Cork City members agree takeover from Dermot Usher with 86% vote

Cork City is under new ownership as FORAS members have voted in favour of a takeover by Kildare-based businessman Dermot Usher.

A total of 86% of voters agreed to the motion at a Special General Meeting held at the Clayton Hotel in the city centre on Sunday afternoon.

Usher will now provide FORAS with an undisclosed fee that will allow them to execute a Deeds of Surrender of the Call-Option with Grovemoor Limited.

That is a hangover from a vote by shareholders to sell the club to the consortium in October 2020.

Once the process is completed, the assets and liabilities of FORAS will be transferred to a newly Incorporated Company called Cathair Chorcaí 2022 FC Limited.

If this sale is not completed, FORAS have authorised the Board of Management to continue to operate Cork City through the new company.

One of the primary conditions of the sale is that FORAS have a debt free buyback option of €1 from Usher

The immediate attention now turns to Usher's plans for the 2022 First Division winners.

In a recent fan podcast, he revealed he is willing to fund the club with up to €850,000 in his first season if needed, with the aim of decreasing his commitment over time through increased revenues.

On the pitch, the goal is achieving qualification to a European competition in the coming seasons.

The club have Colin Healy as their boss and two players are signed for 2023; club captain Cian Coleman and striker Cian Murphy.

Usher also hopes to appoint a director of football, along with an accountant and a marketing executive.

He also wants to regularly engage with FORAS members through annual meetings and quarterly gathering with the Board of Management.

He also has plans to improve the club's academy and the women's teams, saying they will all come