Cliftonville members have voted in favour of a special resolution to authorise the club’s management committee to enter formal negotiations with the Toronto Investment Group [TIG].
The vote at Thursday’s EGM means the proposed takeover by TIG is back on, after the door appeared to have been shut in January with the Canadian consortium taking their offer off the table.
It appeared a deal was close to being completed 12 months ago when then Cliftonville chairman Kieran Harding was given permission by members to enter negotiations, but would later put a pause on those talks which led to TIG taking a step back.
However, a fresh vote on Thursday achieved the 75% required to permit new chairman Kevin Crossan and the board to reopen negotiations.
There had been calls from key figures to back the vote including former chairman Jim Boyce and ex-players George McMullan and Peter Murray, which members did in sufficient numbers and may now lead to a takeover that would serve as a major boost to the club’s finances.
In a statement, Cliftonville confirmed the special resolution had carried, “authorising the management committee to enter into formal negotiations with the Toronto Investment Group”.
“Consistent with the Club Investment Governance Process outlined to members earlier this month, this authority permits the management committee, supported by appropriate professional advisors, to explore and negotiate potential terms in the best interests of the club,” the statement read.
“The club’s legal representatives will now engage with their counterparts at TIG on the next step of the process.”
