DUMBARTON will become the first SPFL club to be liquidated since Rangers, after a rescue plan to reform as a newco was finalised.
Formed in 1872, they are of Scotland’s oldest senior clubs and their storied history includes two league championships (one shared with Rangers) and a Scottish Cup win.
Keith Campbell – The Sun GlasgowDumbarton vs Rangers at ‘The Rock’ in 2014[/caption]
But those triumphs were back in the 1800s and for the majority of their modern existence, Dumbarton have bounced around the lower leagues of Scottish football.
The Sons won the old First, Second and Third Division titles and as recently as last year they won promotion to League One via the play-offs.
But they were plunged into administration in November, which saw them docked 15 points and they were relegated back to League Two.
Manager Stevie Farrell has been in post since 2021 but his future could too now be up in the air.
The club was bought over by Canadian businessman Mario Lapointe and there was hope they would exit administration via a creditors voluntary agreement.
However, with the new season just a month away (Premier Sports Cup fixtures start on July 12) there were fears a deal wouldn’t be reached in adequate time,
A progress report by administrators Quantuma, first seen by The Herald, has now confirmed that the club will be dissolved and replaced by a new company.
It will be called Dumbarton Football Club 1872 Ltd, and is wholly owned by Lapointe.
Rangers went through a similar process in 2012, with the club going into administration and then the company being dissolved.
A statement, first reported by The Herald, said: “The proposed exit route (from administration) is now dissolution.
“The administrators will seek approval from the creditors to this variation via a decision procedure using the consent process and, assuming agreement is obtained, will file a notice of dissolution.
“A funding requirement of circa £140,000 was highlighted for the team to complete the season. This funding requirement increases to c. £200k when carried through to the end of June 2025.
“The shortfall has been funded by £118,384 raised by fans and the receipt of a £30,000 non refundable commitment fee which will be discussed further below. The balance of the shortfall will be met from the sale consideration.”
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