LIMERICK FOOTBALL CLUB have revealed that it is in advanced negotiations with a group of investors.
Owner Pat O’Sullivan has been looking to sell the SSE Airtricity League club for some time, having stated back in January 2018 that he could no longer bankroll the operation.
An investment group led by Donal Magee announced last week that they had pulled the plug on plans to buy the Blues, as “the terms and valuation put forward to us are unworkable and our belief is that the valuation of the club is unreasonable”.
However, Limerick have released a statement this afternoon confirming that they are close to securing a deal.
The latest group are being represented by former Sligo Rovers, Bohemians, Dundalk and Galway United manager Sean Connor, who won the First Division with the Bit O’Red in 2005.
Belfast native Connor went on to manage in Zimbabwe and South Africa after the League of Ireland.
“The club can confirm, that we are at an advanced stage of negotiations with an investment group who we have been talking with since last July,” the statement reads.
“The group have a firm business plan and strategy in place. We share their vision, values and core objectives for the club. We had hoped to make a formal announcement this week, however some additional time is required for legal documents to be finalised.
“This is due to one of the main parties involved being away on other business matters. Sean Connor has been representing the investors at the club this week and has been preparing the ground from a procedural perspective, to allow for this strategy to be implemented.
Sean has significant experience in League of Ireland and we look forward both to working with him and to the completion of this deal in the coming days.
“It will bring certainty and structure to the Club’s affairs and will alleviate the current stresses around the club. We believe that the future of the club is bright. The new investor’s believe in Limerick FC and in the city of Limerick.”
Limerick are currently sixth in the First Division, and face Bray Wanderers at home tonight.
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