Dundalk takeover is finally confirmed
THE protracted takeover of Dundalk football club by an American consortium was finally confirmed last night. A deal between the group — led by Chicago investment firm Peak6 — and previous join-towners Paul Brown and Andy Connolly was due to be announced before Christmas only to be held up by remaining due diligence and legal issues. Now, less than a month out from the start of the SSE Airtricity League Premier Division season, the takeover will kick-start a new era for the Stephen Kenny-managed club which had been on the brink of going out of business in 2012 before local businessmen Brown and Connolly stepped in. The pair have invested upwards of €1million each and have now sold all of their shares to their US counterparts. Contact was first made early last year and Peak6, which has a 25 per cent stake in Premier
League side Bournemouth as well as an interest in Serie A giants Roma, are joined in the consortium by figures with links to Swansea City. Manager Stephen Kenny, who led Dundalk to the Europa League group stages in 2016, is also understood to have played a key role in selling the future prospects of the club to the new owners, who are set to confirm former Sheffield United and Derby County managing director Malachy Brannigan in a similar role at Oriel Park. One of the public faces of the new Dundalk regime is American Jordan Gardner, one of minority owners at Swansea who is also now a co-owner of the Louth club. ‘We’ve been following the incredible success of Dundalk FC over the past few seasons and have spent months assessing this opportunity, attending games and getting to know the club,’ he said in a statement. ‘What Stephen Kenny and the players have accomplished under the stewardship of Andy Connolly and Paul Brown is nothing short of remarkable. ‘We are excited to take up the reins and help build on the club’s success. We are confident that with all of us working together there will be many more good days and nights ahead for Dundalk FC,’ he added. Lifelong supporters, Brown and Connolly explained their move: ‘We have been conscious for some time that the pressures of operating our own business, FastFix, and the day-to-day requirments for running a football club were becoming increasingly challenging. ‘We have always said that we would only step down if we found the right kind of owners for the club and in this consortium we believe we have done that.’