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David Sneyd DUNDALK ’S IMMEDIATE FUTURE has been secured but the rescue takeover by local barrister John Temple may not be enough to secure the long-term survival of the League of Ireland club.
The 42 has also learned that the FAI were preparing a statement and a plan of action on the basis that Dundalk went out of existence. Dundalk need strength in numbers given the severity of the debt situation, with €1.5 million required to get out of the red and an estimated total of €3m to put the club on a firmer footing on the path to sustainability.
In the statement confirming Temple’s takeover yesterday, it was explained that he “will lead a consortium of investors who have agreed to underwrite the players’ current wages until the end of the season and will examine the viability of the club and its facilities going forward.” On Monday, Minister for Sport Thomas Byrne also confirmed that a further €500,000 would be forthcoming for upgrade work at Oriel Park as part of their Sports Capital Grant Application, provided the club remained in existence.
The deal that has been struck with Temple means Dundalk will avoid the Small Company Administrative Rescue Process , which would have resulted in a points deduction and certain relegation.
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