The need for change
According to Tommy Higgins, club chairman, ‘Sligo Rovers status as a community club is a valued element of our history and tradition. The club has survived some very difficult times due to the relentless commitment of our dedicated volunteers. These people contribute enormously to the funding and operation of our club.
The League of Ireland is now a different place. Clubs have adopted new commercial models and are benefiting from significant external investment. Success in the League of Ireland leads to European competition and the substantial financial benefits that brings. The gap is widening every year.
I think our ambition as a proud club must not be limited to survival, every supporter wants to see their beloved Rovers compete, thrive and prosper.
The model we have has served this club well for almost a hundred years. But the football environment we find ourselves in has changed around us. The Society must ensure that its structures are fit for the challenges Sligo Rovers faces, and can attract the resources we need to compete at the highest levels.
Thankfully, when we are looking at potential structure and funding models, it is not an ‘either/or’ scenario. It is not a binary choice between a rigid membership structure and an openly commercial arrangement.
Since our last AGM in April we have been researching the legal, financial and administrative issues to increase funding for the Club. We are heartened and encouraged to discover that viable funding and investment opportunities do not have to undermine the role and benefits of member ownership. The members can remain in control, and can determine the opportunities to be taken.’
The Sligo Rovers restructuring proposals
It is envisaged that the Sligo Football and Sport Development Society – Sligo Rovers – will establish a new company to manage the football operations of the Club, including the men’s and women’s senior teams and the Academy.
The Society will own 100% of the shares in the new company and will appoint its directors. The Society itself will continue to hold the lease on Sligo Showgrounds, which runs until June 2064, and will remain responsible for operating the physical facilities at the grounds and for delivering the new stadium.
Showgrounds secure
It is important to note that the legal status of the Showgrounds is not affected in any way by this proposal, the Society is the tenant under the lease with the Trustees of Sligo Showgrounds until June 2064, this will not change, The Trustees are fully supportive of the proposed restructuring.
Additionally, the development plan for the new stadium is fully funded and external funding is not required. The €16.4 million Large Scale Sport Infrastructure Fund grant awarded to the Society, and the €6 million in Immigrant Investor Programme funding for facilities at the new stadium, are unaffected by the proposals.
New era
Tommy concluded ‘We are embarking on a process that is open and transparent. Our members will make a fully informed decision based on our engagement with them
The Club is at a pivotal juncture, the next few weeks are critical.
This is about modernising how the club is run and securing what we hold for the generations coming after us.
We urge all the members of our Society to participate in these vital decisions on the future of the club.’
What happens next
As a member owned co-operative, the decision on the restructuring rests entirely with the Society’s shareholders, who will consider the proposals at upcoming special general meetings.
The Society has written to shareholders to inform them that proposals for the modernisation of the Society’s structure will be brought before general meetings in September and October.
In the coming days the Society will also write to long-term contributors to the Friends of Sligo Rovers 500 Club who may be entitled under the Society’s Rules to apply for membership. These important supporters of the club will be invited to complete applications so that they can attend and vote at the general meetings.
Formal notice of the general meetings will be issued by post to members in early September. The frequently asked questions below set out the proposals in more detail. Questions may be directed to the Membership Team by email at membership@sligorovers.com, or by telephone on 071 9171212, selecting option 8, which allows the caller to leave a message.
The Society & the Club
Who owns Sligo Rovers?
Sligo Rovers is owned and operated by the Sligo Football and Sport Development Society, a community-based, member-owned co-operative governed by the Industrial and Provident Societies Acts. The Society oversees the club’s men’s and women’s senior teams and Academy, develops sporting and recreational facilities, and delivers community football responsibility programmes for all ages, including Easter and summer camps for children.
Who owns Sligo Showgrounds?
The 12 acre Sligo Showgrounds is held in trust forever for the benefit of the public, particularly the people of County Sligo. The Trustees lease the grounds to the Society and the current lease runs until June 2064. The restructuring proposal will not affect this lease.
What is Being Proposed
Is Sligo Rovers being sold?
No the club is not being sold. The changes proposed will modernise our club, strengthen our football and property management operations, improve on-field performance and create new commercial opportunities to grow and sustain Sligo Rovers into the future.
What changes are proposed?
It is proposed that the Society establish a new company to manage and operate Sligo Rovers’ football activities, with the aim of competing at the highest possible level in Ireland and Europe. The Society will own 100 per cent of the new company and appoint its directors.
What stays with the Society?
The Society will continue to manage the Showgrounds, including its community and football social responsibility activities. It will also oversee the development of the new stadium and manage its facilities once completed. The new company will be licensed as the football club to use the facilities it needs for matches, training and Academy activities at the Showgrounds.
Will members own shares in the new company, and what happens to existing shareholders?
No. The Society will own 100 per cent of the shares in the new company, while members will continue to own shares in the Society. Nothing changes for existing shareholders. The Society will continue to hold the lease on the Showgrounds, the club’s public funding grant awards and the Sligo Rovers identity.
Do the members benefit financially from the proposed restructuring?
No – the shares in the Society are essentially proof of membership, have no financial value and cannot be traded. The shares in the new company will have only a small nominal value and will be owned collectively by the Society.
Will assets transfer from the Society to the new company?
Yes. Those assets needed to operate the football activities will transfer to the new company, including cash resources, ticketing, merchandise, employment and supplier contracts, and equipment. Other assets, including the use of the stadium facilities and the club’s identity, will be licensed to the new company rather than transferred. Resources will be reallocated to ensure both the Society and the new company remain viable, with all arrangements made in accordance with legal and tax advice, and will be legally binding.
How will the club’s heritage be protected?
The club has played at the Showgrounds since 1928 and means a great deal to supporters across Sligo and the north-west as the spiritual home of the club. The club’s identity and its ongoing base at the Showgrounds will be protected through legally binding agreements between the Society and the new company. Sligo Rovers will always be the Bit O’Red, and the club’s heritage will have a prominent place in the new stadium, including a club museum and heritage displays in supporter hospitality areas.
I volunteer for Sligo Rovers – will the proposed changes affect this?
Most certainly not. Volunteerism is the lifeblood of our club and will continue to be so. Your help will still be needed and valued to sustain our community club.
The Need for Change
Why are these changes needed?
The League of Ireland has become increasingly competitive, particularly for member-owned regional clubs like Sligo Rovers. Privately funded clubs, especially those in larger population centres, have greater access to revenue streams, resources and players, and have reduced travel overheads.Sligo Rovers’ operating budget and operating costs have doubled in the past five years, while volunteer fundraising and existing commercial income are increasingly stretched. Borrowing to fund the club is neither sensible nor sustainable. The current financial model is no longer sustainable and the changes proposed will help us generate the resources and investment needed for our teams and academy to be competitive at the elite level of soccer in Ireland. The proposed structure will allow the club to modernise, grow its revenues and create the option to attract minority investment in the new company in the future.
Is this because of the club’s current league position?
No. These are long-term changes designed to secure the club’s future as it approaches its second century. They are not a response to the results of any one season. The stadium development and proposed restructuring will proceed as planned. The restructuring process will not detract from the club’s football operations. Everyone at Sligo Rovers remains fully committed to retaining our Premier Division status this season.
How the Decisions Will be Made
How will these changes be decided?
The Society is a member co-operative and operates on the principle of one member, one vote. Any changes to the Society and Sligo Rovers will be decided by its members. The Society Committee, chaired by Tommy Higgins, will present the proposals at two special general meetings, in September and October, with members expected to make a final decision at the October meeting.
How many members are in the Society?
The Society currently has just under 400 members. A further 600 people approximately are long-term contributors to the Friends of Sligo Rovers 500 Club and may be entitled, under the Society Rules, to apply for membership. All of these prospective members are being written to by the 500 Club in mid-August, advising them of their potential entitlement to membership and providing details of how to apply to the Society.
Why are new members being admitted now, shortly before an important vote?
This is the culmination of a long-running process to update the Society’s share register. Before a vote of this significance takes place, it is important that the Society’s membership register is as accurate and complete as possible, and that everyone entitled to participate has the opportunity to do so.
Who can attend the general meetings?
Attendance is limited to Society shareholders and those entitled to membership privileges under the Society’s Rules. Notices will be issued to everyone eligible ahead of the meetings. Eligibility to attend will be strictly observed, and a copy of the meeting notice will be required for admission.
I think I may be entitled to membership. What should I do?
Prospective members will be written to in the coming days and will be given details on how to apply for membership of the society if they are interested. Applications can be completed online using the link provided in the letter, returned by post using the enclosed form or the form can be emailed to the club. Please apply promptly, no later than Friday, 4th September, to allow time for your application to be considered so that you can be sent a meeting notice. If you do not receive a letter and believe you may be entitled to membership, please contact us at membership@sligorovers.com or call 071 9171212, selecting option 8 to leave a message at any time. Membership enquiries are being handled by a dedicated volunteer team and not by staff at the Showgrounds. Any enquiries made at the Showgrounds will be referred to this team. Please allow a few days for a response. Every message will be answered. Applications are considered by the Committee. Those approved for membership will be entitled to attend the general meetings and have their say on the proposed changes, and will receive notice to attend at least 14 days before the scheduled meeting.
What are the voting thresholds at the two meetings?
Each meeting requires a quorum of 50 members. At the first meeting, each resolution requires 75 per cent approval to proceed to a final vote. At the second meeting, a simple majority of 50 per cent plus one will confirm approval of the resolutions.
What happens if members do not approve the proposals?
If the proposals are not approved, the Society will continue under its existing structure. The Committee believes the proposed changes are in the Society’s best interests, but the decision to approve the restructuring changes rests entirely with members.
Has legal advice been taken?
Yes. Legal advice has confirmed that the proposed changes comply with the Society’s Rules and the laws governing Industrial and Provident Societies.
Does the FAI have any say in the proposed changes?
The FAI has a pivotal role in the licencing of clubs for the competitions it organises. The club has consulted with the FAI, which has outlined the important licensing requirements that will apply. Licensing transfers are only considered by the FAI in the League of Ireland off season (mid-November to mid-February). If the proposed changes are approved by members, an application to transfer the club’s FAI licence to the new company will be made, with the hope that the transfer will be approved by the FAI before the 2027 season begins.
Could this cost Sligo Rovers a European place under UEFA’s rules on change of legal entity?
UEFA’s “three‑year rule” is designed to prevent clubs from artificially altering their legal or operational status to gain a competitive advantage. In our case the changes proposed are for genuine operational and commercial reasons and the club can seek a UEFA dispensation should it qualify for Europe in the 3 years after the changes take effect.
What is the timescale?
The immediate focus is on securing member approval at the special general meetings in September and October. If approved, the restructuring and FAI licensing process would then be completed during the close season, ahead of the new season in February 2027.
Sligo Showgrounds & the New Stadium
What happens to Sligo Showgrounds if the restructuring is approved?
Nothing changes. The Society will remain the tenant in the Showgrounds until June 2064, at which time a new lease can be sought. The Society will continue to manage the facilities and lead the development of the new stadium. The Trustees, custodians of the grounds, are supportive of the proposed restructuring. The new company providing football operations will license use of facilities at the stadium including the 2 pitches, changing rooms, officials rooms, medical and anti-doping rooms, gymnasium, broadcast facilities, ticketing facilities, merchandise shop and coach/staff parking. As the Society itself is remaining unchanged the €16.4 million Large Scale Sport Infrastructure Fund grant and the €6.0 million in funding approved through the Immigrant Investor Programme are unaffected. The Government grant also places long-term protections on the Showgrounds, including requirements to maintain the stadium and its continued use as a multi-sport facility for at least 25 years from its completion.
What is the status of the new stadium project?
The Committee is working to complete the final legal approvals with Government Departments. All local authority approvals, including planning, fire safety and disabled access, are in place, and the detailed pre-tender design is nearing completion.The Society expects to publish the stadium delivery programme by October, with the tender process to follow. The stadium remains on course for delivery in late 2028, Sligo Rovers’ centenary year.
Future External Investment
Is there a new investor coming into the Society or the club?
There is no current proposal to bring a new investor into Sligo Rovers.
How might an investor come into the club in future, and when?
The new company will provide a structure for a future strategic partnership and investment in Sligo Rovers, with the Society retaining majority control. Any investment proposal will be put to Society members for approval. There is no current plan to bring in an investor, but the Committee believes the process to assess investment opportunities could begin as early as 2027 if the proposed changes are approved.
Would the Showgrounds or the Society itself form any part of a future investment?
No. Any future external investment will be in the new company, not the Society or the Showgrounds. The new stadium development at the Showgrounds is fully funded and does not require external investment. The Society will remain a 100 per cent member-owned co-operative.
