League of Ireland: The Financial Problems

Defeated Archie Meekison (Irish Independent)

Irish football is not a profitable business. Of the eight clubs currently in the premier division who publicly released their 2025 financial statements, only two turned a profit, with Shelbourne’s only €2,196¹. Bohemians are the outlier, ending the year with an operating profit of €1,524,915². Bohemians are a completely fan owned, co-operative club that has made itself known as being just as much a football club, as a social and community force. Through their Football Social Responsibility and Community Strategy, they have focused their efforts on building the club alongside the community it resides in. They have developed their reputation as a pro LGBTQ+, pro migrant and pro feminist club through numerous projects and events, most notably in their women’s game vs. Palestine in 2024.

What has this meant for Bohs?

They’re able to sell a lot of jerseys.

This is not the case for all other League of Ireland teams, privately owned or co-operatively. Some teams simply don’t have the local population or means to sustain such a profit at the highest level. One such club is Sligo Rovers, who after a 26-year stint in the premier division will be relegated this year to the first division. This has led the members of the club to approve the change from their current 100% co-operative model to one where private investment would be allowed while maintaining member control³. This is essentially the system which clubs in the German Bundesliga operate under, known as the 50 + 1 rule, where 50% + 1 member of the club is owned by the fans, and the other 50% by private investors who can reap the financial rewards without complete control of the club. This system generally works in Germany as 13 of the 20 Bundesliga teams ended the 2024/2025 season in the green⁴. But German football is much commercially greater than in Ireland, so can it work for Rovers?

While the club has prided itself on its fully owned structure for its entire existence, it may be time to seek outside investment if they want to survive in the modern footballing climate. We have seen Sligo regularly lose their best players in order to fund the club, such as the club record sale of Irish international Owen Elding to Hibs or more recently club captain Will Fitzgerald to Shamrock Rovers. These sales require luck and are not consistent enough to sustain the football club. Rovers recorded a deficit of €45,000 in 2025⁵, which could easily be offset by private finance. This would allow them to invest in their ongoing stadium plans, improved training facilities and a team that could challenge for European football. What they may lose with this investment is something maybe more important, something lost in modern football and society, something intangible; community.

It is not only Sligo who are struggling to remain financially independent. Their local rivals Finn Harps are close to finalising a deal for the club to be bought by Filipino ex-footballer Freddy Gonzalez. Harps finished at the bottom of the First Division this year, with negative assets upwards of half a million Euro⁶. It looks clear that a fully fan owned model is no longer sustainable for Irish clubs outside of the populous capital.

So where does Irish football go from here? Full privatisation of all clubs and less fan involvement? I think this is naïve. Taking Bohs as an example, it seems that when fans feel involved and connected to their club they contribute more, whether that is through volunteering or more importantly purchasing club products. Irish clubs must therefore balance survival through means of financial investment while maintaining fan involvement and commitment, because in the end, is it not the fans who make football football?

Sources:

1. Shelbourne FC 2018 Limited. 2025. “Abridged Financial Statements for the Financial Year Ended 31 December 2025.” Financial report. https://shelbournefc.ie/wp-content/uploads/2026/04/AbridgedAccounts_31stDecember2025-signed.pdf.

2. An Cumann Peile Boiteimeac, CTR. (The Bohemian Football Club CLG). 2025. “Abridged Financial Statements for the Financial Year Ended 31 December 2025.” Financial report. https://bohemians.ie/wp-content/uploads/2026/03/BohemianFootballClubAbridgedFS311225.pdf.

3. “Sligo Rovers to Consider New Structure | Member Owned Co-Operative to Remain Central Under More Focussed Structure – Sligo Rovers.” 2026. Sligorovers.Com. August 14, 2026. https://www.sligorovers.com/membership-article/.

4. Bundesliga. 2026. “Record Season 2024/25: German Professional Football Surpasses Six Billion Euros in Revenue for the First Time.” Bundesliga.Com. Bundesliga. January 26, 2026. https://www.bundesliga.com/en/bundesliga/news/record-revenue-2024-25-season-six-billion-euros-35756.

5. “2026 Annual General Meeting Update – Sligo Rovers.” 2026. Sligorovers.Com. April 29, 2026. https://www.sligorovers.com/2026-annual-general-meeting-update/.

6. McCahill, Clare. 2026. “Finn Harps Takeover / Investment FAQs.” Finn Harps FC Official Website – Donegal’s Senior League of Ireland Football Club. July 27, 2026. https://finnharps.ie/finn-harps-takeover-investment-faqs/.