Gavin Masterton hopes to announce today that he will place the company that owns Dunfermline Athletic into administration.
Agreement has still to be reached on a guaranteed source of external funding to cover costs during the administration period, but Herald Sport understands one individual is prepared to provide the money required to prevent the business going into liquidation following a winding up order being served over an unpaid tax bill.
Herald Sport revealed last week Masterton was seeking to put the business into administration in an attempt to prevent liquidation. Talks were ongoing yesterday, and it is expected an administrator will be appointed today. A petition will then be raised in the Court of Session tomorrow to persuade a judge that administration is better for the creditors. Although the deadline for the £134,000 owed to Her Majesty's Revenue and Customs is 5pm today, Herald Sport also understands figures around the situation believe that HMRC will agree to the administration.
Masterton met with staff yesterday – excluding players – and said he intends to make an announcement today. The delay has been over funds to finance the club through the administration period.
"Gavin met with the staff to keep them updated," said Jim Leishman, the chair of the Steering Group set up to try to find a way to save the club. "He told everyone an announcement will be made on Tuesday on what is going to happen next. The Steering Group handed back to Gavin and the board at the weekend and he's the one in charge of the club's future."
Administration provides breathing space, which will allow a buyer to make an offer. The Pars Community, a coalition of fans groups, is ready to step in, but the situation is complicated by the fact that Dunfermline's only assets are the players. The stadium, and a profitable events business, are owned by East End Park, which is also part of Masterton's failing Charlestown House group.
East End Park Ltd will soon go into administration as a consequence of Dunfermline's fate. Supporters will want to buy the club and the stadium, but a rival bidder – including Masterton himself, if he can raise the funds – could buy the ground and charge rent.
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