Drogheda United taken out of examinership

Drogheda United is now out of examinership following the High Court's stamp of approval this afternoon.

Kieran McCarthy was appointed as examiner in October by the court after it was accepted that the company had a reasonable prospect of survival.

The court had heard that Drogheda United was more than €700,000 in debt, but the club and its supporters raised €300,000 in a bid to rescue it.

Today's development has been described as an important step in securing the future of the club.

Many supporters turned up for today’s hearing. Afterwards, an emotional Vincent Hoey, who is chairman of the club, paid tribute to the huge efforts of supporters in Drogheda and the entire region.