Rovers agree Desmond deal
By William O'Connor
BILLIONAIRE businessman Dermot Desmond will take a 25 per cent share in Shamrock Rovers Football after members agreed in favour of the investment.
The agreement is said to be worth in the region of €2 million to the Tallaght club.
Shamrock Rovers play out of Tallaght Stadium
In a statement released by the club it said: “Shamrock Rovers Members voted in favour of accepting an investment proposal by Dermot Desmond to become a shareholder in Shamrock Rovers FC.
“Club members gathered at the 2019 AGM in Tallaght Stadium on Saturday where the proposal recommended by the Members’ Board was put to the membership.
“There was an overwhelming vote in support of the proposal which, subject to final sign off by all parties will see Dermot Desmond become a 25 per cent shareholder in Shamrock Rovers FC Ltd”
Mr Desmond is also a shareholder with Scottish giants Glasgow Celtic.
It is understood, Dermot Desmond is interested in supporting Shamrock Rovers’ ambitious plans to further develop the club’s Academy and building on the very strong foundations laid by the club in recent years.
Dermot Desmond
In a statement last month it said: “Mr Desmond confirmed that should he become a shareholder in Rovers that ‘his intention is not in the pursuit of monetary gain and there is no financial or asset play’.”
The statement continued: “Mr Desmond noted that he would expect any positive future cash flow generated to be reinvested in the club such that all stakeholders (including supporters, players, coaching staff, management and sponsors, etc.) will benefit.
“Mr Desmond stated that his sole motivation in considering this investment is to advance the cause of Shamrock Rovers.”
