Scottish Football - Dunfermline administrators receive bid

The administrators dealing with Dunfermline's fight for survival have received one bid for the club, Press Association Sport understands.

PA Sport
Scottish Football - Dunfermline administrators receive bid

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Fans ground Pars United have lodged a bid to take over at East End Park

The fans group Pars United - which hopes to raise £500,000 through an appeal to supporters - has lodged a formal bid with football finance troubleshooter Bryan Jackson of accountancy firm BDO.

And another unnamed group is expected to make its own offer before Tuesday's 5pm deadline for final bids. However, the future of the Irn-Bru Second Division club remains uncertain.

The Pars' East End Park stadium is owned by East End Park Limited, a company set up by former club owner Gavin Masterton that entered administration last month with multi-million pound debts.

Insolvency experts from Edinburgh firm KPMG are running its affairs and anyone hoping to buy the Fife outfit will have to strike a separate deal with it if they are to hold onto the ground that has been Dunfermline's home since 1885.

Dunfermline were put into administration back in March in a bid to stave off a winding-up order launched by Her Majesty's Revenue and Customs.

They owe the taxman £134,000 and also have further debts worth around £8.5million outstanding to majority shareholder Masterton and other companies.

Jackson will meet with creditors on Wednesday and if one of the bids is deemed acceptable, another meeting to vote on a Creditors Voluntary Arrangement will be held on July 12.

A CVA will be successful if 75 per cent of those owed money vote to accept a pence-in-the-pound deal.

Jackson refused to comment on the bid lodged on Tuesday but did say: "We are progressing. The club's chances of surviving are still little more than 50-50. But at least they are on the right side of the balance. When we came in back in March it was the other way about. Now things are at least on the good side of 50-50."

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