Glentoran: Takeover of East Belfast outfit now completed, reveals club
Glentoran have revealed that the takeover of the club by a UK-based consortium has now been completed.
A statement from the club on Friday said the investment would ensure a "new era" at the East Belfast outfit.
In May, the then proposed takeover was supported by 96% of club shareholders at a club EGM.
Friday's club statement said the takeover would enable manager Mick McDermott to "strengthen the team ahead of the new season".
McDermott and club coach Paul Millar are both part of the consortium led by British-Iranian businessman Ali Pour.
"Completion of this investment deal is a significant milestone and marks a new era for the club," said McDermott.
"We can now be serious about bringing the best available players to Glentoran, succeeding both domestically and in Europe, and re-establishing the club as one of the giants in football in Northern Ireland.
"Anyone who knows anything about football knows that the basis for success at any club is financial stability - and that's where we are now at Glentoran for the first time in a long time."
The Glentoran manager said the club will "cast the net wide - including beyond Northern Ireland" in the search for new players.
"In addition, we plan to invest significantly in some of the facilities at the Oval to ensure our players benefit from the most professional environment possible.
"We're realistic about the road that lies ahead - it will take time to climb back to the top - but we have the ambition, the vision and now the financial backing to do exactly that."
Glentoran chairman Stephen Henderson said the club's board had worked hard to "significantly reduce the debt millstone around the club's neck".
"There's a tough season ahead as we continue to compete with several top-quality local teams with big squads, but it's the start of an exciting new chapter for Glentoran and we very much look forward to what the future holds for the club and our fans," added the Glens chairman.