New owners at dundalk

[sbgawa]

Rumour that the Americans that own 25 percent of Bournemouth are buying dundalk....

[Yossarian]

Rumour that the Americans that own 25 percent of Bournemouth are buying dundalk....

They were at the Bohs game recently. Obviously weren't put off by the poor performance on the pitch!!

[dundalkfc10]

Rumour that the Americans that own 25 percent of Bournemouth are buying dundalk....

Looks like they are going to buy us all right, with the two owners now staying in charge of day to day runnings of the club

[Pablo Escobar]

Looks like they are going to buy us all right, with the two owners now staying in charge of day to day runnings of the club

American investors go after cash rich club with limited potential to increase cash flows (as is the norm in the LOI). What could go wrong?

[sbgawa]

Probably want to use it as a reserve club for Bournemouth. Could mean some decent loan players for small money. Can't imagine the current owners would sign the club up to something daft. It's not like they are desperate for a deal.

[micls]

Probably want to use it as a reserve club for Bournemouth. Could mean some decent loan players for small money. Can't imagine the current owners would sign the club up to something daft. It's not like they are desperate for a deal.

Lennox sold us in good faith too. He'd never have done anything to hurt the club intentionally. We all know how that ended.

I can't see how a foreign investor with no reason to care about the league or club coming in could be seen as a positive in the long term, with what we've seen before. When things inevitably don't go to plan, there is no incentive for them to do anything but throw in the towel. If I were a dundalk fan, I'd be skeptical, worried and I hope the fans have a strong fans trust in place in the long run.

[EatYerGreens]

American investors go after cash rich club with limited potential to increase cash flows (as is the norm in the LOI). What could go wrong?

Can any club in Irish football really be described as "cash rich" ?

[outspoken]

Was told about these on Saturday, apparently they have links to dundalk and it will be 60/40 with the Americans taking the larger stake. I’m always weary of outside investment but let’s see what happens here after all Lee Power has been great for Waterford

[desaintsno.12]

whats the carrot for Dundalk....i dont get it

[osarusan]

Any combination of the terms 'investor' and 'LOI' makes me shudder.

[oriel]

They were at the Bohs game recently. Obviously weren't put off by the poor performance on the pitch!!

Now this rings a bell, at the Bohs match I noticed two guys from abroad being shown around the club shop by one of the owners, I honestly thought they were mad football tourists !

[outspoken]

12.5 million minimum for reaching CL Group stages but how much investment is it going to take to reach that level? Talk of crazy money getting offered to players by a few clubs in this league, you’d fear of another Shelbourne situation. I think Dundalk should tread carefully here

[Mr A]

Could be related to the increased euro money increasingly distorting the league. With this income now getting to the stage were it makes it difficult for other clubs to compete, the likes of Dundalk may look like a more stable investment than any LOI club has ever.

[Pablo Escobar]

Could be related to the increased euro money increasingly distorting the league. With this income now getting to the stage were it makes it difficult for other clubs to compete, the likes of Dundalk may look like a more stable investment than any LOI club has ever.

It would still take Group Stage qualification to make any sense. The risk reward combined with the level of actual investment that would be necessary wouldn't be prudent IMO. I'm going to remain very skeptical about intentions here.

[Philosophizer]

Now this rings a bell, at the Bohs match I noticed two guys from abroad being shown around the club shop by one of the owners, I honestly thought they were mad football tourists !

Well it wouldn't be totally outlandish for that to happen. I have seen it estimated that Bohs have about 200 football tourists at every home game - a benefit of being the only LOI club in Dublin city centre i suppose, and playing in a v historic (albeit mostly crumbling) ground.
At the last home game against Harps for example, the guy sitting in front of me was a French lad who worked for some French football magazine and was doing a piece about Bohs. I've also come across plenty of Germans, French and Britons at Dalyer in recent years.

[sbgawa]

Could be a simple route for getting visas for American players into Europe.
Alternatively a way of getting reserve team or youth team players from Bournemouth match experience in a competitive league playing against men as opposed to the youth leagues in the UK.
Chelski make a science out of loaning players out to feeder clubs of one degree or another.

[vinnie]

I would think a few clubs get the tourists in fairness, there's regularly a handful of Swedes, Germans or Danes at Rovers matches


Well it wouldn't be totally outlandish for that to happen. I have seen it estimated that Bohs have about 200 football tourists at every home game - a benefit of being the only LOI club in Dublin city centre i suppose, and playing in a v historic (albeit mostly crumbling) ground.
At the last home game against Harps for example, the guy sitting in front of me was a French lad who worked for some French football magazine and was doing a piece about Bohs. I've also come across plenty of Germans, French and Britons at Dalyer in recent years.

[ger121]

I would think a few clubs get the tourists in fairness, there's regularly a handful of Swedes, Germans or Danes at Rovers matches

They went to the wrong end of Wicklow by mistake and got trapped.

[EatYerGreens]

It would still take Group Stage qualification to make any sense. The risk reward combined with the level of actual investment that would be necessary wouldn't be prudent IMO. I'm going to remain very skeptical about intentions here.

And regular group stage qualification at that.

[nigel-harps1954]

whats the carrot for Dundalk....i dont get it

Banana.

[redarmyfaction]

Well it wouldn't be totally outlandish for that to happen. I have seen it estimated that Bohs have about 200 football tourists at every home game - a benefit of being the only LOI club in Dublin city centre i suppose, and playing in a v historic (albeit mostly crumbling) ground.

Shels also play in historic (albeit mostly crumbling) ground close to city centre, also Pats are not that far out though their ground is not so historic or derelict.

[Charlie Darwin]

There are no LOI grounds in the inner city but Dalyer fits the description best and has the best transport links.

[Philosophizer]

Shels also play in historic (albeit mostly crumbling) ground close to city centre, also Pats are not that far out though their ground is not so historic or derelict.

Tolka and Richmond Park are probably my 2 favourite LOI grounds - stands on all 4 sides and right on top of the pitch - proper old school.
But to be fair, neither of them have anything like the history and charactar of Dalyer. The Irish team played there for about 100 years. It's hosted the liked of Pele and Santos back in the day, Zidane, Gullit, Boniek, Van Basten etc. And then there's the music - Thin Lizzy, Bob Marley, Ozzy Osbourne. The graffiti. The murals. Archibald Leitch. Floodlights from Highbury. The list goes on. I think the redevelopment has even planned to include a museum in one of the new stands.
And Bohs are one half of Dublin's main derby, which is often a pull for the tourists. The Cop90 documentary probably hasn't done any harm in drawing football tourists either.
And the most accessible from the city centre as CD mentioned.
And Bohs is just a much more vibrant club these days than either Pats or Shels. Shels have been in the doldrums for the best part of a decade.

[desaintsno.12]

Well it wouldn't be totally outlandish for that to happen. I have seen it estimated that Bohs have about 200 football tourists at every home game - a benefit of being the only LOI club in Dublin city centre i suppose, and playing in a v historic (albeit mostly crumbling) ground.
At the last home game against Harps for example, the guy sitting in front of me was a French lad who worked for some French football magazine and was doing a piece about Bohs. I've also come across plenty of Germans, French and Britons at Dalyer in recent years.

off topic, but Bohs deserve massive credit for this. Pats are also relatively city centre based and couldnt get this together (or anything for that matter)

[ToberonaTornado]

When approached by The Democrat for comment, Dundalk FC General Manager Martin Connolly neither confirmed nor denied contact from Peak6 or any other potential investor, saying any future decisions would have to fall in line with the best interests of the club.

"We have been approached a number of times in the last 12-18 months about potential investment and we have always maintained that if we feel something will be good for the development of the football club, then we will talk," Connolly said.

http://www.dundalkdemocrat.ie/news/national-sport/281181/potential-dundalk-fc-investors-understood-to-have-been-in-town.html

[mcgonigle]

neither confirmed or denied contact

Uh oh, Cork fans will not be happy...

[El-Pietro]

Uh oh, Cork fans will not be happy...

We've been on cloud 9 all week!

[Real ale Madrid]

Uh oh, Cork fans will not be happy...

Look, I'm not going to put myself in an awkward position but I'm not going to deny it either at this stage. I'm not going to lie to you. I'm happy.

[mcgonigle]

We've been on cloud 9 all week!

You sure? Seems like you're all a bit busy in Cork looking for recognition than enjoying the success

[micls]

You sure? Seems like you're all a bit busy in Cork looking for recognition than enjoying the success

We can multitask. You mightnt have figured out that skill yet. Right now, I'm posting on foot.ie, drinking tea, basking in being double champions, planning a trip to see the trophies today and looking for recognition all at the same time. Easy.

[mcgonigle]

We can multitask. You mightnt have figured out that skill yet. Right now, I'm posting on foot.ie, drinking tea, basking in being double champions, planning a trip to see the trophies today and looking for recognition all at the same time. Easy.

You've had plenty of time to plan for this anyway and of course women are proven to be better at multi tasking

[ger121]

We can multitask. You mightnt have figured out that skill yet. Right now, I'm posting on foot.ie, drinking tea, basking in being double champions, planning a trip to see the trophies today and looking for recognition all at the same time. Easy.

Plus there’s always time to be a Langer.

[colonelwest]

Talk of it being done within 2 weeks according to The Times again, solicitors drawing up the documents at the moment. Interesting times ahead, hopefully not of the Arkaga/ Athlone variety!

https://www.thetimes.co.uk/article/0c4bc086-cb1b-11e7-b529-95e3fc05f40f

(Paywalled)


The proposed takeover of Dundalk by a group of American businessmen has reached the legal stage with solicitors acting for the prospective new owners in talks with the existing board.

Peak6, a Chicago-based investment company, which invested in Bournemouth two years ago, wants to take full ownership of the SSE Airtricity League side and invest a substantial amount of money to develop facilities.

The plan is to increase the first-team budget sufficiently to ensure a full-time professional set-up is in place at Oriel Park, with players on 52-week contracts, as opposed to their present situation, where the overwhelming majority of them are paid for 40 weeks each year.


In addition, according to sources privy to the talks, the group also intends to invest money in…


Want to read more?


https://giant.gfycat.com/NippyJauntyBlacknorwegianelkhound.gif

[Longfordian]

“plans to invest money in stocks of minerals and crisps” I assume?

[BonnieShels]

When this news broke the first thing I thought of was...

2619

[oriel]

Appears this is going ahead.

https://www.independent.ie/sport/soccer/league-of-ireland/dundalk-deal-with-new-american-owners-nears-completion-36362570.html

[redobit]

Appears this is going ahead.

https://www.independent.ie/sport/soccer/league-of-ireland/dundalk-deal-with-new-american-owners-nears-completion-36362570.html

That article say they will take 100% control of the club. How do Dundalk fans feel about that. That would never happen in the Showgrounds.

[White Horse]

Appears this is going ahead.

https://www.independent.ie/sport/soccer/league-of-ireland/dundalk-deal-with-new-american-owners-nears-completion-36362570.html

100% ownership as well.

I have mixed feelings about this. There is a lot of comfort in being owned by the club being owned by a couple of fans who are also astute business men. We are taking a leap into the unknown.

[jinxy lilywhite]

That article say they will take 100% control of the club. How do Dundalk fans feel about that. That would never happen in the Showgrounds.

It will all end in tears eventually and we will need more than bag packing in tescos or pub quizzes around town to survive.

No bones about it. It's a vulture fund takeover. If we don't perform and return a quick profit they will cut us lose with a huge debt

[oriel]

Dundalk do not own Oriel Park, and the ground can never be sold, (terms of lease dictates ground can only be used for football) the current owners own the entity, the lease, buildings, and player contracts only, and obviously the revenue that comes from the 2 or 3 bars that currently operate. I was surprised to see 100%, but at the end of the day there is probably only around 2m left from the euro run, the new pitch and securing the lease /YDC would have cost the guts of 1m, and the remaining monies was never going to be enough for a proper ground redevelopment. It would have wiped out all cash flow plus they would have had to borrow /apply for grants to finish the job. As most know the list is a long one in terms of redevelopment.

The current owners are perfectly entitled to make a profit from the sale as they bought the club when in serious debt. The new owners have the funds to properly redevelop at least 3 sides of the ground, and increase the playing budget, as long as the club is on a solid financial footing after this, I would be cautiously happy. There is talk of ensuring that the improvements going in are also a revenue generating source, like better use of the YDC in indoor pitch rentals, re-use of the bar within there, and other corporate facilities to be built to be used for regular non match events, and for bigger matches when required.

There has been very little details so far, so I can only form an opinion on the bits I’ve picked up. There is of course the danger that the new owners will become disinterested in years to come and sell off their project, but I would like to think the current owners are smart enough to have some sort of protection that DFC would not be left liable for any of their debts if this happened, but as with any business the same risks would apply, investments can rise as well as fall……………..these guys are not doing this for nothing though, so it remains to be seen exactly what ground redevelopments they will start, and when, or is this purely an attempt to make money from another few euro runs, and keep all that cash for themselves.

[dundalkfc10]

Not one link, source anything in that Indo report!

The same paper said McMillian was in Scotland meeting St Johnstone manager last week and him in Sri Lanka. (although he looks like he is going)

[sbgawa]

The most obvious way these guys could help would be loan signings from Bournemouth of players from Jan to July who need game time with Bournemouth still paying their wages .
These guys have unlimited funds (in a LOI context) so throwing in the towel is unlikely as a couple of million either way won't cause a blip in their soccer portfolio but they will be harsh judges , biggest budget in the league will be a burden for the management team if they don't deliver.
It has to be a positive for Dundalk really , no assets to be stripped and these guys aren't like the North Koreans running Bray.

[Ezeikial]

or is this purely an attempt to make money from another few euro runs, and keep all that cash for themselves.

Wake up - what the hell else could this be about?

Do you think this is some sort of philanthropic exercise?

[Mr A]

Are the 2 current owners making much out of this deal?

[Nesta99]

They have obviously seen all the wailing and gnashing of teeth over the away section in Oriel and decided enough was enough.

So build a ground for us, leverage us with debt that must see some return withinn a certain timeframe or else the vulture fund types will start circling. Investment in youth development a big part of the alleged plan. Offering players greater incentives to sign up on longer term deals under a young and ambitious manager. Interest piqued after back to back titles and new ground broken with an adventure in to EL group stages. New, never seen before stuff!

[Nesta99]

Are the 2 current owners making much out of this deal?

I doubt it, maybe the money spent clearing the initial debts of the club will be the return. They were never the type to 'invest' money and then grab a slice of prizemoney the moment it hits the clubs accounts. An awful lot of what they have done is doing the basics well - there would still be people who feel that communication between the club and fans was a persistant problem but Paying bills and building good will in the local community, working within the clubs means, maximising sponsorship opportunities, backing their choice of manager from the getgo without getting the jitters after comprehensive a loss to our nearest and dearest, well it all came together well but it wasnt revolutionary stuff!

[oriel]

Wake up - what the hell else could this be about?

Do you think this is some sort of philanthropic exercise?

Of course they are in this for a profit, everyone knows that, I was making the other points also as in what can we get out of it. To be fair there was absolutely nothing stopping the current DFC owners splitting the euro money last year and walking away immediately leaving the club with zero and putting it up for sale then.

No one has seen any detail of the plan so far, so we can only speculate on what the terms are. If we can get a redeveloped ground out of this, they will be entitled to take a return on future profits out as payment, the concern would be they will not fund a redeveloped ground and will only be interested in future euro monies. That is the obvious concern for any fan.

EDIT: There has to be a price in a takeover, so the current owners will be entitled to make monies out of this and should get a decent return too on their initial investment.

[Nesta99]

There are so many rumours doing the rounds, if or when a takeover is announced I will believe it and then maybe start worrying!

[Cosmo]

There are so many rumours doing the rounds, if or when a takeover is announced I will believe it and then maybe start worrying!

If what the Indo article says is true, this will end in only one way. Have been sh!tting myself the last couple of years that you would go from strength to strength but this is great news!

An American private equity firm? You will get a nice year or two but will eventually end in only one way. Good day for the drogs!

[White Horse]

Good day for the drogs!

One sentence that sums up what is wrong with your club and supporters.