Official Takeover Thread

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Official Takeover Thread

Postby Colin Gallagher » Wed Nov 29, 2017 8:17 am

Daniel McDonnell​
November 29 2017 2:30 AM

The American takeover of League of Ireland side Dundalk is on course to be completed this side of Christmas.
Chicago based private equity firm Peak6 are set to take 100pc control if the final details of negotiations can be thrashed out in the coming days.
Peak6 own 25pc of Bournemouth and they have also have an interest in Roma as part of their sporting portfolio.

Dundalk's Europa League exploits put them on their radar and they have been in advanced discussions with the Lilywhites hierarchy with current owners Paul Brown and Andy Connolly set to relinquish control.
Legal representatives from the US side have been carrying out due diligence on the project, and Dundalk's owners have refused to comment on the state of play with talks at a delicate stage. But it's understood that progress has been made and confirmation of a deal is close.

Connolly and Brown steered Dundalk out of a difficult position in 2012 and the appointment of Stephen Kenny was the catalyst for a period of success on the pitch. They have tried to balance running Dundalk in tandem with their business and have consistently made it clear they were open to investors who could take the club to another level.
Dundalk only have two full-time administrative employees and general manager Martin Connolly has been asked to stay on as part of a transition. Peak 6's initial plans involve investment in Oriel Park itself.

They will encounter a changing Irish football climate with talks ongoing between the FAI and clubs over the administration of the league from 2019 onwards.
The Irish Independent has learned that the FAI and clubs have discussed a plan where a new organisation - essentially a partnership between both sides - would take control of affairs.

Consultation talks in Northern Ireland led to the establishment of a new body - the Northern Irish Football League - in 2013 and southern bodies are looking at that model but the respective stakeholders are yet to reach a firm agreement on the path forward.
Meetings between the FAI and the Premier Clubs Alliance (PCA) have been ongoing across the year. A major part of talks has been the governance of the league in the longer term. The FAI have been in full control since 2007 when a merger agreement with the clubs was signed.
But a change is on the cards with the existing agreement up for renewal. The three options on the table were a retention of the status quo with the FAI in charge, the clubs taking over the entire operation, or a partnership between the two parties. The latter option was identified as the preference, although that is by no means a unanimous view, and there is a road to travel to reach agreement on how that might even operate.
It's believed that one potential scenario would involve FAI employees transferring across to work for the new entity. The retention of the new national underage leagues at U19, U17, U15 and eventually U13 level is part of any plan.

Leading figures at First Division clubs have taken issue with the fact that the FAI have been involved in dialogue with the PCA about the direction for the overall league when any decisions would affect them.

In the shorter term, they are seeking clarity about the promotion and relegation situation for 2018 with no certainty yet on how the switch to a ten team top flight will impact on how many teams go up and down. That has annoyed second tier clubs that are working to finalise their budget.
Irish Independent



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Re: Official Takeover Thread

Postby Conroy » Wed Nov 29, 2017 8:30 am

Looks like it's actually happening.

Given the recent history of investors in the LOI I have to admit I'm rather sceptical about this. Have a brief read through some AFC Bournemouth forums to see their thoughts on Peak6 and couldn't really find much, apart from the members sitting on the board wanting to sign big name players.

Any improvement s to Oriel Park are very welcome, and even if it doesn't work out the way we all wish at least we will have an improved facilities if and when the Investors leave. This is something the current owners clearly don't feel is achievable without significant investment.

The club after the euro run I'd assume would be self sustainable for a number of years so I can't imagine too much upheaval on the playing side of things.

SK has indicated already that he does not expect many more signings, this of course is dependant on Davey, Patrick and Robbie staying.

Interesting times ahead!

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 8:54 am

No consultation with fans. Fans are only needed when the chips are down.
Paul and Andy saved the club but does that give them the right to sell it without consulting any fans?
Taking a bit of money for themselves too I believe

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Re: Official Takeover Thread

Postby White Horse » Wed Nov 29, 2017 9:23 am

dundalkfc1903 wrote:No consultation with fans. Fans are only needed when the chips are down.
Paul and Andy saved the club but does that give them the right to sell it without consulting any fans?
Taking a bit of money for themselves too I believe



It is a commercial transaction and the owners are trying to get the best terms and conditions possible. We are not a club owned by fans, so this is what happens.

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Re: Official Takeover Thread

Postby Johnny Guitar » Wed Nov 29, 2017 9:30 am

dundalkfc1903 wrote:No consultation with fans. Fans are only needed when the chips are down.
Paul and Andy saved the club but does that give them the right to sell it without consulting any fans?
Taking a bit of money for themselves too I believe



I agree but at the time of the last takeover there wasnt much appetite for a supporter owned club. Although the trust joined in unison with Andy and Paul when they took over supporter interest in the trust dropped off a cliff as the team was doing well.

I wouldn't begrudge them taking money. Afterall it is their company.
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Re: Official Takeover Thread

Postby White Horse » Wed Nov 29, 2017 9:40 am

Johnny Guitar wrote:
I wouldn't begrudge them taking money. Afterall it is their company.


And they gave us an unbelievable 5 years. They deserve a statue.

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Re: Official Takeover Thread

Postby DundalkChampions » Wed Nov 29, 2017 9:49 am

dundalkfc1903 wrote:No consultation with fans. Fans are only needed when the chips are down.
Paul and Andy saved the club but does that give them the right to sell it without consulting any fans?
Taking a bit of money for themselves too I believe


The fans (us) dont own the club so we dont have a say in how its sold! You think any of the top football clubs listened to fans before selling to foreign investors?

Of course they are taking money for themselves, They deserve every penny they take!

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 10:00 am

I hope like everyone else that this turns out to be the best thing that has ever happened Dundalk FC.

At the other end of the spectrum Peak6 may make no money out of us, they pull the plug 5 years down the line, Dundalk FC no longer exists, our wonderful records and history goes with it.

A new club rises from the ashes but it would never be the same. History repeats itself. It has happened to many clubs, and can happen to us.

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 10:08 am

DundalkChampions wrote:
The fans (us) dont own the club so we dont have a say in how its sold! You think any of the top football clubs listened to fans before selling to foreign investors?

Of course they are taking money for themselves, They deserve every penny they take!


Yes and look at the level of disillusionment from long time supporters of UK clubs with foreign owners, who come in, try to change everything from the name of the club to the colour of the jerseys, who sack managers after 5 games, sign players without consultation of the manager etc. etc.

You say they deserve every penny, so whatever they want to take is fine? You have no ceiling as to how much is acceptable to you? €1, 100k, 1m, 2m, 5m?

We of course don't own Dundalk FC, but without fans football doesn't exist. Cork fans have warned us to go in with our eyes open, but how can we when the club will be sold with no information available to anyone except 3/4 people.

Surely the questions have to be asked, and it is reasonable to do so.

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 10:13 am

White Horse wrote:
Johnny Guitar wrote:
I wouldn't begrudge them taking money. Afterall it is their company.


And they gave us an unbelievable 5 years. They deserve a statue.


Well a statue would be cheaper.
They have given us a wonderful few years. The are passionate owners. They hang bunting and fly flags themselves. They made one of the greatest managerial appointments.
But once they relinquish control, that passion is gone. It becomes purely a business. Run by people with no knowledge or passion for Dundalk FC, its fans, its history, Dundalk town and the people of Dundalk.

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Re: Official Takeover Thread

Postby Johnny Guitar » Wed Nov 29, 2017 10:18 am

It does and my opinion is probably there are better options out there than an investment/vulture fund.

I think the lads return is irrelevant though. It's the bona fides of the new guys.

Supporters had an unbelievable opportunity nearly 5 years ago to co own with them. There was little or no appetite for it.
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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 10:18 am

White Horse wrote:
dundalkfc1903 wrote:No consultation with fans. Fans are only needed when the chips are down.
Paul and Andy saved the club but does that give them the right to sell it without consulting any fans?
Taking a bit of money for themselves too I believe



It is a commercial transaction and the owners are trying to get the best terms and conditions possible. We are not a club owned by fans, so this is what happens.


If you view this as purely a commercial transaction, then we disagree on the very nature of what a local football club is. This is not the local coffee shop being taken over by Costa or Starbucks. Football clubs have a soul, history and a connection with the area.
Although I have no doubt the new owners view it in your terms.

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Re: Official Takeover Thread

Postby Ezeikial » Wed Nov 29, 2017 10:19 am

I am alarmed by the reaction here so far. Only Conroy and dundalkfc1903 raise any scepticism about something we know next to nothing about.
Ezeikial posts personal opinions and observations from this supporters perspective.

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Re: Official Takeover Thread

Postby dundalkfc1903 » Wed Nov 29, 2017 10:22 am

How would people feel in 5 years time if everything in the current county museum display became confined to the history books of the 'former' Dundalk FC?

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Re: Official Takeover Thread

Postby White Horse » Wed Nov 29, 2017 10:24 am

dundalkfc1903 wrote:But once they relinquish control, that passion is gone. It becomes purely a business. Run by people with no knowledge or passion for Dundalk FC, its fans, its history, Dundalk town and the people of Dundalk.


Like yourself probably, I have seen a lot of bad days (and years) in Oriel Park. Having a couple of astute fans owning the club provides a great sense of security.

I would much rather they sold a stake in the club to fans in order to raise the additional capital to redevelop Oriel Park. Given the passion that has been reawakened in the club, I think that this is an option that does not appear to have been fully considered.

I do not greet the prospect of foreign owners with any sense of enthusiasm. Afterall, players, managers, owners move on. I go to games with my father, and my son. Three generations of support, following on from other generations in the past.

Owners are custodians of a heritage, a heritage that must be preserved for future generations.


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