Sport

Waterford FC reportedly put up for €1.3 million sale

Waterford FC reportedly put up for €1.3 million sale

Waterford owner Richard Forrest has denied that the club is definitely up for sale.

It was reported that an advisory company had been circulating a prospectus to potential buyers, valuing the First Division club at €1.3 million euro.

Forrest, whose R-and-S Holdings only bought Waterford twelve months ago, says the prospectus was a means of assessing market value and potential interest.

He denies that a sale is a forgone conclusion, saying he’s disappointed a board decision has been leaked.

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A statement was published on the club's social media saying:

"It has been brought to my attention that an article by Gavin Cooney of The 42 in relation to the sale of my football club Waterford FC has been released today (23/06/22).

"I am deeply disappointed that an Internal Board decision to illicit a commercial assessment of the club’s market value and potential interest of Waterford FC has been leaked to the press and presented as a forgone conclusion rather than a market value and current assessment of market interest.

"To all Waterford FC respected and loyal supporters I would like to unreservedly apologise for both the timing and content of this published article as it would be my intention to share news that impacts the staff, team, players and fans directly to all of you.

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"Please be assured any significant changes that affect Waterford FC will be communicated to you in a timely and respectful manner.

"In the meantime I am and remain the proud owner of Waterford FC and want us to focus on our next steps rather than be distracted by this.

"Onwards with our next game against Bray Wanderers.

"Yours in sport,
Richard Forrest,
Owner"

The club has told Beat Sport that they have no comment to make.

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