Blues future secure for now as owner Lee Power commits for another season
Waterford FC’s future is secure after its chairman announced he is to continue financing the club.
Lee Power, the owner of the Blues, confirmed in a statement released this morning he will continue to fund the Premier Division club but made an appeal to supporters and local businesses to get behind the team and add their financial weight.
Waterford boss Alan Reynolds will continue in his position after signing a new contract for next season, the statement also confirmed.
There has been much speculation both Power and Reynolds may end their relationship with the club over off-field issues regarding European football and a spat with the FAI. This morning’s news comes as a huge relief to Blue’s fans.
Power’s continued financial support was in doubt following the FAI’s decision to pull Waterford FC from the Europa League this season and replace them with Dublin’s St Patrick’s Athletic.
That decision by the FAI, and failed attempt to have it overturned in the Court of Arbitration left Power considering his involvement with the club and Irish football.
The Blue’s chairman is also the chairman and owner of English League Two outfit Swindon Town.
In the statement released today on Waterford FC’s website, both Power and Reynolds committed to the 2020 season with the Blues.
“After lengthy meetings with everyone at the club I have decided to finance the club for the next season.
“As one person cannot do this alone for the long-term future,” Power said, “I personally ask everyone from the supporters, supporters club and businesses to back the club.
“I understand the team did not win as many games as previous seasons and it was disappointing to see the huge drop in attendance. But we’re now looking forward to the new season.
“Therefore, I am pleased to announce Alan Reynolds has signed a new deal with the club and we look forward to continuing our football relationship. Alan has been busy getting ready for the new season and we will be announcing new signings over the next few days.
“Finally, I would like to thank everyone at the club, academy, blues supporters club, sponsors and the loyal fans for the support over the last season.
“We need every one of you in whatever way you can to support the ongoing future of Waterford FC,” Power concluded.