A meeting was held today with the members of Shamrock Rovers Members Club (the “Members Club”) where information was shared regarding a proposed change in club shareholding which would see Mr. Dermot Desmond become a 25% shareholder in Shamrock Rovers F.C. Limited (“Shamrock Rovers”).
The board of directors of the Members Club outlined to the members the proposals that have been developed in recent months in conjunction with its co-shareholder in Shamrock Rovers, Mr. Ray Wilson.
Shamrock Rovers has evolved from being a members’ owned entity in 2005 to a hybrid model in 2016 when a partnership structure was developed with Mr. Ray Wilson. This proposal is the latest potential evolution in the hybrid model of fan ownership combined with private ownership and is a structure that the board of directors of the Members Club feel is a long term sustainable model that will propel Shamrock Rovers forward on and off the pitch.
In a note to club members, Mr. Desmond confirmed that should he become a shareholder in Shamrock Rovers his intention is not in pursuit of monetary gain and there is no financial or asset play. Mr. Desmond noted that he would expect any positive future cash flow generated to be reinvested in the club such that all stakeholders (including supporters, players, coaching staff, management and sponsors etc.) will benefit. Mr. Desmond stated that his sole motivation in considering this investment is to advance the cause of Shamrock Rovers.
Mr. Desmond is especially interested in supporting Shamrock Rovers’ ambitious plans to further develop the club’s Academy and building on the very strong foundations laid by the club in recent years. Mr. Desmond sees any involvement with Shamrock Rovers as being more akin to a trustee than a shareholder. He believes that the proposed investment would put the club on a sound financial footing, providing stability to allow the long term benefits of the club’s Academy plan to bear fruit and to afford Shamrock Rovers the continued opportunity to credibly pursue success on the pitch.
Mr. Desmond’s note concluded by informing the members that he would be delighted to become a shareholder in Shamrock Rovers and help support a great club with a rich tradition.
The Members Club will consider the information provided today and shortly convene a general meeting to formally vote on accepting or rejecting the proposals.
Should the proposals be accepted by the membership, the new ownership structure of Shamrock Rovers will be made up of the Members Club (50%), Mr. Ray Wilson (25%) and Mr. Dermot Desmond (25%).
There will be no further comment by any party involved in the discussions until after the general meeting.