A statement in the last hour from Waterford FC owner Lee Power states that the club has been sold to new ownership.
Power came into the club in 2016 with the team playing first division football.
In the past year, the club has seen five managers pass through the doors of the RSC.
The statement from the now-former owner reads as follows -
"I am confirming that Waterford FC have sold 100% of its shares to R & S Holding Ltd who are a UK-based company headed up by Richard Forrest. Earlier in the year, Richard purchased 33% of the football club and the remaining shareholding was agreed over the weekend."
"I would like to thank all the staff, supporters, and businesses of Waterford that have supported me and the football club throughout my time."
"I would also like to think that I have left the club in a much better place than when I purchased it in 2016 when we were in the first division, attracting crowds of 200 and close to going out of business. After a lot of hard work and substantial investment, we managed to get the team back to the Premier League and also qualify for Europe, only for that to be taken away from us."
"Ever since that decision was made by UEFA it has left a bitter taste in my mouth and it was difficult for things to stay the same. However, yet again last year it came down to the final game where a victory would have seen us back in Europe but it was not meant to be."
"I have managed to steer the club through COVID and cover the substantial losses that came with that and felt that now is the right time for me to move over and let someone else take the club forward."
"Me and my family will always continue to support and help the club in any way we can.
Once a Blue always a Blue
Lee Power"
