Former Irish international Ciara McCormack is set to become the League of Ireland’s first female chief executive, with a Canadian investment firm partnering with her and committing to backing both the the men’s and women’s sides of Treaty United.
The news broke in The 42 yesterday afternoon, and was later confirmed by the club when chairman Conn Murray spoke with Live 95 Limerick this morning.
Discussions between the club and Tricor Pacific Capital took place over a period of nine months, and it’s understood that the Vancouver company will become co-owners alongside McCormack, a current Treaty United player.
Exclusive: Canadian investment firm to buy League of Ireland club with former Ireland international as CEO.
Tricorps Pacific Capital will take charge of Treaty United, making Ciara McCormack the game’s first female chief executive.
Read more:https://t.co/fWfxKGWbef— David Sneyd (@DavidSneyd) October 11, 2023
McCormack, who has eight Irish WNT caps, was brought up in Vancouver herself, although qualified for the Girls in Green via her dad, who hails from Athlone, and her mum, who’s from Cork.
On the other hand, Tricor are majority owner of more than 80 private companies, with a varied portfolio, working in areas such as manufacturing, distribution, food, transportation services, industrial and real estate, although this venture would be their first into the world of football.
Lead by managing director Rod Senft, they emphasise on their website that their “intention is to build and hold our investments intergenerationally to create a lasting impact on the lives of our partners, our employees, our families, and our community.”
They also appear to put focus on long term investment, flexible structuring, and respect for founders with their “deep operational, strategic, financial, accounting and legal expertise.”
Such investment would be enormous news for the Limerick club, given their predecessor in Limerick FC disbanded just three years ago in 2020, while their women’s club currently sit in 10th out of 11 teams in the Women’s Premier Division, and their male counterparts are in sixth place in the First Division, the second tier of the League of Ireland men’s game.
Excited to share this news + so grateful to my partners at Tricor Pacific Capital. I know first hand all the incredible volunteers, coaches, players fans + people @TreatyUnitedFC + can't wait to build something special on + off the field that the whole community can be proud of https://t.co/U16hwmmIy5
— Ciara McCormack (@ciaramccormack) October 12, 2023
What did the club have to say about the investment and McCormack?
Speaking with Live 95 FM this morning club chairman Conn Murphy expanded on the reasonings behind the decision.
"To put it in a wee bit of context we started four seasons ago with the view to bring League of Ireland soccer back to Limerick and the mid-west…our ambition was very clear, how do we create a platform for young people in the mid-west?” he said.
"We said there’d be a five year horizon from the start…We said from the start that this club could be more, but it does require a level of investment.”
Reiterating again that the deal is on the "understanding of investment”, he went on to say how Treaty United has transitioned from a non for profit to a limited company over the last number of weeks, reflecting how "you’re looking at the professionalisation of the management and running of the club, along with the football itself."
Treaty United club chairman Conn Murray will be live on @Live95Limerick this morning just after the 9AM news to talk to Joe Nash.
Be sure to tune in!
📻 https://t.co/JQCDjO92oU pic.twitter.com/NnQDtSpxft— Treaty United FC (@TreatyUnitedFC) October 12, 2023
Murphy clarified that the teams will continue to play at the Markets Field and that he "can see no reason why" there would be major changes regards to their management and player personnel, perhaps illuding to Alban Hysa (women’s team manager) or Tommy Barrett (men’s team manager) positions’ at the club.
"This is a future that must be sustained, not rushed" he said.
He then thanked all of those who had supported the club over the years and that he hopes that pool too will enlarge over the coming period.
"I think we're at the start of something very important and very exciting" he said.
And on his own future, and the board's?
"I'm certainly stepping away at this point in time...I hope that others will be remaining because their experience will be absolutely critical at this point in time," Murphy said.
It was also outlined that Tricor Pacific Capital, as well as McCormack, will brief the public as to the new look board and future ambitions in the coming weeks.
📻Treaty United club chairman Conn Murphy is on @Live95Limerick now, speaking about the sale of the club to Ciara McCormack and the investment firm Tricor Pacific Capital.
🗣️“We said from the start that this club could be more, but it does require a level of investment”— Alanna Cunnane (@acunnane10) October 12, 2023
