Cobh Ramblers closing on new investor to replace FC32

Cobh manager Mick McDermott said the process of FC32 handing over ownership of the club to another investor "has been ongoing for a month and I believe will be completed imminently". FC32 took Cobh out of member ownership in October. The club is amid a strong season in the First Division, sitting second behind Dundalk. 

Cobh Ramblers manager Mick McDermott said he hopes to club secures a new investor in the coming days to "give that added stability" to the club. Pic: Michael P Ryan/Sportsfile

Cobh Ramblers are on the verge of securing an investor to replace FC32, the multi-club group which took the Cork club out of member ownership last October.

Fears grew over their sustainability just six months into the regime when FC32 withdrew funding from another club, Austrian outfit SKN St Polten.