Former Glenavon midfielder Shane McCabe believes it’s becoming more crucial for clubs to secure extra investment if they want to continue competing in the Premiership.

After a shareholder meeting on Wednesday night, the Lurgan Blues are set to enter into a strategic partnership with Football International Limited which will see the Co Armagh outfit receive staged investment across the next five years.

Once the deal progresses through formal steps, Glenavon will become the latest Irish League club to accept outside investment, following in the footsteps of Larne, Glentoran, Coleraine and Carrick Rangers.

It’s understood Football International Limited are led by Cathal Morrison, who grew up in Londonderry before moving to England and previously held an ownership stake in National League club Altrincham.

placeholder image — Glenavon have entered a strategic partnership with Football International Limited, who will become majority owners. (Photo by Alan Weir/Pacemaker Press)

With increased finances in Northern Ireland’s top-tier, McCabe feels it’s an important step for Glenavon to take – but also believes focus should be on trying to preserve Premiership status with Michael O’Connor’s men in a perilous position at the bottom.

"Glenavon need as much investment as possible due to the fact every club seems to be going that way,” he said. “They have relied on sponsorship, internal investment, and it's just not competing.

"They need to get some more investment. They're running an initiative to get supporters on board, but it's really at a time where Glenavon have accepted that next season they could be building to go back up to the Premiership.

"They're not relegated yet, but they're in a tricky situation and February is a massive month for them - if they go through February without gathering points, the writing will definitely be on the wall for them.

"It's a big moment for Glenavon.

"It would be very naive to think some of the players being signed recently in the Irish League aren't on really good wages.

"These players won't be on the same wages as at part-time clubs because the money and investment is there.

"Clubs realise that, it's not about competing at the top-end but about being sustainable and being able to compete to keep your league status.

"You need investment to maintain your spot in the Premiership.

"It's chalk and cheese at the moment when you're negotiating with part-time teams and then the full-time ones, it's miles apart at the minute from a player perspective and that pull, it's a short career, so if you can get a two or three-year contract, you have to look at that for your future."