View Full Version : Drogs seek examinership
Longfordian
23/10/2008, 3:35 PM
Depends how serious the "serious expressions of interest" are really. If they can come up with a decent package for creditors they can get out of it despite the Revenue's objections.
blackholesun
23/10/2008, 3:39 PM
> And all for want of half a million when 8m has already been pumped in. Seems ridiculous.
????????????? The whole Drogs "investment" was a property play using the club as a lever with the council ect for PP.
I dont think it was ever about the football club, ok it might have been in Hoey's head, but sure wasnt he at the whims of the developers all along?
By accepting their money to blow on the team, Hoey put the cart before the horse and most of the mess is his fault if you ask me! They coulda developed the stadium idea without "investing" in the team at the same time!
bhs
pineapple stu
23/10/2008, 3:39 PM
Depends how serious the "serious expressions of interest" are really. If they can come up with a decent package for creditors they can get out of it despite the Revenue's objections.
True. Though how serious has any "serious expressions of interest" ever been in this league?
Longfordian
23/10/2008, 3:42 PM
True. Though how serious has any "serious expressions of interest" ever been in this league?
Not very. Particularly any ones involving Mr. R Collins and any of his friends.
If they have any football related debt (wages, tansfer fees etc) and don't have agreements in place, they won't get a premier license AFAIk
Longfordian
23/10/2008, 3:47 PM
True Dodge. Don't think they are supposed to get a First Division one either though most clubs and players will be amenable to an agreement.
True Dodge. Don't think they are supposed to get a First Division one either though most clubs and players will be amenable to an agreement.
Do you think Sligo will be if it’s the difference between them in europe or not?
Longfordian
23/10/2008, 3:58 PM
Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.
Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.
Really? That's the first I've heard of that. That'd mean if Cork win the league next year, no Champions League place?
Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.
If that's confirmed...
Longfordian
23/10/2008, 4:31 PM
Has it not been confirmed yet? Wasn't sure on that one, I knew it was proposed anyhow.
John83
23/10/2008, 4:48 PM
Has it not been confirmed yet? Wasn't sure on that one, I knew it was proposed anyhow.
I think it's that it hasn't been tested yet.
OneRedArmy
23/10/2008, 4:52 PM
Are you sure it isn't "having been bankrupt in the last 3 years"?
Bearing in mind that examinership is specific to Ireland and bankruptcy legislation differs in each country I'd be surprised if it relates specifically to examinership.
Longfordian
23/10/2008, 5:13 PM
I'd imagine it's up to the individual association to word it according to the practice in their country such as Administration in England, Examinership here etc. You have to obtain a UEFA Licence through your Association and presumably that regulation comes into play then.
Teams in examinership within the past three years can't enter Europe under UEFA rules anyway....
That is the rumour but already mentioned never been used yet. 3 years would be very harsh. No doubt Uefa have one rule for big clubs and another for the smaller countries again.
With stadium looking like a distant dream can't see any one wanting to "invest" in Drogs. Best they hope for is white knight.
With stadium looking like a distant dream
Nobody knows whats going on at the club or what the boards intentions are bar the 3 lads - but I genuinely dont think the 3 lads see it as a 'distant dream' just yet.
There could be a few more twists and turns with this over the next couple of months!!
That is the rumour but already mentioned never been used yet. 3 years would be very harsh. No doubt Uefa have one rule for big clubs and another for the smaller countries again.
Well Coleraine were barred for 3 years. They'd be treated the same way as English or Scottish clubs (with the similar bankruptcy laws)
3 years doesn't sound too harsh to me BTW
Longfordian
23/10/2008, 10:16 PM
Absolutely, it wouldn't seem harsh to me either. Examinership/Administration (in UK) should be a process of last resort to keep your club alive, not seen as a small bit of breathing space from your creditors. Three years without European football should be a sacrifice you're willing to make.
Dodge
24/10/2008, 12:30 AM
http://www.belfasttelegraph.co.uk/sport/football/local/euro-heartache-for-coleraine-13876128.html
"It is with regret that the Management Committee of Coleraine FC announces that the club will not be able to play in the UEFA Cup in 2008/09 season," said a statement issued by the club.
"This is due to a failure to meet specific UEFA requirements in respect of the UEFA Licence application and is as a result of the clubs period of Administration falling within a 3 year criteria period prior to application.
jinxy lilywhite
29/10/2008, 1:14 PM
Any latest Drogs Fans on your examinership? I hear there is a supporters meeting soon.
Best of Luck
SMorgan
22/11/2008, 10:41 PM
Well, what's the latest news? I know that staff weren't paid this week, but will Meath Council give the go ahead for the housing and the stadium? Last I heard they were still considering it.
Well, what's the latest news? I know that staff weren't paid this week, but will Meath Council give the go ahead for the housing and the stadium? Last I heard they were still considering it.
No news sounds like bad news for Drogs.
How long have Drogs been in Examinership? I think after an initial period Drogs have to go to the courts to applied for extended period to 100 days. Have they already passed this? Would be hard to see the process continuing if no money to pay staff...
:confused:
holidaysong
23/11/2008, 11:10 AM
The silence is deafening alright.. How is the supporters trust they tried to set up going for them? I hope they can survive..
Horus
23/11/2008, 11:22 PM
I think the silence on here is only deafening because Drogs supporters got fed up with the jibes and negativity from all quarters. There's plenty going on....see some of the other football forums.:D
The silence on here is due to some ignorant idiot posting who were glad to see the club in serious trouble. Students :rolleyes:
John83
24/11/2008, 10:21 PM
The silence on here is due to some ignorant idiot posting who were glad to see the club in serious trouble. Students :rolleyes:
I was about to post something sarky about ignore lists, but then I remembered that Pineapple Stu's a mod and so can't be put on one.
pineapple stu
25/11/2008, 8:50 AM
And (a) there's silence on the main board and (b) I just want to see you cut down to your proper level, not to go out of business. But however many times I repeat that, you'll just put your hands over your ears and go "Bitter to Doolin, bitter to Doolin"
McLovin
26/11/2008, 6:09 PM
And (a) there's silence on the main board and (b) I just want to see you cut down to your proper level, not to go out of business. But however many times I repeat that, you'll just put your hands over your ears and go "Bitter to Doolin, bitter to Doolin"
Will you ever grow up?
holidaysong
26/11/2008, 8:35 PM
'You can't ask anyone to invest in nothing. It's not looking good, let's be honest'
http://www.drogheda-independent.ie/news/controversial-area-plan-yet-to-be-finalised-by-councillors-1552986.html
And (a) there's silence on the main board and (b) I just want to see you cut down to your proper level, not to go out of business. But however many times I repeat that, you'll just put your hands over your ears and go "Bitter to Doolin, bitter to Doolin"
I never mentioned doolin , i just cant stand you and you holy attitude , you gloat about clubs in serious trouble .Gimme abreak FFS .
Public Meeting called by club (http://www.irishtimes.com/sports/soccer/2008/1201/1227910462213.html)
The board of Drogheda United has called a public meeting for Wednesday night to consider the future of the troubled club.
Club chairman Vincent Hoey said today that negotiations with potential investors are continuing but remain "slow".
He added that the club is currently in the "worst situation" it had experienced in its history and called on supporters to attend and discuss ways in which progress could be made towards securing its future.
The meeting will take place at Drogheda Institute of Technology at 8.30pm.
What is the plan here? What is expected of supporters?
Drogman.
02/12/2008, 12:55 PM
Public Meeting called by club (http://www.irishtimes.com/sports/soccer/2008/1201/1227910462213.html)
What is the plan here? What is expected of supporters?
You wouldn't believe what they expect the supporters to do.
This meeting will do nothing, it'll be a disaster.
Our best hope is to keep plugging away with our supporters club and setup something that could possibly create some sort of club next season or whenever.
Rovers Maniac
02/12/2008, 12:58 PM
You wouldn't believe what they expect the supporters to do.
This meeting will do nothing, it'll be a disaster.
Our best hope is to keep plugging away with our supporters club and setup something that could possibly create some sort of club next season or whenever.
What are they expecting you lads to do take out big loans to save the club? :confused:
Dodge
02/12/2008, 12:59 PM
You wouldn't believe what they expect the supporters to do.
Try us...
Our best hope is to keep plugging away with our supporters club and setup something that could possibly create some sort of club next season or whenever.
I would have guessed that is the only action possible now. Might as well save money to create Drogs II.
What is the reaction to Hoey in the town now. From outside perspective by reaching for the stars he has destroyed the club.
Indo (http://www.independent.ie/sport/soccer/drogs-need-8364500000--to-avoid-extinction-1559879.html)
DROGHEDA UNITED, the 2007 Eircom League champions, will cease to exist past the New Year if they cannot stump up at least €500,000 of non-refundable cash in the next 10 days, according to staff at the Boyneside club.
The club has been surviving on petty cash since the League of Ireland season ended over two weeks ago and the gas bills at United Park are currently being funded by a single die-hard supporter, such is the extent of their problems.
"The club is on its knees and my biggest fear now is that, come January, Drogheda United will not exist as a club."
United are in examinership and examiner Kieran McCarthy must convince the High Court the club can be sustained as a business when he goes before the judge on December 12.
When they entered examinership, Drogheda had accrued over €732,000 worth of debt, with €535,000 of that owed to the Revenue commissioner.
Neither staff nor players have been paid in over two weeks and it is believed those debts have risen to over €850,000.
Drogman.
02/12/2008, 1:44 PM
Try us...
I can't reveal too much, however put it this way, it's hit the same hardcore support for money or do nothing.
Simply not good enough as far as I'm concerned.
But sure the magic money fairy will be along to save the day :rolleyes:
I can't reveal too much, however put it this way, it's hit the same hardcore support for money or do nothing
Sounds like every LOI club...
Drogman.
02/12/2008, 2:04 PM
I would have guessed that is the only action possible now. Might as well save money to create Drogs II.
What is the reaction to Hoey in the town now. From outside perspective by reaching for the stars he has destroyed the club.
Indo (http://www.independent.ie/sport/soccer/drogs-need-8364500000--to-avoid-extinction-1559879.html)
To be honest, Vincent has the club at his heart but seems to have lost touch with watch supporters want or what needs to be done. He is working his socks off so I wouldn't lay all the blame with himself as there have been others who have influenced him, however things could be done better.
Drogman.
02/12/2008, 2:05 PM
Sounds like every LOI club...
Yeah but even when other clubs were looking for money some at least tried to reach out to people who wouldn't be considered hardcore fans and even just to get a couple of euros from them.
Our lot have put all their eggs in one basket.....as usual.
Longfordian
02/12/2008, 2:10 PM
Is there actually any negotiations going on as Vincent Hoey claims or what's the story?. Who are these potential investors?.
Lim till i die
02/12/2008, 9:24 PM
possibly create some sort of club next season or whenever.
Sounds like you have it all figured out :eek: :eek: :eek:
holidaysong
03/12/2008, 2:14 PM
Good luck with the public meeting tonight. Hopefully there is a large turnout.
Powered by vBulletin® Version 4.2.2 Copyright © 2025 vBulletin Solutions, Inc. All rights reserved.