Canadian owner pledges 'half of savings' to Dumbarton

Dumbarton's stadium lies in the shadow of Dumbarton Castle

Canadian electronics businessman Mario Lapointe says he is putting "half of his retirement" fund into Dumbarton after completing his purchase of the Scottish League 2 club.

Dumbarton were relegated from Scottish League 1 last season after finishing bottom of the table following a 15-point deduction for going into administration.

Earlier this month, administrator Quantuma said the company would be dissolved and replaced with Dumbarton Football Club 1872 Ltd, a new company wholly owned by Lapointe.

The Canadian says the club was "burning" £150,000 to £200,000 per year and his plan is to cover the shortfall initially.

"I'm going to borrow [the club] for a decade or two and hopefully within two or three years I'll put it back on its feet," Lapointe told BBC Scotland.

"Half of my savings are going to go into this. It was burning 150 to 200,000 [pounds] every year and what I need to do is put it back on its financial feet because it's going to stand by itself.

"So when the day comes to pass it on it will be much stronger than just now."

An agreement had been reached with the SPFL to allow Lapointe to take control and play in League 2 next season.

Lapointe, co-owner and technical director of electronics contract manufacturer SMT-ASSY in Pointe-Claire, Quebec, had stepped in to save the club after ill health forced the collapse of a deal with Oxford-based businessman Gareth Phillips.

The new owner will meet with fans in Dumbarton for the first time on Friday and supporters and sponsors will have three opportunities to attend 'Meet Mario' events on Wednesday, 25 June.

Dumbarton went into administration in November, when Quantuma said insolvency was the result of non-receipt of "significant" funds owed from the sale of land in 2021.