Crusaders FC: Irish Premiership club accept investment proposal by consortium including Ian Rush

Members of Irish Premiership club Crusaders have voted overwhelmingly to accept a substantial investment proposal by a consortium which includes Liverpool goalscoring legend Ian Rush.

The IRAMA company, of which Rush is a significant shareholder, were seeking to buy a majority stake in the club.

Members voted 236 for and 36 against to accept the proposal, comfortably meeting the 75% threshold required.

The overall investment in the north Belfast club could reach £2.5m.

A statement issued by Crusaders on their club's Facebook page on Thursday night indicated that the proposal had been accepted following a meeting "at a packed Seaview Stadium".

"The club will now instruct solicitors. It is hoped the transaction will be complete by May 2022," the statement revealed.

Members of the north Belfast club were initially briefed on the proposal at an Extraordinary General Meeting (EGM) two weeks ago and agreed to further consider the proposal and move to a vote after it received a positive response on that occasion.

The move will see Crusaders link up with 15 other Ian Rush Academies.

Major impact

The Crues also hope the investment will help with potential stadium redevelopment and provide links with agents in Asia, France and West Africa to strengthen their first team.

The club envisages the move will help to fully establish their full-time professional set-up and provide an increased emphasis on and platform for youth and developing modern sports science pillars.

The proposals included in the bid involved the formation of a player academy with a strong educational element, a player development strategy and enhanced income streams from football-related and non-football related sources, including selling players on from their academy.

The IRAMA company, which includes former Wales international Rush and several other businessmen, is understood to be buying a 70% share in the Shore Road-based club, which is valued in the region of £750,000.

This sum will then be re-invested by the members, with the consortium understood to be willing to put an additional £1.75m into the club, making the project worth a potential £2.5m in total.

Crusaders members were asked to consider the bid in the context of other clubs in the league adopting full-time models in recent times, the fallout from the Covid-19 pandemic and a desire to challenge for trophies rather than accept a mid-table league position.

A detailed presentation was made at the EGM and it is hoped that a number of the stated ambitions will be in place for the start of next season.

Acceptance of the investment will change Crusaders from a wholly fan-owned club to a shareholder model in which fans would retain a significant holding.

Rush scored a club record 346 goals in 660 games during two spells for Liverpool. He also played for Chester City, Juventus and Leeds United.

He won 73 caps for Wales, netting 28 goals.