Soccer

Dundalk FC saved from liquidation after consortium agrees 80% purchase

The consortium is led by barrister John Temple, who hails from Dundalk

John Temple and the Silverlake Ireland firm have agreed to purchase an 80 per cent share of Dundalk FC from Brian Ainscough. Photograph: Ciaran Culligan/Inpho
John Temple and the Silverlake Ireland firm have agreed to purchase an 80 per cent share of Dundalk FC from Brian Ainscough. Photograph: Ciaran Culligan/Inpho
Gavin Cummiskey
Tue Sept 17 2024 - 18:39

Dundalk FC has been saved from liquidation by a “consortium of investors”, led by local barrister John Temple, agreeing to buy the club from Brian Ainscough.

Since Ainscough took over in December of last year the Boston-based businessman has failed to attract enough investment to handle a growing debt, leading to staff and player wages not being paid this month.

The FAI warned that Dundalk, established in 1903, could go out of business, until Temple came to the club’s rescue.

“John Temple, who hails from Avenue Road in Dundalk, will lead a consortium of investors who have agreed to underwrite the players’ current wages until the end of the season and will examine the viability of the club and its facilities going forward,” read a club statement on Tuesday evening.

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About 20 per cent of the club will reportedly remain in the hands of four investors that Ainscough brought into the club.

“Dundalk is a football town and the club is hugely important to all the staff, players and supporters,” said Temple. “We appreciate the concerns raised by all of our supporters in recent weeks and it has underscored what the club means to every one of them.”

Despite being bottom of the Premier Division table with only six matches remaining, Temple immediately gave his full support to manager Jon Daly, who has been in charge for just 15 games.

“We are fully supportive of Jon Daly and the team to get the results required on the pitch,” said Temple. “I am more concerned right now about getting the off-field matters sorted.”

Temple and Silverlane Investments were unsuccessful in their attempt to buy Dundalk last year, with former co-owners Andy Connolly and Stats Sport pair Alan Clarke and Sean O’Connor believing that Ainscough was “the man to bring the club forward.”

Silverlane stated last year: “We have a vision - to develop the club and its facilities to a central hub of activity, at the heart of the community, and to lead us back to becoming an unparalleled football club both on and off the pitch. We want to bring the club to a Uefa category four venue in an effort to compete with Tallaght Stadium for both national and European games.”

Bringing Oriel Park up to the minimal Uefa standard will require sustained investment, although on Monday the Minister of State for Sport Thomas Byrne confirmed a grant of €500,000 for floodlights and pitch repairs.

Temple described this as “the silver lining for today’s takeover announcement.”

“A new board of directors will be appointed in the coming weeks,” he added, “and a meeting will take place with staff and players in the next week when everything is finalised.

“Today is a proud day for all associated with Dundalk Football Club.”

If needed, the FAI can advance Uefa solidarity money of about €72,000 to help with expenses at the club, after revealing that Ainscough did not undergo the necessary financial checks before the takeover.

“The reward of the licence was granted in November 2023,” said David Courell, the interim FAI chief executive last weekend. “The club changed hands after that in December 2023, as a result the financial checks were done on the previous ownership.

“Lessons will be taken away from this process that any future transfer of ownership that loophole will be closed.”

Stephen McGuinness, the general secretary of the Professional Footballers’ Association of Ireland, has called for an inquiry.

For now at least, Dundalk has staved off extinction, which allows the focus switch to the battle to avoid relegation. It has been a miserable season at Oriel, with Stephen O’Donnell sacked as manager following a winless eight-game start to the campaign.

Ainscough hired Noel King as his replacement but the former Republic of Ireland caretaker manager stepped down after just 25 days, citing “medical reasons.”

Dundalk eventually recruited Daly, who revealed that players and staff had not been paid following a 2-1 loss to St Pat’s on September 5th left the Lilywhites bottom of the table.

Survival in the Premier Division could come down to last game of the season, the Louth derby away to Drogheda United on November 1st, as Dundalk are currently one point behind the Drogs.

Gavin Cummiskey

Gavin Cummiskey

Gavin Cummiskey is The Irish Times' Soccer Correspondent