Hoops' delight as rescue package set for go-ahead
15/07/2005 - 16:55:32Shamrock Rovers’ future has been boosted as the club’s creditors accepted settlements that, if approved by the High Court next week, will see some of the club’s debts wiped out.
Examiner Neil Hughes met with creditors last week to present the terms of the rescue package proposed by the 400 Club and the majority voted in favour the deal.
Hughes will now make his report to the High Court on Monday.
If approved the 400 Club would then become owners of the club along with Australian-based businessman Ray Wilson, with a plan to pump €750,000 into the club.
Already, €167,000 has been put into the club. The remainder will be used to pay off debts and run the club for the rest of the season.
