Dundee in administration
Monday, November 24, 2003
Article summary
Scottish Premier League side Dundee FC have been placed in administration with some €28.8m of debt.
Article body
Cost-cutting move
The 110-year-old club, who are currently seventh in the top flight and were champions in 1961/62, have been unable to pay players including Craig Burley and Fabrizio Ravanelli for several weeks, and owners Jimmy and Peter Marr have decided that drastic cost-cutting is necessary to save Dundee's existence. Their league rivals Motherwell FC were placed in administration in April 2002.
UEFA Cup campaign
Dundee have had a relatively successful year on the pitch. They reached the Scottish Cup final, where they lost to Rangers FC, and competed in the UEFA Cup, their first European campaign since 1975, before departing at the hands of first-round opponents AC Perugia.
Move confirmed
Accountants Ernst and Young will now handle the club's finances and they confirmed: "Following an application by the company to the Court of Session, Dundee Football Club Ltd has today been put into administration."