Cork City Football Club have announced they have formally accepted a takeover bid from Mr Dermot Usher to purchase the club in its 'entirety'.
The club have been working through a period of due diligence but that has been completed and the acceptance of the offer is now subject to the approval of the shareholders of the Friends of the Rebel Army (FORAS) Society.
They will hold a vote at Special General Meeting on Sunday, December 4 with a simple majority in favour needed for the vote to pass with the Cork City board not considering any additional approaches in the meantime.
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Dubliner Usher, who stepped down as CEO of family business SONAS Bathrooms as part of a buyout of the company in recent years, had previously been looking at Dundalk as a possible investment project.
A Cork City statement read: ""The board will be unanimously supporting a vote in favour of the sale, in what we believe could be an exciting next chapter in the history of Cork City FC."
Chairman Declan Carey advocated for the sale and added: "He is passionate about the League of Ireland but critically he has the business knowledge, experience and personal wealth to back up his ambitions for our football club."
Usher himself said: "Since I sold my business in 2021 I have been looking to contribute more to football in this country.
"I just hope they will now give me the chance to bring the club to the next level."
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