29-04-2025
Historic SPFL club issue latest update after preferred bidder PULLS OUT of buyout due to health problems
ADMINISTRATORS at troubled Dumbarton say they are now 'actively engaging' with new bidders after preferred bidder Gareth Philips took the decision to walk away from a buyout deal due to ill health.
The Sons, who acquired an immediate 15-point penalty when they lurched into administration back in November, were recently relegated and will begin next season in League 2.
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Dumbarton's future remains precarious
Credit: PA
A further five point penalty will kick in at the start of next season - but hopes were high after administrators reached a deal with Philips to exit insolvency which would have seen all creditors paid in full.
Philips, though, has taken the decision to withdraw from the bidding, placing things back into huge uncertainty.
But now administrators Quantuma say they are working with ''other bidders' and say they are 'football orientated'.
They wrote in a statement: "We can confirm that yesterday Gareth Philips of Pendragon, the preferred bidder, took the decision to remove his offer after receiving further medical advice regarding an ongoing condition he has.
"Over the past two weeks Gareth took the time to speak to members of the club and local stakeholders as part of the due diligence process and we would like to thank him for engaging with everyone and once he knew of his worsening condition, that he let Quantuma know at the earliest possible time.
"He has now offered to support Qunatuma where he can with the transition to a new owner and we thank him for that.
"Quantuma are now actively engaging with other bidders, who we understand are football orientated, and will share further information on this bid as soon as they can.
"The club is still planning as normal for next season but as you will all appreciate timelines will be tighter than normal and there may be delays to the renewal of season tickets etc, this isn't something to worry about and is just part of the process for this close season.
"Everyone involved with the club is focused on getting the best teams possible on the pitches next year but for now the men's team will go to Stenhousemuir on Saturday in search for one last win and while our women's team have a weekend off before being back the following week.
"Please get along to Ochilview to cheer the guys on for one final time this season and keep an eye out on socials for the women's team fixtures over the next few weeks."
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