Usher takes over Cork City
Cork City FC has now been taken over by Leinster businessman Dermot Usher following a vote at a Special General Meeting held at the Clayton Hotel yesterday afternoon.
FORAS (Friends of the Rebel Army Society) members voted in favour of a takeover by Usher with 86% of voters in favour of the move. Members of FORAS were able to ask Usher questions before the vote yesterday, which included manual votes in person, along with posted and emailed votes.
Dublin-born Usher previously owned the Irish bathroom company, Sonas Bathrooms, growing the business to in excess of €40 million in revenues per annum. He sold the company in 2021.
Recently on a podcast, he said he is willing to fund the club with up to €850,000 in his first season if needed, He then aims to decrease his commitment over time through increased revenues.
Cork City won the SSE Airtricity First Division title in Ocotber after a great campaign, meaning they will play in the Premier Division next year.
The board had predicted that under the current system, a relegation battle would be likely next season as they predict only a marginal increase in the playing budget for the first-team, with costs likely to increase with the introduction of a minimum wage for players.
Now, Usher has said he aims for the club to achieve qualification to a European competition in the coming seasons.
Currently the club have only two players under contract for next year: club captain Cian Coleman and striker Cian Murphy with Colin Healy staying on as manager.
Usher said he wants to maintain involvement with FORAS members through annual meetings and quarterly gathering with the Board of Management.
Cork City had been fan owned since 2009. Now Bohemians and Sligo Rovers are the only fully-owned member clubs in the top flight.