a third party who have the genuine interests of the club and footballing community at heart, not simply a desire to build houses.”
Dumbarton FC down all the years from the 19th century when they club was founded.