Dundalk FC has tonight confirmed the sale of the club to a US-based consortium which also has a stake in an English Premier League club.
The group is led by an investment company based in Chicago - PEAK6 -, according to the club's website which also says the group includes "investors with significant experience in football on both the commercial and playing sides."
In 2015 PEAK6 bought a 25% stake in AFC Bournemouth and they also have two representatives on the English club's board.
"We’ve been following the incredible success of Dundalk FC over the past few seasons and have spent months assessing this opportunity, attending games and getting to know the club," said spokesman Jordan Gardner who states on his Twitter account that he is also a minority owner in Swansea City FC.
"What Stephen Kenny and the players have accomplished under the stewardship of Andy Connolly and Paul Brown is nothing short of remarkable. We are excited to take up the reins and help build on the club’s success. We are confident that with all of us working together there will be many more good days and nights ahead for Dundalk FC," he added.
Former co-owner Brown is condfident that the sale will help the club progress.
"We have always said that we would only step down if we found the right kind of owners for the club and in this consortium we believe we have done that. We are confident that they will take Dundalk FC to even greater success in the coming years."
The club say that both Paul and Andy will continue to support them in the future, acting as honorary ambassadors.