Financial Survey of Clubs

[pineapple stu]

From the bit about the "ground situation", where it said Shels were exploring their options but still drawing down the lease on Tolka.

[finnpark]

Seems like its spreading.The Stars back page says Cork Players havent been paid for 3 weeks and they owe €800k to their Creditors including the Taxman.

Surely if they haven't being paid for 3 weeks thats an automatic points deduction?

The wages Cork are paying out are crazy. Gamble on over 3000 euro per week. Its laughable. Clubs, north and south, should be going together to put in place a wage cap. Its ridiculous to have 2 or more clubs within the same league bidding players wages up. The players here are simply not good enough to be doing that. At least Paul Cook brought in quality foreigners. Its about time Irish clubs looked for quality foreign players rather than offering basic Irish players more and more money.

[jinxy lilywhite]

Surely if they haven't being paid for 3 weeks thats an automatic points deduction?

The wages Cork are paying out are crazy. Gamble on over 3000 euro per week. Its laughable. Clubs, north and south, should be going together to put in place a wage cap. Its ridiculous to have 2 or more clubs within the same league bidding players wages up. The players here are simply not good enough to be doing that. At least Paul Cook brought in quality foreigners. Its about time Irish clubs looked for quality foreign players rather than offering basic Irish players more and more money.

Absolutely agree the wages are an absoute joke.
For second rate players who would just about hold their own in the championship.
A bit of realism is needed by clubs. Completely unsustainable

[passinginterest]

Surely if they haven't being paid for 3 weeks thats an automatic points deduction?


Don't they all become free agents if they go unpaid for 2 consecutive weeks? Like what happened to Waterford?

Can any of the Cork posters shine any light on the subject? I thought all was well going pretty well with the investors.

[saint morrissey]

From what part of the Indo article did you dream that up?

surely you could have read the article before responding to that in such a dismissive manner

[Buile Shuibhne]

I read the article online - link in the first post of this thread.

No mention there of 'ground situation'

[razor]

Seems like its spreading.The Stars back page says Cork Players havent been paid for 3 weeks and they owe €800k to their Creditors including the Taxman.I think its been 2 weeks since wages were paid, I heard the Meyler money went straight to the taxman but as far as I know there are a list of other creditors, but having said all that what football club doesn't have creditors?

[pineapple stu]

I read the article online - link in the first post of this thread.

No mention there of 'ground situation'
There's full survey results by club in the print version only.


but having said all that what football club doesn't have creditors?
I don't think "creditors" was the important part there somehow...

[razor]

I don't think "creditors" was the important part there somehow...I know, I know, the list of monies owed has been known for weeks, obviously the wages thing is far more critical.

[pineapple stu]

Well, it's more the size of the amounts due (obviously if it's true, blah blah blah)

[SMorgan]

There's full survey results by club in the print version only.

If I'd known that I would have got the paper.

Could somebody give the figures for each club?

[razor]

Well, it's more the size of the amounts due (obviously if it's true, blah blah blah)Well the amounts I had heard were 200K to the taxman, 100K to Hummel and 5K to Mayfield Utd as well as other monies owed to bus companies etc etc
Not sure they'd total 800K but then again I don't know for sure.
Although it was in "The Star"

[adamd164]

Been told by a very good source that our players are paid fortnightly and all that happened was, because it of the bank holiday weekend, the money was late going through.

[passinginterest]

Been told by a very good source that our players are paid fortnightly and all that happened was, because it of the bank holiday weekend, the money was late going through.

Sounds plausible. Wasn't it a payroll administration error that led to similar reports about Bohs not paying players?

Still worrying if the debts are mounting up that much for Cork. The top four clubs might have the best players but they're not going to sustain it very long running up losses like that. The likes of Derry and Rovers who are committed to working within their budgets are the clubs that deserve success.

[SMorgan]

Been told by a very good source that our players are paid fortnightly and all that happened was, because it of the bank holiday weekend, the money was late going through.

As a supporter of a club that has had its fair share of financial problems in the past that excuse a very familiar ring to it.

[pineapple stu]

If I'd known that I would have got the paper.

Could somebody give the figures for each club?
I have it at home, though won't be able to post it up until Monday. If someone wants to do so before, fire ahead.

Basically, it summarised every club under a few headings -

Turnover (half were "unknown")
Manager salary (everyone unknown except for a couple who gave details for the whole backroom staff)
Weekly wages (E50k for Pat's, E32k Bohs, E30k Cork, Drogheda unknown, the rest around E9k (Sligo) to E15k; First Division from E4k (Limerick) to E12k (Dundalk)
Highest earner (mostly unknown; Cork E3k "approx"; nothing concrete though)
Ground situation (e.g. own ground, rent from council, impending legal case)
Sponsor situation (name and how long's left)
Attendance
Ticket prices

A lot of gaps in it though. Presumably the Indo sent out a form to the clubs and collated what they got back.

[Titan]

The players at Cork did not go three weeks without being paid and Gamble is not on 3k a week. What did happen is whilst we were between cpo's a few bills went unpaid. Now that we have a new cpo he is sorting all that out and the overdue bills are getting paid. I'm not saying this is nothing as it was a fairly poor way of handling things by the club who are meant to be profesional but there is no way as much of a crises down here as the media are making out to be


Why the hell is the CPO sorting out bills?!

Did you mean CEO?

[razor]

The players at Cork did not go three weeks without being paid
Pat Kenny explains it on the back of todays Evening Echo as well as the news that we've paid our 200K PRSI tax bill.

The clubs new CEO Pat Kenny confirmed today that the outstanding tax bill had been paid and the players, who get paid fortnightly, would be paid up either today or tomorrow
"The players were not paid this week but that was all down to a delay in the transfer of cash from England into our account here and the August Bank holiday complicated matters."
"The bank were processing the money yesterday and the players will have it later today or tomorrow at the latest" he added
"Theres not a club in Ireland who don't have financial problems, but we've sorted the tax bill this week and we are in advanced talks with Hummel" said Kenny

[Mr A]

Doesn't sound hugely positive really. Sounds like they still have problems and were waiting on the money from Sunderland to pay the wages.

[pete]

City players wages are just one week late.

Wages to be paid this weekend (http://i202.photobucket.com/albums/aa212/ccfcforum/echo-1.jpg) as payroll mistake between UK (no bank holiday) & Ireland.

[SMorgan]

A good indication that a football club is having cash flow/financial problems is when it goes into debt to its gear provider and the FAI. What has happened in the past was that clubs were selling jerseys and tickets for international games and using the money to run the club. When that starts, the club is on a slippery slope.

[inmoscow]

involved in the construction industry 25 years,drogheda,bohs deals are dead in the water,no bank would finance these projects now,they are currently looking for revaluations on all landbanks that they are exposed to at present.if ure lucky enough to be sitting on a pile of cash at the moment,you can get 6-7%,no sweat.show me any property deal with a guilt edged return like that.

[gufct]

Bohs situation seems the worst with the contracts allegedly unsigned and Liam Carroll looking for his monies advanced back. Sean Connors case is due up soon and I can see him getting a hefty payout.

[bohs til i die]

Bohs situation seems the worst with the contracts allegedly unsigned and Liam Carroll looking for his monies advanced back. Sean Connors case is due up soon and I can see him getting a hefty payout.

Liam Carroll has only paid us money that is totally non refundable.

Other payments havent been forthcoming this year due to the ongoing court case with albion.

[pineapple stu]

City players wages are just one week late.

Wages to be paid this weekend (http://i202.photobucket.com/albums/aa212/ccfcforum/echo-1.jpg) as payroll mistake between UK (no bank holiday) & Ireland.
Don't think it's quite that simple to be honest. For one, the Echo part is surely (in part at least) an attempt to defuse the situation and shouldn't necessarily be taken 100% at face value. Also, it shows how close Cork are operating to overdraft limits if they don't have what - E60k? - to pay two weeks' wages. I work in accounts, and on the one occasion where we had cash flow problems, we busted a gut getting as much money in as possible make damn sure the wages wouldn't bounce. So either Cork are very unprofessional and lax about paying wages, or there's more to this than you're making out.

[Mr A]

Plus if they're struggling to pay the wages now what's it going to be like in the close season with no gates coming in?

[pineapple stu]

There is no close season. Cork will get gate receipts all the way up until the new season.

Aah! A close season?! Where's the money?!