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Irish Mirror
Irish Mirror
Sport
Michael Scully

Limerick plunged back into financial crisis mode as proposed investors withdraw

Limerick have been plunged back into crisis mode with the withdrawal of proposed investors.

Tommy Barrett's squad haven't received their wages for March and have been promised that payment will happen today.

But if wages are not lodged as scheduled the players have agreed not to withdraw their services ahead of the First Division clash with Longford Town tomorrow night.

The PFAI are monitoring the situation closely as Limerick are also scheduled to pay the players' April wages NEXT Friday.

The squad are due to meet with the players' representative body early next week regardless of what occurs today.

A group of investors, led by Donal Magee, issued a statement yesterday confirming that they no longer want to invest in the club.

The group proposed in February that it would take over the club at the end of the season, with Magee announcing that they had a 'gentleman's agreement' with current owner Pat O'Sullivan.

But yesterday's statement read: "Despite our endeavours and investment in recent weeks and months, we are now resigned in saying we have been unable to come to an amicable agreement with the club to pursue a takeover.

"Regrettably we feel the terms of valuation put forward to us are unworkable and our belief is that the valuation of the club is unreasonable.

"In light of the weekend revelations that players have not been paid, we feel our time would be better appreciated pursuing other options".

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