Sligo Rovers members approve new model at club meeting

Sligo Rovers members voted overwhelmingly in favour of restructuring the club at a special general meeting this evening.

Rovers asked members to consider whether the management of The Showgrounds and the club should be separated into two entities.

The passing of the proposal opens up the possibility of private investment within the club in the future. The Bit O' Red management committee said they are not in talks with any parties.

A total of 225 members of the club were present in person or online, with a near unanimous acceptance of the proposal.

A majority share of the club will remain with members even if they do take bring in investment. Any investment will be voted on by the membership.

The club's co-operative society will now establish a company to manage football operations, including the men’s and women’s senior teams and the academy.

The society will own all the shares in the new company, appoint its directors and it will also continue to hold the lease on The Showgrounds, which runs until June 2064.

A second SGM will take place on 14 October to confirm approval.

The club previously said its current financial model is no longer sustainable and the changes will help generate resources and investment is needed to be competitive at the elite level of soccer in Ireland.

They are set to be relegated to the First Division after two decades in the Men's Premier Division, during which they won a league title and three FAI Cups.

Recent seasons have been a struggle and they are likely to officially go down in the next round of league fixtures.

It was also revealed at the meeting that the club will receive a financial payment from Scottish side Hibernian following Owen Elding making his international debut for the Republic of Ireland tonight.

The 21-year-old joined Hibs last January in a €500,000 deal with a number of additional clauses, including a sell-on percentage fee and international cap, the latter of which was triggered in Kosovo in the closing minutes of the UEFA Nations League fixture.

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