US consortium remains keen on Cork City despite takeover rebuff

Shane Lohman, who is fronting the Monarch Sports Partners group interested in buying the club said, 'Cork City has the most untapped potential in the LOI'

Monarch Sports Partners' €3.75m bid for Cork City was rejected by the current owners. Pic: Stephen McCarthy/Sportsfile

A US-based consortium insists it is determined to pursue a takeover bid for Cork City despite being so far rebuffed.

The newly promoted club has been majority-owned by Dermot Usher since the start of 2023, with David Cronin acquiring a 20% stake in late 2024.

Combined, their personal investment to date is understood to be around €4m.

Still, the yo-yo existence between the Premier and First Division for the men’s team and perennial struggles of the women’s side at the foot of the table indicate extra funds would be welcome.

Leading the interest is LA-based Shane Lohman.

He is fronting the Monarch Sports Partners group which began their surveying the League of Ireland market in early summer.

It’s believed they held exploratory discussions with a representative of Cork City before escalating their quest into a formal letter of intent.

That was submitted three weeks ago – offering a figure of €3.75m – but this wasn’t entertained.

Lohman, whose business background is in the brewing industry, says he is backed by individual and institutional investors based in the US and Europe.

Some of these, he added, have experience of acquiring and owning sports clubs around the world.

“Cork City has the most untapped potential in the LOI,” Lohman told the Irish Examiner.

“We feel strongly that, with our resources and expertise, this should be among the most successful clubs in the country on a consistent basis.” 

According to Lohman, their proposal included the option for the current owners to remain in a minority capacity while also reestablishing a shareholding for fans.

FORAS (Friends of the Rebel Army Society) had rescued City from financial oblivion in 2010, operating the club as a trust until Usher’s takeover pitch was carried by an 86% majority of members.

Cork City have declined to comment but it’s understood their position is that no substantive approach worth considering has been received.

Meanwhile, the latest controversy on the Limerick League of Ireland scene stems from a dispute over ownership of the club that previously represented the county.

Pat O’Sullivan’s stewardship of Limerick FC continued beyond 2019 despite that marking the end of their senior LOI existence, 10 years after he’d rescued his local club.

Underage teams remained in the U15 and U17 leagues but, according to a statement issued in July 2025, new custodians, led by local junior club Carew Park, took ownership.

They bore the costs of the teams completing the season but an agreement, brokered with the FAI’s blessing, resulted in their withdrawal from the LOI underage circuit midway through this season.

That was with the unified intention of establishing Treaty United as the sole LOI club in Limerick.

The Irish Examiner understands that a few outstanding issues had to be addressed before Limerick FC would allow full naming rights to be transferred to Treaty United.

The club, controlled by Canadian-based investors Tricor, on Monday morning expressed their delight “that all necessary formalities and approvals have now been completed in relation to the agreement announced in June to acquire the intellectual property associated with Limerick FC and adopt the historic Limerick FC name from next season.

“The club would like to recognise and thank Pat O’Sullivan for his significant contribution...and, in particular, his willingness to transfer the Limerick FC identity as part of a shared vision for a more united future for the game in the city and region.” 

Not so, according to Limerick FC. They promptly reacted with an emphatic denial.

“The statement issued today is not true,” they said.

“The ownership of Limerick FC, its name and intellectual property is currently the subject of an internal ownership issue.

“Our position is clear: any purported deal entered into a third party concerning the Limerick FC name or intellectual property while the dispute remains unresolved is invalid.

“Any unauthorised attempt to use the Limerick FC name, crest or intellectual property will result in an application to the High Court for an injunction.”