Cork City denied a licence; club to be wound up; FORAS to enter First Division

[tiktok]

Dan Murray has been stripped of the captaincy too, Riddy has handed it to Georgie for the season. That won't go down well, nothing against George but Dan, as long as he is at thr club, has to be our captain.

[Riddickcule]

Scanning the sunday papers and they all say there's a second group that want to takeover the club.
We know one is Quintas, who's the other?

[Doomofman]

Scanning the sunday papers and they all say there's a second group that want to takeover the club.
We know one is Quintas, who's the other?

Foras? Or is that part of Quintas(hint: I've no idea who or what quintas is)

[weecountyman]

Scanning the sunday papers and they all say there's a second group that want to takeover the club.
We know one is Quintas, who's the other?

I think this is where smoke and mirrors come in. Tommy will mess this about quite seriously and get the season started, make it to June when Roddy does a runner and claims, at first, it's for "personal reasons" and then reveals he'd not been paid since December and was tired of the commute (which he'd been doing since April) to Cork. Naturally he'll have demanded a pay off to go quietly, and when this doesn't materialise he'll be on every media outlet that can handle being done for slander and slate Tom, who then sells the club to a mysterious Arab Sheikh, fronted by a Nigerian Doctor, and he only finds out he'd been diddled out of the ownership of the club when the cheque, from the Bank Of Ojibwe, turns out not to be real - the fact that it was edible didn't trigger any clue for Tom who was desperate to save Cork from floods, depression and unemployment by giving the city a club in European competition.

On an aside, did anyone hear Tom on radio last night, it was Today FM as far as I know but it was a repeat show from the morning - I think it was the weather guy off TV3. Anyway, he came across much better than on Roddy FM and RTE, in fact only the completely heartless, or CCFC fans, would have denied he was opening up. He said that if he'd to do it again he would, but completely differently and that LOI football was more cuthroat that politics, that CCFC cannot die and that while supporters were mostly wanting him out, he wanted them to understand that he wasn't making any money from the club and that they will have a new owner soon. On the topic of players and staff revolting, he said he understood them and accepted their grievances and hoped the new owners would rectify it. About Roddy he accepted Roddy had lied about his contract in Malta, that they "took him at face value" and even that he signed a statement to the contrary. It was he, Tom, who forced Roddy to retract his false allegations but he didn't do anything to the detriment of "that Maltese club" because he didn't know the real situation. He hoped the new owners would give Roddy a chance but that they'd also "sort out" the Maltese because of the way it all happened. He ended with "I did my best, my best for Cork and for the football club, it obviously wasn't enough and now I hope the new owners will build on what I've left."

He mentioned new owners more than 7 times (I stopped counting).

[tiktok]

Didn't hear the interview, but Tommy playing the victim is already old.
Everything that has become an issue for him is of his own creation, everything! He had offers for the club back when we were in the High Court last August, he instead chose to adopt a brass neck posture and only for the deep pockets of the person now trying to buy the club, Cork City would have been liquidated, that's Tom's legacy.

When we came out of Examinership, he had a chance to start again properly on a clean slate and he didn't take it. Instead he started down the same path that Arkaga had been on before him. That's why we're back in the High Court AGAIN today facing ANOTHER winding up order from the revenue. The crocodile tears now is all about being his post CCFC life, wishing to be viewed as a martyr who gave his best but fell short in some vague hope that the people of Cork will forget what he was really like.

We won't
.......and Billy Kelleher has lost a few votes because of his involvement with Meaney and Coughlan for the next time he stands for election too.

[weecountyman]

Didn't hear the interview, but Tommy playing the victim is already old.
Everything that has become an issue for him is of his own creation, everything! He had offers for the club back when we were in the High Court last August, he instead chose to adopt a brass neck posture and only for the deep pockets of the person now trying to buy the club, Cork City would have been liquidated, that's Tom's legacy.

When we came out of Examinership, he had a chance to start again properly on a clean slate and he didn't take it. Instead he started down the same path that Arkaga had been on before him. That's why we're back in the High Court AGAIN today facing ANOTHER winding up order from the revenue. The crocodile tears now is all about being his post CCFC life, wishing to be viewed as a martyr who gave his best but fell short in some vague hope that the people of Cork will forget what he was really like.

We won't
.......and Billy Kelleher has lost a few votes because of his involvement with Meaney and Coughlan for the next time he stands for election too.

I understand where you're coming from, truly, and I do feel he could be a bit of a confidence trickster, both himself and his compadres have been very poor in their dealings with everyone and especially last week when Roddy was given carte blanche to rail against the FAI and try to rally fans. I didn't him believe when he said they were dealing with everyone in good faith, the Roddy - Malta saga was proof of that, but I think he saw glory, went for it and only when he was up to his neck in it realised that he was in trouble. I also believe that arrogance has cost him dearly, he could have been a major hero by bringing FORAS on board, but he didn't bother. I do hope that there is a good resolution to all this yet I do see him being in charge until the summer, Cork struggling on in the Premier and looking for a new boss by the time the Europa League rolls around.

[Macy]

.......and Billy Kelleher has lost a few votes because of his involvement with Meaney and Coughlan for the next time he stands for election too.
I know TNB was Kellehers election agent (property developer and FF TD in joined at hip SHOCKER!), but has he been sticking his oar in recently?

[tiktok]

I do hope that there is a good resolution to all this yet I do see him being in charge until the summer, Cork struggling on in the Premier and looking for a new boss by the time the Europa League rolls around.

I agree, I think there's a huge danger that he's pretending to engage in a buyout process to buy time and ultimately retain control
1. With the revenue winding up order, pointing to the potential buy-out as evidence he can find the money
2. With the FAI licence, they'll come under pressure from many quarters to give a licence to CCIFL on the understanding that he'd sell

Rumours are going around that 2 of the 6 contracted players have left, if he could get rid of all 6 I think he'd be happy that he can finance the club through next season because he probably buys into Roddys blather about the players he's buying in being affordable.

I think there's a danger that this could all be another game of brinkmanship that TNB is playing. I think few things would give him as much pleasure as being in possession of a licence and still in possession of the Club in a month's time, with 'mouthy players' gone by mutual consent and Roddy and the new sustainable side heading up to Sligo to compete in the Setanta Cup. The revenue may even take a chance on getting their money back after the rescheduled date if he can show that the wage bill for 2010 is significantly less than 2009, while income could be unaffected.

Because it's almost impossible that the due diligence and change of owner could be completed by Fen 14th the next few weeks will be a Mexican Standoff involving FAI/Licencing Body on one side and Tom/Meaney on the other. if the FAI blink and give Tom a licence while he's still in a position to pull out of a deal, it's going to get incedibly messy, not to mention that the price of the club could suddenly sky-rocket for potential buyers.

[tiktok]

I think Liam Meaney is Billy Kelleher's official Election Campaign Manager with Tom in the sidelines.
I'm not aware of Kelleher sticking his oar in, other than his rumourd word in Miriam O'Callaghan's ear to put a little comment at the end of the recent Primetime piece on Cork City FC [Kelleher was in the studio the same night in his Govt. capacity].
The thing is, Tom's name is toxic in many circles around Cork at this stage, people who associate with him are being tarred with the same brush.
Roddy Collins is already getting the 'Tom's lackey' attacks after he's stripped Dan Murray of the captaincy.

[Spotter]

I think there's a huge danger that he's pretending to engage in a buyout process to buy time and ultimately retain control

That seems like an extravagant conspiracy theory but, given the calibre of the guy involved, it's by no means unbelieveable. The situation where a private individual can have total control over a community-based organisation despite almost universal opposition is just wrong. It's a rare breed of megalomanic that has such a brass neck.

[weecountyman]

I think Liam Meaney is Billy Kelleher's official Election Campaign Manager with Tom in the sidelines.
I'm not aware of Kelleher sticking his oar in, other than his rumourd word in Miriam O'Callaghan's ear to put a little comment at the end of the recent Primetime piece on Cork City FC [Kelleher was in the studio the same night in his Govt. capacity].
The thing is, Tom's name is toxic in many circles around Cork at this stage, people who associate with him are being tarred with the same brush.
Roddy Collins is already getting the 'Tom's lackey' attacks after he's stripped Dan Murray of the captaincy.

You could have something there. When John Delaney was up in the Oireachtas addressing the committee (back in December), in the entourage was Tom Coughlan! Now, that may sound like strangebedfellows, but didn't he roll back into FF? And Delaney has been one of the FF brigade (at least I saw him at a fundraiser that was FF backed (for MS). Roddy stripping Dan Murray of the skipper job is something he'd do anyway. I would never read alot into it as most new bosses do it to make a stamp, plus if Dan is going to be leaving soon then it'd have to happen (not defending the man, just trying to give another side). It was very noticeable in his article yesterday how he deliberately only named his new found "signings" as honest. He did the same in Malta when naming club members who were "decent and hardworking", his omissions were meant to sting but showed him up as very petty and unintelligent.

tiktok you've put it very frighteningly close to what will turn out to be the truth regarding the licence. No matter what he'll hang on, hoping for a better time to leave, but it's not going to happen.

[tiktok]

You could have something there. When John Delaney was up in the Oireachtas addressing the committee (back in December), in the entourage was Tom Coughlan! Now, that may sound like strangebedfellows, but didn't he roll back into FF? And Delaney has been one of the FF brigade (at least I saw him at a fundraiser that was FF backed (for MS).

You've picked me up wrong there, I'm not suggesting any FF-Delaney-Coughlan conspiracy theory.
Coughlan was CCFC's representative on the League Committee which is probably why he forced his way in, he wouldn't miss something like that.

My [limited] understanding of Coughlan in terms of FF [I could be completely wrong] is that he was invovled in FF, joined the PD's and ran for election for them. He lost out and subsequently lost a lot of support in the PDs when he tabled a motion that they would be absorbed back into FF. Then he rejoined FF himself.

There is no love lost between Delaney and Coughlan.

[razor]

and that LOI football was more cuthroat that politicsAnd Tom has proved himself a complete failure at both.


I know TNB was Kellehers election agent (property developer and FF TD in joined at hip SHOCKER!), but has he been sticking his oar in recently?Guilt by association. Asbo Billy and Tom are best friends.

[razor]

BEFORE MISS JUSTICE LAFFOY
IN COURT 3
AT 11 O'CLOCK

NOTICE

WINDING UP PETITIONS

The attention of practitioners is drawn to Order 74 Rule 16 of the Rules of the Superior Courts (1986) which reads as follows:

The petitioner, or his solicitor, shall prepare a list in. the Form No 9 of the names and addresses of the persons who have given notice of their intention appear on the hearing of a petition, and of their respective solicitors, Or the day appointed for hearing the petition, a copy of the list (of if no notice of intention to appear has been given a statement in writing; to that effect,, shall be handed by the petitioner, or his solicitor. to the Registrar prior to the hearing of the petition.

A list of the names and addresses of the Directors and the Secretary of the Company must be included in the papers handed into Court on the hearing of any such petition.

FOR MENTION
1 THE GASTRO PUB COMPANY LTD -V-
CASTLERING HOLDINGS LTD 2009 7334 P

PETITIONS
2 BLACK SHORE HOLDINGS LTD -V- COS ACTS 2010 11 COS
3 CALLERVIEW PROPERTIES LTD -V-
COMPANIES ACTS 1963 - 2009 2010 32 COS
4 COPPER ALLEY CLOTHING LTD -V-
COMPANIES ACT 1963 TO 2009 2010 24 COS
5 CORK CITY INVESTMENT FC LTD -V-
COMPANIES ACT 1963 TO 2009 2010 23 COS

[tiktok]

BEFORE MISS JUSTICE LAFFOY

I wonder how long we can rely on her patience?
She must be sick of the sight of Tommy at this stage!

[Mr A]

Can't see any other outcome than an adjournment.

[tiktok]

Can't see any other outcome than an adjournment.

In fairness, with takeover talks underway, the revenue shouldn't challenge an adjournment.
It would be the right decision in the circumstances.

[Mr A]

On the other hand, it seems pretty clear that CCFC should not have a license for the coming season, irrespective of any takeover (based on the still players being owed so much money and probability of no tax cert).

Obviously the judge probably won't bother with that but there would be a certain amount of logic to just ending it all now. Chances are the FAI would then bring the FORAS entity into D1- which would be the best outcome all round I suspect (especially if the investors looking to buy the club then came on board with them).

[bluewhitearmy]

On the other hand, it seems pretty clear that CCFC should not have a license for the coming season, irrespective of any takeover (based on the still players being owed so much money and probability of no tax cert).

Obviously the judge probably won't bother with that but there would be a certain amount of logic to just ending it all now. Chances are the FAI would then bring the FORAS entity into D1- which would be the best outcome all round I suspect (especially if the investors looking to buy the club then came on board with them).

Shouldn't they really start in the A championship?

[tiktok]

Mr. A, this is the kicker really.
The entire country now knows

1. That CCFC have missed every deadline for player payment, the player demonstration was on deadline day
2. CCFC do not have a tax clearance certificate, evidenced by the revenue action today [after deadline day]
3. The licence itself was not submitted on time for deadline day, admitted on local radio by Liam Meaney on deadline day

There are very very clear and very very public breaches of the licencing requirements in play and [even though personally i would lie to see the club under new ownership in the Premier division next season] I don't see how the FAI can fudge a Premier division licence. There is no way in hell they can fudge a UEFA licence for European participation though!

[harps1954]

Shouldn't they really start in the A championship?

They should, but there will be a First Division spot available as Bray (most likely) would get the Premier Division spot from Cork City and that will leave 11 First Division teams.

The other thing they could do is reduce the First Division to 10 teams and start Derry and Cork (Foras) in the A Championship!!

[razor]

Case adjourned for 2 weeks.

[tiktok]

Shouldn't they really start in the A championship?

If Cork City in it's current guise is thrown out of the league, then two slots in the league will be available {Derry's slot is currently available]. No club from the A championship has qualified for these slots through the promotion criteria so the final place could [should?] be decided based on applications to the league and governed by licencing. If the FORAS application was to meet the 1st division criteria, they should certainly be considered alongside any other applicants.

Blame the FAI for looking to create the precedent with Derry.

[bluewhitearmy]

Id have nothing against Cork in First Division just thought the Deadline to apply has gone or have FORAS applied already?

[tiktok]

Id have nothing against Cork in First Division just thought the Deadline to apply has gone or have FORAS applied already?

FORAS have applied for a licence, members voted on it last October.

[eamo1]

Payment deadlines missed,no tax cert's and not even having the licence application in on time mean that if they were to be given a licence we should all just pack up and go home.Any shread of credibility the league has would be gone.I've still not bought a season ticket for this coming season.Still waiting to see what happen's with Cork.If they are playing in the premier league this coming season then i cant justify giving the league money by buying a ticket.My heart wants to renew my season ticket for my 13th season but my head says why support a corrupt league if Cork get away with everything thats happened?

[weecountyman]

Mr. A, this is the kicker really.
The entire country now knows

1. That CCFC have missed every deadline for player payment, the player demonstration was on deadline day
2. CCFC do not have a tax clearance certificate, evidenced by the revenue action today [after deadline day]
3. The licence itself was not submitted on time for deadline day, admitted on local radio by Liam Meaney on deadline day

There are very very clear and very very public breaches of the licencing requirements in play and [even though personally i would lie to see the club under new ownership in the Premier division next season] I don't see how the FAI can fudge a Premier division licence. There is no way in hell they can fudge a UEFA licence for European participation though!

If they didn't submit a licence application, then surely they're automatically out of the Premier. Case closed, regardless of not meeting requirements etc. But if they didn't submit a licence application, does that rule them out of the 1st and A?

As for FORAS, why shouldn't they simply slip into the 1st Division, with solid finance I am 100% sure the 6 players who've been treated so badly will sign on for the challenge and within 3-4 years the club will be challenging for a spot in Europe.

Meanwhile the CCFC name will slip away, along with Tommy Boy, Rod and their cohorts.

[passerrby]

Case adjourned for 2 weeks.

so now tom has the best of both worlds and does not have to pay revenue until he knows the outcome of licensing

[John83]

If they didn't submit a licence application, then surely they're automatically out of the Premier. Case closed, regardless of not meeting requirements etc. But if they didn't submit a licence application, does that rule them out of the 1st and A?
Cobh's wasn't complete (I think Padraig Smith said no financial documents at all), and they got to play in the A Championship. It would be silly for the rules not to give the committee that much scope to apply their own judgement.

[OneRedArmy]

so now tom has the best of both worlds and does not have to pay revenue until he knows the outcome of licensingIn fairness, the Revenue have only one responsibility*, which is to press for the course of action that gives them the best chance of getting the most money back.

The footballing consequences are only a means to an end from the Revenue's perspective.


*Ignoring that they have a moral hazard responsibility to ensure thay they are seen to be tough on defaulters, as lets face it, they don't have any credibility in this regard.

[tiktok]

Meanwhile the CCFC name will slip away

I wouldn't be so sure about that

[derm]

Shouldn't they really start in the A championship?

Foras applied for an A Championship licence but afaik they were advised by the FAI to upgrade this application to a 1st Division licence.

I firmly believe that TNB will not be involved in a LoI club when the league starts, I think the FAI will do whatever it can to make sure this happens. Even better, so will Tom, because at this stage it would take an almighty fudge to give the club any licence. If the takeover bid fails then so will the attempt to get a licence but Foras's application would succeed. If Coughlan steps down then there's a good chance that City will stay in the prem. Personally, I'd prefer if Europe was taken off us in this scenario, both as a sanction (and warning to other clubs) but also to allow the club get its house in order without the distraction that Europe offers.

[tiktok]

Foras applied for an A Championship licence but afaik they were advised by the FAI to upgrade this application to a 1st Division licence.

I wouldn't be so sure about that either.

[Scrufil]

In effect could Cork City be wound up as a club due to the Revenue situation? If that were the case then it is out of FAI hands currently.

[tiktok]

In effect could Cork City be wound up as a club due to the Revenue situation? If that were the case then it is out of FAI hands currently.

The revenue can wind up Cork City Investments FC Ltd., the holding company.

The club trading names, Cork City FC and Cork City Football Club issued through the CRO would then become the property of the court appointed liquidator who would be charged with achieving the best price for them. The membership of the FAI is, I'd imagine, not an asset and could not be sold on. The Club crest and Rebel Army Logo, specifically the one on merchandise, not the name, are also believed to be saleable assets [not ones that would raise much cash I'd think]. Player contracts are also assets that could be sold on by the liquidator as are leases if any exist.

It would be pretty much out of the FAI's hands, but even in liquidation there's a spider's web of possible outcomes e.g. someone can approach the liquidator and committ to covering all of the debts of the company, in which case the holding company and it's assets may be resurrected, but the licencing rules are clear that this sort fo transfer of ownership can only happen in the off season and can only be sanctioned if all of the debts are cleared, so the new owners [in much the same way as new purchasers now] would still be reliant on the quality of Tom Coughlan's licence application and the willingness of the FAI to fudge.

In the event of Cork City Investments FC Limited being wound up, best case scenario FORAS have a licence application lodged [Fran Gavin and John Delaney have both complimented it as professional in recent weeks, but that might just be turning the heat up on Tom Coughlan as if to say "we have a back-up Tommy, you should sell] and if FORAS meet the criteria of A championship/1st division etc. it's up to the Licencing committee and FAI to find a place for that club. You'd expect that FORAS would start speaking with the liquidator about the options of buying the name very quickly [also, since they would be the only licence holder, they are the only people who can make any use of the trading name of a football club, at least until 2011]. I think anyone who would bid against them for the name would be 'unpopular' among Cork CIty supporters. If FORAS can get a team going, but the CLub name from the liquidator, buy/transfer membership of the club from the FAI [it's pretty much what new Derry are doing, though Cork City's chairman is less inclined to hand the name over] then Cork City FC is back competing after a brief blip.

Huge battle and undertaking ahead of people if that's the case, but with a reported membership of upwards of 400 and the expectation of at least some goodwill from the community over at least the first season, you'd hope it could be at least an improvement on recent years. Long way back, especially if startng again in the A championship, but while it's no-one's first preference, I think people are ready to start again, square one and do it properly this time, without Hedge funds and property developers with no interest in football screwing it up for an entire support base.

[razor]

I think people are ready to start again, square one and do it properly this time, without Hedge funds and property developers with no interest in football screwing it up for an entire support base.Amen to that.

[HammerNThongs]

Amen to that.

Couldnt agree more. Would rather that in the First Division rather then staying in the Premier with some mysterious benefactor. Had enough of that ****e to last me a lifetime.

[tiktok]

Posted on facebook this morning

Tommy and Roddy conflict (http://www.grapheine.com/bombaytv/illustration-uk-559482db3c5a56bb9b1e367171fe59e7.html)

[yiddo]

Couldnt agree more. Would rather that in the First Division rather then staying in the Premier with some mysterious benefactor. Had enough of that ****e to last me a lifetime.

same here but I'm not sure if people realise the amount of work involved in running a club. It will take a huge effort from all FORAS members and not just those on the FORAS board of management.

[Scrufil]

Cheers tictok! I didn't expect such a detailed answer, but it does give a clear picture of how difficult a situation Cork City is in. Even though it is up to the court, with this saga it is anybody's guess as to the next twist or turn that will happen. I just hope there's not another 'Derry City' lurking on the outside that manages to overtake Cork on the post and out of the blue we find someone nobody has mentioned yet refused a licence.

[tiktok]

Where to start.......

Players were suspended and then PFAI told them due process hadn't been followed so they trained.
They're training a day when they get registered letters confirming their suspensions, except the clubs didn't know the addresses of 3 of the 6 so couldn't send the letters. Dan Connor roumoured to be up to an 8 week ban, the day after his loan move to Darlington was blocked because we were short of cover in the position. Then the Club supplied kit was rumoured to have been taken from the players.

Then to cap it all, Roddy and Pals investment rumours are rife!

[razor]

Then to cap it all, Roddy and Pals investment rumours are rife!I'm not sure I can take this anymore.

[John83]

I'm not sure I can take this anymore.
You probably wouldn't like Lost either.

[pineapple stu]

Why was Dan Connor stopped from moving? Surely his contract is void at this stage?

[weecountyman]

Where to start.......

Players were suspended and then PFAI told them due process hadn't been followed so they trained.
They're training a day when they get registered letters confirming their suspensions, except the clubs didn't know the addresses of 3 of the 6 so couldn't send the letters. Dan Connor roumoured to be up to an 8 week ban, the day after his loan move to Darlington was blocked because we were short of cover in the position. Then the Club supplied kit was rumoured to have been taken from the players.

Then to cap it all, Roddy and Pals investment rumours are rife!

I was called an attention seeker when I posted a link and article about this, Roddy does the same everywhere. He first caught TNB by telling him he would bring in 200k investment from Russian backers who fell in love with him in Malta. They went public in Malta and showed him for the spoofer he is. Then he tried to drag in John O'Connor but he backed away when he saw it was a 3-card trick. Now he's trying again and Tom is delighted to have all this going on. The club are treating the players with total disrespect but as someone else posted earlier in the thread (on Roddy's now infamous appearance on Newstalk off the ball, the one he slandered Floriana and apologised for) when he made a big deal over Maltese players not being paid up to date (when he knew they were paid quarterly - he said they were 3months without pay) and then when a texter said, what about the players in Cork, he answered, "That's no my concern, if they want to play they play. The club's the most important thing."

[Longfordian]

Why was Dan Connor stopped from moving? Surely his contract is void at this stage?

Has to be yeah. Maybe he thinks he won't get the money he's owed if he moves. I've a feeling he won't be gettting it anyway. He's better off moving and suing for the wages.

[HammerNThongs]

Has to be yeah. Maybe he thinks he won't get the money he's owed if he moves. I've a feeling he won't be gettting it anyway. He's better off moving and suing for the wages.

City fans are pretty much assuming that is the main reason why none of the "contracted" fellas have left yet. There must be a fair whack of money owed to justify hanging around and not just going somewhere where a wage is guaranteed.

Frightening when you consider that if the club gets liquidated, I dont think they'll get that much if any of it.

[Mr_Parker]

I was called an attention seeker when I posted a link and article about this, Roddy does the same everywhere. He knocked on the doors of several Irish League clubs in the past with similar.

[tiktok]

I assume the statement released by the FAI about the club who missed a deadline is ourselves, given comments in the Media last week by the Club's general manager that they were unlikely to meet the deadline for submission.

The Club has now missed all three deadlines to address outstanding wages to players and staff [Nov 15th, Dec 21st, Jan 29th]
The Club now seem to have missed a deadline and extended deadlinefor the submission of financial details [Jan 29th, Feb 3rd]

Right now the holding company has a €115,000 Revenue bill to prevent being wound up on Feb 12th.
Right now the club has a reported €150,000+ back pay committment to prevent losing a licence on Feb 12th.
The only place that level of money is going to come from is a takeover at this stage, will it happen by Feb 11th?
If not, the licence decision won't even need to be made because the company will be wound up.

Even after a takeover, how many other creditors and directors loans are hanging around in the background unseen!!!!
€100,000? €250,000? €500,000? €1,000,000?
Who knows, and he who knows, how well has he hidden it?

[marinobohs]

City fans are pretty much assuming that is the main reason why none of the "contracted" fellas have left yet. There must be a fair whack of money owed to justify hanging around and not just going somewhere where a wage is guaranteed.

Frightening when you consider that if the club gets liquidated, I dont think they'll get that much if any of it.

I suspect this is an element in players remaining at Cork. Also given the current economic climate there is no way that they will match the contracts they have with Cork.