UK consortium to takeover Galway Utd? [Archive]

Paddyfield

09/07/2009, 5:38 PM

http://www.galwaynews.ie/8093-exclusive-uk-consortium-holds-talks-united-takeover

A GROUP of Manchester based businessmen are in discussions about a potential takeover bid for cash-strapped League of Ireland Premier Division side Galway United, the Connacht Tribune can exclusively reveal.
Talks between United and the three men are still in the early stages, and details on the proposal are sketchy, but it is understood that the deal is the only viable option to keep United afloat at a time when it is losing thousands of euro a week due to a massive drop in gate receipts and advertising revenue, as well as an almost non-existent support from the corporate sector.
The present United board has been fighting a continuing losing battle to get money into the club - the most recent scheme, a special three-ticket deal for the League games against Cork City and Dundalk and the friendly on Sunday week against Millwall at a cost of €30 was offered, a saving of €15. The club hoped for an uptake of around 3,000 tickets. Only seven tickets were sold.
Some businessmen from Manchester attended a couple of games in Terryland last season, and talks began about a possible investment in, or takeover of, the club at that time. Those talks broke down, but speaking to the Connacht Tribune yesterday, United CEO Nick Leeson confirmed that talks had reopened

Ezeikial

09/07/2009, 5:44 PM

The present United board has been fighting a continuing losing battle to get money into the club - the most recent scheme, a special three-ticket deal for the League games against Cork City and Dundalk and the friendly on Sunday week against Millwall at a cost of �30 was offered, a saving of �15. The club hoped for an uptake of around 3,000 tickets. Only seven tickets were sold.

This sounds incredible! Surely it can't be true?

Mr A

09/07/2009, 6:11 PM

Yeah, as if they were ever going to shift 3000 of them!

Terry

09/07/2009, 8:13 PM

Word has it, that they are Nicks "mates" that are interested ! They are willing to take over the club to use it as a sort of stepping stone for eastern european footballers that want to make it to england ?

MariborKev

09/07/2009, 8:15 PM

Yeah, as if they were ever going to shift 3000 of them!

Aye, the LOI cynic in me went "3,000 were they mad?"

Dodge

09/07/2009, 8:31 PM

Aye, the LOI cynic in me went "3,000 were they mad?"

In fairness you wouldn't need a doctorate in LOI to think that was mad.

Surprised they sold 7 tbh

Hairy Bowsie

09/07/2009, 8:40 PM

So who owns Terryland Park?

Dunny

09/07/2009, 8:42 PM

So who owns Terryland Park?

Galway & District Football League

pixiehead

09/07/2009, 8:58 PM

Galway & District Football League

Its also part owned by us.

This is great news. Hope its for real :confused:

sheao

09/07/2009, 9:32 PM

Great for Galway if true.

eamo1

09/07/2009, 9:33 PM

Its either this or bust and so it has to be done.I just hope its not the type of situ they had(still have) at Hearts where they want to decide which players are brought in and not the manager.Its probably not a good sign for all local players but most werent good enough anyway.
Now where is my Latvian-English Dictionary or my Polish-English Dictionary?:).

rebus2008

09/07/2009, 9:55 PM

i think galway got the idea from our ex-leader future-con bertie. He always said that manchester was a great place to unearth a digout.

Hairy Bowsie

09/07/2009, 9:56 PM

Given the track record for clubs being taken over in recent years, i can't see where the optimism comes from?

If i was a Galway fan, i'd be bricking it. At least Terryland can't be sold from underneath you but i'd still be afraid.

number16

09/07/2009, 10:08 PM

Is owned 100% by the Galway & District League, so all that is being sold is the club & the franchise for LOI.

pixiehead

09/07/2009, 10:20 PM

Its crazy too. Irish businessmen supporting Manchester and weve to get a digout from Manchester businessmen:mad::confused:
I dont care if we bring in a load of forgein players as long as we are safe! and keep Derek O brien ;)

Mr A

09/07/2009, 10:26 PM

Aye, the LOI cynic in me went "3,000 were they mad?"

Exactly.. the point being that if that's the sort of numbers they estimate then no wonder they're in need a bail out.

I don't believe for a second that he ever thought they'd get into four figures, it just strikes me as a really bizarre claim to make, especially when you're undermining your own credibility when trying to get new backers in.

(And yes, I know I'm leaving an open goal here but I'm feeling generous)

Hairy Bowsie

09/07/2009, 10:26 PM

Mr A

09/07/2009, 10:28 PM

Yes, but Galway have no real assets.. so what could be in it for them?

Demoshield

09/07/2009, 10:29 PM

Its also part owned by us.

This is great news. Hope its for real :confused:

GUFC do not own any part of Terryland, in fact they own nothing. If the take over goes ahead the only thing they will be getting is �5000,000 worth of debt, as I imagine the board won't be in a position to pay this off as they are mostly involved in the construction sector, so won't be putting in any of their own money this season. It's this or bust. Nick & Michael D were on local radio last week outlining the dire situation of GUFC & one of them said if we could sell 3,000 of the �30 tickets they would be ok 'till the end of the season. Don't think they expected to sell 3,000 but were expecting more than 7. A half season ticket was also laaunched �99 for 9 games, again less than 10 sold. A patron schem was launched �25 per month for individuals, �100 per month for a business, very few takers again. The great Galway sports mad public don't give a **** about Galway United, it's the Manchester men or Adi�s.

Demoshield

09/07/2009, 10:38 PM

It's next to impossible to make a profit out of a LoI club. Everyone knows this. So are Galway fans not now asking themselves why a group of businessmen want in on their club?

I mean they're businessmen so they are about making money and they're well off, which suggests they're good at making money? So why are they buying a Galway (or any LoI club) when there is no chance of making money unless they all ulterior motives.

From what I gather, they will brig over x amount of young players from all over europe each season. After they shine here, a few can be sold on at a profit & thus the club will become self financing. GUFC own absolutely nothing, no stadium, no training pitch, no team bus, nothing not even a pot to p11s in. They are not here to make money in the short term & we have nothing they can take and sell, so nobody knows what would posses them to take over GUFC. Unless they are planning of winning the champions league in a year or two.............:p

Schumi

09/07/2009, 10:42 PM

Does this sound like Arkaga to anyone else?

Hairy Bowsie

09/07/2009, 10:44 PM

Does this sound like Arkaga to anyone else?

Well this is essentially what i'm getting at. It does sound like it could happen again.

dcfcsteve

10/07/2009, 1:21 AM

I'm glad to see I'm not the only one who feels uneasy at this idea.

For this to work for the 'investors' involved, I suspect that Galway will turn into an international halting site for starry-eyed footballers picked-up from all over Europe, played in a game or two, and invariably spat-out when they don't offer sufficient potential to be sold on to England. As that's where the real money is, they will have little interest in players who can do a job for Galway - only those they can sell on.

If their interest is in making money by acting as a wholesaler of footballng talent, then they will have little interest in how Galway performs. I predict a revolving door would need to be added to Terryland's changing room to accomodate the turbulence of endless players coming and going as the new investors pan for gold in the cheaper spots of European football.

For as long as such ifeas are viewed as the only way to save Irish football clubs, then our league is on a hide into nothing. Here's an alternative idea for Galway - stop spending more money than you bring in. If that means off-loading players when the widnow re-opens and/or gettign relegated, then so be it. That's better than being a whorr for bsuiness men who appear to want merely as a visa-granting machine, or alternativelt becoming a foot-note in footballing history.

brianw82

10/07/2009, 1:26 AM

I'm glad to see I'm not the only one who feels uneasy at this idea.

For this to work for the 'investors' involved, I suspect that Galway will turn into an international halting site for starry-eyed footballers picked-up from all over Europe, played in a game or two, and invariably spat-out when they don't offer sufficient potential to be sold on to England. As that's where the real money is, they will have little interest in players who can do a job for Galway - only those they can sell on.

If their interest is in making money by acting as a wholesaler of footballng talent, then they will have little interest in how Galway performs. I predict a revolving door would need to be added to Terryland's changing room to accomodate the turbulence of endless players coming and going as the new investors pan for gold in the cheaper spots of European football.

Agreed. There should be no need for something like this anyway, given the scouting networks the big clubs have these days.

For as long as such ifeas are viewed as the only way to save Irish football clubs, then our league is on a hide into nothing. Here's an alternative idea for Galway - stop spending more money than you bring in. If that means off-loading players when the widnow re-opens and/or gettign relegated, then so be it. That's better than being a whorr for bsuiness men who appear to want merely as a visa-granting machine, or alternativelt becoming a foot-note in footballing history.

To be honest, Galway did drastically reduce their budget this season, on top of the wage reductions they made in the middle of last season. Their expected revenue, as cautious as that was, has just collapsed. I really don't think Galway are guilty of any financial mismanagement here.

Dodge

10/07/2009, 7:52 AM

Agreed. There should be no need for something like this anyway, given the scouting networks the big clubs have these days.

I'd assume it was more to do with work permits, given the stricter codes of practice in the Uk (relting to international apparances etc). Once somebody is the EU, its far easier for them to move around the EU

endabob1

10/07/2009, 10:13 AM

I'd assume it was more to do with work permits, given the stricter codes of practice in the Uk (relting to international apparances etc). Once somebody is the EU, its far easier for them to move around the EU

Indeed, Arsenal park their ill gotten Africans in Belguim until they are EU affiliated and then work from there.

JC_GUFC

10/07/2009, 10:22 AM

For as long as such ifeas are viewed as the only way to save Irish football clubs, then our league is on a hide into nothing. Here's an alternative idea for Galway - stop spending more money than you bring in. If that means off-loading players when the widnow re-opens and/or gettign relegated, then so be it. That's better than being a whorr for bsuiness men who appear to want merely as a visa-granting machine, or alternativelt becoming a foot-note in footballing history.

That's a bit harsh - I think you'll find we have done that over the last couple of seasons and you will see Jay O'Shea leaving during the transfer window and possibly a few others.
We've reduced our wage bill from last season but I don't think anyone budgeted for the fact that our attendances would dramatically decline.

eamo1

10/07/2009, 10:32 AM

Galway Utd didnt do much wrong.As has been said last year they off loaded 6 players last July when they were about to go over the wage cap.DID BOHS OR CORK DO THAT??.They also have an even smaller budget this year with players on performance related contracts,eg;a third of a players weekly wage is a win bonus,if they dont win they dont get full pay.Support for them just collapsed this season.Hard to see why.When we were in the 1st division playing brutal football under Tony Cousins we were getting 1500-2000 at games.Now we are in the Premier League and playing better football(not hoof ball) and not averaging much above 1000,work that out:confused::mad:

Mr A

10/07/2009, 10:41 AM

It shows how difficult it can be to recover from one season of madness. When Galway got up they spent big but (almost) pulled it off.. then the budget was increased hugely again with no credible plan to bring in the money. That was the decision that still has the club on its knees. Their actions in trying to recover have been commendable but the timing of the economic maelstrom for them could scarcely have been worse.

stann

10/07/2009, 4:04 PM

The club hoped for an uptake of around 3,000 tickets. Only seven tickets were sold.

That is ridiculous. Whatever about the 3000 which no sane person could really have been hoping for, 7??? Surely there's more than that on the board?! :eek:

(and sorry Steve, it's hiding to nothing. :p)

sheao

10/07/2009, 9:43 PM

Does this sound like Arkaga to anyone else?
Hopefully not for Galways sake. Just look at the financial mess they left us in.

Terry

11/07/2009, 9:35 AM

From what is going around town, its nicks mates, apparently more man city fans (big football supporters, but well off ones) looking to get involved in the tranfer market profits. It will be all about the revolving door scheme, but in reality, that has always been the way anyway in Galway. We have no other option, we have tried every other way imaginable but the Galway public just arent interested in GUFC :(. The gates are down by at least 40% from last season even though we had the best start to any season since 1986 when we finished second behind shamrock rovers. Even poor mervue apparently only had 67 at terryland last night ???

micls

11/07/2009, 11:12 AM

Yes, but Galway have no real assets.. so what could be in it for them?

That's what we said about Arkaga.
Hope for Galways sake it's not similar

pineapple stu

11/07/2009, 11:38 AM

From what I gather, they will brig over x amount of young players from all over europe each season. After they shine here, a few can be sold on at a profit & thus the club will become self financing.
Scene missing scene missing...?

That is ridiculous. Whatever about the 3000 which no sane person could really have been hoping for, 7??? Surely there's more than that on the board?! :eek:
In fairness, by adding in the other two league games, you're ruling out all season ticket holders straight away. If UCD did such a scheme (and if I weren't a season ticket holder, and if I didn't get free into the ground anyways), I'd probably pay for all three games to give the club the extra E15. So you're ruling out a lot of people straight off. Although if the game was in Millwall, you probably wouldn't get 3000 at it.

Terry

11/07/2009, 12:58 PM

That is ridiculous. Whatever about the 3000 which no sane person could really have been hoping for, 7??? Surely there's more than that on the board?! :eek:

(and sorry Steve, it's hiding to nothing. :p)

Nick and Michael D. were on the radio yesterday and said they were hoping to sell 300 tickets? the 3000 was a misprint from the paper.

Ezeikial

11/07/2009, 1:12 PM

Nick and Michael D. were on the radio yesterday and said they were hoping to sell 300 tickets? the 3000 was a misprint from the paper.

Jeez, thank Gawd for that......sell another 2 tickets and thats the 3% mark hit.

Maybe call in the FAI Vantage sales team!

Terry

12/07/2009, 10:37 AM

Mr A

12/07/2009, 11:20 AM

Unfortunately most of the Irish public do not give a damn about their local clubs.

But ultimately what has so many clubs in serious trouble (including Harps of course) is insane overspending either past or present. Leeson can complain about public backing if he wants but the decisions made on his watch have crippled the club. In the LOI it seems you suffer far more for mistakes than you are ever rewarded for success.

Poor Student

12/07/2009, 11:34 AM

Terry

12/07/2009, 12:07 PM

Is that a scare story to push the deal through?

theres no pushing of a scare story, just the truth of the situation and a plea of the desperate ! :(

macka

12/07/2009, 4:19 PM

limerick to go up next year under scully.

GuisaSaigon

13/07/2009, 11:02 AM

limerick to go up next year under scully.

????????????

Mr A

13/07/2009, 11:12 AM

In fairness, it needed to be said and macka came right out and said it.

Well done that man.

dcfcsteve

13/07/2009, 9:38 PM

UPDATE: Was told last night that talks are at a very early stage yet and not at all certain, BUT, the worst news is that we are now at the stage that if it doesnt go through Nick is considering winding up the club before the end of the season !!!!! :( and still the galway public dont give a damn .

Is Leeson Chairman these days ?

It'll be hard to dodge the obvious quips if the club goes under with him at the helm :eek:

Mervue coming into the senior game can't have helped GUFC. I know it won't have been a killer blow, but it's just crazy to have two senior clubs in the city.