Aberdeen are to have millions of pounds of club debt converted into 'preference shares' which may help new stadium plans.
Nearly £6m in loans owed to two major shareholders by Aberdeen Football Club will be converted.
The £3.7m due to chairman Stewart Milne and £2.25m owed to Aberdeen Asset Management will be turned into shares, cutting Dons' debt to £10.82m.
Some of the £5.75m is to be invested in development costs of a new stadium.
"Over the past few years the major shareholders have invested substantially in the club with interest free loans now standing at £5.75m in aggregate," said chief executive Duncan Fraser in a statement on the club's website.
"Part of this amount has been used to finance the development costs of the new stadium and part to provide finance for the business.
"The major shareholders now wish to make this investment in the business permanent and to this end, and subject to shareholder approval, it is proposed to convert the loans over time into a new class of 'preference shares'."
The agreement will be subject to approval from shareholders at the club's Annual General Meeting next month.
Still over 10 mill of debt, but more manageable.
Great gesture from the chairman, but he's still a cu*t
I saw that somewhere. I'm still not sure what it all means, although I feel happy enough to go along with your conclusions, most especially your last line, even if I start to slightly forget why it is that I dislike and distrust Milne so much. On the plus side, he's got lovely, sad, expressive eyes.
As the rambling mod of the AFC site, this is no statement to make.
Shut it, you.
Attendance Prediction league following the Aberdeen v Inverness match (no change):
1) Eric Cartman...................78
2) Johnny Rep...................277
3) Surreal Dance...............383
4) Psychosomatic...............424
5) Pudâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦...505
6) MD 20/20......................571
7) Sunliniâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦....618
8) Bhoy From Brumâ¦â¦â¦â¦....800
9) MalteseMick...................854
10) Fabulous Fabio..............968
11) Tina...........................3456
12) Edgeâ¦â¦â¦â¦â¦â¦â¦â¦â¦â¦....3525
That sounded like some game, J-Rep. A real soul-crusher. I think the "bottling it" charge may stick. It seems justifiable. Why are we such scaredy-cat pricks? Baffling.
(Well done, Stereo, for getting your prediction in. Hardcore. Good man.)