FC32 group adds Cobh Ramblers to multi-club sweep

Chairman Bill O’Leary said: “We are proud to partner with FC32, who share our vision for the club’s future.

NEW ERA: FC32 complete an acquisition and operating agreement with Cobh Ramblers. Pic: Eddie O'Hare

Cobh Ramblers have become the latest League of Ireland club absorbed into the multi-club model, with FC32 completing an acquisition and operating agreement.

The press release confirming the news of the First Division club’s takeover lists a stake in Austrian second division club, SKN St. Pölten, but they’ve been linked with Serie A’s US Salernitana 1919 and Swiss second tier club AC Bellinzona.

The investors – led by former Nike executive Paul Francis – were also in talks about assuming ownership of A-League outfit Newcastle Jets. It has been reported that they are seeking an involvement in a stable of seven clubs across the globe.

It’s believed the group scoured the Irish market for an attractive proposition before settling on Cobh, currently eight in the First Division.

Chairman Bill O’Leary has acknowledged in recent years the club’s desire to attract fresh investment.

Waterford, through the Fleetwood Group, and Drogheda United were acquired 12 months ago by Trivela, the US sports investment firm which owns English League Two side Walsall.

Shelbourne had a brief 16-month alliance with Hull City before a falling out with manager Damien Duff led to Irish-based businessman Mickey O’Rourke buying the club back from Acun Ilicali.

According to the release, FC32’s goal is to build on Cobh's 102-year foundation, focusing on the growth of the game and establishing a Senior Women’s team by 2026.

O’Leary said: “We are proud to partner with FC32, who share our vision for the club’s future. The board and our club members are excited and hugely in favour of this potentially transformative deal.

“It recognises our history, our relatively strong operating and financial models and positions us for growth in so many areas into the future.”

FC32, an international group of experienced sports executives, is focused on building a player-first platform through the acquisition of multiple clubs around the world.

They have committed to “investing in world-class operations at St. Colman’s Park, fostering a commitment to development and high performance.”

Paul Francis, founder and CEO of FC32, added: “Our focus is on player development and high performance. We aim to partner with Cobh Ramblers to build a world-class talent pipeline and elevate the club to new heights.”