Dundee Utd reject Thompson bid

Eddie Thompson (left) wants to move fast

Dundee United chairman Doug Smith has rejected Eddie Thompson's share offer, but the grocery millionaire insists that his takeover bid is not dead.

Thompson told BBC Scotland that his offer to Smith was for a mere 10% of the Scottish Premier League club's shares.

These are presently held by current directors, but Thompson is still waiting to hear from Jim McLean about an offer for the former chairman's 41% stake.

Smith insists that Thompson has again failed to identify his backers and the financial weight they might have behind them.

Thompson responded: "The cash that's coming through, which is roughly £1m, is coming purely from Eddie Thompson.

Fans are backers

"What I have said is that there are lots of people who are fans of United who want to back the club by putting money into the club by getting shares.

"These are my backers. There's £3m of them out there."

He has again failed to identify the mystery investors who he has stated publicly on several occasions are prepared to back him

  United chairman Doug Smith

Thompson admitted that the present United board could still veto any willingness on McLean's part to sell his shares.

"At least two directors would like to get out, but there is at least one individual who would see that, if I got in there, there would be no need for him there," said Thompson.

The businessman has received backing from a large section of fans and insisted: "They want to see United restored to a place where they were in Scottish football and the majority felt that I was the person who could lead them there.

"They will be as disappointed as I am that United have acted so quickly to dismiss this offer."

Specify the sums

Smith had said: "We are not prepared even to consider Mr Thompson's offer, because he has again failed to identify the mystery investors who he has stated publicly on several occasions are prepared to back him and invest in Dundee United.

"This is despite the repeated, and what we consider to be perfectly reasonable, requests from the club to do so.

Jim McLean wants to sell his shares

"If Mr Thompson has any feelings or respect for Dundee United and our supporters, he will tell the club now who these people are and would specify the sums they propose to invest in Dundee United.

"In the present circumstances, however, with the continuing procrastinations on this issue, we must conclude that these people simply don't exist and have never existed.

"And, it's for these reasons, Mr Thompson's approach has been rejected by the board and he has been informed of this by letter.

"The board of directors now consider that this matter is at an end."

Thompson had submitted his offer to buy out the shares of McLean on Monday.

Manager's position safe

Controversial McLean left United after striking BBC reporter John Barnes during an interview and has made it clear that he wants to sell his stake in the club.

He had previously stressed that he would not sell to Thompson but later hinted that circumstances had possibly now changed.

United only escaped relegation thanks to a late run of results, but Thompson stressed that the positions of present manager Alex Smith and his coaching staff would be safe should he take over.

Having had a bid rejected in October, Thompson had waited until the end of the Scottish Premier League season before making his latest move.

He handed in an offer for the purchase of shares currently held by McLean and his family, plus other shares that have been made available.