Petition to wind up: Cork City Investment FC Ltd

[pineapple stu]

I think the Farrelly case was mooted on here at the time. If we knew about it, I'm pretty sure Coughlan ought to have known about it. Especially if he conducted a proper due diligence. That's the whole point of due diligence - to see what skeletons are lurking.

In any case, why are CCFC being sued over actions taken by the examiner?

[micls]

I think the Farrelly case was mooted on here at the time. If we knew about it, I'm pretty sure Coughlan ought to have known about it. Especially if he conducted a proper due diligence. That's the whole point of due diligence - to see what skeletons are lurking.

In any case, why are CCFC being sued over actions taken by the examiner?

It was mooted on here when he mentioned taking the case, which was after Coughlan took over.

[tiktok]

In any case, why are CCFC being sued over actions taken by the examiner?
The Examiner was in control of CCFC when Farrelly was let go, but the employer was still CCFC so the case was brought against Cork City Investments Ltd.

[tiktok]

I still think that comes back to the due diligence. There had to be the possibility of cases, and then the chances of success of those cases should've been looked into.

It was the Examiners job to handle the employees he let go in such a way that when the club was handed over to the new owner, such cases were not a possibility, at least in my opinion.

[passerrby]

did not think it was possible but this process is draging the league down further and further and the teams we are supposed to look to as the models for professional football are nothing more than a joke

[pete]

The way the Examiner sacked Farrelly is a sign that he is not infallible as seems to be suggested by some people.

[jimhacker]

The way the Examiner sacked Farrelly is a sign that he is not infallible as seems to be suggested by some people.



Not at all.

I thought Farrelly played well enough but even I didn't think he was THAT good!

[corkboy360]

Yiddo su,,ed it up well when saying we'll continue to live on the edge till TNB fcuks off. I don't think that will happen and it's only a matter of time before we cease to excist. The only thing that will change that is if there is a big attitude change amongst cork fans and support fot foras increases. I don't thionk that will happen though:(
But has it not been said somewhere that if Tommy does not pay the tax that FORAS will not come in(or be able to come in) to save the club ?
Lets say if the club doe cease to exist what happens with all the FORAS money ? rebuild a self sustainable well structured club or what ?
I also reckon FORAS should have student memberships for those of us still in school and going into 3rd level.

[Martinho II]

Yiddo su,,ed it up well when saying we'll continue to live on the edge till TNB fcuks off. I don't think that will happen and it's only a matter of time before we cease to excist. The only thing that will change that is if there is a big attitude change amongst cork fans and support fot foras increases. I don't thionk that will happen though:(

whos tnb ??? is that tom coughlan??:confused:

[corkboy360]

whos tnb ??? is that tom coughlan??:confused:
Yes
Tommy NO BOBS

[Martinho II]

Yes
Tommy NO BOBS
ah that makes sense its hard to get who it is when you are reading a thread very quickly especially when you are on the net

[gufct]

I cant see Cork getting out of this now. Every loi club is struggling even with huge cutbacks crowds are down everywhere with the exception of Rovers yet Cork and Bohs still spend crazy money that they dont have.

[Umberside]

I cant see Cork getting out of this now. Every loi club is struggling even with huge cutbacks crowds are down everywhere with the exception of Rovers yet Cork and Bohs still spend crazy money that they dont have.

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.

[placid casual]

honestly hope city dont go to the wall. well not before Rovers go there in a few weeks anyway.
I wanted to see the new ground improvements before its goes tits up.
i'm sure its being asked before but are FORAS lined up to take over from this "charlatan"* coughlan.
it would appear the only way to operate.The revenue would look kinder on a group of people who have a vested interest in preservation of the club as opposed to exploitation/vain egomania by an individual.
but i could be wrong so best of luck anyways.



* my words

[osarusan]

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.
Pineapple Stu's gonna get you!

[Dodge]

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.

What are they compared to the frst 9 gmes of last season?

Comparing them to end of seaason kickabouts isn't really a true refelction

[Flexy]

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sport/Candy-Crunch.5301411.jp
Its not that they are in financial trouble its just that the sponsors are not paying up, so we are looking for a new sponsor. Meteor and Derry News havent paid up yet for the year ahead

[Celdrog]

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.There have only been 6 home games so far this season:rolleyes:

[pineapple stu]

You can prove anything with stats. 75% of people know that, Kent.

[CuanaD]

You can prove anything with stats. 75% of people know that, Kent.
But the other 25% are 3 times as certain - which makes it 50-50 right?

[pete]

What are they compared to the frst 9 gmes of last season?

Down average of 1000 per game. This years numbers include the Drogs freebie home game.

[pól-dcfc]

Its not that they are in financial trouble its just that the sponsors are not paying up, so we are looking for a new sponsor. Meteor and Derry News havent paid up yet for the year ahead

We are in financial trouble. Not to the same extent as some other clubs, but we aren't secure. By any stretch of the imagination.

[gufct]

We are in financial trouble. Not to the same extent as some other clubs, but we aren't secure. By any stretch of the imagination.

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land

[pineapple stu]

Clearly, there's just about making ends meet and there's financial trouble. No-one's rolling in cash; doesn't mean there's cash flow problems.

[fergalr]

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land

Rubbish. There are several clubs who are living within their means and playing by the rules.

[Dodge]

Rubbish. There are several clubs who are living within their means and playing by the rules.

He didn't say that wasn't the case. he said all clubs are struggling for cash. Which they are

[Ezeikial]

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land

Why would you want to offend Drogheda fans by putting "Hunky Dory" and "Cloud Cuckoo land" in the same sentence? :)

http://www.droghedaunited.ie/news/single/id/1552

[Steve Bruce]

Derry City look like they have major cash flow problems especially with losing the two sponsors.

Renewing next seasons season tickets this season & competitions to get your name on their shirt. Looks like big problems in the North West

[pineapple stu]

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?

[Mr A]

I think the majority of the clubs in the premier are struggling financially to one extent or another.

Bohs- in trouble with 65% rule, ground deal looks to be unravelling, plan to increase revenue lacks credibility
Derry- have lost major sponsors, selling next year's season tickets early
Galway- struggled last year and while spending was cut the crowds have been poor this year.
Cork- well documented issues with revenue etc, etc.
Sligo- things likely to be very tight at best, struggled last year and FAI were very sceptical about their budgeting.
Dundalk- have already talked about needing to increase income.

[Leaguefan]

I think with everything going on in the league with regards to club finances it's only a matter of time before another club goes out of business.Some clubs seem to just stumble from one disaster to another and it would appear that they aren't taking any real steps to sort out their problems when even the dogs on the street can see the problems coming.I think that a lot of clubs in the EL have fooled themselves into thinking that there is a future for full time football here when the reality is that as it stands we are getting further away from it by the week.The facts are that the sponsorship isn't there,the tv revenue isn't there,the prizemoney isn't there & the saddest thing of all is that the crowds aren't there.Most joe soaps on the street have no interest in the EL & they more than likely never will.

[pól-dcfc]

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?

Everything isn't grand, but it isn't too bad either. The 2 sponsors didn't pay up, so a limited run of 500 season tickets are being made available. The Social Club is due to open in the next month, and that should sort out our cash flow problems.

[dcfc1928]

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.

Things are actually looking brighter for Derry with rumours doing the rounds of movement on the stadium, albiet a lesser overhaul than previously planned, and as the previous poster said, the social club will be opening in July.

The competition to get a name on the shirt is actually a novel approach, reflects the circumstances of the main sponser going into administration and the current economic climate. One lucky business could get their name of the shirt for £1000, not a bad prospect.

[pineapple stu]

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.
This is true, in fairness. But coming on top of the debts built up to the extent that transfer fees were going unpaid, it's having more of an effect than it needs to have had.

[pete]

Can Derry City fans please get their own financial trouble threat? Stop using our publicity as we work hard for it!

[Steve Bruce]

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.

Things are actually looking brighter for Derry with rumours doing the rounds of movement on the stadium, albiet a lesser overhaul than previously planned, and as the previous poster said, the social club will be opening in July.

The competition to get a name on the shirt is actually a novel approach, reflects the circumstances of the main sponser going into administration and the current economic climate. One lucky business could get their name of the shirt for £1000, not a bad prospect.

The competitions etc smacks of lack of money and need money quick IMO.

If things where rosy at the Brandywell how come they still haven't given Dungannon the money they owe?

[Dodge]

The competition to get a name on the shirt is actually a novel approach

Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

[Ash]

Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

I think Harps used to run that comp regularly ... or at least once anyways :p

[pineapple stu]

They did, yeah. Remember talking about entering in the outside chance that we'd win and get "Sheep shaggers" or something equally hilarious on their jerseys for a year. Did Monaghan do it too?

[harps1954]

Harps have been doing it for the past seven or eight years. In the last couple of years, since Donegal Creameries have become Main Sponsors, the draw has been for the back of the jersey.

Harps were looking for compaines to enter the 'draw' at €200 a go and regurarly got around 200 - 250 enteries bringing in between €40,000 - €50,000. In the last two years, where the prize was for the back of the shirt, I think the entry fee was €100.

Waterford done it at least once towards the end of the 90's as well.

[marinobohs]

I think the majority of the clubs in the premier are struggling financially to one extent or another.

Bohs- in trouble with 65% rule, ground deal looks to be unravelling, plan to increase revenue lacks credibility
Derry- have lost major sponsors, selling next year's season tickets early
Galway- struggled last year and while spending was cut the crowds have been poor this year.
Cork- well documented issues with revenue etc, etc.
Sligo- things likely to be very tight at best, struggled last year and FAI were very sceptical about their budgeting.
Dundalk- have already talked about needing to increase income.

with the above in mind anyone else see a huge fudge (even more than usual) in the FAI application of licensing "rules". economic downturn, unprecedended blah blah blah I can almost see the press release now

[stann]

Waterford done it at least once towards the end of the 90's as well.

We did it a few times, and it was always a very good money spinner. This year we had a back-of-the-shirt sponsor's draw too, which obviously wasn't as lucrative, but still raised a handy few quid.

It had f*** all to do with not being able to get a main sponsor Dodge. The amounts generated that harps1954 mentioned are spot on, and one year (the one O'Shea's Hotel won it I think) they made over €70,000 on it. A single main shirt sponsor would not have generated anywhere near that amount for a club like us.

[MariborKev]

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?

Be fair. A few Derry posters have been more than willing to accept and indeed point out issues at the club.

We are trying to say competitive with a top two who are basically insolvet, and are heading down that road ourselves at a rate of knots......

[pineapple stu]

Oh ok. A few did (yourself foremost among them). Others said that it was standard practice to delay creditor payments for six months, or that the amount was trivial and not important to clubs like Derry.

[blackholesun]

Renewing next seasons season tickets this season

I thought Bohs had that idea patented? :D

In fairness to Derry, a major sponsor going bang is out of their control, but while not exactly living beyond their means as badly as Bohs, Cork or Drogs have in recent times, they have been stretching themselves probably a bit too far in relying on success on the pitch to be financially viable. With Bohs and Cork both financial basket cases, surely a switch back to part-time or semi part-time football is sensible and even inevitable for Derry?

bhs

[marinobohs]

I thought Bohs had that idea patented? :Dbhs

Was it not Rovers (and others) that sold season tickets for future seasons ? I know Bohs membership scheme has an option for ten year and life membership but have not heard of future options for season tickets.

Idea not always bad and in Rovers case helped fund them until they got to Tallaght. Problem arises where a club spends future income now with no means of recouping in the future.

By the way Bohs are not in anywhere near the same position as Cork City. Bohs have not gone bust/bankrupt/ etc etc (at least not yet) and no amount of wannabe "experts" on this forum will change that. Yes Bohs need to address the expenditure/Income situation and yes it must be done ASAP but basketcase ? dream on

[LK37oldskool]

Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

We've done that here this season with the winner of the draw getting to be main sponser on the jersey,runners up got logos on sleeves and on shorts plus ads in the programme.It was a pretty good success for us.

[Mr A]

It would appear from reading the CCFC forum that they have until tomorrow to stump up the 100k or so to revenue and it hasn't been done yet.

Also, a catering firm (Great Stuff Caterers) are also taking High Court action against them and the sum isn't known but must exceed €38,092.14.

[A face]

Also, a catering firm (Great Stuff Caterers) are also taking High Court action against them and the sum isn't known but must exceed €38,092.14.

From what i gather, its not exactly like that. Their contract hadn't finished and another contract sign with someone else and the fact they both overlap is the issue .... I think .... not 100%

[Mr A]

The June 10th deadline passed without Cork lodging anything with the court. They're probably fine as long as the do it in the next few days though.