Dundalk owners sell their stake in Bournemouth

Peak6 sell their 25 per cent stake back to Maxim Demin

 

American investment firm Peak6, which led the consortium that took over Dundalk just over a year ago, has sold its 25 per cent stake in Premier League outfit, Bournemouth. Peak6 sold the shares back to Russian businessman Maxim Demin, from whom the company had originally purchased them back in November 2015.

At the time, it was suggested that the investment, as well as the nomination by Peak6 of two directors to the board of Bournemouth, was just the first step by an American firm anxious to establish a greater presence in the Premier League over the longer term. It was also suggested at the time that the finance they were to provide would enable the club to better compete in the world’s richest football league.

No reason for the sale have been given publicly at this stage and it is unclear whether it is a sign of changing priorities or strategy on the part of Peak6 or something more straightforwardly financial, like profit taking.

Dundalk’s owners had only recently sought to use its connections with Bournemouth to what it saw as the advantage of the League of Ireland club and it appears that this had started to happen with regard to the Irish side’s recent transfer activities.

Chicago-based club chairman, Mike Treacy, did not immediately respond to requests from The Irish Times for clarification on whether the sale of the stake in Bournemouth has any implications for the Oriel Park outfit.

Cork City, meanwhile, have confirmed the signing from Sligo Rovers of defender Gary Boylan.

The 22 year-old, who becomes the latest in a long line of players to leave the Showgrounds for Turner’s Cross in recent years, missed the latter half of last season with a knee ligament injury but says he is only a couple of weeks away from completing his long recovery.

“I’m really close to a full return to play,” he said in a statement issued by the club, “just a couple of weeks away, so I should be ready soon. The first thought is to get fully fit and back to full match sharpness; once I get fit, I can set my own targets then. I think, at this club, you are expected to compete at the top, for leagues and cups, so I am hoping for a very good season.”

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