Latest news with #DigitalAthleteVentures
The 42
a day ago
- Business
- The 42
Cobh Ramblers insist takeover 'reflects our commitment to the club's future'
COBH RAMBLERS INSIST their takeover from new ownership group Digital Athlete Ventures (DAV) 'reflects our commitment to the club's future' after a turbulent year off the pitch. Confirmation of the deal brings to an end the short-lived tenure of FC32, the investment firm that only took control last October and whose funding has helped Cobh to second in the League of Ireland First Division. In a club statement released this morning, DAV are described as 'a sports and media investment firm founded to empower elite athletes, entertainers, and strategic investors to take ownership positions in professional sports clubs and related platforms.' Advertisement DAV have taken a 90% stake in the club with the takeover led by Ilya Movshovich, Pedro Lombardo (Managing Partner at JPX Investments), and Bryant Clark (Founder of Texas-based Fifty Five South Ventures). Cobh's statement said the new owners are 'backed by several prominent sports investors, DAV combines capital, content, and operational insight to drive long-term value across its portfolio.' Bill O'Leary, chairman of the club, added: 'After months of hard work, the Board is proud to announce this investment partnership. In a highly competitive landscape, securing a deal of this calibre reflects our commitment to the club's future. What set DAV apart was not just their financial backing, but their operational capabilities and respect for the club's legacy and community. Ilya and Pedro have been a pleasure to work with, and we're excited to move forward together.' Cobh Ramblers FC is pleased to announce that 90% of the club has been acquired by a new ownership group Digital Athlete Ventures (DAV) The group is led by Ilya Movshovich, Pedro Lombardo (Managing Partner at JPX Investments), and Bryant Clark (Founder of Texas-based Fifty Five South Ventures).
Irish Independent
a day ago
- Business
- Irish Independent
‘We're excited to move forward together' – Cobh Ramblers vow that new US owners will bring on club
First Division side Cobh Ramblers have officially changed hands again as US-based group Digital Athlete Ventures confirmed they have completed a takeover of the Munster outfit.
The Irish Sun
a day ago
- Business
- The Irish Sun
‘New chapter' – Cobh Ramblers purchased by US-based company under a planned multi-club business
COBH Ramblers are under new ownership after the US-based Digital Athlete Ventures (DAV) purchased a 90 percent stake in the First Division club. The Florida-based investment group have made their first move into football with Ramblers but have plans to build a multi-club portfolio. The announcement comes just four days after Ramblers confirmed FC32 - who acquired the club last November - were no longer involved in the club. But talks with DAV were ongoing for some time with the Florida-based group financially supporting the club it parted company with FC32. A statement read: 'This agreement marks the beginning of a new chapter for Cobh Ramblers FC, centred on long-term sustainability and growth. 'DAV supported the club financially during the transaction process while conducting comprehensive due diligence and collaborating closely with club leadership to shape a shared vision. Read more on Irish football 'DAV brings deep expertise across performance innovation, fan engagement, and football operations, which aligns closely with the club's values and future ambitions. 'Both Cobh Ramblers FC and Digital Athlete Ventures are committed to building a stable foundation for the club's future, with the local community at the heart of their vision. 'Preserving the identity and heritage of the club, while fostering new opportunities for growth and engagement, will be central to this partnership. 'The new ownership group has made clear that community inclusion, transparency, and long-term stewardship will guide their approach from day one.' Most read in Football The new owners will visit Ireland next week to outline their plans for what is their first foray into football, though the group has extensive investment and entrepreneurial experience. The group is led by Ilya Movshovich, Pedro Lombardo (Managing Partner at JPX Investments), and Bryant Clark (Founder of Texas-based Fifty Five South Ventures). RTE pundit's one-liner about Damien Duff makes Joey O'Brien laugh after Shelbourne's win vs Linfield DAV are also investors in motorsports with singer Marc Anthony's outfit Team Miami, while they recently brought in Alexander Jarvis of Blackbridge Sports as an advisor. Jarvis has previously brokered ownership deals including US-based Lenore purchasing a stake in Benfica. And he announced on LinkedIn that his role with DAV is to 'build out a multi-club business.' DAV Co-lead investor Movshovich, said: 'Our commitment to Cobh is long-term - we're here to provide real stability and help the club grow in a sustainable, purposeful way, both on the pitch and behind the scenes.' 1 Cobh Ramblers are currently second in the First Division table and are pushing for promotion Cobh Ramblers chairperson Bill O'Leary added: 'After months of hard work, the Board is proud to announce this investment partnership. "In a highly competitive landscape, securing a deal of this calibre reflects our commitment to the club's future. 'What set DAV apart was not just their financial backing, but their operational capabilities and respect for the club's legacy and community. "Ilya and Pedro have been a pleasure to work with, and we're excited to move forward together.'
RTÉ News
2 days ago
- Business
- RTÉ News
Cobh Ramblers acquired by Digital Athlete Ventures
Cobh Ramblers are under new ownership once again, following US-based group Digital Athlete Ventures taking a 90% stake in the club. This comes after the dissolution of FC32, which took control of the First Division side in October 2024. The multinational group spent big last winter and built a squad that is now second in the table to Dundalk under Mick McDermott, who was signed from Glentoran last December. FC32 planned to build a network of clubs and this fell apart following the acquisition of Spezia Calcio. SKN St Polten, the Austrian side, suffered the most as their funding was cut off immediately, while Cobh were forced to release a statement that distanced themselves from the organisation's issues. Cobh have been searching for investment since and their saviours are US-based Digital Athlete Ventures. The organisation is led by lya Movshovich and Pedro Lombardo of JPX Investments and Bryant Clark, a founder of Texas-based Fifty Five South Ventures. The news was communicated in a press release by the club on Monday, which said the goal of the takeover was long-term stability. Cobh Ramblers chairman Bill O'Leary is thrilled to have the takeover over the line. "After months of hard work, the board is proud to announce this investment partnership," he said. "In a highly competitive landscape, securing a deal of this calibre reflects our commitment to the club's future. "What set DAV apart was not just their financial backing, but their operational capabilities and respect for the club's legacy and community. "Ilya and Pedro have been a pleasure to work with, and we're excited to move forward together." Jim Farrell, a board member at Cobh Ramblers, added: "A massive thank you to our volunteer board and all the other dedicated volunteers. "Your efforts in recent months, along with DAV's support, and guidance from Eric and Alex has been crucial in securing the club's long-term future." Ramblers are just four points behind leaders Dundalk in the table. The club are also the holders of the Munster Senior Cup after their victory over Rockmount in the final in May. The Cork side will open their FAI Cup campaign this weekend with a game against non-league side Bangor Celtic in Dublin.
Irish Examiner
2 days ago
- Business
- Irish Examiner
Cobh Ramblers under new ownership following chaotic end to FC32 reign
Cobh Ramblers' search for investment is over following US-based group Digital Athlete Ventures taking a 90% stake in the club. This comes after a chaotic end to the FC32 era, which began last October with a much-publicised takeover by the multi-national organisation that included two-time Super Bowl champion Lawrence Tynes as one of their backers. They spent big and built a squad that is now second in the First Division under Mick McDermott, who was brought down from Glentoran last winter. The plan was to build a multi-club model but that collapsed following the acquisition of Spezia Calcio in Italy. SKN St. Pölten, the Austrian subsidiary, suffered the most as their funding was cut off immediately, while Cobh were forced to release a statement that distanced themselves from the organisation's issues. Their announcement came as Vice President Paul Francis, who was the face of the original takeover, resigned. Cobh have been searching for investment since, and their saviours are US-based Digital Athlete Ventures. This organisation is led by entrepreneur Ilya Movshovich, Pedro Lombardo, managing partner at JPX Investments, and Bryant Clark, founder of Texas-based Fifty Five South Ventures. This organisation is described as a sports and media investment firm that works on empowering 'elite athletes, entertainers, and strategic investors' to positions in professional sports clubs and related platforms. DAV is backed by 'several prominent sports investors' and is based on the principle of combining capital, content, and operational insight to drive long-term value across its portfolio. This was communicated in a press release by the club on Monday, which said the goal of the takeover long term stability. Cobh Ramblers Chairman Bill O'Leary is thrilled to have the takeover over the line after months of negotiations. 'After months of hard work, the Board is proud to announce this investment partnership,' he said in a statement released by the club. 'In a highly competitive landscape, securing a deal of this calibre reflects our commitment to the club's future. What set DAV apart was not just their financial backing, but their operational capabilities and respect for the club's legacy and community. "Ilya and Pedro have been a pleasure to work with, and we're excited to move forward together.' Jim Farrell, a board member at Cobh Ramblers, added: 'A massive thank you to our volunteer Board and all the other dedicated volunteers. Your efforts in recent months, along with DAV's support, and guidance from Eric and Alex has been crucial in securing the club's long-term future." Ramblers are currently second in the League of Ireland First Division, four points behind leaders Dundalk and they open their FAI Cup campaign this weekend with a game against non-league side Bangor Celtic. Mick McDermott and his players are also the holders of the Munster Senior Cup, after their victory over Rockmount in the competition's final last May at Turner's Cross.
