SHELBOURNE’S IRISH DIRECTORS are set to regain control of the club from Turkish millionaire Acun Ilicali before the end of this week.
And The 42 can reveal that it’s a deal that will not cost them a single cent as Ilicali has agreed to walk away without recouping any of his firm’s initial investment.
It is believed that his takeover, almost five months ago to the day, came with a view to injecting €3 million into the League of Ireland side. A substantial amount was presented up front for a 60% stake but it is understood that the deal which is close to being confirmed will not require any money to be paid back, with some of the cash still in the bank to remain.
The uncertain future of manager Damien Duff was the catalyst for this agreement to be thrashed out.
The 42 has learned that it is a situation that has been brewing for some time and while Ilicali made no explicit reference to letting him go, when the former Ireland international spoke out after the final Premier Division game of the season about the lack of movement on a new contract offer, it put the wheels in motion for Shels’ Irish directors – led by Premier Sports founder Mickey O’Rourke – to act.
Ilicali also owns English Championship outfit Hull City, and it’s understood that the two clubs will retain a strategic partnership going forward, but with no minority ownership or directorships on the new board offered to the outgoing Turks.
Effectively, Ilicali is happy to walk away from Shels and cut his losses in a deal that has been described as amicable.
An announcement of the takeover is imminent and so too is confirmation that Duff will stay on as manager.
After leading Shels to a fourth-place finish last season, they are hoping for St Patrick’s Athletic to beat Bohemians in this weekend’s FAI Cup final to ensure qualification for the Europa Conference League qualifiers.
Never a dull moment supporting Shels. Just delighted Duff is staying on
Anyone got the real story?
Why would he walk away at a loss just before they might get European Football and potentially make a profit….. Someone’s not telling the whole story here…
Pound shop sale, with Ronald Mcdonald remaining as manager
Off subject. Had to switch to TNT sport. Brian Kerr doing my head in, keeps going on and on.
@Michael Carroll: Kerr is alright it’s just his Dublin accent that annoys me
@Michael Carroll: Same here, insufferable listening non stop to that accent.
@Der Calnan: package a crips
@Der Calnan: he’s only buzzin
@Michael Carroll: Agreed!
Never straighforward when Duff is involved! All a bit strange .
Also it was a very strange takeover in the first place , the Turk definitely had other motives, like as if he ever even heard of shelbourne
Also I loved duff as a player when he never spoke a word in 20 years, but since he’s retired he’s an awful annoying little man, between his punditry and his antics on the sideline
Why didn’t he just give duff another 12 month contract and take the European money that they might get and then walk away
I keep asking on league of Ireland posts but can’t get a conversation going, any news on an All Ireland League?
@Der Calnan: no
@real man: pity really, we could have a great league and TV money.