independent

Sunday 20 April 2014

Former director of Limerick FC suing FAI over investment

A FORMER director of Limerick Football Club is suing the Football Association of Ireland (FAI) over what he says are losses on his investment

John McCarthy III, who was also chairman of the club and previously promoted high profile friendly games in the US, claims he lost about €280,000 as a result of his purchase seven years ago of a company called Limerick Thirty Seven FC Ltd, operators of Limerick FC.

The High Court has heard the FAI is to seek security for costs of the case if his action goes ahead.

Mr McCarthy, an Irish American lawyer from Princeton, resigned in November 2009 as a director Limerick FC.

He claims he lost his entire investment in less than two years.

His claim is for damages for alleged breach of contract.

The action is against the FAI and a number of individuals including CEO John Delaney;FAI commercial director, Rory Smyth; former internal compliance officer at the FAI, Padraig Smith, the former FAI head of league marketing and promotion, Noel Mooney and current owner Patrick O'Sullivan.

The defendants deny the claims.

Mr Justice Michael White adjourned the case to  February 6 next when the application for security for costs will be made.

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