Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Belfast Live
Belfast Live
Sport
Darren Fullerton

Crusaders members vote to accept investment proposal by consortium including Ian Rush

Crusaders are staring at a new dawn after accepting a substantial investment by a consortium including legendary Liverpool striker Ian Rush.

It was revealed earlier this month that the IRAMA company, of which Rush is a key shareholder, were seeking to buy a majority stake in the club.

And members have now voted 236 to 36 to accept the proposal.

Read More: Linfield odds-on favourites to retain league title as Glentoran slip to 4/1 outsiders

It is hoped the transaction will be completed in May with the overall investment in the North Belfast club set to be in the region of £2.5 million.

A statement issued by Crusaders on their Facebook page said the overwhelming vote of approval was made at a “packed meeting at Seaview Stadium” on Thursday night.

The statement added: “Members voted 236 for and 36 against to accept the proposal for a substantial investment in Crusaders Football Club.

“The 75 percent threshold was comfortably met and the club will now instruct solicitors. It is hoped the transaction will be complete by May 2022.”

The ambitious move will see the Crues link up with 15 other Ian Rush Academies based in England and France.

The Shore Road club also hopes the investment will help with stadium redevelopment plans and provide links with football agents across Europe, Asia and Africa.

When the matter was first raised at an EGM earlier this month, Crusaders chairman Ronnie Millar said the move indicated the club’s desire to continue challenging at the top of the Irish League.

The likes of Glentoran, backed by British-Iranian businessman Ali Pour, and Larne, supported by online mogul Kenny Bruce, have all benefited from significant investments in recent years.

At the time, Millar said: “New wealth in the League is forcing others to reflect. The one thing that is certain is that standing still is not an option.”

Crusaders will now transition from a wholly fan-owned club to a shareholder model in which fans will retain a significant holding.

Read More: Ali Pour predicts bright future for Glentoran after confirming "long term" vision for club

Read more: Former Linfield forward Paul Smyth says anger inspired Leyton Orient screamer

Sign up to our free sports newsletter to get the latest headlines to your inbox.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.