SHAMROCK ROVERS MEMBERS will shortly vote on proposals that would change the club’s ownership structure and see Dermot Desmond take a 25% stake in the League of Ireland outfit.
Desmond, who is Celtic’s largest shareholder, has confirmed to Shamrock Rovers members that he wants to become a shareholder in the Hoops and plans to invest in the club’s academy structures.
In a statement released on Saturday afternoon, Shamrock Rovers say the Irish businessman ‘sees any involvement with Shamrock Rovers as being more akin to a trustee than a shareholder.’
Shamrock Rovers members will now hold a general meeting to formally vote on accepting or rejecting the proposals which would see the ownership structure be broken down as follows: Members Club (50%), Mr Ray Wilson (25%) and Mr Dermot Desmond (25%).
“Shamrock Rovers has evolved from being a members’ owned entity in 2005 to a hybrid model in 2016 when a partnership structure was developed with Mr Ray Wilson,” the statement read.
“This proposal is the latest potential evolution in the hybrid model of fan ownership combined with private ownership and is a structure that the board of directors of the Members Club feel is a long term sustainable model that will propel Shamrock Rovers forward on and off the pitch.
In a note to club members, Mr Desmond confirmed that should he become a shareholder in Shamrock Rovers his intention is not in pursuit of monetary gain and there is no financial or asset play.
“Mr Desmond noted that he would expect any positive future cash flow generated to be reinvested in the club such that all stakeholders (including supporters, players, coaching staff, management and sponsors etc.) will benefit. Mr Desmond stated that his sole motivation in considering this investment is to advance the cause of Shamrock Rovers.”
It added: “He believes that the proposed investment would put the club on a sound financial footing, providing stability to allow the long term benefits of the club’s Academy plan to bear fruit and to afford Shamrock Rovers the continued opportunity to credibly pursue success on the pitch.”
Shamrock Rovers say no further comment will be made until after the general meeting.
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Bulls*%#. Should have taken control of the situation. If your not going to control the situation as custodians of the game what are you going?? Be as well rip up the rule book and quit.
@Stephen Drake: I guess you’re one of the people that just doesn’t get it, that Ryan is referring to, Stevo! And it’s okay, albeit a pity, that you don’t get it, he said!
I suppose it makes sense that the amateur sport has an amateur leadership.
It’s still not sorted. When is the replay fixed for? Until it’s played it’s still an Issue.
@John Smith: will never be played
Extraordinary incompetence from an organisation that has so much buy in across our nation! It’s time the GAA answered some hard questioning.
Ah, the same old rhetoric from the top man in there GAA . He didn’t w to undermine the CCCC ,– he didn’t have to,– if the CCCC is the body within the GAA that it was up to the Members to initiate an enquiry straight away,– that evening. He need not try to hide behind a sub committee, — I’m sure there was a discussion in Croke Park that evening,- no point in saying there wasn’t. A shower of gutless watery individuals who could not make a decision , just as in 2010. after Leinster Final. Will ye go and Man up and deal with crisis when it happens .
Day 1 , replay . Sounding like the Tories .
Hounds gaa come down to. Cork ll make sure ya get free deal tramp that promoter hearn up the Irish forever
@Mark Murphy: wtf
@rhino burns: a very sensible comment from Murph there rhino! I hope hounds gaa come down to as well!