Last month, former Dundee United chairman Stephen Thompson disclosed on a BBC Radio show, Off The Ball, that he had filed for bankruptcy.
The full extent of his financial troubles has now been revealed.
Thompson, who famously clashed with Rangers fans over a decade ago during their 2012 financial crisis, played a prominent role in relegating the club to the bottom tier of Scottish football after their administration.
On December 18, the 59-year-old was granted sequestration, Scotland’s term for bankruptcy, as reported by The Courier. Documents obtained by the publication indicate Thompson’s debts amount to £881,833, largely due to the collapse of his business venture, Eddy’s Food Station.
Reflecting on his financial struggles on Off The Ball, Thompson admitted, “I’ve kind of hit rock bottom, to be honest. I signed a petition for bankruptcy yesterday, which isn’t a great place to be. The stores were profitable, but we launched at the wrong time.
“I’d love to return to football, but it’s not easy. I spent 17 years in the game; it’s in my blood. I grew up watching Dundee United, and while things didn’t end well, we had a lot of success. I know how the system works, from league board experience to negotiating transfer fees and sell-on clauses. I believe I still have something to offer.
“Living in a small city like Dundee after running the club came with its challenges. It affected me for a while, but I’ve moved past that. It was a roller coaster—winning the Scottish Cup and then facing relegation.
“I loved the club, even though things didn’t end well. Following in my father’s footsteps was tough, especially as he left £7.2 million in debt. We managed to reduce that to £1 million, but it wasn’t easy.”
