Former chairman Chris Dunphy withdraws from investing in Dale

Former Rochdale AFC chairman Chris Dunphy has withdrawn his offer to return to the club saying he is “unable to personally invest the amount of money required”.

Mr Dunphy offered to potentially invest in the football club after its relegation last month.

Speaking after Dale’s defeat at Stockport County, Mr Dunphy said he had made the offer for a new board of directors, led by himself, who would purchase new shares to “inject capital into the club.”

The club published its shareholding on 26 April, which shows that as of 26 April, 974,730 shares have been issued to nearly 600 different shareholders. Of these, 64% are owned by the Dale Trust, chairman, life vice president, president, board directors and Rochdale AFC Football in the Community Trust.

The remaining 36% is owned and controlled by individual Dale fans.

Following this information being revealed, Mr Dunphy says he’s had “no option but to withdraw.”

In November 2022, shareholders approved raising the available number of shares of Rochdale AFC to 1,350,000.

In a statement published on social media, Mr Dunphy said: “Now that the shareholding has been published, it is perfectly understandable that the board would be reluctant to walk away without some sort of recompense.

“Unfortunately, I have to tell you, that I am unable to personally invest the amount of money required, and as I cannot ask my associates to do what I am not prepared to do, I have no option but to withdraw.

“For a few years, I have watched in sadness as our beloved team sank out of league one, then to the bottom of league two. I promised myself (and my wife) that I was not going to get involved, but in that final week I felt compelled to give it ‘just one last shot’.

“Like many of you, Rochdale AFC has been in my life longer than anyone or anything and to watch it slip out of the league was hard. I am sure Simon [Gauge, current chairman] felt the same, but as a former chairman, I know better than anyone the pressure he would have been under.

“I put forward a proposal in which myself, and other experienced associates offered our services to the club. The offer was made with the best interests of the club at heart, but I was unaware of just how many shares the BoD actually owned, and how much money they had invested. I would like to take this opportunity to commend them for preventing the hostile takeover bid.

“I understand that there are other ‘interested parties’ and sincerely hope that they will be able to offer a clear way forward, secure a successful future for the club and ensure the continuation of professional sport in Rochdale.

“I would like to thank all of you for the kind messages I have received and would reassure you that I remain committed to the club and would be willing to meet and talk with those who would help to protect the club we all love.”

Mr Dunphy held the position of chairman from 2006 until 2018. He subsequently sold his shares to Americans Dan Altman and Emre Marcelli, who announced that they would join the board of directors in 2021 but stepped back just days later as a result of what they referred to as “serious internal issues” which “have not been resolved.”

Following this statement from Altman and Marcelli in 2021, an EGM was requested by the Dale Supporters Trust and other shareholders, at which directors David Bottomley and Graham Rawlinson were voted off the board by shareholders. A number of new directors subsequently joined the board.

Rochdale AFC has confirmed there are “several other interested parties” and investment discussions are ongoing.