GALWAY UNITED’S OWNERS have tonight voted in favour of Saudi Arabian investment, it has been confirmed.
The League of Ireland club this evening released a statement confirming the news.
It read: “Galway United FC is 100% owned by the Galway United Friends Co-operative and at the Special General Meeting (SGM) this evening (Monday, June 18th, 2018) members voted in support of the motion to accept the offer by a third party to take a majority shareholding in the club.
“As a result of this decision, the board will now continue discussions with the investors.”
According to RTÉ, 68 members voted in favour of the investment, with 10 against and one abstaining, with the initial figure accepted reportedly €500,000, meaning Saudi Arabian businessmen Abdulrahman Al Nemer and Mohammed Al Ruwaite are set to become majority shareholders.
The move is expected to see Galway receive a significant financial boost, with the club currently sixth in the First Division, 12 points behind leaders UCD.
Speaking last week, League of Ireland chief Fran Gavin confirmed the Football Association of Ireland had been in discussions with the club over the matter.
“We read about it, the club has briefed us on it and there’s a meeting there on Monday with the supporters, the members, to see if they’re allowing third-party investment. We’re aware of what you are aware of.”
The news comes after the club confirmed the departure of manager Shane Keegan earlier today.
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