The take over deal by the Saudi businessman has now officially fallen through...

"Dumbarton were left wondering what might of been last night after a Dubai-based businessman pulled the plug on a £1.2 Million bid to buy the Second Division club.

Sons owner Neil Rankine said"He would have been like Brooks Mileson at Gretna. He could have taken this club to the SPL"

Dumbarton fan Philip Mills walked away from a deal which was expected to be completed this week. He emailed his dicision and, citing problems over shares, admitted he was dissapointed.

He added 'We could end up paying for the club and having no control over its assets. Therefore, we are unable to progress our bid"

'We could end up paying for the club and having no control over its assets'

To be fair, that's a wee bit of a stumbling block!

1.2m for Dumbarton though? that's a bit pricey for a second division scottish club.

Maybe it's a two for one deal?

It would appear the purchaser wouldnt have been able to sell off land, so walked away.

Its certainly not worth £1.2m as a football club alone

Nail on the head there Stewart.

Pretty well known amongst Dumbarton fans anyway is that the ground they occupy now is worth far in excess of the money they paid for it. However only if that is sold to developers for houses etc. So it would appear that this "fan" may have been just a little bit interested in lining his own pockets as well as supporting his club, naturally.

Anyone know if Twigg/Rankine still own the 30 odd thousand shares or whether someone has bought them?

Companies house don't appear to have received the 336 return from EFFC yet which includes the list of shareholders, but that is now 2 months out of date.

As Willie Gray was made a director in February, his shareholding may not show to the public untill Feb/Mar 07, but shareholders could request sight of the up to date register at any time.

If I had £1.2m I would buy a 3rd division club East Fife they are the only club I would put money into and the only club worth it

Zak - are you the March £1million premium bond winner from Fife????

Latest from BBC..........

Sons' concerns as takeover fails

Dumbarton's chief executive is considering his position
Dumbarton chief executive Ian MacFarlane fears for the survival of the Second Division club after the collapse of a takeover bid.
"I am now seriously concerned for the future of this great club," he said.

"They were the only one in a sea of interested parties who did not seek ground valuations, or request surveyor investigations."

MacFarlane had thought Dubai-based MBI had the resources to "take the club forward to greater achievements".

Negotiations had been running some time for the purchase of Neil Rankine's majority shareholding by Philp Mills, a lead partner in Mills Bowley Investment Ltd.

MacFarlane had thought that Mills and his family, as well-known Dumbarton people, would have been safe custodians of the company.

But the chief executive told his club website: "As most supporters are now aware, the proposed takeover for the controlling interest of the club has collapsed.

"Philp Mills of MBI has documented his reason, and I quote word for word - 'Our legal advisors, who are one of the top firms in the United Arab Emirates, have made it clear that we could end up paying for the club and having absolutely no control over its assets'.

"The board of DFC, on advice from our legal advisors, completely refute this opinion.

"I am extremely saddened that they find it necessary to withdraw at this time. "I now intend to consider my own position over the next few days."

There have been reports that a possible merger with junior club Clydebank could be revived.

If he is considering his position, what implications could that have on EFFC?

No direct implications for Fife I would think. But could be serious for football and more importantly the smaller clubs. It has been obvious for some time that clubs are struggling for survival. Part of the solution to this crisis has been the development of Supporters trusts and their investment in both in money and support. Now the more enlightened businesses have promoted employee shareholding for some time and it seems obvious that this is a way to go in football. Why did we not think of it before?

The benefits of supporters having a share in the club are there for all to see. We need to convince not only our club but the SFA (will these allude to Scottish Football Association ... or maybe something else). The SFA should be actively promoting supporter's involvement to ensure the survival of the clubs we have left and not allow more to go to the wall because of profiteers. For example in our case a rule that states that no member who discourages or denies selling shares to supporter's organisations will be allowed to be a representative at The SFA would have made Brown think again.

The SFA is standing back and allowing Scottish football to decline. Because of its make-up it is also I am sure supporting the likes of Brown. This organisation if it does not give Supporters and their organisations their wholehearted support should be our next target!