Decision time looms for City over takeover deal 

THE times are changing in the League of Ireland and next month Cork City will have a decision to make when FORAS members vote on a potential sale to Mr Dermot Usher.

The businessman, who once ran SONAS Bathrooms, had a bid provisionally accepted to take over the First Division champions by the club's Board of Management and shareholder will now vote on this motion at a special meeting on December 4th.

This is all happening as they prepare for life back in the topflight of Irish football, something the Rebel Army had to last deal with in 2011.

That was a different time and a different era for the league. Back then, fan ownership was beginning to be accepted as the ideal form of governance and Shamrock Rovers; on the back of two successive league titles and qualification to the group stages of the Europa League, were living proof of this. 

This was followed by Galway United, Cobh Ramblers, and Drogheda United all moving to some system of supporter ownership.

Clubs are now moving away from this model in a bid to remain compatible in hyper-professional League of Ireland.

Earlier this year members of Galway United voted in favour of a takeover by billionaire property developers Comer Brothers.

The club, under the leadership of John Caulfield, are now hoping to challenge for the First Division title next season with a full-time squad.

That was followed by Conor Hoey, chairperson of Drogheda United, telling the Irish Independent that the club needs investment so they can remain competitive.

“We’ve a choice as a club to make,” he said. 

“Are we happy to be a semi-professional club that will ultimately end up in the First Division? 

"Whether we hold on as part-time for another year, we know something has to give. We have two options; stay as the nice little lovely club we are, or bring in external investors. 

"If we want to go professional, we need to bring in external money. I think the time is right.” 

This comes at the time when Shamrock Rovers, who’s members sold 25% of the club to billionaire Dermot Desmond in 2019, are celebrating their third successive league title and qualification the group stages of this year's Europa Conference League. 

Derry City, whose chairman is billionaire Philip O'Doherty, just lifted the FAI Cup and they now have the league trophy in their sights.

They are now expected to be the dominant teams in the country, a duopoly previously held by Cork City and Dundalk during the late 2010s.

Cup finalists Shelbourne are also in advanced investment talks with the owners of Premier League side Southampton.

It isn't just Shamrock Rovers and Derry City that have attracted investment. 

Waterford have just been taken over by Andy Piley, the owner of Fleetwood Town, and they are aiming for promotion in 2023.

Cork City know what is happening around the league, and that the Rebel Army have made no secret of their need for capital ahead of the new season.

"Based on a review of the economic conditions and investment into other clubs within the League of Ireland, the Board of Management believes that if Cork City FC is to compete regularly for trophies at the top end of Irish football and reach its full potential, that we have little choice but to explore the possibility of securing outside investment from the right person(s),” a club statement said in October 2022.

While the club looks for investors, club chairman Declan Carey knows that they are a hot prospect.

"There’s definitely an appetite to invest in a club of our size. I see investment in clubs that I would deem smaller such as Shelbourne and Waterford and think Cork City presents a bigger opportunity. 

"We’ll sit only down with any serious parties, not tyre-kickers," he recently told the Irish Examiner.

"We’re not looking for a flash in the pan investor who just wants Champions League qualification within two years. Long-term growth and community presence are our goals."

That leads him, the Board of Management, and everyone else associated with Cork City to Mr Dermot Usher.

Should members vote for this takeover, Mr Usher would assume sole ownership of the club, though FORAS would receive a sum of money that would allow it to continue in its role as guardians of the club.

He wants to transform the club by appointing a full-time marketing executive and director of football, while working with Munster Football Association on developing Turner’s Cross Stadium. 

Mr Usher also wants the club to target European football in 2023, something last achieved by the Rebel Army in 2018.

City clearly have a wide view of the current conditions in the League of Ireland, and they want to evolve to meet the challenges that this will present.