Aberdeen announce new investment and deal with Atlanta United in sweeping boardroom changes

Aberdeen have announced Dave Cormack will take over from Stewart Milne as chairman in a restructuring at the club which includes significant financial investment and a new partnership with MLS side Atlanta United.

Milne will leave his post after 22 years to make way for a “planned succession process” led by Cormack and new investors, with several board members, including chief executive Duncan Fraser, also departing from their roles at the club.

In a massive clearout of the executive team, Ian Jack, Duncan Skinner and Craig Brown will step down to free up room for new investment as part of ambitious plans at Pittodrie.

Cormack, a lifelong Aberdeen fan, is a successful businessman with ties in America, and has already invested £11.2million into the club since June 2017. He will provide a further £5million of investment as “working capital for the Club’s day-to-day operations”.

The link with Atlanta could prove to be significant. Cormack is a season ticket holder at the club, who are owned by the billionaire owner of NFL side Atlanta Falcons, Arthur Blank. In a statement, Cormack said:

“As an Aberdonian and lifelong Dons fan, I’m honoured and privileged to become chairman of the famous Aberdeen. I’m also pleased to be able to announce a strategic partnership with Atlanta United, details of which will be announced [on Monday].

“There are some real challenges ahead but, with the support of my fellow directors and new investors, along with our fans, we will do our utmost to deliver success which, at the end of the day, is measured by the team’s performance.

“The new investment and this partnership with Atlanta will allow us to punch above our weight, aspiring to attain UEFA’s top 100 status, and trying to level the playing field against significantly higher income generated by Celtic and Rangers.”

A statement on the Atlanta United website provided further details of the deal with Aberdeen.

“The strategic partnership will serve to expand Atlanta United’s reach globally and will be an opportunity for both clubs to share knowledge and experience including player and youth development, fan experience and venue best practices. The partnership also has technical advantages by extending Atlanta United’s scouting network into a new region and allowing for a development pipeline between the clubs.”

More is expected to be revealed in the club’s upcoming annual general meeting, particularly regarding the development of a new stadium at Kingsford on the outskirts of the city, and where the estimated £50million of funding will come from for construction.

Aberdeen recently opened their new training complex, named Cormack Park after the new chairman, with Sir Alex Ferguson on site for the unveiling. The most successful manager in the club’s history, Ferguson took the opportunity to joke that now was the time for Milne to open the purse strings because “you can’t take your money to the grave”.

Departing chairman Milne, who will leave his post after the AGM, said:

“For four years, we’ve been working on a succession plan. It’s been no easy task to find the right person who is willing to take on the onerous role of Chairman, with responsibility for both the financial health and growth of the Club.

“In bringing Dave onto the Board and then appointing him vice-chairman, we viewed him as the natural successor. He qualifies on both counts. He is prepared to take on the commitment and has already proved his ability to secure significant new investment. Importantly, he is passionate about Aberdeen and the Club.”