Cork City denied a licence; club to be wound up; FORAS to enter First Division

**HammerNThongs** · 19/02/2010, 2:49 PM

Lets face it, there is no deadline

**Longfordian** · 19/02/2010, 2:50 PM

It would seem so.

**gufct** · 19/02/2010, 3:14 PM

Any Commercial deal never mind one as complicated as this will take an age to be agreed especially with all the new debts that appeared since tuesday. Obviously the consortium would prefer to trade under the name of CCFC rather than a whole new entity. The pressure is on TNB more than them because if they withdraw his creditors will hang him.

He wont be able to stick his head out for a long while if CCFC fold.

**John83** · 19/02/2010, 3:17 PM

Something just struck me. If you are a director of a company which gets wound up, you're banned from directorships elsewhere for a period of some years (5? 10?). The FAI charge on TNB for bringing the game into disrepute, that made him give up directorship, right? Will he avoid such a ban if someone finally finds a silver bullet with Cork's name on it?

**micls** · 19/02/2010, 3:20 PM

Originally Posted by John83

that made him give up directorship, right? Will he avoid such a ban if someone finally finds a silver bullet with Cork's name on it?

No. The FAI dont have that power. They made him stand down as chairman.

He's still a director

**weecountyman** · 19/02/2010, 3:33 PM

Maybe I wasn't being disingeuous after all, quintas are being the quinessential anti-Tom, and behave just like him - give him until a certain time them fudge it. This is shameful but all within loopholes.

**tippex** · 19/02/2010, 3:51 PM

just thinking.

The only way things will be resolved more or less is if the takeover goes ahead.
If it doesnt then TNB still owns Cork City.
If that is the case then they will not be wound up on Monday as they paid their outstanding tax liability (the revenue were the only ones on the winding up order).
It would then be up to the ILC (again on monday) to decide the clubs fate.

If it was me I would be doing my damnedest to make sure the gimp cannot get anything out of it apart from the company being wound up which should lead to him being banned from being a company director for a substantial period of time.

**Doomofman** · 19/02/2010, 3:57 PM

So were the revenue payed on Wednesday?

**Longfordian** · 19/02/2010, 3:57 PM

I still can't fathom what's in it for the investors, Gray in particular. At least O'Connell is owed €225,000 or whatever and wants to try and get it back somehow which he won't if he lets the company be wound up. Despite their insistence on Premier Division football, the chances are the FAI are at least going to whack on a points deduction or else there really will be uproar. They've feck all players and very little time to sign any decent ones so chances are they could be down in the First next year anyway, a year later and hundreds of thousands worse off than they would have been if they just went with the FORAS club.

**tippex** · 19/02/2010, 4:00 PM

Originally Posted by Doomofman

So were the revenue payed on Wednesday?

I'm making an assumption that they were but there doesnt seem to have been an official press release just being reported in different papers etc

**micls** · 19/02/2010, 4:01 PM

Originally Posted by Doomofman

So were the revenue payed on Wednesday?

yeah.

**Doomofman** · 19/02/2010, 4:02 PM

And I'm guessing there wasn't much truth behind the reported 1m debt either

**tippex** · 19/02/2010, 4:05 PM

any word yet MICLS?

**DmanDmythDledge** · 19/02/2010, 4:11 PM

Deal done apparantly according to somebody on CCFC forum.

**Dodge** · 19/02/2010, 4:11 PM

Originally Posted by Doomofman

And I'm guessing there wasn't much truth behind the reported 1m debt either

I'd imagine most of tht was being painted by TOmmy as director loans (ie money he invested)

There's no question that a large amount of debt exists

**Doomofman** · 19/02/2010, 4:12 PM

Originally Posted by DmanDmythDledge

Deal done apparantly according to somebody on CCFC forum.

Guaranteed Premier spot for Cork so....

**SkStu** · 19/02/2010, 4:31 PM

im getting angry again.

Im sick and tired of being sick and tired.

**dahamsta** · 19/02/2010, 4:34 PM

Originally Posted by John83

Something just struck me. If you are a director of a company which gets wound up

I don't think "wound up" is right in this context. Winding up a company is just the process of closing it down. That said, I don't think liquidation guarantees a directorship ban either, I think the only thing that guarantees it is personal bankruptcy.

**Martinho II** · 19/02/2010, 4:37 PM

Originally Posted by Frank76

The FAI have launched a last minute bid to takeover Cork City. The hearing has been postponed for another week to allow the takeover to be completed!! Cork will be in Premier Division this season and as a kind gesture the FAI have awarded them +10 points to start off the season!!

I was close enough to believe that and its not the first time either too...

**centre mid** · 19/02/2010, 4:43 PM

I'm looking forward to playing in the first (or premier) division, the game against Derry (or Dundalk). Its great to be able to approach the season with a clear direction to where we are going as club with a goal of promotion (or relegation) to the Premier (or First).