Canadian Lapointe close to Dumbarton takeover

Dumbarton have been relegated to Scotland's fourth tier

Canadian electronics entrepreneur Mario Lapointe is close to a takeover of Dumbarton Football Club.

A separate proposal to take Dumbarton out of administration and pay their creditors in full collapsed in April.

But the club's joint administrators have revealed that they have "now agreed heads of terms on a deal" to sell to Lapointe.

"Mario Lapointe is a Canadian entrepreneur and business owner with a passion for sport and, in particular, football," a club website statement said.

Lapointe is co-owner and technical director of electronics contract manufacturer SMT-ASSY in Pointe-Claire, Quebec, with the company becoming main sponsor of St-Lazare Hudson soccer club in 2013.

"The administrators will now work with Mario and his advisors to deliver the transaction by the second week in June, allowing everything to be in place for the new season, planning for which is well under way," Dumbarton's statement added.

Dumbarton have been relegated to Scottish League 2, having finished 16 points adrift of Annan Athletic at the foot of the third tier following a 15-point deduction for going into administration.

On being appointed administrator, Quantuma said insolvency was the result of non-receipt of "significant" funds owed from the sale of land in 2021.

Quantuma said Oxford-based businessman Gareth Phillips withdrew his offer last month because of ill health.