Dundalk confirm Hull City takeover off the table

Dundalk have confirmed that the possible takeover of the club by the owner of English side Hull City is off.

The Lilywhites have been the subject of interest from a number of potential investors in recent months.

Speculation increased last week that Acun Ilicali was closing on a deal to acquire a majority stake in the 14-time Premier Division champions.

The club released a statement on Friday denying any deal was imminent but detailed their outlook on additional finance coming into the club, claiming it was necessary in order to compete for honours and improve facilities.

However, it seems certain that the Championship club will not be linking up with the Oriel Park outfit in what Dundalk chairman Sean O'Connor described as a mutual decision.

O’Connor told official Dundalk media channels: "We had conversations with Hull. That is apparent and well-covered. But we're at a point now after those conversations where we are not going to progress with them at this point.

"We both decided to put things on ice. We’re not going to be going forward at this point.

"These conversations come and go; they go down a path and won't move on. That is the nature of this business, of football, and what we expect to happen.

"From how the last seven days went, the things that happened took us all by surprise. It was never as close as was made out in the last seven days."

Hull's owner Ilicali was at Richmond Park last Friday amid apparent interest in investing in Shelbourne FC, according to the Irish Independent.

Dundalk, while having made a poor start to this season, are set to compete in the Europa Conference League qualifying rounds this summer.

Manager Stephen O’Donnell did not make a single domestic signing in the off-season, recruiting from abroad