As has been widely reported all week, a consortium led by former Airtricity League manager Sean Connor, are set to invest in the club following further negotiations this week.
A statement on the official club website indicated that the group has been in talks with current Limerick owner Pat O’Sullivan since last July, all of nine months ago.
The brief statement read;
“The club can confirm, that we are at an advanced stage of negotiations with an investment group who we have been talking with since last July. The group have a firm business plan and strategy in place.
We share their vision, values and core objectives for the club. We had hoped to make a formal announcement this week, however some additional time is required for legal documents to be finalised.
This is due to one of the main parties involved being away on other business matters. Sean Connor has been representing the investors at the club this week and has been preparing the ground from a procedural perspective, to allow for this strategy to be implemented.”
SSE Airtricity League Premier Division, Showgrounds, Sligo 30/10/2015 Sligo Rovers vs Limerick Limerick chairman Pat O’Sullivan celebrates after the game Mandatory Credit ©INPHO/Cathal Noonan
The statement went on to acknowledge Connor’s experience in the Airtricity League in the past and feel that they group have the best interests of Limerick soccer and Limerick City at heart.
Connor has not been involved in Airtricity League football since his stint with Galway United in 2011.
The Airtricity League First Division side have competed well on the field so far this season and are just five points from the top of the table.
Despite the club’s budget being cut significantly before the start of the season, the Shannonsiders have run into financial problems once more with the failure to pay players for three weeks.
Players were due to be paid on Friday but were only provided with their overdue wages on Saturday before travelling to Longford for a league game. The next payment is due in less than a week which could see further trouble.
Supporters have voiced concerns about the direction of the club in recent days as talks have broken down with private investors who made clear their intention to engage in take over talks.
In light of recent events, the Daly family, who had sponsored the official home jersey for the season have indicated that they want to cut all ties with the club under current ownership with immediate effect.
Current owner Pat O’Sullivan has made it clear in the last two years that he is unable to fund the club on his own anymore. This was proven by last year’s prolonged financial troubles and Limerick’s relegation from the premier division.
However, two takeover talks with a local consortium and a consortium from abroad have rapidly ceased and supporters appear to be losing patience with the lack of activity.
Given the current troubles, it is unlikely that the appointment of Sean Connor as a CEO will improve the mood on Shannonside.
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