Suspicious Leishman is not convinced by Swiss deal

Sports writer

Wednesday 20 March 2013

Jim Leishman has ruled out any rescue package for Dunfermline Athletic that involves an injection of funds from a Swiss-based investor who has been in discussions with the club's majority shareholder.

Jim Leishman 'would not recommend' Swiss investor for Dunfermline

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Richard Wilson

Gavin Masterton is currently in Switzerland, having grown alarmed at the hostility shown towards his family after Her Majesty's Revenue and Customs served a winding-up notice on the company that owns the club, and has been in talks with an unnamed individual about investment to try to save the club from liquidation.

However Leishman, who chairs the Steering Group that is attempting to raise the funds among local businesses and fans to buy the club, has dismissed supporting a plan that involves the Swiss-based investor. Herald Sport understands that there are concerns about how much money would have to be paid back over a short period of time, and also of an agent wanting to showcase his players at the club. Masterton and chairman John Yorkston are trying to attract investment to tide the club over, with £134,000 due to the tax man. A further £450,000 is due to creditors, while the players are owed £35,000 in wages from last month, with March's salary run of £95,000 approaching. The club have a week before the winding up order is acted upon."The investor in Switzerland was not a Dunfermline supporter and, as far as the steering group was concerned, there was no way forward with that," explained Leishman. "They were speaking to him on behalf of the board, not on behalf of this steering group. I have since found out who he is and what they are about and we would not recommend this person to the Dunfermline supporters."The Steering Group have been facilitating talks among various fans groups and local business people to try to raise £250,000 to buy Masterton's 94% shareholding. This would leave the stadium owned by East End Park Limited, which remains part of Masterton's Charleston House group of companies. Due diligence was started yesterday by accountancy firm Campbell Dallas, but a number of the potential investors are concerned at losing their money due to the club's complicated financial circumstances. The Steering Group held a meeting last night to decide on a strategy for their plan, which involves 50% of the club being owned by supporters and five 10% chunks being owned by non-executive directors."We've got this clock ticking with the HMRC action," said Bob Garmory, a member of the Steering Group. "A number of people have shown a desire to be involved with the rescue package, but there are further questions to be asked about viability. Significant movements have been made on how the stadium is to be dealt with. We think we have something approaching a viable plan but we have a lot of information to process and a lot of things to do in a short period of time. The Steering Group is willing to work with anybody who has the interests of Dunfermline Athletic at heart."Partick Thistle have offered assistance by pledging to pay more of the gate receipts from their visit to Firhill next month. If Dunfermline bring more than 500 supporters to the game, the net income from the surplus will be paid to the visitors, as long as it is guaranteed to be spent solely on player wages. Thistle will also charge any Dunfermline supporters under 16 £5, with all the money going to their club (children normally get into Firhill for free), and fans can buy tickets now.

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Suspicious Leishman is not convinced by Swiss deal

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