Oriel Park, Dundalk FC's home ground. Ciaran Culligan / INPHO
Ciaran Culligan / INPHO / INPHO
THERE’S LITTLE DOUBT about what the biggest story of the off-season was — the purchase of Dundalk FC by Peak6, bringing to an end the spectacular years under Andy Connolly and Paul Brown.
Everyone involved in the deal is convinced it’s the best thing for the club. It’s all positive. So why do I feel so nervous? If you look at the clubs with which Peak6 are involved, either as a group or individual owners — particularly Swansea City and Bournemouth — you’ll see stable clubs built on a sound ethos, possibly punching above their weight, but well-run.
We should be no warier of Peak6 than Waterford fans were last season during their takeover, but somehow the term ‘investment fund’ brings an air of suspicion that an individual may not. The nerves start because of the echoes of 10 years ago, when Arkaga took over Cork City.
In 2007, Brian Lennox was the local businessman who had done a fantastic job at the helm of Cork City. He felt he could take the club no further. Over the next year we were introduced to a variety of businessmen fronting the Arkaga investment fund which promised to bring the club to the next level.
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We were promised a better standard of player, upgraded stadium facilities, European football and even an All-Ireland League. A leading figure who led the successful transformation of the Irish Greyhound Industry was brought in to kick ass. At the start it looked great. Money was spent, Dave Mooney scored goals, but only five months into the season they disappeared and my club went into examinership.
The investment fund had thrown a bit of cash around, but they didn’t understand Irish football, the politics of the game. Then they realised that there was no money to be made, that the costs they’d built up and the money they’d spent would never be recouped. Just like that, it was over.
Now, Peak6 seem a much different entity to Arkaga. The consortium members have all been involved in various aspects of the game for a long time. They won’t lament how easy it was to deal with greyhounds compared to footballers. I know that Andy Connolly and Paul Brown wouldn’t have sold up unless they felt they couldn’t take the club further and unless they felt the new owners were the best possible option.
New Dundalk co-owner and spokesperson Jordan Gardner has impressed. He’s clearly a ‘football man’ and his social media feed going back years is almost exclusively a read of interesting articles, comments and opinions on football.
Dundalk manager Stephen Kenny celebrates after their Champions League win over BATE Borisov in 2016. Ciaran Culligan / INPHO
Ciaran Culligan / INPHO / INPHO
In an upbeat interview with Gavin McLaughlin on DundalkSport.ie, Martin Connolly, general manager of Dundalk FC, spoke about the new owners’ love of the game, their understanding of the community and volunteering ethos around the club, and the challenges in terms of facilities and the game here.
Peak6 as an organisation is an investment fund which operates in the 10s of billions, but Connolly doesn’t expect to see millions thrown at Dundalk. He sees a stable budget being set and adhered to, with first-team manager Stephen Kenny having access to a slightly higher standard of player being the only noticeable change. That sounds positive. Realism is an essential attribute for any owner in our league.
Of course, for all the positives, you wonder if they’re mad. I’m not sure anyone who gets into Irish football in an ownership capacity can place any value on ‘due diligence’. The league is nuts and everyone is only a few bad decisions away from trouble — which is a dangerous predicament when the only way to guarantee a consistent profit is to reach European football year on year. Breaking even is a positive result for a League of Ireland club.
Right across Europe, particularly in the UK where the new owners’ experience comes from, TV money is a huge part of your annual income. It surpasses match income and sponsorship/merchandising. At home, there’s no TV money, and games on TV can mean a loss on gate receipts. Your focus on getting people into the stadium, pounding the pavements to sell match sponsorship and gear is a world away from the English Premier League.
The truth is that qualifying for Europe in one year makes repeated qualification easier, as you have more money to afford a squad which gets you to the top three. But as soon as those players show themselves on the European stage, you are battling with Championship and League One clubs in England who can offer them significantly better financial packages.
Now, try to incorporate an annual rebuilding exercise to replace your best players, while staying competitive. For all the differences between Arkaga and Peak6, the fear is whether a bad run of results or a bad return would see them cut and run, as Arkaga did.
If they can take the time to navigate the FAI and the workings of the league, continue the positive relationship they have with other clubs and listen to the advice of those who’ve seen both Dundalk’s good and bad times, they have a chance.
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Dundalk's new owners look the part but past experiences leave cause for concern
THERE’S LITTLE DOUBT about what the biggest story of the off-season was — the purchase of Dundalk FC by Peak6, bringing to an end the spectacular years under Andy Connolly and Paul Brown.
Everyone involved in the deal is convinced it’s the best thing for the club. It’s all positive. So why do I feel so nervous? If you look at the clubs with which Peak6 are involved, either as a group or individual owners — particularly Swansea City and Bournemouth — you’ll see stable clubs built on a sound ethos, possibly punching above their weight, but well-run.
We should be no warier of Peak6 than Waterford fans were last season during their takeover, but somehow the term ‘investment fund’ brings an air of suspicion that an individual may not. The nerves start because of the echoes of 10 years ago, when Arkaga took over Cork City.
In 2007, Brian Lennox was the local businessman who had done a fantastic job at the helm of Cork City. He felt he could take the club no further. Over the next year we were introduced to a variety of businessmen fronting the Arkaga investment fund which promised to bring the club to the next level.
We were promised a better standard of player, upgraded stadium facilities, European football and even an All-Ireland League. A leading figure who led the successful transformation of the Irish Greyhound Industry was brought in to kick ass. At the start it looked great. Money was spent, Dave Mooney scored goals, but only five months into the season they disappeared and my club went into examinership.
The investment fund had thrown a bit of cash around, but they didn’t understand Irish football, the politics of the game. Then they realised that there was no money to be made, that the costs they’d built up and the money they’d spent would never be recouped. Just like that, it was over.
Now, Peak6 seem a much different entity to Arkaga. The consortium members have all been involved in various aspects of the game for a long time. They won’t lament how easy it was to deal with greyhounds compared to footballers. I know that Andy Connolly and Paul Brown wouldn’t have sold up unless they felt they couldn’t take the club further and unless they felt the new owners were the best possible option.
New Dundalk co-owner and spokesperson Jordan Gardner has impressed. He’s clearly a ‘football man’ and his social media feed going back years is almost exclusively a read of interesting articles, comments and opinions on football.
In an upbeat interview with Gavin McLaughlin on DundalkSport.ie, Martin Connolly, general manager of Dundalk FC, spoke about the new owners’ love of the game, their understanding of the community and volunteering ethos around the club, and the challenges in terms of facilities and the game here.
Peak6 as an organisation is an investment fund which operates in the 10s of billions, but Connolly doesn’t expect to see millions thrown at Dundalk. He sees a stable budget being set and adhered to, with first-team manager Stephen Kenny having access to a slightly higher standard of player being the only noticeable change. That sounds positive. Realism is an essential attribute for any owner in our league.
Of course, for all the positives, you wonder if they’re mad. I’m not sure anyone who gets into Irish football in an ownership capacity can place any value on ‘due diligence’. The league is nuts and everyone is only a few bad decisions away from trouble — which is a dangerous predicament when the only way to guarantee a consistent profit is to reach European football year on year. Breaking even is a positive result for a League of Ireland club.
Right across Europe, particularly in the UK where the new owners’ experience comes from, TV money is a huge part of your annual income. It surpasses match income and sponsorship/merchandising. At home, there’s no TV money, and games on TV can mean a loss on gate receipts. Your focus on getting people into the stadium, pounding the pavements to sell match sponsorship and gear is a world away from the English Premier League.
The truth is that qualifying for Europe in one year makes repeated qualification easier, as you have more money to afford a squad which gets you to the top three. But as soon as those players show themselves on the European stage, you are battling with Championship and League One clubs in England who can offer them significantly better financial packages.
Now, try to incorporate an annual rebuilding exercise to replace your best players, while staying competitive. For all the differences between Arkaga and Peak6, the fear is whether a bad run of results or a bad return would see them cut and run, as Arkaga did.
If they can take the time to navigate the FAI and the workings of the league, continue the positive relationship they have with other clubs and listen to the advice of those who’ve seen both Dundalk’s good and bad times, they have a chance.
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John O'Sullivan League of Ireland LOI Opinion Peak6 Dundalk