LEE POWER HAS confirmed that he will continue to fund Waterford after considering his future when the club were denied a place in the Europa League qualifiers last season.
The Blues have been further boosted by the news that Alan Reynolds will remain as manager for the 2020 Premier Division campaign.
In a statement on the club website, Power explained how he took the club’s case to the Court of Arbitration for Sport after they were refused entry to European football on a technicality, with their place granted instead to St Patrick’s Athletic.
After that appeal failed, the future of Reynolds was also in doubt. Waterford are set to work to a reduced financial budget, however, with a move to part-time football expected.
“After certain events which took place earlier on in the season, I made the decision (at a considerable cost) to take UEFA to the Court of Arbitration, Lausanne, Switzerland.
“Unfortunately the decision was upheld on a technicality which was very disappointing. With the stance the FAI had taken I had to reconsider my future investment in Irish football,” Power said.
“However, after lengthy meetings with everyone at the club I have decided to finance the club for the next season. As one person cannot do this alone for the long-term future, I personally ask everyone from the supporters, supporters club and businesses to back the club.
“I understand the team did not win as many games as previous seasons and it was disappointing to see the huge drop in attendance, but we are now looking forward to the new season,” Power continued.
“Therefore, I am pleased to announce Alan Reynolds has signed a new deal with the club and we look forward to continuing our football relationship. Alan has been busy getting ready for the new season and we will be announcing new signings over the next few days.
“Finally, I would like to thank everyone at the club, academy, blues supporters club, sponsors and the loyal fans for the support over the last season.
“We need every one of you in whatever way you can to support the ongoing future of Waterford FC.”
