Sport

Waterford FC reportedly up for sale for second time in 12 months

Waterford FC have reportedly been put up for sale again, despite only being purchased by Richard Forrest last year.

The club are currently owned by R & S Holding Ltd - with Forrest having bought the club from Lee Power in June 2021.

The Blues have been valued at a figure of  €1.3 million.

The42 are reporting that a prospectus has been circulated to prospective buyers of the club by English-based sports advisory firm Oakwell - who list Manchester City and Leeds United among a number of high-profile clients.

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The prospectus allegedly states that the club are close to agreeing a 50-year-lease with Waterford City & County Council for the continued use of the RSC; while it also touches upon the fact that the Blues are free of any bank debt - while boasting a top academy. It is also believed that the club are working upon establishing a relationship with former Premier League champions Blackburn Rovers on academy level.

The document also cites 'the unavailability of a number of first-team players due to Covid' as the reason for their relegation last season.

The Blues have only just appointed Englishman Danny Searle as their new head coach in the past week - following the sacking of Ian Morris just ten games into his tenure.

Searle's first game at the helm is at the RSC tomorrow night in a league clash against near-neighbours Bray Wanderers.

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Waterford FC declined to comment when contacted by WLR Sport. Other club sources have also made no comment.

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