DUNDALK’S IMMEDIATE FUTURE has been secured but the rescue takeover by local barrister John Temple may not be enough to secure the long-term survival of the League of Ireland club.
While the new majority owner at Oriel Park yesterday hailed his dramatic deal with Brian Ainscough as “a proud day”, there are tougher ones still to come.
Although none might be quite so dramatic as yesterday given that sources confirmed the expectation was that a different bid, fronted by an American investor, was the frontrunner with Ainscough until that deal broke down by early afternoon.
The 42 has also learned that the FAI were preparing a statement and a plan of action on the basis that Dundalk went out of existence.
But they will live to fight on for the remainder of this season, and the outcome of talks between Temple and other interested parties over the coming days may well determine how they will operate beyond this winter.
Temple will meet with one of the leaders of a rival consortium that had hoped to take control, with both understood to be prepared to join forces – and resources.
Dundalk need strength in numbers given the severity of the debt situation, with €1.5 million required to get out of the red and an estimated total of €3m to put the club on a firmer footing on the path to sustainability.
Former Dundalk player Donal Greene has been to the forefront of a group based in Slovakia who had been prepared to step in and save Dundalk after Ainscough had set a self-imposed deadline of 5pm on Monday to secure the money needed to avoid liquidation.
Greene flew into Dublin last night and his first port of call was a fan forum event that had been called by the 1903 Supporters’ Group at Oriel Park.
When he departed Slovakia he was still awaiting word back from Ainscough about his offer. By the time he landed Temple had been announced as the new owner. It was that kind of day.
It is believed that an immediate injection of €360,000 was required for Dundalk to survive until the end of this season and avoid the catastrophic scenario of going out of existence and throwing the current Premier Division season into disarray.
In the statement confirming Temple’s takeover yesterday, it was explained that he “will lead a consortium of investors who have agreed to underwrite the players’ current wages until the end of the season and will examine the viability of the club and its facilities going forward.”
The Irish Independent last night reported how Dermot Ahern, the former Minister for Foreign Affairs who now chairs the FAI’s National League Committee, acted as an intermediary to help facilitate discussions since Ainscough revealed last week that the club was on the brink of collapse.
Still, Dundalk, under the previous ownership, had already begun the process of securing its licence with the FAI to compete in the 2025 Premier Division season. Legal details will have to be updated given the change of ownership, and late October is the final deadline.
On Monday, Minister for Sport Thomas Byrne also confirmed that a further €500,000 would be forthcoming for upgrade work at Oriel Park as part of their Sports Capital Grant Application, provided the club remained in existence.
Referencing that commitment in the statement, Temple said: “Dundalk is a football town and the club is hugely important to all the staff, players and supporters.”
Through his investment company Silverlane Investments, Temple tried to take control at Oriel Park late last year when Andy Connolly and StatSports opted to sell up. Ainscough instead got a deal over the line but, less than a year on, his desire and ability to bankroll the club had waned.
The deal that has been struck with Temple means Dundalk will avoid the Small Company Administrative Rescue Process (SCARP), which would have resulted in a points deduction and certain relegation.
Amid all of this uncertainty, Dundalk players were training as usual this week in preparation for another vital game in their battle against relegation. They’re away to Sligo Rovers on Saturday and experienced winger Daryl Horgan explained how the most important thing was the survival of the club.
He spoke of his shock at how quickly the situation unfolded over the last couple of weeks, with wages missed earlier this month and then the madness of the last 36 hours.
Given that the club only offered Horgan a new contract last month – one which was accepted and signed – and seven more players had improved offers, it’s fair to say plenty had been blindsided at Oriel Park.
But everyone’s eyes are open to the situation now.
