Dundee United chairman Stephen Thompson declared his club are in control of their own destiny after a group of fans paid off their bank debt of more than £3million.

United will have to pay the private individuals back, but the deal has seen the Bank of Scotland release a security over the club's assets and it could cut their interest fees.

United have almost halved their debt in recent years, but have still been paying annual bank interest fees of more than £200,000.

The most important change to fans is that Thompson declared they would be in a much stronger position in the transfer market.

The debt was cut largely because of the sale of David Goodwillie and Johnny Russell, and Thompson will not be forced to accept low fees for the likes of Ryan Gauld and John Souttar.

Thompson said: "It is a big deal for the club. It puts us in a strong position when it comes to keeping players in transfer windows. We won't need to sell at any price and I just think we are in control of our own destiny now.

"It is only with the help of these private investors that we've been able to do this. Obviously my family over the years have kind of stabilised the club and put a lot of money in.

"To be able to do this, their support has been fantastic. It just makes the finances completely different as a club."

"Yes we have to repay the investors and it is all agreed and all confidential."