Historic SPFL club agrees sensational SECOND administration rescue deal – just weeks after first collapsed at 11th hour
They have two league titles and a Scottish Cup to their name
LIFE AGAIN Historic SPFL club agrees sensational SECOND administration rescue deal – just weeks after first collapsed at 11th hour
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DUMBARTON have agreed to a deal that would see them exit administration - just WEEKS after a previous buyout collapsed.
The cash-strapped outfit are one of Scottish football's oldest teams with a history going back to 1872 but in the last 12 months they have suffered from financial meltdown.
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Dumbarton were plunged into administration in November and club directors claimed they had "no option" but to do so.
The team acquired a 15-point penalty that ultimately had a huge effect on their relegation at the end of this season.
A previous deal with Gareth Phillips and his Pendragon Group broke down when the investor pulled out due to ill-health.
But now the Sons have agreed to terms with Canadian businessman Mario Lapointe and are beginning to plan for the season ahead.
A statement read: "Following the withdrawal of the proposal from Gareth Phillips due to ill health, the Joint Administrators of Dumbarton Football Club Limited can confirm that they have now agreed Heads of Terms on a deal to sell the club to Mario Lapointe.
"Mario Lapointe is a Canadian entrepreneur and business owner with a passion for sport, particularly football.
"The Administrators will now work with Mario and his advisers to complete the transaction by the second week of June, allowing everything to be in place for the new season, planning for which is already well underway."
More to follow.
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