QuoteReally exciting news for Rovers if monies is invested correctly
http://www.irishtimes.com/sport/socc...medium=twitter
Looks positive. Not sure a loan counts as investment though.“It” is a €1.5 million investment, in the form of an interest free loan, that will be used to dramatically upgrade the football facilities at Cement Roadstone’s Sports and Social Club at Kingswood, a few minutes’ drive from the club’s Tallaght stadium and so provide the basis for a “more sustainable” future.
With work on a full size artificial pitch and improved grass pitches set to get under way in the coming weeks and a third stand expected to be built in Tallaght next year, the club’s infrastructure is, partly due to the support of Roadstone and South Dublin County Council, on course to be the best in the country, at least until Dundalk get around to spending some of their new found wealth. As Friday’s game only served to highlight, though, the first team is nowhere close to where the club’s fans feel entitled to expect and Wilson, whose many meetings this week included one at what will be the Rovers academy to brief them, insists that that too is high on the agenda for the reformed board.
#NeverStopNotGivingUp
Really exciting news for Rovers if monies is invested correctly
We are the SR the SRFC.......
Part time Finn Harps too :)
Was at the meeting last night . Really positive stuff and the pipeline of kids coming through looks strong. Board were pretty straight with every body. Great crowd and the facilities for the academy will be fantastic
First team will be training there as well when builders finish.
Would it have been a better move by Wilson and Board to have given Stephen Kenny more time a few year back. A more realistic plan than a modern version of the Kilcoyne/Giles project at Milltown.
Managers come and go. Kenny will leave dundalk of his own accord or be fired at some point in the future. The structure of the club and the concentration on the academy is more important then the first team in the shot run.Originally Posted by wonder88
How long do they have before they have to pay the loan back?
It's nice to see some investment in infrastructure.
That's a resonable question, though I suspect an interest free loan is probably coming from a benefactor and so on generous terms.
Will these new facilities provide an income stream for the club? That would be arguably more useful than the footballing infrastructure.
Isn't this old news?
I thought it was announced a few months back.
We were discussing this and the implications well before the summer.
That's what I thought as well or is this a new effort ?
Even interest free its still a loan that needs to be paid. When you think that they were spending the European money in the last few years and were still inheriting a debt I believe season after season too. They will now have a Loan, no Euro money from before, inherited debt and crowds are down!?? Could be lean times in Tallaght.
Manager: Fergal, have you your boots with ya?
Fergal: Ya, I have them here.
Manager: Ah good stuff, well give them to this man so, he forgot his!
The facts are as follows: €1.5m interest free loan over 10 years. If at the end of the term loan not repaid then Ray Wilson takes 50% ownership of Rovers, or put it another way he's putting up €1.5m on the basis of collateral of 50% of nothing.
So either he'll ensure Rovers are successful and he'll get his money back or will fail and lose and is left with 50% of nothing.
This is us a fantastic deal for Rovers and more importantly RW isn't the type of guy that ever fails- he's already got his nominee in as CEO and he also has 5 of his nominees elected to the board of 9.
So time will tell but this is a very positive move as it guarantees major cash injection and has also radically changed both the make of the board and the day to day running/control of the club
There is no doubt that the day to day running of Rovers had to change! It on the surface is keeping to the members model but if a guy 'invests €1.5m installs his own CEO and has a majority of the board then the members models is there is but a token gesture to the supporters for Rovers new board and Wilson as their chief. He chooses not to prioritise the repayment of the loan and he in due course get a 50% stake in Shamrock Rovers FC. 50% of nothing is an interesting spin on the terms of repayment. Unless you really believe that Shamrock Rovers is nothing as opposed to owning 50% of a club, the brand, half or assets including cash assets. So say Rovers go on their own European run and take in €6m and if someone has 50% ownership and control of the board and "[COLOR=#333333]RW isn't the type of guy that ever fails" and he decides to take prizemoney to top up his wealth well It could be a shrewd investment for a loan that you will be controlling the paying back of to yourself. Of course Wilson may be an honourable guy and just want Rovers to fulfill potential..one thing is for sure is that it will be very hard to guarantee a 50% block vote to counter Wilson if it was ever needed in the best interests of Shamrock Rovers rather than the Investor.[/COLOR]
RayWilson is an honourable guy his bone fides our impeccable and well proven as he's the guy that stumped up €220k of his own money during the examinership and that plus the Members funds enabled the club to survive - that at the time gave him a partial ownership of the club - the money was paid back and his ownership removed.
If as you suggest we make €6m - then the club and the structure of the deal means he'd get his €1.5m back and full ownership reverts to the members- if after ten years he's still owed the €1.5m then he retains 50%- however that would also mean most likely it would be worthless in terms of asset value- also correction to my earlier post - he has 4 nominees on a 9 person board.
He may live in Australia but he and his family have been associated with Rovers for over 60 years.
His father was previously a director and Life President of the club and was the main driver behind the instigation of the 400 Club.
The interest on a €1.5 million loan over ten years would be quite significant so that's an investment of sorts.
Small correction to above he only has 4 of the 9 board votes that was important to the members so they still control the club.
Also it makes me laugh when people talk about Rovers blowing the European money we got about a million euros back then net AFAIK,
The money in the Europa league was a pittance compared to now.
With the money Dundalk have got at this point they should be winning the league for the next 5 years, time will tell I guess
Sorry just spotted your correction above re 4 nominees.
Loan is interest free though isn't it? (Sorry, should have been clearer about that in earlier post)
#NeverStopNotGivingUp
I think he's suggesting that foregoing the interest on a ten-year loan of €1.5m represents an investment in the club. If Rovers were to get a €1.5m loan from a bank then it would cost them in excess of €1.5m.
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