Louth TD Ruairí Ó Murchú has welcomed this evening’s news that Dundalk FC owner Brian Ainscough is in advanced talks with investors to secure the club’s future but says the ‘Sword of Damocles that hangs over Oriel Park needs to be sheathed for good’.

The Sinn Féin deputy, who is a season ticket holder at Dundalk FC, says an interim deal is imminent that would see a consortium, that includes a Louth-based businessman, taking over the reins at the club.

Deputy Ó Murchú said: ‘This morning, I said a way forward was very difficult, but not impossible. I am very happy to learn that the 5pm deadline, which was believed to be the time that Mr Ainscough was to put the club into a no-return scenario by liquidating it, has been passed and he has indicated that he will not do that.

‘I believe an interim deal is imminent that will allow the club to carry on to the end of the season. We need to make sure that this is concluded and we move onto the next stage. 

‘What has been incredible, but not surprising, is the amount of goodwill and love shown to the club over the last few days.

‘It is embedded in the hearts of Dundalk people and those who can, have stepped up. There is a considerable number of people who have put their money where their mouth is but we are only at the beginning.

‘While this intervention is warmly welcomed, we need to have a full deal in place as soon as possible, so that a sustainable ownership model is created that can bring the club confidently into the future and ensure the integrity of the League of Ireland.

‘Whether the club enters the SCARP (Small Company Administrative Rescue Process) now or at the end of the season, remains to be seen but the Sword of Damocles that hangs over Oriel Park needs to be sheathed for good’.