Stephen Thompson remains one of the voodoo dolls of Scottish football. All over the place they are sticking pins in the Dundee United chairman – and that’s not just among his own Tayside faithful. Thompson’s lippy style and sometimes brusque approach is not to everyone’s liking, and the invective around him has only increased since United went into a tailspin 10 months ago.

Some Dundee United fans have even accused him of not being a true ‘Arab’, an allegation that makes Thompson indignant. “It has been said, ‘ach, he’s not a fan.’ Jeez, I’ve been watching Dundee United for 45 years,” he says. “I went with my dad home and away, domestically and all over Europe. So don’t anyone tell me I’m not a Dundee United fan. But I’ve got a business to run, in a bloody tough environment which does not readily generate much money.”

On the surface the Thompson stewardship of United looks half-decent. Back in 2007 the club debt stood at £7.4million. Since assuming the reins upon the death of his father, Eddie, in 2008, he has aggressively steered the club’s debt down to its current £1.2m.

“And the debt we have is to one benefactor - we have no bank debt,” he argues. “Nor did we take the easy option to get rid of debt – by going into administration – but have paid every creditor every penny over the years.

“I’ve been told we have ‘a lack of ambition’. I mean, come on. We have the third biggest playing budget in the Scottish Premiership. Our budget, actually, is probably bigger than we can afford. We make operating losses as a club, but that is because we want to push on as well as we can.

“This is the first time in nine years we’ve been down at the bottom of the league. If you look at the nine years before 2006, I think Dundee United finished in the top six only twice. So give us a break - we have at least found some success and consistency, in a horrendously difficult environment. There is no money in Scottish football. It is bloody hard to make it work.”

On the question of ambition many United fans have raged at the way the club sold its five best players – Ryan Gauld, Andy Robertson, Nadir Ciftci, Gary Mackay-Steven and Stuart Armstrong – in the past 16 months. The flogging of such assets played a key part in the decline of the team, as well as in Jackie McNamara’s reputation as manager.

Thompson, however, offers a stout defence of the policy.

“Dundee United has always been a selling club. Back in the days of Jim McLean and before, this was a selling club. Okay, so more talent has gone out of the door in recent times, but that was because we were offered really good money, plus the fact, all five of those players were going to leave anyway.

“First, Ryan Gauld. He was offered a once in a lifetime chance at Sporting Lisbon, so we were not going to stand in his way. He was still just 18 and we got fantastic money [£3m] for him.

“Second, Andy Robertson. Okay, he had only been with us for a year, but again, the money we got for him [£2m] was fantastic. He was offered the chance to go and play in the English Premiership. Do we stand in his way? Do we turn down great money to keep him?

“Third, Nadir Ciftci? He was reaching the end of his contract and he would soon be worth nothing to us. We got good money for him. Has the move worked out for him? I don’t know. But I think he wanted to leave anyway.

“Gary Mackay-Steven had 17 weeks left on his contract and was intent on leaving, and we were offered bloody good money for him. I think we made the right decision on that deal as well.

“Maybe the arguable one was Stuart Armstrong. Maybe there was a case last January for keeping him until the summer, instead of selling him. Some United fans said to me, ‘you’ve effectively sold the cup final with these two leaving’ but I was told we had the players to cover it. That turned out not to be the case.”

Thompson insists that he tries to back every manager that works for him, with obvious consequences to follow.

“If you sell, what you do is, you find the talent to replace them - that is what this club has done for decades. I’m not having a go at Jackie McNamara but I don’t think the squad we have – the one Mixu has inherited – is a strong one. Look, what you do is, you support a manager in his buying of new players, and if it doesn’t work out, then the manager loses his job. It’s simple. That’s how football is.”

January is looming. For some United fans it cannot come soon enough. Mixu Paatelainen will have the unenviable task of stripping away his squad and adding fresh talent – all supposedly for the better.

“We’ll try to get maybe two or three or four in between now and then,” Thompson adds. “We’ve already signed this Japanese goalie [Eiji Kawashima] but, again, it is difficult. You have to ask, why are players out of contract? You can’t do anything knee-jerk. There will be good players out there – it’s just a case of finding them. So that is Mixu’s job.

“We are £1m down in income on this time last season - due to league placing and cup runs - yet we have the same cost base. But it is not half as bad as it was five years ago.”

Can the barrel-chested Finn improve Dundee United? The Tannadice chairman believes so.

“Of course Mixu has got a tough gig - he has inherited a squad that needs changing and improving. But I think Mixu is already making a difference. His match-prep is very, very good and so are his training methods. It’s not Mixu’s fault we are where we are. We’ve got a lot of hard work ahead of us at this club.”