St. Pat’s are €240,000 better off after UEFA tonight booted Waterford FC out of the Europa League on a technicality.
But the move may have serious ramifications for the Blues as owner Lee Power is threatening to ‘pull the plug’ in the wake of the hammer blow.
Power is livid and ‘shocked’ that Waterford’s summer adventure is over before it started and has consulted legal advisors.
“Lee could easily pack it all in and that’s not an idle threat,” a well-placed Waterford source told Mirror Sport.
And they added: “Lee has put a lot of money into the club (believed to be €2 million) and with European prize money taken away, it could be the end of it.”
Waterford at war with St Pat's as Saints try to block Blues from Europe
A statement read: “The FAI can confirm it has received notification from UEFA’s Licensing Department that Waterford FC’s exception request has been rejected on the non-fulfilment of the three-year rule as defined in the UEFA Club Licensing and Financial Fair Play Regulations.
“UEFA has informed the FAI that, following the Club Financial Control Body-Investigatory Chamber decision in this case, Waterford FC may not apply for a UEFA licence for the UEFA Club Competitions for the season 2019/20.”
When Power took charge of the old Waterford United in late 2016, he paid off debts and rebranded the club as Waterford FC.
At the time, he stated it was his aim to get the club into Europe.
But UEFA stipulates that ‘new’ clubs must be in existence for at least three years before they can play in European competitions.
On Wednesday, St Pat’s wrote to FAI interim CEO Rea Walshe objecting to Waterford receiving a licence to play in Europe this season.
St Pat’s finished one place behind Waterford in fifth last season and are now in line to take the spot.
The Saints believe they have fulfilled all criteria required to successfully secure a European licence when they are dished out.
And a source close to the Inchicore club said last night: “St Pat’s are within their rights to ask the question of the FAI and UEFA.”
In their letter to the FAI, St Pat’s flagged their concerns over the three-year rule and also queried whether all creditors have been paid.
Waterford boss Alan Reynolds would have built his squad for this season with a European budget in mind.
The club also had a number of site inspections at the RSC in recent months to ensure the ground is up to scratch for the Europa League.
And a league game away to Sligo Rovers that was scheduled around the Europa League rounds in July was brought forward by the FAI to May 21st.
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