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It may
be no surprise that the man who wants to replace Jim McLean as
Dundee United's major shareholder and driving force likens the
club to a tin of beans. For if the football club is Eddie
Thompson's enduring passion, it is groceries which are his business.
"Somebody goes into a shop looking to buy a tin of beans, but
they cannot find the brand they want," he offers, by way of explanation.
"Now they might go to another shop to try and find them, or they
might just buy a different sort. After all, beans are beans. It
wouldn't make that much difference." "But it would matter to me.
To me there is no other brand than Dundee United. If they are
not playing, I am not watching football. I've had other clubs
approach me about investing in them, but I have absolutely no
interest.
There is only
one team for me. It is an emotive thing." It is clearly an emotive
subject for a lot of people, hence the heated and sometimes hostile
debate which has surrounded the ownership and direction of the
Tannadice club in recent years. And it is an issue which, following
McLean's resignation as chairman and chief executive last weekend,
has now been brought to the fore. The erstwhile chairman, and
legen-dary manager, has stated a desire to sever his 29-year association
with United after he was charged with assault following an alleged
incident after last Saturday's match against Hearts. That means
the sale of his family's 41% stake in the club; a holding which
Thompson, the founder and chairman of the Morning, Noon & Night
retail chain, has long coveted. Two years ago, the successful
retailer bid £200 a share for McLean's stake. A year later he
offered £1m to buy some of the club's 12,000 unissued shares.
Both offers were rejected. Last week his lawyer sent McLean a
letter asking two simple questions. "The first was whether Mr
McLean was prepared to sell his shares to Eddie Thompson. The
second was name your price," the entrepreneur revealed. "The reason
I asked him to name his price is that every time I have gone in
before, the response has come back that what I'm offering is not
enough; that I'm under-valuing the club." There has been, as yet,
no reply to the letter.
The signals
from the club may have been mixed, but they have unquestionably
been cold. "Jim McLean has said that if the best thing for Dundee
United is for him to sell to Eddie Thompson, then he would do
it," said an official spokesman. It was possible to sense the
unsaid "but" hanging in the air. Doug Smith, named interim chairman
last week, was more blunt, sug-gesting there was no way he and
the other three remaining directors could work with Thompson because
of his support for the United for Change pressure group. "Eddie
Thompson has wanted a place on the board for quite a while and
has been turned down by the directors. That position has not changed
at this moment," said Smith. The opinions of the directors are
crucial, since the constitution of the private limited company
gives them the right of veto over the sale of any of the club's
13,000 issued shares - from one share to the 5,334 that Thompson
would like to acquire. "In theory that could mean Mr McLean could
agree to sell me his shares today and tomorrow the board could
say no," he said. In truth, the tenor of comments emanating from
Tannadice suggests hell could freeze over before they would open
the door to a United fan who believes he has the business acumen
to turn around the fortunes of an ailing club. And, according
to sources within the club, Thompson is by no means the only interested
party. "There is strong interest in Jim McLean's shares from a
number of eminently suitable people," suggested an insider. United's
concerns about Thompson are two-fold. They are unconvinced that
he has the financial means to take the club forward. And they
are angry that he used the media to publicise his belief that
he could shake United out of a decline which has seen them shed
managers and supporters in an unhealthy manner over recent years.
Underlying their opposition has been the view that Thompson has
jumped on the back of a fans' pressure group to buy control of
the club on the cheap.
It is an
accusation which provokes a stinging retort. "What did the existing
members of the board pay for their shares? Absolute peanuts is
the answer. If I bought out Mr McLean, I estimate he would roughly
be getting 10 times what he paid for his shares. I think that
is a fair return." "If I put in the kind of money I believe Mr
McLean wants for his shares, that would be more than all the shareholders
on the board have ever put into the club. How can they poss-ibly
suggest I am looking for a cheap seat when I am talking about
a seven-figure sum just to get on to the board." Thompson says
he has £1m ready should McLean approve a sale. That is money drawn
from his own private resources, and not linked to his retail business,
where turnover has risen to £36m over the last year, during which
time the convenience chain was one of Scotland's top five fastest-growing
new companies. "But it is not money that United really need now.
It is new people and new ideas," he said. "The club has spent
a lot of money over the last few years and where has it got us?
It is not simply about money, it is how you use it. United needs
somebody with foresight and passion." "It needs somebody to grab
it and shake it from top to bottom. Who falls out, and who stays
in, can be resolved. All that matters is getting a new regime,
a new structure and a new culture." He believes if he could do
that "shaking", other investors would follow. "There are other
individuals out there, but they need to see Eddie Thompson in
the door and the club being opened up. Unless the structure and
constitution changes, these people won't be interested," he added.
He remains
at heart a fan of 35 years' standing. Home and away, he is one
of a dwindling band of United fans. Friends and family have told
him he should walk away as his life is busy enough without adding
to the burden. But Thompson can't let it go. "I know I wouldn't
get any financial return from United, but I am a fan, and it's
frustrating to see what has happened. I feel I could do something
to help, and there are other people out there who could assist
me. We'd do a better job than what is happening right now." And
then the fan in him takes over: "In a situation like this, we
don't need foreign players we've never seen before. We need good
professionals who know the British game. We're not bothered about
pretty football at this stage, we just want results." He will
be at a testimonial dinner for Maurice Malpas tonight, an event
his company has sponsored. Jim McLean will not, a decision taken
before last weekend. Thompson says he feels sympathy for McLean,
knowing the last few days must have hurt. "I rate him with Jock
Stein and Alex Ferguson. As a manager, he could not be topped.
It was when he became chairman things started to go wrong." Thompson
believes he is the man to start righting those wrongs. But it
is not a view shared by those who control the destiny of the club.
©Sunday
Herald
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