Celtic In Talks To Become Substantial Stakeholder In Shamrock Rovers

I read it somewhere yesterday if desmond wants to invest in shamrock rovers let him spend his own £ billions not celtics limited funds

 

Probably will then put as shares with celtic like he did with Lennoxtown

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I could have been a Celtic player but then I took an arrow in the knee.

 

Aye

It just doesnt make a lot of sense this. Okay, a few on here are stating that the LOI have reformed there youth structure. Fair enough, but is that enough to own another Club? Not for me.

 

Is it the club or the company were investing in?

 

This where our transfer kitty is being spent? Arseholes.

 

And Buckie Thistle

 

Never should have come here ...

 

- Marvin Compper

 

Between this and lawwells bonus and the disco lights is this where all the money is going and still haven't bought a * player yet.

 

Mind the hotel.

 

Shamrock Rovers are on course to ask their members to approve a major investment by billionaire businessman Dermot Desmond in the club over the coming month. The deal is believed to be worth in the region of €3 million.

The Rovers board, which is made up of representatives of the supporters along with Ray Wilson, the Sydney-based Dubliner who provided substantial funds to allow it invest it its academy at the Roadstone site in Kingswood, is understood to have agreed to pursue the deal which is subject to final approval by Desmond.

The expectation seems to be that he will proceed at which point the club will have to seek the approval of its members. The deal would be widely seen as a major coup. The money involved –notwithstanding the Peak6 takeover of Dundalk – is far beyond what clubs here have generally been able to attract from outside investors and Desmond would undoubtedly bring more than just money to the table.

He would expect to wield very considerable influence, of course, in return for any funds provided but he will not, apparently, obtain a controlling interest.

It is certainly hard to imagine the deal being rejected although there are bound to be members with reservations.

Although the investment is understood to be by Desmond rather than Celtic, in which he is the largest single shareholder, it is still bound to raise concerns about the Dublin club’s independence amongst those supporters old enough to remember the helplessness with which they had to watch former owners, the Kilcoynes, make key decisions about its future.

There may also be the fear that the current plan, for the academy to develop players who can be sold on at a profit to club abroad, might actually be compromised by the establishment of strong ties to just one club to which Rovers might come to be regarded as a feeder.

Desmond’s central involvement does seem certain to mean closer links to the Scottish League leaders although the board, whose longest serving members are Wilson as well as supporter representatives chairman Jonathan Roche and Mark Lynch, appear to believe it can retain its independence.

As things stand, the club is owned equally by Wilson and the supporters with each side controlling the same number of shares. It is understood that Wilson’s share was due to be diluted as the €1.5 million he provided in the form of an interest-free loan a couple of years back was gradually repaid through players sales. It is not known how this arrangement might be affected by Desmond deal.

A significant portion of the funds he provided have been invested in the academy at the Roadstone Sports and Social centre which is operated by a separate company that is wholly owned by the club.

Rovers have aggressively sought to recruit the best young players from clubs around Dublin in order for the academy to compete with the more established elite schoolboy outfits.

Damien Duff was the club’s most high-profile coach in the youth section. The former international left for the job of reserve team coach at Celtic before Christmas and was this week promoted to work with Neil Lennon as part of the first team coaching staff.

The most recent financial results for Rovers and the academy revealed the scale of the cost of bringing the youth development side of things up to the standard required with losses of €350,000 in the year to November 2017. But it was noted at the time that these were an expected part of the start up and the sale of teenage goalkeeper Gavin Bazunu, for a widely reported fee of €400,000, to Manchester City last year, provided a sense of the plan’s potential.


https://www.irishtimes.com/sport/so...vestment-deal-with-desmond-1.3810317?mode=amp

 

A meeting was held today with the members of Shamrock Rovers Members Club (the “Members Club”) where information was shared regarding a proposed change in club shareholding which would see Mr. Dermot Desmond become a 25% shareholder in Shamrock Rovers F.C. Limited (“Shamrock Rovers”).


The board of directors of the Members Club outlined to the members the proposals that have been developed in recent months in conjunction with its co-shareholder in Shamrock Rovers, Mr. Ray Wilson.


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. 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.


Mr. Desmond is especially interested in supporting Shamrock Rovers’ ambitious plans to further develop the club’s Academy and building on the very strong foundations laid by the club in recent years. Mr. Desmond sees any involvement with Shamrock Rovers as being more akin to a trustee than a shareholder. 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.


Mr. Desmond’s note concluded by informing the members that he would be delighted to become a shareholder in Shamrock Rovers and help support a great club with a rich tradition.


The Members Club will consider the information provided today and shortly convene a general meeting to formally vote on accepting or rejecting the proposals.


Should the proposals be accepted by the membership, the new ownership structure of Shamrock Rovers will be made up of the Members Club (50%), Mr. Ray Wilson (25%) and Mr. Dermot Desmond (25%).


There will be no further comment by any party involved in the discussions until after the general meeting.

 

Another feeder club...just what we need.