Former Dundee United director John Bennett has scrapped plans to launch a takeover bid for city rivals Dundee.
Speculation in the city in recent months suggested that Bennett, a retired chartered surveyor, would assume control at Dens Park.
But after holding talks with chairman Bob Brannan, Bennett insisted he had no interest in buying Dundee.
"I've no intention of buying the club, I'm not taking it over. I am taking no shares, end of story," he said.
However, Bennett may yet become involved at Dens Park in an as yet undefined role.
Dundee manager Alex Rae admitted last weekend that he was in the dark over any potential takeover but said the speculation was beginning to take its toll on his team.
Despite ending his interest in the Dens Park outfit, Bennett said he still wanted to be involved in football in some capacity.
I have retired and have a lot to give to football, which is my passion
John Bennett
"I'm looking for something to do with my time and that's 100% what it is," he said.
"I have retired and have a lot to give to football, which is my passion."
Rae had just 12 fit first-team players for Saturday's goalless draw with Partick Thistle.
But Dundee's board told Rae, who had lined up two players who played in the Scottish Premier League last season, that the club cannot afford any more loan signings.
In April, Dundee said they would continue to operate full-time, despite missing out on promotion from Division One.
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