9:02:12 PMDundee Utd boss wants bank help
|Dundee Utd boss wants bank help |
Dundee United manager Craig Levein has become the second Scottish Premier League manager in a week to admit that his club need help from the bank.
Last week, Rangers manager Walter Smith revealed Lloyds Banking Group was running the Ibrox club.
United have debts of £6.4m and lost about £700,000 from their budget with the collapse of broadcaster Setanta.
"We need help from the bank. We've managed to keep a tight lid on our spending," Levein told BBC Scotland.
The Dundee United manager said the club had been efficiently run in recent years but conceded the harsh financial realities were making life difficult.
"We've managed to pay off some debts, the wage bill hasn't gone up at all in the last three seasons even though we were supposedly getting the better income through the TV deal," he said.
"We've managed to keep a really tight lid on what we've been spending and, at the same time, we get caught with this real body blow which has made it extremely difficult."
United have written to Secretary of State Jim Murphy welcoming his intervention with Lloyds Bank in the wake of Rangers financial troubles and stating that they would welcome his support on behalf of all Scottish clubs.
Rangers are actively seeking a new owner and have been placed on the official Takeover Panel list.
The club are in debt to the tune of £25m and face pressure from Lloyds Banking Group to bring their costs under control.
Walter Smith's entire first-team squad is available for sale and the manager, 61, whose contract expires in January, is unsure about his own future.
United, who are fourth in the SPL, host champions Rangers on Sunday.
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