Cliftonville FC: Reds members vote to reopen TIG talks

Cliftonville members voted in favor of a special resolution authorizing the club’s management committee to enter into formal negotiations with Toronto Investment Group (TIG).

The vote at Thursday’s EGM means TIG’s proposed takeover is back on, after the door closed in January with the Canadian consortium taking their proposal off the table.

A deal appeared to be close to being done 12 months ago when Cliftonville chairman Kieron Harding was allowed to enter negotiations by members, but a break in those talks later resulted in TIG taking a step back.

However, a new vote on Thursday secured the 75% needed to allow new chairman Kevin Crossan and the board to restart negotiations.

A vote of support was called for from former chairman Jim Boyce and key figures including ex-players George McMullan and Peter Murray, which members did in sufficient numbers and could now lead to a takeover that would act as a major boost to the club’s financial growth.

In a statement, Cliftonville confirmed that the special resolution carried, “authorizing the management committee to enter into formal negotiations with the Toronto Investment Group”.

“Consistent with the club investment management process outlined to members earlier this month, this authority allows the management committee, supported by appropriate professional advisers, to explore and negotiate potential terms in the best interests of the club,” the statement said.

“The club’s legal representatives will now engage with their counterparts at the TIG in the next step of the process.”