Shelbourne set for €1 million windfall in new investment deal

A general view of Tolka Park.

SHELBOURNE ARE SET for a minimum €1 million windfall in a fresh investment deal that is close to being finalised.

The 42 understands that a Dublin businessman has been in negotiations about acquiring a minority stake in the League of Ireland club with an initial seven-figure sum.

It would be the latest change to the boardroom structure since Turkish millionaire Acun Ilicali opted to relinquish his ownership and hand control to Mickey O’Rourke in November of last year.

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The Premier Sports founder has been the majority shareholder since Ilicali agreed to hand back the club in a clean break that did not require O’Rourke or the other minority shareholders to pay back any of the initial investment that had been put forward for a 60% stake in June 2023.

It’s understood that Ilicali wrote off a substantial six-figure amount that he had fronted up as part of what was due to be a €3m injection of capital over a period of time.

Shels cited their “strategic vision and the implementation of our five-year plan” when O’Rourke assumed a majority share along with Irish and US-based investors holding minority stakes.

While the club remained silent when approached for comment by The 42 today, this latest seven-figure investment will provide a huge boost.

Shels are seeking to maintain their place at the top of the men’s League of Ireland Premier Division under manager Damien Duff as well backing the Women’s League of Ireland side that are currently second in the table, with further strengthening of their academy structures also planned.

Next week is also likely to herald the beginning of a new era in Drumcondra at a meeting of Dublin City Council on Monday.

DCC’s North Central Area Committee has already given the green light for a 250-year lease to be given to the club for Tolka Park with a full vote now required to allow for the redevelopment of the ground as part of a regeneration project in the area.