Could US investment be a game changer for Drogheda Utd?
Club members have vital say in what route the club should take
The news that Drogheda Utd are set to receive a significant investment from the American owners of Walsall FC is an intriguing twist in the history of the Co Louth club.
It could all mean game-changing funds could be made available to purchase players and boost the club's fortunes.
It is something of a miracle that Drogheda have sustained themselves in the Premier Div since they were promoted in 2020 when Timmy Clancy was in charge.
Clancy's achievement in taking charge, which he did in 2017, putting a team together on a meagre budget and then guiding the club to the top flight has to go down was one of the finest achievements by any manager in the domestic league in recent times.
Clancy of course moved onto St Pat's but it didn't work out for him at Inchicore and earlier this year he left the club by "mutual consent."
Since Clancy departed from Drogheda Utd for St Pat's in 2021, Kevin Doherty has taken charge and he has continued the good work. He has to operate with one of the smallest budgets of any club in the Premier - but that could change.
It's refreshing that Drogheda Utd are controlled to a large extent by members who have the interest of the club at heart. Genuine interest. They will consider long and carefully before making their decision - and so it should be.
Trivela Group LLC, the Alabama-based sports investment firm that took over the fourth-tier English club Walsall in January 2022 are close to finalising an offer to buy into the fan-owned Drogheda Utd.
The Board of Drogheda United Members Club Ltd has provisionally accepted an offer from Trivela to acquire 100% of Drogheda United FC Ltd. but their decision is subject to approval by the members.
Drogheda Utd Members Club will have their say on the proposed acquisition with a vote which is set to take place at a Special General Meeting on 6th November 2023.
Prior to the meeting an open forum will be held on Thursday 2nd November 2023. During this forum, Trivela representatives will present their plans for the club and address inquiries from Members and supporters.
Drogheda have just over 200 members. Each member gets one vote on selling a majority shareholding to the US firm, with a simple majority required.
The decision to sell or not is a big decision by the fans that is sure to have far-reaching consequences one way or the other.
Trivela was founded by Benjamin Boycott and Kenneth Polk. Last year Boycott became co-chairman of Walsall alongside the club’s former owner Leigh Pomlett. Polk is CEO at Arlington Family Offices in Birmingham, Alabama which holds over $12 billion (€11 billion) in capital.
Boycott, a Canadian with a background in finance, said after the takeover of Walsall that he believes in “investing in things that matter in the world and matter in communities, things that will stand the test of time.”
“We’re pursuing a multi-club ownership model, that’s the long-term vison,” said Boycott. “There’s interesting opportunities for synergy when an organisation has multiple clubs. It’s the town [of Walsall’s] club. We’re the stewards of it.”
Since the takeover of Shelbourne by Hull City owner and Turkish media magnate Acun Ilicali, the League of Ireland has become a live option for wealthy owners seeking to create a multi-club system that links Irish clubs to English teams.
Like the Shels deal with Hull City, Drogheda would be the smaller club feeding into the bigger English outfit. It is an arrangement that appears to be working well right now.
Walsall finished 16th in League Two last season with four Irish players on their books in Liam Kinsella, son of former Irish international Mark Kinsealla, Ronan Maher, Oisin McEntee and Conor Wilkinson.