League of Ireland giants Dundalk FC have been granted a stay of execution after avoiding immediate liquidation. While talks with US-based businessman Jeff Saunders fell through, at least two parties, including a wealthy local businessperson and a European-based group, are now in negotiations to rescue the club.
League of Ireland giants Dundalk will fight another day - as the threat of liquidation has been lifted for now.This was after weekend talks with prospective buyer, US-based businessman Jeff Saunders, ended without a deal.READ MORE: D-Day for Dundalk FC: When plug could be pulled, club debt, money needed to get to end of season & how table would look with results expunged
This is a 45-day mini-examinership process established for insolvent companies, with a staff count of less than 50 and a turnover of under €5 million. The financial situation at the club was dire enough to put off previous prospective buyers, such as Saunders.
Dundalk FC League Of Ireland Liquidation Buyers Financial Crisis
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