Cobh take step towards fan ownership model

[Mr A]

http://www.eveningecho.ie/sport/cobh-take-step-towards-fan-ownership-model/


The club will hold an AGM in 28 days time to get the new committee and trustees legalised and formulated and the new trustees have no legal responsibility for what went before as the club ran into debt and eventually sold their ground and bar for a sum of €400,000 to the FAI back in 2012.

Sounds positive, although I'm not sure what the article means in places. The new model isn't really described, nor is the mechanism by which the old debts are separated from the new entity.

[marty]

Old debts will still be there,it just means that after a period of inactivity a group have got together and took on the running of the club with the backing of the season ticket/members.

[outspoken]

50 euro membership gives you free admission to matches that's a bargain

[outspoken]

Also was it ever announced that the FAI had bought the ground? I don't remember reading about it

[Longfordian]

It was widely reported at the time alright. Delaney confirmed it I seem to recall.

[Nesta99]

Also was it ever announced that the FAI had bought the ground? I don't remember reading about it

I thought the FAI refused to buy St Colemans so as not to set a precedence, which resulted in people pointing out the United Park example. Not selling the ground to clear debts resulted in Cobh leaving LoI i thought!

[Comic Book Guy]

I thought the FAI refused to buy St Colemans so as not to set a precedence, which resulted in people pointing out the United Park example. Not selling the ground to clear debts resulted in Cobh leaving LoI i thought!

People also pointed the precedent of Bishopstown being purchased in 1996 too. As it was they got St. Colman's for an absolute song as well:mad:
The outrageous thing from my view is that the people 'running' the club at the time suspended the constitution of the club to allow the sale.
The ironic thing is that prior to that both Ramblers (and Bohs) were the only members run clubs in the league but I'm delighted to see that the membership and constitution are restored. Some good people are involved with the club now which is great.
Please God we'll never go back to the bad bad days of 2008 -2012.

[Mr A]

As it was they got St. Colman's for an absolute song as well:mad:


The bright side being the club can buy it back for the same price.

[Macy]

The ironic thing is that prior to that both Ramblers (and Bohs) were the only members run clubs in the league but I'm delighted to see that the membership and constitution are restored.
As far as I'm aware, Longford Town have always been a members owned club (certainly were at that time). I think Athlone are, and have always been, too.

[Mr A]

I thought Athlone were privately owned?

Edit- I've started a new thread on club ownership. Will keep this for Cobh specific stuff.

[Martinho II]

As far as I'm aware, Longford Town have always been a members owned club (certainly were at that time). I think Athlone are, and have always been, too.

correct. the time Roddy Collins and his crew were linked with buying the club in 08 it was the supporters club who were influential in their objections to Roddy takin over the club!

[outspoken]

correct. the time Roddy Collins and his crew were linked with buying the club in 08 it was the supporters club who were influential in their objections to Roddy takin over the club!

But the SC don't actually have any financial say in the club? Is Jim Hanley not the owner of the club? Someone a bit better with the financial side of things might be able to explain better to me how we are set up

[Longfordian]

It was never set up properly as a members club. There was always a limited company which owned the club. Some years back a new company was set up to run the football club and separate it from the company that owns the ground. Members of the football club weren't members of the company but had traditionally elected the executive committee which ran the club day to day. That hasn't happened of late, why I don't know. The shareholders and creditors of both companies are publicly available. Financially the club is pretty stable at the moment but there is a reliance in a few different ways on the goodwill of one man, who to give him the credit he is due has kept the club alive for the past 15 years or so.

[outspoken]

It was never set up properly as a members club. There was always a limited company which owned the club. Some years back a new company was set up to run the football club and separate it from the company that owns the ground. Members of the football club weren't members of the company but had traditionally elected the executive committee which ran the club day to day. That hasn't happened of late, why I don't know. The shareholders and creditors of both companies are publicly available. Financially the club is pretty stable at the moment but there is a reliance in a few different ways on the goodwill of one man, who to give him the credit he is due has kept the club alive for the past 15 years or so.

Makes you wonder if that man ever had to step away for any reason where the heck we would be, luckily enough Munnelly seems to be a great investor in us but again if he were to step away where are we left? I think every club should be fan owned