Lithuania may offer lifeline to Dundee

The administrators in charge of Dundee are preparing to begin talks with a consortium of Lithuanian businessmen.

It is understood that administrator Tom Burton is willing to investigate whether a potential rescue package from eastern Europe can become a potential lifeline for the crisis club.

Dundee have just secured their short-term future by selling Gavin Rae to Rangers for more than £200,000 (€283,240) – but debts to the Bank of Scotland alone are more than £13m (€18.4m).

Burton has managed to halve weekly losses to around the £50,000 (€70,808) mark but no long-term solution appears to have been found.

Controversial lawyer Giovanni di Stefano claims he is willing to buy Dens Park and its car park for £835,000 (€1.2m).

He has also registered the name of a new company – Dundee City FC – that he hopes could take over should Dundee disappear into liquidation.

A spokesman for administrators Ernst and Young refused to comment on di Stefano’s claims.

But it did seem apparent that the Lithuanian alternative is an avenue which is being explored.

He said: “We have a duty of care as far as the club are concerned not to discuss proposals or offers made to us until such time as they become reality.”

It has been suggested that the potential backers from Lithuania intend to use a controlling stake in Dundee as a way of showcasing players from their homeland.

In recent seasons, the best players in Lithuania have moved to Russia before securing more lucrative switches to western Europe – so using Dens Park as a showroom would allow the profits to remain in either Scotland or Lithuania.

Di Stefano wants to buy the stadium itself for £775,000 (€1.1m) and then lease it back during the period of administration for a £2,000 (€2,832) a month.

A letter to the administrator, which di Stefano had made public, read: “Our client will also gladly caveat that the sole purpose for the use of the land will be as a football club and not for any property speculation.

“Our client will also caveat that the land will comply with all requirements made by the SPL including underground heating and pay for such.”