Cork City have confirmed that Preston North End have bought the sell-on transfer clauses for Alan Browne and Sean Maguire but added that they have not entered into a formal partnership with the Championship club.
Although City have not released figures, it’s believed that the deal is worth around €500,000 to the club.
In a statement to its members, the Cork City board said it it had “come to an agreement with Preston North End for the sale of the sell-on clauses for each of Alan Browne and Sean Maguire, which aided the club in securing its Premier Division license for 2020.
“The board also wishes to dismiss reports that a previously unreported tax liability was the primary driver of this decision.
”The board also wish to confirm that CCFC have not entered into a formal partnership with Preston North End, and any further decisions will be voted upon by the membership. That being said, we would like to thank Preston North End and their associates for their endeavors to get this transfer deal over the line over the past number of days.
”The board will continue to work in the best interests of Cork City Football Club and its members, which includes the exploration of any/all potential funding opportunities for the football club, which are ongoing.
“The board will make another announcement over the coming days as it pertains to the club’s current position, and the AGM.
”Most importantly, we are all here to support Cork City Football Club, and our main focus should now turn to supporting our manager, Neale Fenn, and his young and hungry squad as they take on Shelbourne tomorrow night.”