LAST UPDATE | 10 Sep 2024
DUNDALK FC OWNER Brian Ainscough has confirmed that the League of Ireland club requires urgent investment to ensure it doesn’t go out of business before the end of this Premier Division season.
The Boston-based businessman only took control at Oriel Park from local sports technology company STATSports and long-term owner Andy Connolly last November.
He confirmed that a deal for fresh cash injection fell through in August and that wages were not paid to staff last week.
With seven games to go before the end of the current campaign, Dundalk are bottom of the table and now face the possibility of going to the wall unless Ainscough can strike a deal elsewhere.
Dundalk FC owner Brian Ainscough has released the following statement about the club's financial situation.https://t.co/4HI1FUqhCi pic.twitter.com/sYDY3ZlL0q
— Dundalk FC (@DundalkFC) September 9, 2024
“There are a lot of reports out there that the club is experiencing financial difficulties. Unfortunately, those reports are true,” Ainscough said in a statement.
“I was hoping to secure investment in August but, for various reasons, that did not come through. I am working hard to keep it going but my immediate concern now is that the club can carry on for the remainder of the season.
“I am actively seeking investment and I am exploring all possibilities about the ownership of the club to ensure that happens.”
Manager Jon Daly confirmed after last Thursday’s defeat to St Patrick’s Athletic that wages had not been paid and Ainscough insisted that situation would be rectified.
“I will continue to speak to any interested parties and I remain fully positive that we can secure the injection of cash that we need to keep us going. Regarding wages, I can confirm that there was a delay in paying the wages last week.
“I am aware of the distress that this caused our players and staff and I would like to assure them that this was a temporary issue which will be resolved in the coming days.
“I want to thank our players, staff, supporters and the wider community for their support and patience at this time and want to let them know that we are working extremely hard to turn this situation around.”
The FAI has said it in contact with the club and will assist “where possible”.
“The FAI and League of Ireland are aware of the ongoing financial situation at Dundalk FC and are in continuous communication with the club’s owners and all stakeholders involved to assist where possible,” the FAI said in a statement.
They added: “We will issue any further updates on the matter if there are any further developments.”
Dundalk are due to face Waterford at the RSC this Friday.
Shocking how this was allowed to get to this point!
@Mike Bello: I would have thought that the whole point of a new owner who is also a businessman is that THEY would be in a position to invest in the club.
@Stanley Marsh: . Exactly.
What happened to the money this club earned from Europe not too many years ago?
A few people came out of that well paid that’s for sure, the staff there now pay the price.
Is it not about time The FAI take a role in
ensuring that investor submit a proper business plan before a club licence is issued.
The plan should include realistic budgets for best, average, and worst case scenarios over the course of the season. Tbe board .must be required to submit its financial projections am what access it has to altetnative finds sbould
Hoped for targets not be met. The FAi also should consider establishing a “Distress Fund” with contributions by clubs, players, and The FAI to be applied where players have
not been paid ttheir agreed salaries. The
Club concerned should be relegated and compelled to meet all outstanding debts to staff before signing new players/staff
Brian Joyce, lifelong Shels Fan
I think Brian bit off more than he could chew. It all looked good on paper, but the ground and buildings needed a lot of work.
Methinks Brian should have stayed with Kerry FC.
@Ollie Fitzpatrick: I think there’s only one winner here, Kerry.
Dennis Cremin. Sicko, Sado. Get a life.
Who owns what in Dundalk, ground etc?
Hahahahaha. Tick tock