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Last Updated: Wednesday, 5 January, 2005, 10:36 GMT
Supporters take shares in Dundee
Dundee fans helped save the club from liquidation
Fans have been given a 5% stake in Dundee Football Club.

Dee4Life has raised 160,000 since November 2003, helping the Scottish Premier League club out of administration last year.

And that has been recognised by the club allocating 1.6 million shares to the supporters' group at 10p each.

The club's owners, Jimmy and Peter Marr, are matching that commitment by gifting a further 1.5 million shares.

Acquisition of shares will be formally ratified at the club's annual meeting in April.

Dundee director and Dee4Life founder member George Knight said: "It's a great honour to be the first fans' representative to be allocated a seat on the board.

They have set the standard for supporters' groups
Dundee chief executive Peter Marr
"It's testimony, however, to the hard work, passion, enthusiasm, commitment and dogged determination that has been demonstrated by so many people over the last year or so in their quest to do whatever it took to keep our football club alive.

"Alive it is, still in the Scottish Premier League, more importantly, still at Dens Park and still with the manager, Jim Duffy, who has done so much himself to safeguard our future.

"The past is the past and we cannot change that - we must accept it.

"We all need to look forward and I am convinced Dee4Life and the new board will work very closely and share the mutual goals and objectives."

Dundee chief executive Peter Marr believes the major shareholding is just reward for the fans' group.

"There will be many clubs in Scotland that will look at Dee4Life and their achievements with a degree of jealousy.

"They have set the standard for supporters' groups in Scottish football and proved what can be achieved with energy, vision and dedication.

"Every Dundee fan would want to see that talent and commitment locked into the club for life and we hope this is just the first step towards Dee4Life owning a bigger and bigger share of this football club."

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