Latest news with #Quantuma
Glasgow Times
22-05-2025
- Business
- Glasgow Times
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. READ MORE: Steven Gerrard Rangers path clear as rival 'lands' other job 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.
The Herald Scotland
21-05-2025
- Business
- The Herald Scotland
Dumbarton sale agreed with administration exit timeline set
The relegated Sons were placed in administration and docked 15 points by the SPFL after directors claimed they were left with 'no option' but to call in administrators in November. Fans of the Scottish League One side rallied round, organising a GoFundMe, which raised over £122,000 to keep the club ticking over until a buyer could be found. In a statement Joint Administrators Quantuma have confirmed agreement on heads of terms, with plans to take the relegated Sons out of administration by the second week in June. Hopes of a rescue plan for the Sons suffered a blow in April when Phillips' Pendragon Group Limited have ended their interest in buying the club due to health issues and forfeited the non-refundable deposit paid. Read more: Club bid to lure ex-Rangers star Ianis Hagi with unique clause What Jimmy Thelin can learn from Aberdeen's 'worst team ever' The joint administrators turned to other potential bidders, with Lapointe emerging as an unexpected potential saviour. 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.' While the potential new owner has yet to outline his plans for the club news of a new preferred bidder will come as a relief to supporters who feared for the club's future.
Scottish Sun
29-04-2025
- Business
- Scottish Sun
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. 1 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." Celtic have clinched the Premiership title - now Hatate could leave with SIX players coming in Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
The Herald Scotland
28-04-2025
- Business
- The Herald Scotland
Dumbarton rescue package hopes collapse as preferred bidder pulls out
Fans of the Scottish League One side rallied round, organising a GoFundMe, which raised over £122,000 to keep the club ticking over until a buyer could be found. Owed £1million by the club's holding company Cognitive Capital Oxford based Gareth Phillips agreed heads of terms with administrators earlier this month in a proposal which would have averted litigation and retrieve his outstanding cash by taking the club out of administration, paying off outstanding creditors and pursuing the planning permission required to build homes on development land surrounding the stadium. In a savage blow to hopes of saving the debt-ridden club, however, administrators Quantuma have now confirmed that Phillips' Pendragon Group Limited have ended their interest in buying the club due to health issues and forfeited the non-refundable deposit paid. Insisting talks are already underway with alternative bidders Quantuma managing director and joint administrator Ian Wright said in a statement: 'On 15 April, Craig Morrison and I, together, the joint administrators of Dumbarton Football, announced that we had agreed Heads of Terms with Gareth Phillips, in a deal which would see the club exit from administration. 'With regret, today I must announce that due to ill health, Mr Phillips has had to withdraw his offer and in doing so has forfeited the non-refundable deposit which was paid. 'We are fortunate to be in a position where we have other credible parties who had expressed an interest in acquiring the club out of administration. We have already engaged with these parties and will provide a further update as soon as we are able to do so.'
