Members of Galway United will vote next week on a proposed takeover of the club by the Comer Group, whose fortune is estimated at over one billion euro.
The Airtricity League First Division side already receive six-figure support from the brothers Luke and Brian Comer as part of a sponsorship agreement which is crucial in the running of the club.
However they have now moved to attempt to take an 85% share of United.
Four years ago the Comer Group acquired a site in Mountain South, Athenry with the view of the future development of a training facility for football, although there have been delays to the project.
As it stands the club is a co-operative and run by its members.
A meeting has been scheduled for Wednesday 30 March where they will vote on whether to give the Comer Group the option to purchase the majority share.
No details were given of the terms of the proposed sale in the letter but more will be furnished to members in the coming days.
United have been in the First Division since 2018, although they look to be in the hunt for promotion this season as they sit level on points with Cork City at the summit.
With spending rising through the top-flight, a promotion to the Premier Division would require greater financial resources.
Private investment has become a feature in Irish football in recent years. Celtic owner Dermot Desmond and Ray Wilson each own 25% of league champions Shamrock Rovers with the club's members retaining 50%.
Derry City, considered the main challengers to the Hoops this season, have retained member ownership but receive significant financing from billionaire chairman Philip O'Doherty.
Last month Shelbourne revealed they have secured a new "significant" equity investment from Closebreak, a US and Irish-based consortium.
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