SOCCER:Drogheda United have been taken out of examinership by the High Court and are free to pursue a league licence for the forthcoming season.
A €316,000 financial arrangement, borne out of funds raised by the club’s fans and proposed by examiner Kieran McCarthy, was approved by Ms Justice Mary Finlay Geoghegan.
The ruling means the 2007 league champions can now apply for a Premier Division licence but it does not guarantee either their future or participation in the top flight.
Speaking outside the court this afternoon, an emotional club chairman Vincent Hoey praised the wider Drogheda community for their support.
“We have been in existence since 1919 and they weren’t going to let it go down. And they haven’t,” he said. “I am proud today to be associated with that.
“Everybody owns a bit of Drogheda United now. All the people have shown that it is their club, a community asset, a community institution.”
The deadline for licence applications is Monday and clubs will not discover their fate until mid-February. They will then have time to appeal, if necessary, before the league kicks off on March 6th.
Today's news also means the club can now begin its search for a new manager after Paul Doolin left for Cork City earlier this month.
Complications in planning for a new 10,000-seater stadium on a site south of Drogheda at Bryanstown contributed to a club deficit of over €732,000, with €535,506 in PAYE and PRSI payments owed to the Revenue Commissioners.
