DIRECTOR MIKE MARTIN PURCHASES GA ARENA

Dundee United today completed the sale of the GA Arena to Director and shareholder Mike Martin.

The transaction ensures an injection of working capital into the business to offset the financial challenges of a second successive campaign in Championship football as well as minimising the Club's dependency on secured property loan agreements.

Mr Martin, who also recently purchased the shares of former director Justine Mitchell, has further agreed to an option for the company to repurchase the land at no commercial gain to himself.

Chairman Stephen Thompson said, “The financial challenge of the Club being in the Championship is obvious. Since Christmas 2017 we have brought in revenue via only two home games. The board is very grateful for this voluntary commitment by Mike that brings working capital into the Club and ensures the focus of everyone remains on the absolute priority of a return to the Premiership.

"While battling these financial challenges we have utilised the options of secured property loan agreements with several parties and while these parties have been of great assistance this deal allows the Club to bring control back to the boardroom table as well as put in place an agreement to buy it back when the time is right.”