Mystery donor wipes out over €500k Athlone stadium debt

A mystery backer has invested over half a million euro to wipe-out all remaining debts following the construction of Athlone Town stadium in Lissywollen. Following days of rumours locally, Athlone Town Stadium Ltd spokesperson Tom Burke confirmed the wealthy backer, who wishes to remain anonymous, has joined the board of Athlone Town Stadium Ltd and that his staggering contribution - believed to be in the region of €550,000 - makes him the company's new major shareholder. When speaking to the Westmeath Independent about the deal, Mr Burke insisted the stadium has not been bought outright by the investor, instead saying the investor is now the company's major shareholder. Mr Burke said there was two other shareholders in the company, and assured supporters the investor's intentions were "genuine and transparent", and that his only wish was to see Athlone Town FC continue to play football in Lissywollen for many years. The company behind the stadium has no connection with the football club so this news doesn't have immediate consequences for Athlone Town FC. However, following the investor's amazing act of generosity, hopes are also high that the football club, and its playing side, could also benefit from the investor's good-will in the very near future. "This person has an interest in football, Athlone Town FC and the stadium," said Mr Burke. "Nothing is going to change in relation to the stadium's main function, which is to provide a permanent home to its tenant, Athlone Town FC. The investor has no intention of doing anything else with the stadium. He's in a position to assist and is completely genuine and honest about the whole thing. Nobody should have reservations about this, we're talking about an unassuming and decent guy that just wants to help. It's an exciting development for football in Athlone," said Mr Burke. Mr Burke said the stadium company had successfully paid-off "75 or 80 per cent" of the total cost of building the ground, which officially opened in 2007, but he said they had been "struggling" to pay the remaining debts. "The total cost of constructing the stadium was €4.5million," he said. "We received grant-aid of just over €2.5m. We had to raise the rest ourselves, and received tremendous support from the local community in that regard. The stadium company continues to operate, and the current members remain in-situ. The investor has been suitably impressed by the calibre of people on the Stadium committee, and has expressed a desire for them to continue as normal. This is a very positive development for football in Athlone," added Mr Burke. Mr Burke said that pressure had been mounting recently to repay various bank loans, but said the stadium itself had not been at risk. Mr Burke could not confirm or deny rumours the investor also has intentions to invest in the playing side of the club, but the Westmeath Independent has learned that a meeting between the investor and the football club committee is expected to take place in the next few weeks. "My only dealings with the investor relate to the stadium, and I'm not aware whether he has plans to get involved further," said Mr Burke.