Preston North End owner Trevor Hemmings has decided not to take on the option to buy League of Ireland club Cork City.
Lancashire Post reported this morning that the Lilywhites owner has turned down the chance to buy the Irish club.
As per the report, Hemmings was tabled an offer to purchase the club through a company of his called Grovemoor Ltd back in October.
He was welcomed in by the Cork fans – who own their club – after Preston’s decisions to purchase the sell-on clauses of former Cork City players, and current Preston men Sean Maguire and Alan Browne.
Talks were ongoing between Hemmings and Cork but after some back-and-forth regarding the lease on Cork’s current ground Turner’s Cross, the Preston owner has opted out of the potential deal.
As part of the ‘open-ended exclusive’ deal, Hemmings has the option to ‘revive’ the deal in the future.
Speaking to Lancashire Post, Preston North End adviser Peter Risdale gave this update:
“We’d been talking with Munster FA about having a longer lease. At the moment, the lease is only a short one.
“Cork pay a lot of money to play there and we said we wanted the protection of a longer lease.”
Preston owner Hemmings then is set to keep all his attention on Alex Neil’s fortunes in the Championship this season.
The Scot has endured a mixed campaign so far and pressure was mounting on him at one point – he’d take his side on a three game unbeaten run to ease some of that, but Preston have since suffered back-to-back defeats.
Next up for Neil and his side is the visit of Bristol City later tonight.