Debt free

Discussion in 'Aberdeen' started by Rubber Johnny, Nov 12, 2014.

  1. Rubber Johnny

    Rubber Johnny Well-Known Member

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    NEWS: 15 million pounds of debt is being wiped out at Aberdeen football club.
    The Dons have been "in the red" ever since the construction of Pittodrie's Richard Donald Stand back in 1993.
    But now - thanks to a major investment from local couple Willie and Elaine Donald - Aberdeen could soon be back in the black.
    Aberdeen FC Community Trust is also becoming a major shareholder - and Aberdeen Asset Management and Stewart Milne Group have agreed to swap debt for increased ownership of the club.
    As a whole, the deal is worth £14 and a half million - almost as much as the club owns in total.
    Chairman Stewart Milne says the deal will let the club move forward with building training facilities - and a new stadium to replace Pittodrie.

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