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Club News

Second LOI Received

8 March 2024

Club News

Second LOI Received

8 March 2024

Following Thursday night’s Extraordinary General Meeting (EGM), where shareholders approved the issue of nine million new Class A shares, Rochdale AFC can confirm it has received a second Letter Of Intent (LOI) to purchase the club from The Football Club LLC (TFC).

TFC’s statement is as follows:

The Football Club LLC Announces Bid To Acquire Rochdale AFC

The Football Club LLC (TFC) is pleased to announce that it has issued a Letter of Intent (LOI) to purchase Rochdale AFC, a historic football club based in Rochdale, England. TFC is a collective of professionals from the U.S. and U.K. with a love of football and expertise in management, property development, tech entrepreneurship, finance, data science, business development, law, marketing, and more. It is led by two passionate footballers Justin Corrado and David Dwyer.

"Rochdale AFC has a storied legacy and a loyal fanbase, including devoted shareholders who have made a sacrifice in support of their club,” said Justin Corrado, Managing Partner of TFC. “Our goal is to rejuvenate Rochdale AFC in partnership with the fans and community. TFC proposes to provide financial investment, support for players and coaches, and to put a football and business plan in place that will drive results on the pitch.”

TFC looks forward to releasing more information on its strategy for the club on 14 March 2024. It includes a plan to return 5% of the club’s shares to the Dale Trust. They also plan to grant the Dale Trust a golden share, which would allow them to protect the name, colors, and badge of the club in perpetuity.

Justin and David worked with club leadership to develop their proposal over two months. In addition, they spent time in Rochdale in early February attending a match, meeting the club directors, and watching the team train. They look forward to returning to discuss their proposal and expand on their plans for the club with the board and the Dale Trust.

“As a Lancashire lad, I first stepped into Spotland when I was 10 to watch Dale play Manchester United. I recently attended the games against Dag & Redbridge and Wealdstone. I’ll be in the Sandy Lane End on Saturday, and I’m particularly looking forward to the away game at Oldham on 6 April,” said David Dwyer, Partner at TFC.

Adding, “TFC isn't driving a bottom line-based strategy across a portfolio of clubs – we’re a group of business leaders who prioritize transparency and accountability who are committed to seeing Rochdale AFC succeed.”

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