COBH RAMBLERS have announced that investors FC32 have parted company with the club after just nine months in charge.
The investment company announced last October that it had purchased the First Division outfit and had big ambitions to develop an academy at the club.
But, while there was no public comment from the club, there were rumours of issues when FC32 ended its backing of Austrian outfit St Polten in early April.
And Cobh has now confirmed that the club was kept going by the volunteer committee, with FC32 no longer involved.
A statement read: “We can confirm that the club has formally and fully parted ways with FC32 Global Investments Limited.
“The process of separation has been completed, and Cobh Ramblers FC has returned to being solely operated by its elected committee and Directors.
“Any previously appointed representatives or board members affiliated with FC32 are no longer involved in the club.
“In recent months, the club has remained operational thanks to the dedication and hard work of our volunteer committee and the elected members board.
“Their efforts have ensured that the club could continue to function through a period of uncertainty and transition.
“We are also pleased to confirm that we are in the advanced stages of discussions with a new preferred investor group.
“This group has already provided assistance and support to the club in recent weeks, helping to stabilise club operations while both parties’ complete due diligence.
“We are optimistic that these discussions will lead to a positive outcome for the future of the club and would like to thank the investor group for supporting the club in the interim.
“The focus now is firmly on moving forward together, with the best interests of Cobh Ramblers FC at heart.”
