Dundalk's takeover complete
Dundalk FC are in line for a massive revamp, on a scale never seen in the League of Ireland, after the takeover of the club by a US consortium was completed.
Talks on the takeover have been going on for months but the American group managed to get the deal done, Dundalk now under new ownership a month out from the start of the new season.
Dundalk confirmed last night that Peak6, who also have a stake in English Premier League side Bournemouth and Italian side Roma, are now the outright owners of the club, as Andy Connolly and Paul Brown sold their stake.
Peak6 have big plans for the club, with a massive injection not only in the first team but a plan to completely rebuild their dated home of Oriel Park.
'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," Peak6 spokesman Jordan Gardner said.
'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."
What has attracted the US group to the League of Ireland is the potential earnings in European football.
Dundalk earned almost €7m in UEFA payments in the 2016 season, and it's that level of potential and not the €100,000 on offer for winning the league, or the lack of proper payments for clubs in TV rights, which attracted the new owners.
The previous owners have backed the move.
"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," said Brown.