Purplebricks’ co-founder Kenny Bruce has outlined plans to invest a substantial amount of money in his local football team, Larne Football Club in Northern Ireland.
The property entrepreneur took part in an engagement session with supporters in which he described his proposals to invest in both the team and Inver Park, where the club plays its home matches.
Bruce, formerly a resident of Larne, received overwhelming support for his proposals at Larne FC’s EGM.
The plans involve a substantial investment, with a new limited company formed to oversee the running of the club.
A supporter who attended the engagement session told Larne Times: “It is a very exciting vision and it was very well received. He is planning investing in both the stadium and the squad.”
Fans took to social media to continue the discussion with one posting: “The plans in place are a joy to look at.”
As part of accepting the proposal, the new board agreed to share a document that outlines the vision for the commercial and football side of the club.
The proposed investment, understood to be a six-figure sum, is a turnaround in fortunes for the club which during the summer had to temporarily close Inver Park due to safety concerns.
The Belfast Telegraph’s Sunday Life reported that the investment would amount to around £500,000.
Multi-millionaire businessman Bruce is originally from the Co. Antrim town. He has made his fortune in the online property market with Purplebricks.
Larne chairman Archie Smith said: “We had some very positive discussions and the bottom line is that Kenny wants to see his local club and town flourish.”
It is understood that part of any financial deal with Bruce includes the proposed purchase and renovations of the Inver Park as well as investing in players.
Smith added: “There are more discussions to be had, but we would love Kenny to become involved in helping us to move everything forward. Ultimately everyone’s ambition is to get Larne back into the Premiership.”
There was speculation that former Larne players Graham McConnell and Sammy Smith would be part of a takeover bid with Bruce to oust the Inver Park board.
But according to Sunday Life, Bruce is content to work with the current regime.
There is resentment from many supporters who feel they have been kept in the dark about matters at the club around the academy-style plans.
Multi-millionaire Bruce is said to want to give something back to his home town.
DealMakerz is pleased to see Kenny Bruce giving back to the community.
He can certainly spare the cash – earlier this year Kenny and his brother Michael sold large chunks of their shares in Purplebricks, netting them an impressive £17 million in cash.
Kenny will certainly be racking up the air miles to attend matches, as he now lives in LA where he’s overseeing Purplebricks’ expansion into the US.