It has been an international window in more ways than one in the SSE Airtricity League of Ireland with both treaty United and Drogheda United confirming financial takeovers from Canada and the United States respectively.
In Limerick the welcome mat will be rolled out for Vancouver based Tricorps Pacific Capital and possibly the world’s first Player-CEO Ciara McCormack.
The Yale Graduate in Sports Management joined the club at the start of this season and has eight caps for the Republic of Ireland qualifying though her Grandparents.
“As someone who was given an opportunity to represent the Republic of Ireland internationally, I couldn’t be more grateful to give back and build something special for the next generation of players in the country,” said McCormack.
“With deep gratitude and acknowledgement for the immense work that’s been done by the volunteers and board of the club in the last three years, combined with my partners from Tricorps Pacific Capital, I am delighted, proud and excited to advance Treaty United FC forward both as a football club and as a key contributing member of the Limerick Community.
“We aspire to be a club that everyone in the Mid-West can be excited to be a part of and get behind.”
Tricorps is a family owned investment business with a history of investment in companies ranging from construction and real estate to food and self-storage. It has traditionally focused on Canada and the Western United States with the club an outlier in the portfolio in more ways than one.
That said they are well funded and we will look to determine the motivation behind the purchase over the coming weeks and months.
That was Thursday, then on friday Drogheda United confirmed that the board had accepted an offer from Trivela Group, a Football Investment Firm who also own Walsall FC in the English League.
They have less history than Tricorps but have been created by executives with experience in Nike and in major League Soccer in the US.
Writing on Linkedin last night, Drogheda Director Conor Hoey, whose family have been involved in the club for more than 50 years wrote:
“This was not an easy decision. For 104 years the club has been owned by local people – individuals, groups of individuals and most recently by a large group of members. In looking for investors more widely, were we betraying our forefathers and all the people who kept the club alive in good times and bad? This is certainly the hardest decision I have ever taken in business, but I know it is the right one. The financials of our club were stark – the smallest budget in the league and yet still losing money. However, I knew the potential was there for a sustainable and profitable business – I just needed to convince someone with capital and vision that Drogheda United, and the town of Drogheda, were an attractive investment.
Well, one year on and finally we have reached the end zone. I say end zone, because have spoken to potential investors from Drogheda to Dubai to Guangzhou, we have finally done a deal with Trivela Group, a Football Investment firm based in Birmingham, Alabama, USA.”
“In speaking to such a range of potential investors, the team from Trivela really stood out for their openness, respect and level of engagement. Having spent every evening for the last 10 months engaging with them, I now count them all as friends rather than investors.”
“Sometimes, you can just tell early on that a deal is going to work. From my first engagement with Wesley Hill, the VP of Strategy at Trivela, I knew we could work together. I went back to the Board of the club after that first call feeling a bit like the boy who cried wolf after a couple of false dawns. But over the next few months, through in-person engagement, and ongoing zooms and phone calls, my initial sentiments were proved right. Now, everyone around the club who has engaged with the Trivela team is totally convinced that they are the right owners to lead the club to a brighter future.”
“Whilst there is a financial aspect to every M&A transaction, the team from Trivela were genuinely interested in community, the history of the club, player development and most importantly, a new stadium and training facilities. Their timeline outlook is 20 years not 3. Of course, they are investors who seek a return, but they believe that the League of Ireland is on the cusp of significant growth and that Drogheda, given the regional demographics is well placed to have a leading club in the country.”
“The Members of the Club will, I hope, vote in favour of the Trivela proposal next month. Thereafter, we can embark on a new era for the club – after 104 years, we now move to a bright new future leading to a community-oriented professional football club for future generations of Drogheda United supporters.”
“And that is why people like all the volunteers at Drogheda United and at so many other sporting and charitable bodies get involved in community-related projects outside of work. It’s about doing something for others, to protect an institution that means something to people. Like so many people, what I’ve done at Drogheda United hasn’t earned me one cent (it’s cost me a few!) but it’s the most important work I’ve ever done outside of family, because it actually makes a positive impact on people’s lives.”
“The work of those who volunteer at charities, whether it be animal rescue, vulnerable adults, helping the homeless or any other worthy cause, is often so impactful. They are the people who help us function as a good society and community. Without them, we would be soulless.”
“Even under new ownership, that volunteer aspect will continue to be critical to the functioning of the club and Trivela have reiterated this to everyone consistently. Together our challenge is to build a model that combines professionalisation whilst not losing the soul of the club – if we achieve this, we will have something that will be a real source of pride in our local community.”
The League of Ireland has never been so wealthy in terms of investment. There are those who point to previous false dawns and troubled overseas investment and say nothing good will come of it but every dream flies highest on hope with the right level of support.
Why can’t the League step up with investment in facilities to become a domestic highlight for the sport that claims more fans here than any other but for whom their allegiance is largely to overseas clubs.
We will be speaking to both clubs in the coming weeks to find out more but what is sport without optimism that this will be a good thing for the League and the sport.
