Petition to wind up: Cork City Investment FC Ltd

[Black and White]

As stated earlier, it'll be split between the creditors, with some of them like the Revenue and players coming first.


You can't budget for mismanagement.

Is this not outstanding from last years fiasco no?! Thought it was mentioned here somewhere beofre that it was, therfore it must have been included in their budget!

[Pablo Escobar]

As stated earlier, it'll be split between the creditors, with some of them like the Revenue and players coming first.


In a perfect world.....watch this space ;)

[Longfordian]

There's always the chance he'll get the rest of it by Friday but I doubt it somehow. Who'd buy any of their players knowing the trouble they're in?.

[Happy shamrock]

Just goes to show you the BRILLIANT work that those clowns are doing at the start of the season in the licencing committee? How did they pass Cork's budget if money like this was outstanding?
Those licences are a joke.
But bad press for the LoI is bad for the rest of us.

[Black and White]

I feel sorry for the Cork fans but hey just start uo afresh and get everything right this time!

On another note, does this mean that all teams who have taken points off Cork lose them now? If So then Pats are screwed. they ebat them twice this season!

[James]

gutted

cant think! :(

[longfordjames]

So will they be playin this week as not dissolved for 21 days according to extratime?

[SeanDrog]

presume they would just fold sooner - why keep paying wages etc just to fold in 21 days

[centre mid]

Hard to imagine that they will, players will be looking for new jobs I'd have thought.

[Duggie]

doolin and the players must be raging.

[James]

everyone is ... including the fans!!!

[KBurke]

Like most im sorry to see a club with great history and supporters go the wall but on one hand it is hard to be fully sympathatic. A club that had just come out of Examinership should never have in a position where it was able to remain a full time outfit. It would have been in the best interests for all concerned if they went part time- semi pro and built back up slowly.

Now that the worst has happened though i do hope the club can come back in some form as the people of Cork deserve a football team and the league of ireland will not be the same untill such time as Cork are back.

[The Betting Man]

I wonder what will happen with their Setanta Cup place

[ollie]

Like most im sorry to see a club with great history and supporters go the wall but on one hand it is hard to be fully sympathatic. A club that had just come out of Examinership should never have in a position where it was able to remain a full time outfit. It would have been in the best interests for all concerned if they went part time- semi pro and built back up slowly.

Now that the worst has happened though i do hope the club can come back in some form as the people of Cork deserve a football team and the league of ireland will not be the same untill such time as Cork are back.

Hard to disagree with this

[pineapple stu]

On another note, does this mean that all teams who have taken points off Cork lose them now? If So then Pats are screwed. they ebat them twice this season!
Dodge mentioned a couple of times that there's a new rule this year which means that if a club has unplayed matches against a side that goes out of business, they get the average number of points they had gotten against that side so far for each of the unplayed games (in other words, if you get three points from two games, you get three points from the two unplayed games too). If that's the case, the league table would look like this, where "B" is the bonus points for the unplayed games against Cork (and assuming they play no more games, which won't be the case, it seems) -


Team P W D L F A GD Pts B Pts
Bohs 21 14 3 4 33 11 22 45 3.00 48.00
Rovers 21 11 7 3 29 16 13 40 2.00 42.00
Derry 21 10 5 6 26 15 11 35 1.33 36.33
Dundalk 21 9 2 10 25 26 -1 29 3.00 32.00
Galway 21 7 4 10 19 27 -8 25 0.00 25.00
Pat's 21 7 2 12 18 31 -13 23 1.33 24.33
Drawda 21 4 7 10 16 27 -11 19 3.00 22.00
Sligo 21 5 6 10 19 29 -10 21 0.33 21.33
Bray 21 4 6 11 18 32 -14 18 0.00 18.00
Cork 0 0 0 0 0 0 0 0 0.00 0.00



So will they be playin this week as not dissolved for 21 days according to extratime?
Possibly a legal requirement. Notice for formal meetings and what have you.

[Straightstory]

Very sorry for the club and the fans. Ironic that the have possibly the best ground in the league. What will happen Turner's Cross?

[pineapple stu]

It'll be used for the team next year, I'd say.

[brianw82]

Very sorry for the club and the fans. Ironic that the have possibly the best ground in the league. What will happen Turner's Cross?

Owned by the Munster FA. Revenue can't touch it.

[crc]

Really crappy news :(

[Longfordian]

I'd assume a lot of players won't want to play even if the next match goes ahead as they wouldn't want to risk injury etc or could be off on trials elsewhere etc.

[Raheny Red]

Very sorry for the club and the fans. Ironic that the have possibly the best ground in the league. What will happen Turner's Cross?

Rovers will use it whenever the SDCC refuse them permission to Tallaght.

[ollie]

Very sorry for the club and the fans. Ironic that the have possibly the best ground in the league. What will happen Turner's Cross?

the MFA own it, so nothing will happen to it

[razor]

So basically we need €239K by Friday.
I've never done the Monday Millions before but I will today.

Or a white knight.

[A face]

This club really has dished out some highs and lows over the years. Never a dull moment, you'd have to hand us that anyway.

[Buller]

Rovers will use it whenever the SDCC refuse them permission to Tallaght.

Or possibly Shelbourne when you're finally kicked out. Hilarious.

As much as it was Corks fault for being unable to pay back money owed, even after coming out of examinership and Tom Coughlan still maintaining a fulltime setup, I think the Revenue were very, very harsh in their relentless moneygrabbing nature. In fairness Cork nearly had half the money as required, and could have paid it all back in the coming months.
Its very sad for a city the size of Cork to lose their LoI side, and yet more negative PR for the tabloids to churn out about irish football.
Im gutted...

[sfc red]

Like most im sorry to see a club with great history and supporters go the wall but on one hand it is hard to be fully sympathatic. A club that had just come out of Examinership should never have in a position where it was able to remain a full time outfit. It would have been in the best interests for all concerned if they went part time- semi pro and built back up slowly.

Now that the worst has happened though i do hope the club can come back in some form as the people of Cork deserve a football team and the league of ireland will not be the same untill such time as Cork are back.

What history??

[Longfordian]

The Revenue were still annoyed at the examinership and the amount of money they got away with from that I'd imagine. They were never going to be overly flexible and Cork would have had a lot to do to keep paying the instalments in any event.

[Ezeikial]

FORAS I understand has a substantial wad of cash at its disposal. That should be used to set up a new club and enter the A League next year.

Journalist Paul Lennon speaking on Radio Foyle at half time in the Derry Skonto Riga game mentioned the FORAS had funds in the region of €75k.

Anyone with knowledge on this here?

Would that be sufficent funds to get the ball rolling again (presumably from the A Championship) ?

[pineapple stu]

In fairness Cork [...] could have paid it all back in the coming months.
By all accounts, they couldn't. Not when they never paid any of it in the first place, and were struggling with wages and the likes. Really can't blame Revenue for their stance, to be honest. They've been screwed around almost continuously by the league since the Shels thing erupted.

E75k sounds plenty to get going in the (regionalised, shorter) A Championship. They'd walk it too, given this amount of preparation time.

[Ezeikial]

I think the Revenue were very, very harsh in their relentless moneygrabbing nature. In fairness Cork nearly had half the money as required, and could have paid it all back in the coming months.


Big bad Revenue people. They wanted what was owed, and couldn't see the positive side of getting bounced cheques and broken promises.



Its very sad for a city the size of Cork to lose their LoI side, and yet more negative PR for the tabloids to churn out about irish football.
Im gutted...

Of course its a negative storey - and theres more to follow. Why blame the media for reporting the facts?

[brianw82]

Wonder if anyone from the club will be on MNS tonight?

[Jofspring]

They'd walk it too, given this amount of preparation time.

With what players though. They could only walk it if they got decent enough players and a manager first which could cost a few bob. I'm sure they could pull in some talent from around but whether they'd walk it i dunno.

[Lilywhite Army]

WHat about the Setanta cup now??

Who will get the extra place

[razor]

WHat about the Setanta cup now??

Who will get the extra place
who cares?

[pineapple stu]

With what players though. They could only walk it if they got decent enough players and a manager first which could cost a few bob.
They have E75k already; presumably that'll be added to by next April; say they have E120k by then. If they get 1000 a game in the A League, they'll have enough to get some of the better local talent. They could easily get up to E300k for the year; we're second in the First Division on that budget.

The A League standard is poor enough, and all they have to do is come top three and win a play off against Kildare (who are safe again), Mervue or the likes.

[Infadel]

WHat about the Setanta cup now??

Who will get the extra place
I'd assume it would be the team that finished in the place below them in the league which would be Bray.

I'm gutted for the supporters of Cork but the club made far too many mistakes and are paying the price.

[gufct]

Very sorry for all the Genuine Cork City fans and its all great supporters of other teams having a go but there are quite a few other clubs including ourselves just about hanging in there.

The whole wages structure in the league is ludicrous and until clubs start paying players what they can afford there will be more clubs being wound up.

[The Betting Man]

WHat about the Setanta cup now??

Who will get the extra place

The draw is due to go ahead tomorrow I think im sure they will cancel it and have it next week.They might go back to the old format of having 2 groups of 4 and the top 2 going true

[sligoman]

I'd assume it would be the team that finished in the place below them in the league which would be Bray.Setanta is invitational so it can be whoever they want it to be. The draw is tomorrow(possibly be postponed for a few days now) though so they'd wanna get a move on.

[scoops85]

id say 6th in last seasons league - Bray

[TheBoss]

It is a huge shame for league, Cork have one of the best fan bases in the country and for them to be managed badly by certain people is a disgrace.

[Dodge]

All the best to Cork fans. I've had as many digs at thm as anyone else. Genuinely gutted for the few I know, and the hundreds like them, wo are proper football fans

Hope a miracle happens and I can make fun of you next year

[Raheny Red]

Good riddance, you danced on our 'graves' - gonna enjoy this greatly :)

[Dunny]

who cares?

He does, and I'm sure others do. Just because you don't doesn't mean you have to be a d!ck over it..:rolleyes:


Wonder if anyone from the club will be on MNS tonight?

Wouldn't think so but I'm sure there will be alot of discussion on it.

[Umberside]

Good riddance, you danced on our 'graves' - gonna enjoy this greatly :)

At least we didn't buy the league

[thischarmingman]

At least we didn't buy the league

Didn't or couldn't?

[Raheny Red]

At least we didn't buy the league

Enjoy your Friday nights at the movies now :)

[razor]

He does, and I'm sure others do. Just because you don't doesn't mean you have to be a d!ck over it..:rolleyes:Pardon me for not being in the form for a Setanta Cup discussion,
Heres an idea, maybe try taking it to a Setanta Cup thread.

[the 12 th man]

From betfair.com

Cork City Football Club has been told to close at the High Court today.

A 'winding-up' order was issued against the club, but a stay was placed on it until Friday, meaning the club can continue trading until then.

Today was the deadline set by a High Court for the club’s directors to meet the requirements of the Revenue Commissioners to help settle a €360,000 debt.

The club were in a confident mood before today's court sitting and seemed to think the recent sale of key players Colin Healy and Denis Behan, to Ipswich Town and Hartlepool United respectively, would have helped meet the minimum demands of the court. The sales of the players were thought to have raised at least €120,000.

However, Justice Mary Laffoy said the trading company Cork City Investments FC was effectively insolvent. While acknowledging the important social role that the club plays in Cork, the judge said she had no choice but to make an order winding up the company

[SeanDrog]

you can argue that any club that wins the legaue has bought it through big name signings or investing in development of players etc. The point is if a club can sustain the investment or afford the investment in the first place.