Waterford's financial future?

[Mr_Parker]

https://www.waterfordfc.ie/club-statement-lee-power/

[NeverFeltBetter]

Hmm. Real Pat O'Sullivan feel off that statement. It'll be "living within its means" next.

[marinobohs]

Well, Waterford, looks like you have a year to get your act together.

[A N Mouse]

All the ****e going on at the minute and all the shennagians that have gone on over the years why does this particular example of stupidity seem to me the most impressive?

Seriously on what grounds was he looking to appeal? They got a nod and a wink from someone at failure inc?

[Jack B]

And to think there's still some Waterford fans out there who hold Pats responsible for them not getting into Europe rather than their chancer of an owner thinking getting into bed with Delaney would be enough...

[Mr_Parker]

And to think there's still some Waterford fans out there who hold Pats responsible for them not getting into Europe rather than their chancer of an owner thinking getting into bed with Delaney would be enough...

Could the statement impact on their UEFA Licence application in 2020 given the financial commitment period will not cover the full licensing period?

[marinobohs]

All the ****e going on at the minute and all the shennagians that have gone on over the years why does this particular example of stupidity seem to me the most impressive?

Seriously on what grounds was he looking to appeal? They got a nod and a wink from someone at failure inc?

Waterford did present a legal case to CAS (and believed they had a chance) but I think what ****ed them off even more was the same 'nod and wink' people denying all knowledge of discussions ever happening. Welcome to the wonderful world of the FAI :D

[Nesta99]

Yup, the same people who asked for a handout of 18mil when they have been constantly told that as long as certain people remain involved there was no hope of annual funding being restored and while there are criminal investigatons onging too. The schoolboys rep that dug the heels in about staying on the board after the press conference on the finances i'd presume is now one of those that it has been agreed needs to go in January. There are no shortage o people in this country with necks like a jockey's ****** but this took it to a whole new level. Power is cut from the same cloth, spat the dummy when the rules were actually applied and to spend the money on going to CAS was just as daft. He reaped what he sowed by colluding with the wink and nod culture. Suck it up, and make another push - Waterford as a club are capable of getting in to the mix if it wasnt for the dose of the sulks by an arrogant owner. Power feels cheated? Well welcome to the club!!

[D24Saint]

And to think there's still some Waterford fans out there who hold Pats responsible for them not getting into Europe rather than their chancer of an owner thinking getting into bed with Delaney would be enough...

Thanks for that image that’s tonights nightmares sorted :shout:

[Briuk]

Its Sad because I dont think it was on Waterford's plan to qualify for Europe on their first season on the top flight. And if they hadn't got it they would probably still have the backing of Lee Power. So they have been victims of their own success

[Nesta99]

Its Sad because I dont think it was on Waterford's plan to qualify for Europe on their first season on the top flight. And if they hadn't got it they would probably still have the backing of Lee Power. So they have been victims of their own success

Thats a fair point. The added side to it is if Delaney had been an independant CEO and not done the 'i'll sort my club out' they could have topped the league knowing it wouldnt have meant Europe. We should remember that Power spun the name change as just a name change and not walking away from WUFC debts but thats what he did. Some people being too smart for their own good and it caught up with them - Power doesnt have a leg to stand on for his sulking.

[trevy]

It's good news that he is staying on but the budget is reduced again so it will be a tough season ahead. A few local young players from last years squad signed up again yesterday so need to find some experienced players too who are out of contract. The uncertainty over past 2 months wasn't good for anyone so I agree that a plan needs to be in place for when Power pulls out. It's a bad idea to be depending on one man alone for investment.
I don't think there's any need to worry about UEFA licence as very unlikely that we will qualify in near future. Waterford FC under Power are now 3 years old so eligible now anyway and don't need to rely on the unreliable word of the FAI that everything is ok.

[Mr_Parker]

I don't think there's any need to worry about UEFA licence as very unlikely that we will qualify in near future. Waterford FC under Power are now 3 years old so eligible now anyway and don't need to rely on the unreliable word of the FAI that everything is ok.

You should not be taking comfort from having 3 year accounts available, as part of the process includes looking forward as well as back and the statement gives little to help in that regards.

[marinobohs]

It's good news that he is staying on but the budget is reduced again so it will be a tough season ahead. A few local young players from last years squad signed up again yesterday so need to find some experienced players too who are out of contract. The uncertainty over past 2 months wasn't good for anyone so I agree that a plan needs to be in place for when Power pulls out. It's a bad idea to be depending on one man alone for investment.
I don't think there's any need to worry about UEFA licence as very unlikely that we will qualify in near future. Waterford FC under Power are now 3 years old so eligible now anyway and don't need to rely on the unreliable word of the FAI that everything is ok.

At least Waterford have been given a season to put some alternative in place. whatever happened (and we can all speculate regarding the European place) it obviously soured Power and he could easily have walked away.