D-Day for Rovers

[Ringo]

D-Day for Rovers

Friday July 15th 2005


SHAMROCK ROVERS face what could be a crucial day in their history today when a proposal to settle all debts is put to the club's creditors.

With the Examinership period due to end on Tuesday, time is running out for potential investors to rescue the club, though the supporters' trust - the 400 Club - have put together a package that they hope will ensure the survival of the Hoops.

The first task is to wipe out debts of over €2.3 million and a meeting will be held with all the club's creditors today when the 400 Club hope that their offer will be accepted.

If the meeting is successful, the 400 Club will then hope to be sanctioned as the new owners of Shamrock Rovers in the High Court on Tuesday but, if the creditors do not accept the deal, the future of the club could well be in jeopardy.

Owen Cowzer



© Irish Independent
http://www.unison.ie/irish_independent/ & http://www.unison.ie/

[Roverstillidie]

sorry to ruin your day ringo, but deal accepted.

400C now run the show

ROVERS ARE BACK

[A..J.]

Now we'll see the club being run properly..... :)

[Passive]

Happy ****ing days!!!!!


We'll have to wait until Monday for final, final confirmation. Disaster could still strike, but it looks like we've cleared all the hurdles.

I'm going to get so mangled tonight!!!!!! :D :D :D :D :D

[hoops1]

Jesus lads it could all be over
Amazing
I just refuse to get excited until Monday
Its been to long and the Judge on Monday will
be
1 a bohs fan
2 jackie jemeson back from the dead

it always goes pear shaped its Rovers for god sake

[Roverstillidie]

Jesus lads it could all be over
Amazing
I just refuse to get excited until Monday
Its been to long and the Judge on Monday will
be
1 a bohs fan
2 jackie jemeson back from the dead

it always goes pear shaped its Rovers for god sake

it would be most unusual for the judge to overrule the examiner and the revenue. unusual, but not impossible.

and a boyezzzzz fan judge? dont be stupid. that would imply a third level education and basic levels of literacy. no gypo filth has either of those.

[hoops1]

forgive me for coming across all bitter twisted and cynical
thats what following Rovers for to long does to you

[GavinZac]

great. sort out your tarnished image, ditch roddy and sign some decent players, and there might be a bright future.

[hoops1]

go away nuisance
we are having a rare moment of joy here among us Rovers fans
go annoy someone else

[A..J.]

What tarnished image.....? :D

[GavinZac]

go away nuisance
we are having a rare moment of joy here among us Rovers fans
go annoy someone else

im blody happy for you, how was i annoying?

my opinion: its good news that this happened and roddy isnt someone i would put in charge of a soccer team.

the rest is facts: whether it reality or not the media has been depicting some of your fans as hooligans recently, and the team you have isnt good enough for such a high profile club.

[Dyl10]

ditch roddy and sign some decent players

I think roddy is the right man for the job and they have several good players and in case you forget one of them is considered to be one of the best if not the best in Ireland

[GavinZac]

I think roddy is the right man for the job and they have several good players and in case you forget one of them is considered to be one of the best if not the best in Ireland

EIRCOM LEAGUE PREMIER DIVISION JUL 14
P W D L F A Pts
Cork City 16 11 4 1 29 9 37
Shelbourne 17 9 4 4 26 14 31
Derry City 15 9 3 3 20 11 30
Drogheda U 16 7 5 4 21 15 26
Longford Tn 17 6 5 6 14 13 23
Bohemians 14 6 4 4 16 15 22
UCD 16 4 6 6 13 19 18

Shamrock R 16 4 5 7 17 25 17

St Pat's 15 4 4 7 16 19 16
Bray Wands 16 4 3 9 19 29 15
Waterford U 16 4 3 9 13 23 15
Finn Harps 16 3 2 11 12 24 11

[NY Hoop]

Must be a dreadful day for ringo :D

Terms accepted.

Media must be devastated. They probably had the presses running with Rovers' demise for the front page but now there wont be a peep.

A new great start for our club. Run by fans and not gangsters, incompetent charlatans. Now for 3 points tonight :D

KOH

[WeAreRovers]

great. sort out your tarnished image, ditch roddy and sign some decent players, and there might be a bright future.

Sorry Mr. Bitter & Twisted but we (and our tarnished image) do have a bright future and it feels fcuking amazing to be able to say that for the first time in nearly 20 years.

KOH

[monutdfc]

Well done to Rovers Fans. Tremendous achievement to get this far.
It's a long road ahead, but after years of being sold out and mismanaged your fate is at least now in your own hands.

I can't say it's right that public money be used to complete the stadium for Rovers' benefit, and it is unfair on other clubs, but it's better than having it lying idle, and there have been much greater wastes of public money (you could have bought Monica Leech for about 18 months instead of Shamrock Rovers :D :D ). Likewise it is unfair on the creditors, and one could argue that as a consequence their position in the premier has been at the expense of teams who have paid their bills, but the new owners have not been responsible for the mismanagement of others.

Again, Well Done!

[GavinZac]

Sorry Mr. Bitter & Twisted but we (and our tarnished image) do have a bright future

did i not say that? or should i edit the post and put a " :) " at the end of it to ease your paranoia?

[thecorner]

EIRCOM LEAGUE PREMIER DIVISION JUL 14
P W D L F A Pts
Cork City 16 11 4 1 29 9 37
Shelbourne 17 9 4 4 26 14 31
Derry City 15 9 3 3 20 11 30
Drogheda U 16 7 5 4 21 15 26
Longford Tn 17 6 5 6 14 13 23
Bohemians 14 6 4 4 16 15 22
UCD 16 4 6 6 13 19 18

Shamrock R 16 4 5 7 17 25 17

St Pat's 15 4 4 7 16 19 16
Bray Wands 16 4 3 9 19 29 15
Waterford U 16 4 3 9 13 23 15
Finn Harps 16 3 2 11 12 24 11


do they get the points back

[DvB]

do they get the points back

Sadly, no!

Still a great day to be a hoop though!! :D

[GavinZac]

do they get the points back

no, i was making the point that even with their points back they'd still be toward the end of the table, with pats able to jump them aswell.

[Dee75]

Best of Luck for the future lads. But the 3 points are going North tonight!! C'mon City ;)

[Ringo]

Must be a dreadful day for ringo :D

Terms accepted.

Media must be devastated. They probably had the presses running with Rovers' demise for the front page but now there wont be a peep.

A new great start for our club. Run by fans and not gangsters, incompetent charlatans. Now for 3 points tonight :D

KOH

I'm actually having a very good day :D . I wouldn't go celebrating just yet, theres a lot more work to do. I do however feel sorry for the creditors who will only get 2c for every Euro owed(AFAIK), which probably includes most of us on the board as taxpayers. :rolleyes:

[WeAreRovers]

I wouldn't go celebrating just yet, theres a lot more work to do.

Cheers for the heads up there Ringo, we'd never have known otherwise. :rolleyes:
We started this process over 2 years ago, a lot of hard work (and cash) has gone in to get us where we are today. We're well aware that the real hard work starts now.

This is a good day for Irish football and for Irish football fans. Try not to forget that, eh?

And Ringo, without the 400 Club the creditors would have got nothing, nada, zilch because under the previous regime the club was heading for liquidation. There is no doubt about that.

KOH

[EnDai]

This is a good day for Irish football and for Irish football fans.

Correction, this is a great day! :D

In fact, this week has been incredible!!

[drinkfeckarse]

This is a good day for Irish football and for Irish football fans. Try not to forget that, eh?

KOH


Very true. :cool:

[Ringo]

And Ringo, without the 400 Club the creditors would have got nothing, nada, zilch because under the previous regime the club was heading for liquidation. There is no doubt about that.

KOH

You could understand why they'd be pi$$ed off, surely? To them everything still goes on. Good luck to the 400 club & good luck to rovers.We might yet meet in the play off's :eek:

[wws]

well done on getting rid of the previous gangsters that ran the club - you do know that the 400 club will have to raise 1 mill a year just to stay in the prem bottom 4???????

also what do you get for a 5 year ticket? someone said theyre 2500 - 2 and half times more expensive than pats! :eek: :eek:


that'll attract the punters

[hoops1]

where did you get the figure of a million from?

[Passive]

well done on getting rid of the previous gangsters that ran the club - you do know that the 400 club will have to raise 1 mill a year just to stay in the prem bottom 4???????

also what do you get for a 5 year ticket? someone said theyre 2500 - 2 and half times more expensive than pats! :eek: :eek:


that'll attract the punters

It's Eur2,500 for a five year membership of the 400 Club. Season ticket is optional. Infact most supporters don't take the season ticket but instead pay into games on top of paying out that lump sum. That's not to mention raffles, programmes, fundraisers etc.

It may be more than Pat's, but let's face it: Pat's is just a club, Rovers is an institution :p

[wws]

and the best place for rovers fans is in an institution!

[WeAreRovers]

well done on getting rid of the previous gangsters that ran the club - you do know that the 400 club will have to raise 1 mill a year just to stay in the prem bottom 4???????

Christ! I knew we forgot something!! A business plan for next season and the future!!! Thanks WWS. :rolleyes:

And as Passive pointed out, we're not looking for "value for money" for our €2,500, we just want to save the club we love. For instance I paid the €2,500, I still pay the €40 a month and I pay in to the games. The same can be said for a lot of us.

KOH

[wws]

Christ! I knew we forgot something!! A business plan for next season and the future!!! Thanks WWS. :rolleyes:

And as Passive pointed out, we're not looking for "value for money" for our €2,500, we just want to save the club we love. For instance I paid the €2,500, I still pay the €40 a month and I pay in to the games. The same can be said for a lot of us.

KOH


a business plan is a piece of paper - funding it requires money - if your revenue streams are what I would term fundraising (in the charities/parish pump gaa club sense of the term) than goodnight folks!

on the second point you and the hardcore 400 or so hoops will pay that and the extra per game to save the club (though i doubt all 400 have the finances to pay both 5 year and gate) - new fans - which presumably the target of any sensible business plan most certainly will not be in that hardcore category - and these are the group that........even as i type it i know they've got a new fans scheme.....god those clever hoops - they've thought of everything!

[hoops1]

exactly like a gaa club id say
take a walk into these gaa clubs
there all filthy rich
all run by members i can think of at 10 that are richer
than any eL club

[wws]

hoops1

id really love to argue this out but im off

i'll leave u with this no gaa club pays a player 1000 plus per week

[hoops1]

before you waddle of one gaa club run by members i know of
last year made 1.5million could pay 1000 a week at that rate
GAA is a great example to follow

[Billy Lord]

A couple of points:

1 - Yes, the stadium is being bankrolled by public funds. But if those idiots who ran Rovers into the ground had a clue, they wouldn't have lost ownership of a piece of real estate with a commercial value of 100 million!
If the club had been run properly they would've had no probs getting a mortgage, with the stadium built and paid for within about 7-10 years. Shamrock Rovers may get a home to rent, but the loss in real terms is massive and unforgivable. That site could've bankrolled a fantastic future for a well-run Rovers.

2 - the tax liability, reckless trading, fraud etc. The Revenue know who's responsible for the mess at Rovers, and it ain't the fans. Hopefully, they'll do what's necessary and bring the full force of the law to bear on those who committed illegal acts. That would send out the right signals to any EL club that's trading recklessly.
Since the 400 Club got involved three months ago, the tax liabilities due from SRFC have been paid in full and on time every month. This is the exact opposite of what went on under the Old Branvardians.

[Slash/ED]

So the 400 club are now offically in charge? Does this mean Rovers are now more or less a members club and do you plan to stay that way for the time being? Good week of news for the league.

[Comic Book Guy]

Absolutely delighted for all Rovers fans, a lot of hard work ahead but the 400 club have done brilliantly, fair play.

[trevy]

Fair play to Rovers fans for saving them but they'll have to keep hold of the finances especially with Roddy Collins around.He said last night after the game on tv he wanted at least 5 new players :eek: .Some people never learn :rolleyes:

[Ringo]

Fair play to Rovers fans for saving them but they'll have to keep hold of the finances especially with Roddy Collins around.He said last night after the game on tv he wanted at least 5 new players :eek: .Some people never learn :rolleyes:

The Longford manager manager was interviewed last night & said Roddy has a formula for relegation, then he changed the conversation. No team that Roddy managers gets relegated, he leaves first!

[higgins]

Can someone from Rovers explain how the 400 club are going to run the club?

Are you going to have any fulltime people involved in the club and is there a board of directors now? Who sits on this or what way is it made up.

I like the idea of fans running a club but is it practical. Ther is only so many times you can ask people to cough up 2,500 euro. Where will the funding come from in future when all the 2,500's are spent.

I wish you the best and really hope it works but Im a little confused as to how its working?

Also you should be sent to Div 1 having cleared all your debts after overspending your way to a place in the premier the last couple of seasons but thats another story.

[Sam Savic]

Yes, it's great to have a club run by the fans. Better than having one run by a football hooligan.

[Slash/ED]

In Rovers case you can get the best of both worlds

[A face]

Yes, it's great to have a club run by the fans.

I hope all pans out OK .... i have a feeling that the hard work is only about to start but kinda have a 'quietly confident' feeling in the last while.


Better than having one run by a football hooligan.

Hear hear (sp??)

I wont claim to know what had/is/will be going on at Rovers but will say that no matter how long yer'man was at the reigns, the job was always going to be up hill.

[Macy]

I like the idea of fans running a club but is it practical.
There's loads of clubs owned and run by fans. Longford and Bohs are members clubs for starters. Harps are a co-op, and probably the most sensibly run club in the division.

[Ringo]

Trouble flares on Rovers' returns

Sunday July 24th 2005


NICK WEBB

LATER this week the High Court will be asked to approve what many experts on small business believe to be an "extraordinary and precedent-making deal" with the Revenue Commissioners.

The Revenue will almost certainly agree to write off €1.34m in unpaid taxes, more than 95 per cent of the tax bill owed to it by the company that up to now has run Shamrock Rovers Football Club.

The club, currently managed by Roddy Collins, went into examinership a couple of months ago, owing more than €3.5m. The court-appointed examiner, Neil Hughes of Hughes Blake Accounts, spent the intervening period negotiating with creditors.

He returned a little over a week ago with an extraordinary settlement formula that suggested the principal creditors would be prepared to settle for a payout of 4.2¢ in the euro. The club could them continue in business.

During the meeting of creditors, the Revenue abstained on the settlement vote. But there was an understanding that if all the other creditors were happy to take a hit, the Revenue would not oppose it.

However, the move has had a number of contradictory responses. The football community appeared relieved that Rovers had been rescued from a grim financial future. However, the reaction of the small business sector has been circumspect and has questioned the Revenue's generosity.

Pat Delaney from IBEC's Small Firms Association said the decision was very unusual. He said it would be extraordinary for a small company to be allowed to get off the hook as Rovers had done.

"Because the Revenue are super-creditors they usually want to get it all, he said.

Mark Fielding, the head of the country's other small business umbrella body, ISME, agreed that it was a very good commercial deal for Rovers, and he added that he hoped it would set a precedent.

"I'll be asking questions about whether this sets a precedent for those in normal business, and if it doesn't I'd like to know why."

© Irish Independent
http://www.unison.ie/irish_independent/ & http://www.unison.ie/

[LFC in Exile]

Yes, it's great to have a club run by the fans. Better than having one run by a football hooligan.

As opposed to 400 of them? :)

[LFC in Exile]

"I'll be asking questions about whether this sets a precedent for those in normal business, and if it doesn't I'd like to know why."



Because most businesses going bust have some assets (e.g stock, equipment) but Rovers had no assets. Even "super-creditors" get nothing when there is nothing to give. 4.2c per €1 is better than zero per €1 if they didn't take the deal and Rovers folded. :ball: And this guy is in business. :rolleyes:

[Macy]

And this guy is in business. :rolleyes:
No he's not, probably tried once, but now he's a full time union official*.

*Always call IBEC and ISME business unions gets the right wing dicks noses. :D

[bigmac]

correct me if i'm wrong but aren't the players on Rovers' books considered assets? I'm surprised that they weren't forced to sell any players that might get a decent price. This could be a tricky situation for the club to negotiate, as it does set a precedent alright.

On another note, I hope that the 400 club make a success of running the club, wouldn't mind that kind of support in Waterford. I still think that the points deduction was a light penalty to pay after what went on under the previous management, but I'd lay a lot of the blame for that at the feet of the FAI who should have copped on a lot sooner to what was going on. It will be interesting to see if Bob Breen gives any real answers to the questions surrounding the licensing scheme and how clubs (Rovers as an example) were given a license when the directors were clearly making no effort to fulfill the criteria.

Anyway, for Rovers, the sooner the season is over and they can start rebuilding (in whichever division, hopefully not premier at our expense though!) the better for everyone so that this whole chapter in the club's history can be put to bed finally.