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Dublin: 8 °C Wednesday 1 April, 2020

Shamrock Rovers members vote to accept Dermot Desmond investment

Desmond’s investment, reported to be worth €2 million, was overwhelmingly approved at Saturday’s AGM in Tallaght Stadium.

Rovers: Desmond set to take 25% stake.
Rovers: Desmond set to take 25% stake.
Image: Tommy Dickson/INPHO

BILLIONAIRE BUSINESSMAN DERMOT Desmond is set to take a 25% stake in Shamrock Rovers after the club’s members approved his investment proposal today.

Desmond’s investment, reported to be worth €2 million to the League of Ireland club, was overwhelmingly approved at Saturday’s AGM.

“Shamrock Rovers Members today voted in favour of accepting an investment proposal by Dermot Desmond to become a shareholder in Shamrock Rovers F.C,” a short statement read.

“Club members gathered at the 2019 AGM in Tallaght Stadium today where the proposal recommended by the Members’ Board was put to the membership.

“There was an overwhelming vote in support of the proposal which, subject to final sign off by all parties will see Dermot Desmond become a 25% shareholder in Shamrock Rovers FC Ltd.”

Desmond, 69, is also the largest individual shareholder of Scottish giants Celtic FC.

Details of his proposed investment first emerged in October, with Rovers moving to reassure fans that Desmond “sees any involvement with Shamrock Rovers as being more akin to a trustee than a shareholder”.

In particular, Desmond is said to be interested in furthering the development of the club’s Academy structure.

A 50% stake of Rovers’ ownership will be retained by the members with Ray Wilson, the club’s other major investor, taking a 25% stake.

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Niall Kelly

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