"THE future for Shelbourne remains in the balance after chairman Finbarr Flood's assertion that a big 48 hours lay ahead for the league champions, with their survival chances rated only as "50-50".
Flood and Shels' management committee are attempting to deal with a long list of creditors and could be forced to pull the plug unless they can find a method to wipe the club's debts with an immediately pressing figure of €4m needing to be cleared.
Unless the creditors are prepared to be patient, the only way Shels will survive is if they can strike a deal with property developer Ossie Kilkenny - who has first option on the sale of the lease on Tolka Park - to follow through on the completion of the sale now.
For the past three seasons, Kilkenny has been providing bridging capital to the club and has offered to put forward the cash to sustain the team for the coming season although that money would be drawn down from the value of any eventual sale.
Kilkenny, who is chairman of the Irish Sports Council, is currently keeping a low profile. He failed to make a scheduled appearance at yesterday's announcement of the Irish Institute for Sport's new Director of Sports Science.
Daniel McDonnell"
Funny then how Flood could come out yesterday and dismiss talk of Shels not being able to participate in the new Premier League or in Europe as rubbish and assure everyone that Shels will be fielding teams in both competitions.
Any of you folk resident in Dublin hear anything on the grapevine that has not already been aired? Personally I think the club would have some chance if they were to volunatrily crop out of the CL and also go down to Division 1 and radically slash their costs. They would at least then get some kudos from other El supporters and could maybe bounce back in a few years ala Rovers.
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