Deal agreed to sell Dumbarton FC to Canadian entrepreneur
Administrators have confirmed plans for entrepreneur Mario Lapointe to take ownership of the club.
The Canadian is the owner of an electronic manufacturing service provider based in Quebec and stepped in after ill health forced the collapse of a previous deal with Oxford-based Gareth Phillips.
The Sons were plunged into financial trouble on November 18 last year, after officials announced they had been left with "no option" but to appoint Quantuma – a business advisory firm – to manage the administration process.
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Stevie Farrell's men were deducted 15 points by the SPFL last season and were subsequently relegated to League Two.
Administrators have announced that a deal has been struck and that they will now work with Lapointe to deliver the transaction "by the second week in June".
A statement from Quantuma 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 and in particular football.
'The Administrators will now work with Mario and his advisors to deliver the transaction by the second week in June allowing everything to be in place for the new season, planning for which is well underway.'
Dumbarton fans rallied together after the administration announcement last year, launching a GoFundMe campaign that has raised over £122,000 at the time of writing.
The funds have helped cover player and staff wages, as well as running costs.
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