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LAST UPDATE | 16 Sep 2024
DUNDALK ARE SET for a stay of execution after today’s self-imposed deadline for investment to keep the club afloat was extended by owner Brian Ainscough.
And there was further cause for optimism for the future at Oriel Park after Minister for Sport Thomas Byrne confirmed that the Government would provide up to €500,000 in funding as part of its Sports Capital Grant process.
The 42 reported earlier this afternoon that Ainscough has been in talks with two groups – one of which is based in mainland Europe – about a deal to ensure the Premier Division side can survive until the end of this season.
With sources confirming an overall debt figure of more than €1 million, it’s believed that €360,000 is needed in the short term for Dundalk to fulfil the final couple of months of the campaign.
Ainscough released a statement last week confirming the perilous financial situation the club found itself in. Wages to staff and players went unpaid at the start of this month and while those monies have since been paid there had been no solid commitment for any future external investment.
On Friday, American businessman Jeffrey Saunders pulled out of talks with Ainscough and that led to a fraught weekend.
Developments today have provided some hope, with Minister Byrne confirming that up to €500,000 will be forthcoming to upgrade the astro turf pitch and floodlights.
“What I’ve been able to say is that subject to the club remaining in existence, getting a league licence, the club will get most if not all of the half a million euro they have applied for. That’s just to be helpful to the process, we will make a final announcement in the next two weeks,” Minister Byrne said, insisting that the money would not be used for wages or debt relief and that he had contacted FAI interim chief executive.
“No, it’s for capital development but as I understand it that (stadium upgrades) is a significant factor now in terms of who might want to come to the club. We’re just trying to be helpful to the process.
“I informed David Courell and I think it’s taken in that vein, that it will be helpful to the process.
“We want the club to be saved, we want the club to maintain its existence. We know it’s a valid application, we know it’s a good application, to give this indication at what is a critical juncture for the club is helpful.”
At the FAI’s AGM in Dublin on Saturday, Courell admitted the timing of Ainscough’s takeover at Oriel Park played a part in a more rigorous check being carried out.
The Dubliner, who has been based in Boston since emigrating there in the 1990s, took control from StatSports and Andy Connolly in December 2023, one month after the licence to compete in the League of Ireland was granted by the FAI.
“It’s regretful the situation we find ourselves in, the situation Dundalk find themselves in,” said Courell. “We need to acknowledge that there are lessons to be learned from this process.
“The financial checks ahead of the 2024 season were done on Dundalk’s previous owners. While there is an owners and director’s test, that primarily focuses on the integrity of the incoming owners.
“We recognise, and we’re not unique in this situation, it’s quite common in leagues across the world, that at that juncture there wouldn’t be the same degree of financial due diligence carried out.
“That is a learning we need to own up to. Right now, our focus and energy is in trying to support Dundalk and ensure its viability moving forward.”
Asked about the FAI’s role, Minister Byrne said: “This can’t be allowed to happen. We need to protect it. I’m not happy the way everything has happened. For the future I think there needs to be financial tests in terms of new owners coming in.
“I know that’s something the FAI are looking at to make sure that everything will work out for at least the medium term. Nobody is going to stay forever. There are clubs there that are community owned and that’s a really good model, and there are institutional investors too, some of whom are good as well.
“But if the profit motive is there then it’s not always the football considerations that are paramount. I’m not sure what profits come out of League of Ireland clubs, occasionally they do and that’s part of the problem here. We want to support them as best we can.”
Written by David Sneyd and originally published on The 42 whose award-winning team produces original content that you won’t find anywhere else: on GAA, League of Ireland, women’s sport and boxing, as well as our game-changing rugby coverage, all with an Irish eye. Subscribe here.
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Micheal Martin & his Fianna Fail party, Leo Varadkar & Simon Harris & their Fine Gael party & Eamon Ryan & his Green party along with all Opposition parties in the Dail have utterly failed our young people & stabbed them in the back. I know as I have them at home, they work hard, paid their way through college, got jobs & paid their taxes, contributed to their communities but are left living at home due to exorbitant rents & know that they will never own their own home. They pay astronomical prices for their insurance, energy, broadband, groceries, you name it. All the above have destroyed a generation, who will never forgive them. There is massive anger then as they watch a Govt bend over backwards providing everything for those arriving daily. Ireland is on the brink of civil breakdown.
@SV3tN8M4: but they are living at home. Pool money for food, energy, groceries. College is less than 3-4k per year if living at home. Once working, they pay $750/ month for all bills because they don’t pay rent. They can save lots per month as a result. Living at home as an adult is a gift! It may not be ideal but a gift nonetheless!
@Susan Cody: it’s a fair point you make but even then it can be difficult to save. For instance if you have student loans or a car loan for a vehicle you need to travel to work. Also not having the security of your own home leads to delaying crucial life milestones such as having a family which leads to a further dominoe effect.
@SV3tN8M4: it’s a global game of musical chairs basically. For instance our nurses and doctors leave to another country for better pay and conditions and then we import a nurse or doctor from the Phillipines for instance who is also looking for better pay and conditions. Apply this to all jobs etc etc
@SV3tN8M4: If they have a decent job and are living at home they should be saving huge money each month. Those astronomical prices you mention should be minimal unless you are charging them heavily. Many don’t have the option of living at home
@SV3tN8M4: perfectly said sir
@Susan Cody: Yes and many of our new visitors don’t have to pay rent, food or any other bills and if they have college age children have no college fees. Why should our own children be unable to stay and live in their own Country go to work have a place of their own to live in and maybe have a family these would be our future citizens and workers of Ireland and everyone will need care and maybe these people could be our carers eventually.
@Susan Cody: I wouldn’t regard it as a gift to have to share someone else’s house when you’d prefer to have your own space. Especially if you can’t afford to move out. While it’s nice to have company and someone offering you $750 towards shared bills, it is very far from ideal. People want to have their own space and their own ways and will emigrate to achieve this. No blame to them. This is a welcome article because it looks at whether this generation really has any affordable choices in Ireland. People are increasingly voting with their feet to live in an affordable country where they can make their own way and have a realistic prospect of thriving without supports.
@SV3tN8M4: You comments consistently end with a sinister reference to civil or societal breakdown or unrest. You are full of horse manure
@Susan Cody: I’m lost with your comments how much do they get paid an hour and how many hours can they work a week and be successful in there course,really save money
It’s real simple when you finish college you tend to leave home and start your life. Maybe move in with a few friends. Maybe a couple might move in together. Rents are off the charts expensive. It’s gone out of control. We have the most expensive electricity in europe as well. Living with your parents isnt an option, so why not move abroad. The sad bit is 50% of those that leave will never come home. They will settle abroad.
@Washpenrebel: I have a good few nieces and nephews abroad…its all good until they start families, and then they move back home… They want to raise their kids here and need support from other family members…
@Washpenrebel: It’s better that way. The closeness of everyone will only increase, it’s unavoidable (failing a massive war or natural disaster that sets us back). It’s going to be useful to have Irish people all over the world, we sort of already do. Ireland is too ‘backwater’ anyway, no real economy for aspirations. More for retirement.
Looking at this sorry excuse of a government, I’m reminded of George B Shaw’s observation ‘The great tragedy of Ireland is that the intelligent are full of self-doubt, and the fools are cock-sure of themselves ‘ .
@Brian Hunt: would you ever consider quitting the gaslighting business ?
@Brian Hunt: There are quite a few that are educated beyond their abilities.
Most call themselves Greens.
We have one such notable that comments here.
@Daniel Dunne: You’re an example of what he was saying!
This country has simply become unaffordable to live in.
Constant meddling in every aspect of daily life by government. Over regulation of everything.
Cost of everything out of control
The Tax Gine and Penalties Green Party have driven costs beyond the reach of almost everyone.
Carbon Tax has raised the cos of everything
Plastic bottles tax
Labour costs
Sugar tax
Plastic bag tax
Businesses are swamped with costs thus raising the costs of everything by passing on costs inflation by government
Sick pay
Holiday pay extra bank holiday
Four day week
Working from home
Pensions
Domestic abuse pay on way
Along with
Rates
Employer PRSI
Vat
Corporation tax
Rent
Crippling insurance costs
Crippling energy costs
Crippling produce costs
This has all been passed on to our young people.
It’s too expensive to run a car. With no alternative offered outside of Dublin
Green Party policy is cycling
It’s too expensive to buy a house
It’s too expensive to rent
It’s too expensive to renovate or extend a property
Our young people see no future here in this tax crippled economy.
Just yesterday a young friend of my Son headed to Australia. Never to come back. On discussion with him. A professional guy and well paid. His synopsis is simple. No future here it’s too expensive.
My son another professional person, with his own house, considering moving at present. Well paid but fleeced in tax and further fleeced by secondary taxes vat and other government expenses.
Country has dropped 5 places in world rankings of being a country to do business in. From 9 to 14th. The rot has started. We have finally priced ourselves out. .
@Max Cooper: Oh, go away!
@Sean O’Dhubhghaill: People are going away, that’s the point.
I am not in the age bracket and left 6 years ago, long before the recent arrivals. Best thing I have ever done. The mismanagement of Ireland and the bottomless pit of taxation used to pay for it is astounding. Don’t blame the asylum seekers. Ireland was a mess long before that!
Of course they are, they are trying to water the rest of us down too
@Brian Hackett: clown.
@Ian: did you spell that all by yourself??
The majority of issues facing young people are being caused by the ever increasing cost of rent and the cost of living in general.
For a young person that didn’t go to university and instead when straight into a trade or other job, their level of income means living outside the family home is beyond their means.
For those that went to university and left with a degree, they had lived away from home, but their level of income has also forced them to return to their family homes.
The lack of action by successive governments that only pay lip service to the housing crisis, while neglecting to build sufficient social housing is the causation factor behind all of this, yet they continue to act as if they are reacting to some unknown issue that occurred organically rather than by design.
@Dvsespaña: A lot of university degrees aren’t worth the paper they’re written on in the real world.
In my opinion, you can’t go wrong with an apprenticeship, provided the potential sponsor of the apprenticeship isn’t a langer.
Tradesmen and houses are so scarce now, the money is only going to go one way.
I know self-employed tradesmen adding thousands onto quotes just to NOT get the job.
A few weeks later, phone call ‘when can you start?’
@Dvsespaña: The cost of living has actually gone crazy here in this country. I earn about 15k more now than I did 16 years ago, but I seem to have less and less disposable income than I ever had, albeit with the addition of a child. One fine example I noticed just yesterday: a small luxury of a can of Coke was €1.70, before the deposit tax, in super value. 2 years ago, that was €0.90 cents to a euro. 70% increase in two years!! In 2015, a skoda octavia RS was 32K; now its 52K+, a 62.5% increase in 9 years. that’s an increase of 7% year on year yet average wages went up by just over half that, at 4.6%. It is similar for other car brands. Energy costs went up 21% in 12 months. Slowly coming back down. but not by much. Fuel is almost 50% more expensive now than it was 3 years ago. 2021 barrels of oil cost $84.56, at pump 1.42 per liter of diesel. Today, a barrel of oil is currently $82.76 and at pump 1.80 per litre of diesel. 26% increase in 3 years. Groceries increased in 2023 by 16.3%. Average wages aren’t matching these increases, not to mention the cost of rent/house prices. Health services are strained; young nurses are leaving and not being replaced; and older staff are burned out, leaving and not being replaced. That’s going to lead to a very poor health system in the near future. No amount of billions spent in Dublin hospitals will fix that, as nurses, regular staff, and even doctors can’t afford to live there, and the lack of resources in the rest of the country makes it a less desirable profession in Ireland. They have the offer of better wages, working conditions, and lifestyles in other countries such as Canada, Australia, and the Middle East.
Previous generational emigration drains from Ireland were largely driven out of economic hardship and poor opportunities at home. The difference this time around is that there is plenty of employment opportunities at home, but the quality of life and wellbeing standards are lower than we’ve become accustomed to and sliding. The main reason that there isn’t a total exodus of our young is that most of the western world is experiencing similar pressures arising from severe mismanagement.
@Caoimhín Mac Giolla Chaoin: Severe Mismanagement = Inappropriate distribution of wealth (Greed). We’re good at that here
@If you’re: Using the arrival of refugees as a reason to stuff the pockets of landlords is, indeed, greed, and the people engaged in this societal misadventure actually believe it.
The tendency to see ‘greed is good’ while everything else is social politics is untenable, but the journalists are inclined to see poor political policies rather than a circle of economic influence that excludes younger people or ignores them.
Journalists should be influencing how to reward people for productive and creative activity instead of just speculative acquirement of wealth for its own sake. Unfortunately, that is not the case, and these publications should take a long look in the mirror.
41% of people aged between 18 and 34 are planning, considering, or in the process of leaving this country. This is shocking and reminds me of the brain drain after the Celtic tiger crash, FG/FF again have failed them and left them with no realistic chance of a decent standard of life even when they have decent jobs. I feel sorry for the people considering this and their families.
Survey understates this trend because it excludes those who have already gone.
@Martin Purdy (Martin): Agree. And does not seem to include any count of these.
Of course they are. The fact that the young generation plan to leave or not is irrelevant. Meanwhile AIB and the like renew contracts with Indian companies with no intention to open jobs with decent pay to our young one. They even claim the Irish one are being unreasonable to justify on the salary they offer and when there is a rare opportunity. Same with the hospital and IT technologies jobs.
Houses health cost of living violence Dodgy ministers jobs for the boys/girls.
Of course they are and they’re trying to water the rest of us down too
Not enough room on this island to accommodate the amount of people that want to be here.
@Mark Gannon: pure bullshyte.
Young(er) people will always emigrate from this little island on the edge of Europe. It’s a huge, exciting world out there and they’ll all leave for various reasons. Travel, living and working aboard is far easier than it ever was. Some will feel forced, some will find the hills forty shades greener elsewhere, some will want the excitement, experience and all that the world has to offer. A great many will also return. This country is too small for growing humans.
As the father of a recent emigrant to Australia, I can answer that question with a Yes.
Highly qualified, highly skilled and in a very well paying occupation with great prospects. But even with all of that could not have anywhere near a decent lifestyle after forking out for huge rent. No possibility of ever owning a home, no possibility of ever being provided with affordable accommodation. Working very hard, paying huge tax and seeing no return on any of that.
Struggling with huge rent, struggling with very poor transport options, struggling to save anything, struggling with the ever present threat to personal safety and violence on our lawless streets, struggling to get any kind of service such as GP care or dental care. Why would they stay?
Very sensibly knows that far away fields are not always greener but also sensibly knows it could not be worse than here. Reluctantly emigrating and sad to do so, leaving a lot of sadness behind too. I now understand the term “emigration bereavement”, unfortunately.
Looking at what they needed in terms of documentation and process to just get into Australia was also hugely enlightening. It was a long and difficult and expensive and extensive process. Our own government ought to look at it as they would learn a lot about managing migration.
The polling is fundamentally flawed. They do not consider themselves as emigrants. They live in a broader universe than those asking the question.They view the government as an incompetent local county council run by gombeen politicians. They literally do not expect any better.They know failure to govern is the obvious outcome of cronyism, corruption and a landlord mindset to society.
@paul walsh: Bahahahaha go on back to bed.
Thats what this govt wants ! Irish people out and foreigners in !!
35 years ago I left. It is, thankfully, common for Irish people. Most end up going home. If we didn’t travel we would end up like the US, where a huge proportion of their citizens are completely ignorant of the world. We need to start embracing emigration as a positive. Stay at home and Decay at home.
@Sean O’Dhubhghaill: No young person should feel forced to immigrate from Ireland for a decent standard of life when they have decent paying jobs “stay at home and decay at home” that really says it all, nothing has changed in past 35 years, the goverment continues to fail our youth and the brain drain continues.
@Sean O’Dhubhghaill:
You just said “people are completely ignorant of the world because they don’t travel”.
Is that not ignorant?
And traveling and emigrating are two very different things.
@mariona l: You are quoting me? Inaccurately! But, accepted! I can travel to Galway and that isn’t emigration.
21% of 55 to 64 year olds want to emmigrate. This surprised me.
Interesting read. There is a normal or average number of people who will travel, emigrate every year. This isnt new and it is not unique to ireland. What is concerning thou is the trend of professionals leaving and not returning coinciding with the shortages here. Change is needed badly in the likes of the HSE to stop this.
There’s no future for young people in Ireland, unless you have wealthy parents who can help you buy a house. Particularly not for nurses and teachers who can get much better pay and conditions abroad.
Young people are being pushed, or shall we say being forced to emigrate. While at the same time the FFFGG endorse illegal migration into the country at an exceptional cost. Legal migration, yes. Illegal.migration, no.
Another silly Journal survey where they try to be alarmist by making small numbers newsworthy. 3% planning to emigrate. 8% in the 18-34 category – students and graduates wanting to explore the world. There is nothing unusual here, either in the survey results, or in TheJournal wanting to poke a stick in the cage of those who live here only to rant about the Govt.
Every year thousands of Irish people move to Australia to experience a different culture, get some sunshine, do a bit of travelling and go on the p1ss while working in whatever job they can find. The VAST majority come back 12 months later.
The way that youth emigration is described in the media as some sort of national tragedy, you’d swear it was still the 1950s and emigrating meant a one way boat ticket, never to return.
As is the case in the UK, cities will be abandoned first as the Islamists arrive.
They are sadly deluded if they think the cost of living is cheaper in other western countries
This is low compared to the 1960′s & 1980′s, in the 80′s (I know the dim and distant past) it was the norm for more young people to have to leave than to stay here. So I’m going to go with the glass half full that less people are thinking of leaving now. I’m not in any way saying things are great here but less people are leaving so something must have changed.
The reality of starting a new life in another country from nothing ,has not being realised by these young Irish people. They will still be paying high rents ,high property prices, high living costs in western countries such as Canada, Australia new Zealand USA ect, unless they move to Eastern Europe or Russia, like the Canadian farmer on YouTube.
Only some adventure seekers.The question is what percentage want to emigrate here.
Just go and stop the hysterical drama
have your say