CORK CITY’S BOARD HAVE confirmed they have accepted a bid from businessman Dermot Usher to buy their club.
In a statement released this morning, the club outlined the process that must now be completed before Usher assumes control.
Cork’s statement read: “The acceptance of the Board is subject to approval of the shareholders of the Friends of the Rebel Army Society (FORAS), the supporter’s group who currently control the club.
“The vote will be deemed to pass under a simple majority in favour. The vote will take place at a Special General Meeting on Sunday, December 4th. The board will exclusively be engaging with Dermot Usher and will not be considering any adiditonal approaches from other third parties.
“The Board will be unanimously supporting a vote in favour of a sale, in what we believe could be an exciting next chapter in the history of Cork City FC.”
Usher made his name and money with bathroom brand, SONAS Bathrooms, over a 30-year period, growing the business to in excess of €40 million in revenues per annum.
He exited his company in 2021 but remains on the Board of Directors as Non-Executive Director.
Usher’s plan includes investing in the women’s side of the club; hiring a Marketing Executive to boost the club’s profile; appointing a Director of football to oversee the Academy and recruitment; working with the Munster Football Association to develop Turner’s Cross; ending all gambling sponsorship associated with the club.
Cork Chairman Declan Carey said: “We’ve met with Dermot and heard what he has to say. He is passionate about the League of Ireland but critically has the business knowledge, experience, and personal wealth to back up his ambitions for our football club.”
Usher added: “I have been passionate about sport all my life and I’m an avid fan of the League of Ireland. Since I sold my business in 2021, I have been looking to contribute more to football in this country and having spoken to the Board of Management and others around the league, Cork City FC is such an exciting opportunity for everyone involved.
“FORAS under fan ownership have done the club proud over the past 12-years. I just hope they will now give me the chance to bring the club to the next level. This club deserves to be competing for trophies and that is exactly what I want to achieve. I look forward to meeting everyone and discussing my plans over the coming weeks.”
