Shelbourne have secured ‘significant new investment’ in the hope of turning the club into a Premier Division force for the long term.
The announcement is also timely after Friday’s revelation that the Drumcondra club wants to buy Tolka Park from Dublin City Council.
And the club’s women’s teams will also feel the benefits of the coffers boost which is believed to be a seven-figure sum..
A financial injection for Shels had been rumoured since Damien Duff’s high-profile appointment as manager in November.
And Shelbourne have today confirmed a ‘significant equity investment from Closebreak Ltd.”
A club statement read: “Closebreak shareholders include existing US based Board member Chris Farrell, leading Irish businessman Joe Devine and a group of prominent American professionals working in finance, media and law.
“These include Steve Silver and Gavin Baiera, who are both Senior Managing Directors with Centerbridge Partners, L.P. and Justin Breen, Head of Leverage Finance at Proskauer Rose.
“As a result of the investment Joe Devine has joined the Board and Gavin Baiera becomes a Board Observer.
“The investment will support the achievement of Shelbourne’s strategic vision and the implementation of our five-year plan.”
Shelbourne chairman Andrew Doyle said: “This is a very welcome investment which brings finance and new skill sets to Shels.
“It validates the ambitious plans we have set out for the Club.
“Our goal is to have a positive impact on Irish football, in both sporting and social terms and we are making good progress.”
Shels chief executive David O’Connor said: “Being able to introduce business people of this calibre is a tangible example of the changes we are driving at Shels.
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