LOI Club Ownership

**Spudulika** · 25/08/2015, 12:18 PM

So what club is government owned?

**ThePrisoner** · 25/08/2015, 12:30 PM

Originally Posted by Nesta99

Dundalk have a proportion of supporters shareholding. While the 'owners' are the main men and the financial clout the percentage ownership by fans would act as a type of guardian of the club if say the owners tried to do something major like a name change or if possible the sale of the ground. At least thats what is intended by not having all shares in one persons hand Id imagine.

At the moment the company behind Dundalk is Dundalk Town FC Limited (CRO519313). Per the latest filings the company, and by extension, the club is owned and managed equally by two named individuals. This company has run the club from the 2013 season. There was a different company and different owners/directors prior to the 2013 season.

Now whether the ownership as disclosed in the CRO filings, or a % of it, is in trust for the supporters is another matter.

There is no question of the current owners selling OP as they simply do not own it. See my earlier post.

**ThePrisoner** · 25/08/2015, 12:43 PM

Originally Posted by Spudulika

So what club is government owned?

St. Patrick's Athletic.

Per the records of the CRO:

Newtonheath Co Limited is owned 100% by Mancar Limited (CRO 403848).

Mancar Limited is owned 100% by Trento (CRO397505 - an unlimited company).

Trenor is owned by Garrett Kelleher (75%) and Thomas Hamilton (25%).

Now herein lies the problem. Trentor was dissolved by the CRO in August, 2012 and the assets of a dissolved company are vested in the Minister for Finance.

Have a look at the filings in the CRO and the difficult financial situation St Pat's are in.

**Nesta99** · 25/08/2015, 1:02 PM

Originally Posted by ThePrisoner

There is no question of the current owners selling OP as they simply do not own it. See my earlier post.

I'm only too aware of the ownership model of Oriel Park and the associated difficulties associated currently. I was using an example there really - an example that could have come to pass with the previous owner who was critical of any previous Dundalk FC company or board for not trying to purchase the land from the Casey trust at some point. Something that i'd imagine he looked in to at the time.

As for any supporter ownership of the club, I dont know anything beyond what was presented at the time when Dundalk FC Supporters Trust were attempting to buy the club from Gerry Matthews, the club was subsequently sold to the current owners and I was of the belief that this included a percentage sharing with the supporters trust and position on the new board. The Trust now seems defuct in all but on paper. This may not have been the final arrangement in the end but that was certainly the impression given at the time.

**ThePrisoner** · 25/08/2015, 1:49 PM

Originally Posted by Nesta99

I'm only too aware of the ownership model of Oriel Park and the associated difficulties associated currently. I was using an example there really - an example that could have come to pass with the previous owner who was critical of any previous Dundalk FC company or board for not trying to purchase the land from the Casey trust at some point. Something that i'd imagine he looked in to at the time.

As for any supporter ownership of the club, I dont know anything beyond what was presented at the time when Dundalk FC Supporters Trust were attempting to buy the club from Gerry Matthews, the club was subsequently sold to the current owners and I was of the belief that this included a percentage sharing with the supporters trust and position on the new board. The Trust now seems defuct in all but on paper. This may not have been the final arrangement in the end but that was certainly the impression given at the time.

Ok, I take the point you were making.

All the more reason for any club NOT to own their ground. Look at Dalymount. The ownership of St. Pat's and Richmond Park is mortgaged to the hilt, every blade of grass in the place pledged to the bank and for what reason? - have a look at the filed accounts.

IMO the ideal situation is the Showgrounds. Owned in trust for the people of Sligo. Can only be used for sport, can never be sold, mortgaged or pledged. The Showgrounds was bought in the late 1960s and a band of dedicated supporters walked the town and county collecting money for about five years to pay for it. And that was at a time the club had won nothing for years (the league in 1937) and anchored at the foot of the league.

As I understand the position the previous owner of Dundalk is holding the lease to OP. I hope the Dundalk supporters get their hands on the lease, surrender it to the landlord and get a new one drawn up in the name of about 20 diehard supporters in trust for the people of Dundalk. That should secure your future in OP.

Ideally, purchase the freehold of OP in the name of the people. However, if OP is already in a trust, the unwinding of a trust can be very complicated particularly from a tax position, so a long lease maybe the best outcome.