Waterford under new ownership as Lee Power moves on

Waterford FC is under new ownership after Lee Power announce he has sold the club to a UK based company.

The company are headed by Richard Forrest, who purchased 33% of the club earlier this year. His company, R & S Holding Ltd, now fully own the Blues.

Lee Power announced the sale of the club in a statement on Friday morning.

"I would like to thank all the staff, supporters, and businesses of Waterford that have supported me and the football club throughout my time,” he said in the statement.

“I would also like to think that I have left the club in a much better place than when I purchased it in 2016 when we were in the first division, attracting crowds of 200 and close to going out of business. After a lot of hard work and substantial investment, we managed to get the team back to the Premier League and also qualify for Europe, only for that to be taken away from us.”

“Ever since that decision was made by UEFA it has left a bitter taste in my mouth and it was difficult for things to stay the same. However, yet again last year it came down to the final game where a victory would have seen us back in Europe but it was not meant to be.

“I have managed to steer the club through COVID and cover the substantial losses that came with that and felt that now is the right time for me to move over and let someone else take the club forward.

“Me and my family will always continue to support and help the club in any way we can.”