Anyone deriding Philip O’Doherty for squandering his riches on bankrolling Derry City’s bid for a first title in 39 years should consider the billionaire’s income from interest alone.
By his own admission, the self-made local doesn’t splurge on material goods and was faring well financially even before Vertiv shelled out €1.7bn in 2021 for his E&I Engineering company.
On current Bank of England base interest rates of 3.75%, his largesse earns €63m per annum alone by staying on deposit. If anything, the lolly is probably being diversified to accrue higher returns but the calculation illustrates the clout held by Derry City’s owner.
The League of Ireland’s wealth has in recent years been dependent on progress within European competition.
Shamrock Rovers, by reaching the Conference League phase in three of the last four season, grossed a cumulative €15m, but in comparative terms, they would need to make the knockout stages of the Champions League to rival O’Doherty’s annual income for allowing the bank reinvest it elsewhere.
Derry’s benefactor won’t be able to kick the ball in Friday’s opener against Sligo Rovers but is a facilitator in everything else around the club.
He hasn’t been shy about funding personnel, declaring to manager Tiernan Lynch the availability of the ‘chequebook’ for additions to glamour recruit, James McClean.
From funding a new stand last year, he’s bearing the cost of a new pitch that rids the Ryan McBride Brandywell of its reputation as one of the worst surfaces in the Premier Division.
Laying grass forces City to move across the road to the GAA’s Celtic Park for five, possibly six games, between April and June. Ironically, the maligned 4G artificial pitch will be a cornerstone of the training centre O’Doherty has promised to deliver too.
He’s not the typical hawker seeking a return of investment but despite his deep pockets isn’t in the business of wasting cash either. Last year, he pumped a further €2.3m into his beloved club, atop the €3m from the previous two years combined.
That benevolence will only rise as he’s now officially retired from the engineering business to devote his full professional energies to seeking national supremacy. Not since 1997 have the Foylesiders held that mantle.
Despite the final 2025 table showing a three-point gap to Shamrock Rovers, Lynch hardly laid a glove on the champions in his first season at the helm. McClean’s homecoming, at the age of 36, threatens to improve that outlook.
Only a fool would extract from last Saturday’s President’s Cup match between the rivals binding evidence but what the 1-0 victory for Derry exemplified was the difference McClean makes.
Bear in mind, too, that Liam Boyce and Gavin Whyte – both ex-Northern Ireland internationals with considerable recent experience at a high level in the UK – were kept idle as unused subs. Friday’s opponents certainly believe the tools are with Derry to be considered bona fide challengers to Rovers.
“I’m intrigued to see how it goes,” admitted Sligo manager John Russell. “It’s possibly the toughest test there is at the moment in the league. They’ve just beaten the double-winners.
“It’s going to be a sold-out, expectant Brandywell. Derry are pushing to start well and will be challenging. But it’s going to be a crisp night under floodlights and a big, big atmosphere. What isn’t there to look forward to?”
Elsewhere, the Hoops open their defence by hosting newly promoted Dundalk, led by their former player Ciarán Kilduff.
“I don’t think we could be in a better situation in terms of the club, the staff and the players,” said Kilduff, relieved off-the-pitch upheaval has subsided. “We’ve prepared really well and the opportunity to play the champions in their own backyard is very exciting. It’s no surprise to me that everybody else has declared themselves fit and ready to play in such a big game.”
Rovers will be without last year’s FAI Cup final hero, Rory Gaffney, but attackers Graham Burke and Michael Noonan will return after sitting out last week’s curtain-raiser.
Presuming the RSC passes a pitch inspection, Jon Daly’s first match in the Waterford hotseat will be against 2024 champions Shelbourne.
“Most the players we brought in bar one or two have played in the league before so they understand what the league is about,” he said about bedding in. “This is such an unforgiving league that if you’re not at it for whatever reason on the night you’ll get turned over.
“It’s about getting it right at the back, then ensuring we give the attacking players the service they need to win the game.” Next Friday sees the First Division schedule begin.
Derry City v Sligo Rovers, Ryan McBride Brandywell; Galway United v Drogheda United, Eamonn Deacy Park; Waterford v Shelbourne, RSC (all 7.45pm); Shamrock Rovers v Dundalk, Tallaght (8pm – live Virgin Media).
