Galway United in talks with overseas investor
Investor is interested in bringing foreign players in with a view to selling them on
Galway United are in talks with an overseas investor about a possible takeover of the club or sale of a major stake. Photo: Inpho
Galway United are in talks with an overseas investor about a possible takeover of the club or sale of a major stake. Contact has been ongoing between the parties for two months now.
The unnamed investor has visited Galway and club officials, who decline to name him, say that he was impressed with both the club and the city. Talks have continued since then and the two sides are exploring what the best way to progress the situation might be.
The investment could involve a restructuring of the club as the outside money is only likely to be put into the senior team and related activities. The investor is, apparently, interested in bringing foreign players in with a view to selling them on.
“He’s looking for a shortcut to Europe and to blood players,” said club secretary Mike Daly, who confirmed that the approach had been received. “No monetary value has been put on the who thing so far and the talks are ongoing but we were approached about six or eight weeks ago and it has advanced a little bit since then.”
Asked if he and the rest of the club’s board are concerned by events at Athlone Town since they accepted outside investment, Daly said that they were well aware of the potential risks and that the club is “doing its homework”.
“We won’t be getting into anything,” he said, “unless the board are entirely happy with the people involved and the proposals. We will be doing our homework and the Comers, who are major investors in the club through their sponsorship, will be doing their own research into it.
“We are well aware of our responsibilities to the club or its supporters and we have the Michael D consideration to think about too.”