Dons Shareholders Back Milne

Last updated : 28 June 2006 By Stand Free Ed

Aberdeen FC shareholders today voted in favour of a financial restructuring of the club, including separating the ownership of Pittodrie from the football operations.

All three resolutions were passed by a show of hands, with only one shareholder in the audience voting against.

Dons chairman Stewart Milne told the Evening Express: "This has been an important and positive day for the club.

"Shareholders have given us a bit of breathing space to work in over the next five years."

The club is proposing to re-structure the business by setting up a wholly owned subsidiary company which will own Pittodrie Stadium, thereby separating the finances of the day-to-day football operations from the property finances.

The move is now reliant on AFC selling Pittodrie and moving to the proposed new community stadium.

Aberdeen's Head of Operations Duncan Fraser previously said: "The steps we are taking will arrest the accumulation of debt and ensure the long-term survival of the club.

"I am confident the fans also see the need for and the benefits of moving to a new stadium."