DUNFERMLINE ATHLETIC are under new majority ownership after it was announced this morning that a German investment group will increase their stake in the club.

DAFC Fussball GmBH, who last September purchased 30 per cent of shares, have committed to acquiring a further 45.1 per cent to take control at East End.

Hamburg-based investors Thomas Meggle, Damir Keretic, Nick Teller and Dr. Albrecht Gundermann had an option to take up the additional shares by May 31 2022, but, at the existing board's request, have brought forward the acquisition date.

Athletic say that it will allow them to "implement a number of strategic plans", which include plans for a new training ground and youth academy, investment in coaching and medical staff, and what they described as "other exciting planned initiatives".

DAFC Fussball GmBH's Mr Teller, who is also a board director alongside Mr Meggle and Mr Keretic, stated: "By agreeing early to exercise the option we are recognising the need for our club to have financial certainty in these uncertain times in order to make essential investments into the future of our club.

"It is important to note that the increase in the stake will take place by way of an increase in share capital meaning that close to all of the proceeds will go to the Club and no one other than DAFC itself will be receiving any of the funds."

Mr Meggle commented: "The investment into a dedicated training facility is a cornerstone of our plans for our club’s future.

"In order to be able to attract exciting talent to DAFC, our own training facility with a clear DAFC identity, is an essential requirement."

Mr Keretic said: "We are very excited about the future of DAFC and the part we can play in our community football club.

"We have clear plans of how to develop our club further under our custodianship and to widen the appeal DAFC has in the region and beyond."

DAFC Chairman, Ross McArthur, who said that the Civil Service Club in Rosyth was one of the options being looked at for a new training ground, hailed the news as "the most exciting day" since he became involved with the club as part of the Pars United consortium that rescued the club from administration in 2013.

He said: "I said previously that the involvement of DAFC Fussball GmbH as a shareholder, would be transformative for our club, and we are now on the cusp of making key strategic investments in the infrastructure of our club, which would simply not be possible without their support.

"These will not only help our future growth, but also increase our chances of success, without diluting our existing culture and community ethos. In addition, there are other planned initiatives that we hope can differentiate our club from our peers.

"It is important for me to state that it was at our request, DAFC Fussball GmbH took up their second option earlier than the original intended date, which once again is testament to their commitment to our club as well as the spirit and cooperation of the working relationship we have enjoyed to date.

"We are still in a time of some uncertainty, so providing certainty like this is hugely beneficial, so our new investors deserve enormous credit which should be applauded by our supporters. I would encourage all of you to show your support to our new investors by acquiring season tickets or visiting our matches whenever possible in these new and exciting times for our club."