Cash boost to safeguard Glentoran's future
Christmas has come early for beleaguered Glentoran thanks to a major cash investment which is set to clear the huge debts at the Oval and pave the way for the club’s historic move to Titantic Quarter.
It has been a desperate few years for the east Belfast outfit whose serious financial problems have seen them almost going out of business and in recent months unable to pay their players.
Now in a stunning development that will cheer all supporters of the Glens, current sponsors McLean’s boomakers are going to play Santa Claus and provide a sackful of money to safeguard the club’s future.
The substantial investment is expected to eventually clear debts of £1.5m, ease genuine worries about whether the club will be around in years to come and allow a move to a new stadium to go ahead.
There has been speculation for the last decade that the Oval has been greatly coveted by the Titanic Quarter project as a gateway to expansion in that area and it is understood all this ties in with the announcement of a financial rescue package being unveiled inside Glentoran’s boardroom today.
That boardroom has seen a few comings and goings in recent years. Expect more on the back of this deal.
It’s been a long time since Glentoran followers have had a good news story to read with the most recent embarrassing episode coming last month with players refusing to train after their wages weren’t.
This rescue package, however, will feel like the best Christmas present possible.