Club Takeover
Murray had stated that he was willing to sell his shares in the club if an investor demonstrated a willingness to invest considerable money in the club - not simply purchase his shares. In 2006 former player Niall Quinn made an offer for the club, backed by a consortium of Irish businessmen. In order to for this to proceed Murray resigned as chairman, enabling the Drumaville Consortium takeover to occur, although he remained on the board in the interim.
At a press conference on 28 June 2006 he confirmed that the club would be sold to Quinn's consortium for £10 million . Murray received £5.7 million of the total, although he has stated that the extensive negotiations were in order to ensure the bid was in the interests of the club and not, as speculated by the press, for his own financial gain. This assertion was supported by the relatively low price at which he allowed his controlling stake to be bought. On 3 July 2006 the Drumaville Consortium bid was officially confirmed and the offer of £10 million accepted, with Quinn having the unusual dual role of club Chairman and Manager. Murray was appointed as the club's Life President by the new owners.
He was knighted in the 2010 Queen's Birthday Honours.
Read more about this topic: Bob Murray (businessman)
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