Receiver appointed to Ferrycarrig Park

[Charlie Darwin]

What does this mean for Youths?


A receiver has been appointed to Ferrycarrig Park, the Newcastle, Co Wexford sports grounds built by Wexford TD Mick Wallace’s construction company, M&J Wallace.

Bank of Scotland (http://www.irishtimes.com/search/search-7.1213540?tag_company=Bank%20of%20Scotland&article=true) (Ireland) has appointed Tom Kavanagh (http://www.irishtimes.com/search/search-7.1213540?tag_person=Tom%20Kavanagh&article=true) of Kavanagh Fennell under powers conferred by mortgages registered by M&J Wallace and dated July 2008 and June 2013.

AIB (http://www.irishtimes.com/search/search-7.1213540?tag_company=AIB&article=true) and ACC Bank (http://www.irishtimes.com/search/search-7.1213540?tag_company=ACC%20Bank&article=true) have already appointed receivers to the company on the basis of other mortgages.

The 2008 mortgage against the sports complex, which is home to the Wexford Youths soccer team, is also against an associated 14 acres and a wine licence.

http://www.irishtimes.com/business/sectors/commercial-property/another-receiver-appointed-to-mick-wallace-business-1.1542907

[ForzaForth]

The Youths are supposed to hold a lease until 2015 or 2016 so I presume that would still take precedence over any sale by the receiver. Who would want to buy a football pitch, slightly used, with state-of-the-art facilities including a wine bar and licence, in a desirable location overlooking the majestic River Slaney? I'd say it would go for a song if someone was able to put in any sort of bid with the receiver. Locally, can only think of the GAA but I think the Wexford county board isn't in great financial shape either.

[A face]

I thought Wallace had handed it over to the club so this wouldn't happen, or at least there was discussion at some point that that was his intention

[Mr A]

He can't hand it over if there's a mortgage secured against it and that appears to be the case.

[nigel-harps1954]

Looking increasingly unlikely Wexford will be in the league next season.
Small piece in the star today saying they've confirmed to the FAI they'll definitely play their final home game in Ferrycarraig Park, but future is uncertain after that.

[Mr A]

I would be very sad to see them leave the league. Good young club trying to build themselves up- a hell of a challenge to take on and they are doing OK.

[NeverFeltBetter]

How tied are they still to Wallace financially, if at all?

[Fester]

Sad day, I like heading there for a match.

[Sean South]

It's probably to far from the town of Wexford to attract younger fans, maybe if there was access from the main road it would have helped a bit. I found it a strange place to visit with the state of the art clubhouse and wine bar, then rest the the ground was just a field with a tent on one side and a few portacabins.

[Comic Book Guy]

I really hope wexford stay, I'd say that they are situated well outside the town like kilkenny has certainly not helped but I'd also say 6 or 7 seasons without a promotion challenge doesn't help either. Irish people are event junkies simple as.
Hope that no matter what the ground is kept for football, one flower lodge is enough for any loi fan.

[ForzaForth]

The problems at Ferrycarrig Park received widespread coverage in the two Wexford local papers published today. The secretary of the club confirmed that the Youths are in the first year of a five-year lease and concluded by saying that he hoped the Youths would be there next season. The receiver would not provide any comment, when requested, in relation to the continued use of Ferrycarrig Park by the Youths. Finally, and a bit ominously for me, neither paper could get any comment from Mick Wallace regarding the situation.

On a couple of the other points mentioned above, it was a planning requirement that no access would be provided directly from the N11, so that meant that access had to be from the other side of the site. On the money owed to Wallace, there was an article some months ago in the Sunday Times that Wallace's company was owed €181,000 by the club, mainly, I think, for the rent of the ground.

Would be glad to hear any further news or rumours on this issue, of course.

[Longfordian]

There's a possibility the receiver could be able to break the lease if they're not up to date on the rent. Depends on if he thinks he could find a buyer and whether any buyer would be prepared to let the club stay on there. The other issue is how they could afford to pay any rent a new owner might want.

[nigel-harps1954]

The most annoying thing for me always has been the lack of a decent entrance to the ground. A small under-developed back road really hampers a super little ground to visit.

[citybone]

yes a entrance straight from the motorway would be great.

[disgruntled]

Another white knight bites the dust and another League of Ireland club is caught in the middle again.
The club will survive only if the people of Wexford want it so its up to them now.

[A face]

A Wexford Youths Supporters Trust (http://heartofthegame.ie/) would be fairly handy right about now. Sometimes things have to get really bad before they can get good again.

[disgruntled]

A Wexford Youths Supporters Trust (http://heartofthegame.ie/) would be fairly handy right about now. Sometimes things have to get really bad before they can get good again.Its clearly the only way forward for Soccer in this country.Proper structures need to be built within any club in order for it to move forward.Maybe they should get a copy of the "Heart of the Game" handbook.It might just save their club.

[Mr A]

Very difficult for such a young club who haven't threatened promotion to have a large and engaged supporter base to have an active trust.

[Superkeeper]

I still people should take there hats off to mick wallace, I think at this stage we know all his deals probably weren't above board, but at least unlike the other corrupt politicians put the money into trying to decolonize a local LOI side

[cornflakes]

The Youths are supposed to hold a lease until 2015 or 2016 so I presume that would still take precedence over any sale by the receiver. Who would want to buy a football pitch, slightly used, with state-of-the-art facilities including a wine bar and licence, in a desirable location overlooking the majestic River Slaney? I'd say it would go for a song if someone was able to put in any sort of bid with the receiver. Locally, can only think of the GAA but I think the Wexford county board isn't in great financial shape either.

Don't think the GAA can afford it, they spent a lot of money on a field in Ferns and don't have the money to develop it now. I was told a few years ago that the Wexford Football League were sitting on a large amount of money but I'm not sure how true that is.

Kevin Doyle has just donated a substantial amount of money to the club according to the Star. Looks like we'll be around next year!

[Charlie Darwin]

5-figure sum, apparently. Fair play to him.

[disgruntled]

I still people should take there hats off to mick wallace, I think at this stage we know all his deals probably weren't above board, but at least unlike the other corrupt politicians put the money into trying to decolonize a local LOI sideI wouldn't take my hat off to him at all.He was like all the other white knights.He used Wexford as a play thing just like Arkaga & Coughlan did at Cork City.When the s*** hit the fan the clubs went down the plughole like everything else these people were involved in.If Wallace was that interested in Wexford he would have set them up completely separate from all his other dealings which would have protected the club when Wallace got caught.

[disgruntled]

Don't think the GAA can afford it, they spent a lot of money on a field in Ferns and don't have the money to develop it now. I was told a few years ago that the Wexford Football League were sitting on a large amount of money but I'm not sure how true that is. Kevin Doyle has just donated a substantial amount of money to the club according to the Star. Looks like we'll be around next year!If this is what Kevin has done then fair play to him.He never forgot where he came from & who helped him reach the top of his profession.On the few occasions I have met Kevin he seemed a very honest genuine lad. A really smashing guy.I'm delighted for Wexford & I hope they go on from here to better things.

[citybone]

If this is what Kevin has done then fair play to him.He never forgot where he came from & who helped him reach the top of his profession.On the few occasions I have met Kevin he seemed a very honest genuine lad. A really smashing guy.I'm delighted for Wexford & I hope they go on from here to better things.
Totally agree, would have been nice if he joined Foras when we were in trouble, wouldnt expect a 5 figure sum but €120 a year would not break him.

[Charlie Darwin]

Any former player taking a financial interest in the league is a good thing. Cork wringed every penny they could out of Doyle so he hardly owes them anything. Mick Wallace is his agent so hardly shocking he'd give them a dig out.

[ForzaForth]

Word among the Youth's fans at Longford tonight is that the financial commitment by Kevin Doyle is enough to keep us going next year. Should be good coverage in the Wexford local papers next Tuesday and I'll try to post a flavour of it here.

[Charlie Darwin]

Is there any more info than was in today's Star? It seems WY will be fully amateur next season (as will Cobh and Shels) so should be sustainable for a while anyway.

[citybone]

Any former player taking a financial interest in the league is a good thing. Cork wringed every penny they could out of Doyle so he hardly owes them anything. Mick Wallace is his agent so hardly shocking he'd give them a dig out.

Every Penny? we got €130,000 for him and Shane Long, we didn't get any sell on clause money cos Tom Caughlan sold the rights and i think the sale from reading was after that company folded. Im not sure what that figure was but in know it was less than 50,000. When Reading first came in for Dave Mooney they offered €120,000 so Our Chairman at the time offered €120,000 for Steven Hunt in response. lol. they upped their bid for Mooney after that stunt. But Cork City did not "wringe every penny" unfortunately. Between than and Nissan Sponsorship deal that hit the club badly but we had a good owner at the time who covered the losses.

[Charlie Darwin]

I believe Cork settled Doyle's sell-on clause for a 5-figure sum when they were in trouble. Either way, you did very well from the transfer considering he was developed in Wexford and at Pat's. You can hardly complain about only getting a couple of hundred grand out of him considering his other clubs only got a fraction of that. He owes you nothing.

[disgruntled]

Any former player taking a financial interest in the league is a good thing. Cork wringed every penny they could out of Doyle so he hardly owes them anything. Mick Wallace is his agent so hardly shocking he'd give them a dig out. I thought Dolan was his agent ? Cork got €117k for Doyle plus add on's which Coughlan sold on later for pittance. Hardly a kings ransom. I think its good of Doyle not to forget where he came from. Pity the people of Wexford don't think the same as him about the club.

[Charlie Darwin]

Dolan had some hand in Doyle's transfer but he wasn't his agent. Strictly speaking, Wallace was his "advisor" or consultant or whatever, but either way he has a lot of influence.

Look, Cork have done better out of transfer fees than any other LOI club. There's no other club in Ireland that's got close to €1 million from transfers, but Cork have, and they blew it all. Pleading the poor mouth because Doyle has chosen to help out his hometown club is a bit rich.

[A face]

Look, Cork have done better out of transfer fees than any other LOI club. There's no other club in Ireland that's got close to €1 million from transfers, but Cork have, and they blew it all.

But that has little bearing on this debate though


Pleading the poor mouth

This is a privilege afforded to all LOI clubs, I think it was in the licensing or participation agreement or something.


because Doyle has chosen to help out his hometown club is a bit rich.

Look, end of the day fair play to Doyler, we'd love it to happen to our club. He has hero status now imo. My only concern now though is did it happen too fast, and not give enough time to circle the wagons. Not all the problems are solved and WY need people pulling together on this, for the Heart Of The Game.

[disgruntled]

Dolan had some hand in Doyle's transfer but he wasn't his agent. Strictly speaking, Wallace was his "advisor" or consultant or whatever, but either way he has a lot of influence.Look, Cork have done better out of transfer fees than any other LOI club. There's no other club in Ireland that's got close to €1 million from transfers, but Cork have, and they blew it all. Pleading the poor mouth because Doyle has chosen to help out his hometown club is a bit rich.Don't know where you got the poor mouth comment from as I have no problem with Doyle himself or any of his transfer fees what so ever.I was merely setting out what happened.

[citybone]

Dolan's brother worked with Reading and Pat told him about the selling price clause in his contract €117,000, So insider information. Allegedly.City's highest was €500,000 for Dave Mooney, not exactly €1 million. Arkada big plans for six months ruined us. Bringing back George and Danny Murphy was expensive as well as Colin Healy and Gareth Farrelly. The wages were unsustainable. We were Broke by July.

[El-Pietro]

€200,000 for Dave Mooney.

[Nah Nah Nah Nah]

€400k for Alan Bennett was the highest wasn't it?

[El-Pietro]

€400k for Alan Bennett was the highest wasn't it?
highest reported yeah. Though I've been lead to believe that the fees reported for Bennett and O'Donovan were artificially inflated by the chairman at the time in order to increase the potential fees received for players after that.

His apparent thinking was that if English clubs saw that our players were going for those kinds of figures they wouldn't be able to offer lower numbers afterwards. Of course, the actual effect was that the public believed we were getting these large fees and the clubs were talking to each other and knew the real numbers so there was no positive benefit.

I can't say this is 100% true but I'd have no reason to doubt the individual who told me.

[ForzaForth]

Conflicting reports in local papers in Wexford today regarding the financial assistance provided by Kevin Doyle. In one report, Kevin Doyle's brother, who manages the family pub in Killinick, has stated that there is no basis for the reports that Kevin gave a substantial donation to the club and that all he did was give a normal donation to the Wexford Youths' Golf Classic which was held recently.

The second paper has managed to get an interview with Mick Wallace who states that he is confident that the Youths will be playing LOI football next year. Mick has stated that Kevin has always been helpful to the club and mentions a donation by another well-known (and generous) Youth's supporter. So that's clear then....

Finally, both also report that Steven Hunt is very close to purchasing Brady's pub in Rosslare Strand. Steven already owns a house in Rosslare.

[ForzaForth]

Little coverage in this week's local papers on the Ferrycarrig Park situation. However, the vibes from the Youth's programme for the last home match against Mervue were mostly positive. Mick Wallace reported that he has already had a meeting with the receiver and has a good relationship with the mortgagor - Bank of Scotland Ireland. (Mick's problems have been mainly with ACC, I think.) However, he points out that BOSI want to quit Ireland and that they are trying to dispose of all their assets. Mick concludes by saying that he is confident that the future of the ground can be secured.

Shane Keegan's notes also suggest that he wishes to continue as manager for next year - one problem solved.

The substantial contribution from Kevin Doyle appears to have been simply an exaggerated rumour.

Was down in Rosslare during the weekend and Brady's pub is now showing "Sale Agreed."

[Charlie Darwin]

From what I've heard, the donation from Kevin Doyle was just his usual subs or whatever he contributes.

BOSI have been trying to get out of Ireland for a few years now but I think they realise they're stuck with a lot of the impaired loans from property developers. As long as Youths are able to pay up and Wallace isn't defaulting, you should be grand.

[ForzaForth]

Rumour circulating that FAI have put in a bid for Ferrycarrig Park. Could be trying to ensure that LOI football remains in Wexford, I suppose.

John Delaney is Santa Claus??

[citybone]

Works well with Cork City and the MFA/FAI. If they could get a better access from the motorway that would be good.

[Nesta99]

Rumour circulating that FAI have put in a bid for Ferrycarrig Park. Could be trying to ensure that LOI football remains in Wexford, I suppose.

John Delaney is Santa Claus??

Called Scrooge in Cobh!