American soccer investor eyes up Dundalk FC takeover as financial woes continue

An American soccer investor who worked with former Dundalk FC boss Filippo Giovagnoli is reportedly the leading voice in a takeover bid for the cash-strapped club.

Dundalk confirmed this week that the football club was struggling financially, with current owner Brian Ainscough saying that he was "actively seeking investment" after earlier failure to secure the support of investors he had lined up.

Ainscough posted a statement on the club website on Monday, confirming the dire financial situation at the club. Ainscough looks to be on the way out, just ten months after taking control in Louth.

He wrote: “I am working hard to keep it going but my immediate concern now is that the club can carry on for the remainder of the season.

“I am actively seeking investment and I am exploring all possibilities about the ownership of the club to ensure that happens. I will continue to speak to any interested parties and I remain fully positive that we can secure the injection of cash that we need to keep us going.”

Dundalk’s debt situation, which is currently over seven figures, is certainly proving to be a hurdle in securing this much-needed investment.

Jeffrey Saunders, a former footballer turned businessman, has previous with Dundalk after helping then-owners Peak6 with the shock appointment of Giovagnoli in 2020.

Saunders is the man behind the Metropolitan Oval Academy in New York, where Giovagnoli was employed when Dundalk came calling. The unknown Italian brought Dundalk to the Europa League group stages and presided over an FAI Cup success but things turned sour in the 2021 season and he departed with his lack of a pro licence a major complication.

Saunders has expanded on his football interests in the intervening period, establishing an investment group intending to create a multi-club network in Europe.

The Independent have reported that the American investor is now spearheading a group to take over Dundalk FC, having been in contact with stakeholders around Irish football to see what the options are.

Dundalk are in a perilous situation, with manager Jon Daly admitting last week that wages to players and staff were late. Advanced payments from the FAI are expected to cover the club short term, but it is yet to be seen if the club can meet commitments until the end of the season.

A GoFundMe page was set up by supported to raise money for the club, and has raised over €15,000 this week.

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