League of Ireland club could be taken over by Saudi Arabian investors
Galway United is set to be taken over by Saudi Arabian investors, according to reports.
According to a notice posted on the official Galway United FC website, an Extraordinary General Meeting has been called where the only matter up for discussion is "to seek approval on a third party investment in Galway United.
The statement reads as follows.
"Notice is hereby given that a Special General Meeting of The Galway United Friends Co-operative will be held at the Ryan Room, The Connacht Hotel, Dublin Road, Galway, on Monday 18th June 2018 at 8.00pm for the purpose of considering and, if thought fit, passing the following motion:
1. To seek approval on a third party investment in Galway United.
By order of the Board"
RTÉ has reported that the third party is a group of Saudi investors who have "experience in running and managing football clubs."
One of the Co-Op's stated aims is "Working towards a mutually fan owned Galway United FC." There ethos also includes the passage "Across Europe, clubs are turning their backs on private owner-ship and reforming into collective, membership-based bodies in order to enshrine the security and future prosperity of their club into the hands of those who care most—the fans."
The club has so far declined to comment on these reports.
Galway currently play in the second tier of the League of Ireland, sitting sixth in the table.