Dundalk FC in advanced talks for rescue takeover

RESCUE TALKS: Dundalk’s owner Brian Ainscough is in advanced talks with a potential buyer to rescue the club – a takeover that could avoid a points deduction. Picture: Ben McShane/Sportsfile

Dundalk’s owner Brian Ainscough is in advanced talks with a potential buyer to rescue the club – a takeover that could avoid a points deduction.

Efforts by the Boston-based Dubliner to offload the Premier Division’s bottom side have been ongoing for weeks with delayed wages and fears of imminent liquidation arose over the weekend.

Meetings scheduled for Monday morning with prospective parties, however, proved fruitful, and negotiations have been entered into on an exclusive basis with a sole consortium.

That entity is led by Americans but includes an element of Irish involvement with a Louth businessman.

Preliminary discussions intensified in the last few hours to the point that a deal could be brokered to ensure a handover this week.

Players Union chief Stephen McGuinness had warned delegates during last Saturday’s AGM about the absence of wages from this week.

As the club is carrying debts of around €1m, it was felt the only avenue open to newcomers was entering the SCARP (Small Company Administrative Rescue Process) to achieve a haircut to creditors.

That would trigger an automatic points deduction, thereby ending the club’s 15-year Premier Division existence.

Now there’s a possibility of the relegation battle being fought on the pitch.

A clean takeover, maintaining the business as a going concern, would not only avoid that sanction but the chaos of receivership throwing the league table into a tailspin for others from expunged points.

The Lilywhites, who have won five league titles, three FAI Cups and reached the Europa League group stages twice in the last decade, are a point adrift of Drogheda United in the playoff position, with a game fewer to play.

Jon Daly’s side will have five matches remaining after Saturday’s trip to Sligo Rovers, the last of them a Louth derby against Drogs on Friday, November 1.

Fans concerned about the club’s being put out of business after 121 years are gathering at Oriel Park in solidarity at their plight but can be relieved by a stay of execution.

Ainscough had earlier allayed fears of an immediate cessation of business.

“There will be no liquidation today,” he said. “I’ve been close to deals previously and it hasn’t happened so we’ll see how it goes but I’m still fighting the fight to make sure there’s a club for everyone going forward.”