400 Club make formal bid for Rovers

[Poor Student]

400 CLUB ATTEMPT TO PURCHASE ROVERS
The Shamrock Rovers 400 Club has made a
formal bid to the Examiner to purchase
Shamrock Rovers FC.

The proposal would bring investment in
the examinership process from the 400
Club consortium to E500,000.

'We have put a realistic package that
can see Rovers out of Examinership, and
bring much-needed stability to the
club,' said 400 Club Chair John Roche.

The 400 Club has also had talks with
the SDCC confirming stadium tenancy
details for Rovers in Tallaght and met
with Fingal CC to secure Morton Stadium
while Tallaght is being completed.

From aertel.

[exile]

what will happen to their debts if they do manage to buy the club

[ThatGuy]

I believe that they will only come out of examinership if it is believed that they can pay them and survive, otherwise the club will be stripped apart. I don't want to see them disappear hopefully they will come out of this.

[Dr.Nightdub]

Examinership basically means their creditors get "ooops, sorry lads" cents in the euro.

[Green Force]

Oops

Thats very cynical Dr. Nightclub. It'll be a lot less than that!

If they get 3-6% it would be a miricale, but they'll want to accept because if they dont it turns out the examiner would be paid in priority in a liquidation and the liquidator wont get anything close to what the 400 club is offering.

However, upon payment the company is debt free.

[scrappy harp]

I hope there offer is accepted the rovers fans especially the 400 club deserve to own there club. They have worked non-stop to help ensure the survival of there club.

Best of luck lads the eircom league needs supporters like you's.

[dcfcsteve]

The sooner the fans take control of Rovers the better. Ever since Kilcoyne the club has been used and abused by people without its best intentions at heart.

The 400 club should become a supporter's Trust - structured in such a way that the club can never be run to the brink of extinction again....

[goattail]

It would seem that with all of the parasitical investores and property developers stalking the country the only way to ensure a club isnt screwed over eventually is for the true fans to take control.

[dcfcsteve]

It would seem that with all of the parasitical investores and property developers stalking the country the only way to ensure a club isnt screwed over eventually is for the true fans to take control.

Too right. Seems the only way to stop predatory investment in clubs is for either the fans to own the club as individuals, or for the club to be owned privately, but with the stadium in separate hands. That then removes the key asset from the hands of the club's owner, so there's nothing for them to strip out iof they want to cash-in.

The 400 club should speak to Supporters Direct in England about all of this. There's a lot of clubs in England with varying degrees of supporter ownership, and there's a lot of good advice and learnings from years of this type of involvement. I could put them in touch with one of the main men in the organisation if they wanted (he's from Downpatrick, and is happy to go over to Ireland to speak to clubs - he was over at Sligo a few months back).

[pete]

AFAIK the 400 club only have pledges from other supporters to put up the cash. How much of that 500k is realistic to receive?

I think creditors will just have to be lucky to get cents in the euro cos Rovers have no assets so closing them will mean 0 cent in the euro.

[higgins]

If Rovers are not going to pay their debts in full then they should be kicked out of the league or at the very least relegated.

[Roverstillidie]

If Rovers are not going to pay their debts in full then they should be kicked out of the league or at the very least relegated.

under what rule?

all perfectly legal and within the rules of the league.

[jorge]

Exactly,there are plenty of reasons why $hells shoud be kicked out of the league so stop moaning.

[Speranza]

Should they not already have been kicked out due to the recinding of their licence? Don't get me wrong I admire the work of the 400 club but it won't be fair on any team if they are relegated and Rovers stay up given the actions of Maguire and co.

[drummerboy]

If Rovers are not going to pay their debts in full then they should be kicked out of the league or at the very least relegated.

I think you should look a little closer to home about unpaid bills. Shels used Morton Stadium as a training camp for the beginning of last season. They still haven't paid for its use, which meant they weren't allowed use it this year. Another college which they use as a training camp is also awaiting long-standing monies from your club.