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Kinda lost track of who's actually in danger amidst all the rumours and doom merchants so let's see if I have this correct,
Cobh are in serious trouble because of a lack of cash and some members wanting to return to the MLS.
Cork have realised that following the Peter Ridsdale model of how to build a successful club probably wasn't the bets idea and are now in serious danger from extinction, and more worringly, Danny Drew
Sligo could be gone in a week
Who else is in proper danger?
Kildare has promised to pay their players by 13th September - not sure what is happening there...
there isn't a hope in hell of that happening. we'll be here next week and next seasonQuote:
Originally Posted by jebus
Really? So all your financial problems are sorted?Quote:
Originally Posted by Red4Eva
No, just over-exaggerated by our management committee.Quote:
Originally Posted by Hibs4Ever
So your management comittee is lying to the country especially the people of sligo in the perilous situation of your debts. So how much is it really? €70,000, €100,000, €110,000 and so on.Quote:
Originally Posted by sligoman
From what I've read of fund raising has only made €44,000 with 5 days left to raise the remainder. Unless you owe only €44,000 it's not looking good for you
That's a relief. It's always under-exaggerated problems that are the worst. :pQuote:
Originally Posted by sligoman
Please tell us what the real situation is, then. If it was exaggerated (and I understand WHY this would have been done), what is the real figure the club needs?Quote:
there isn't a hope in hell of that happening. we'll be here next week and next season
Total creditors are 130k some are more urgent(revenue) than others , I expect will end up with close to 100k from the fundraisers once all funds are remitted , we will never go out of senior football its just a case of what level we willl be operating at whcih depends on the playing budget.Quote:
Originally Posted by jinxy lilywhite
Ironic how a Limerick man could start this thread with, the peace of mind knowing they are one those few clubs in the country with no financial bother :p
Its probably easier to say which clubs have no financial bother:
Limerick 37, Sporting Fingal, Drogheda (although if the new development doesn't go ahead who knows), Pats, Bohs, UCD, Bray and Wexford. Maybe there are others but im not too sure.
From what I hear/read (and I must admit on the grapevine) the majority of it is last years tax bill. The taxman won't hang around like any other creditor, he will go straight to the high court. These guys are ruthless and in the current economic climate they won't take any prisoners eitherQuote:
Originally Posted by londonred
Dundalk should be included in there. No financial worries this season. Looking at one of our best years. The board are looking to B/EQuote:
Originally Posted by Sam_Heggy
We arent out of the woods by any matter of means.Bohs have 2 big Court cases in the next Couple of months One which they will probably lose and will cost them in excess of €150 k plus costs.The second one the Albion case is much more serious should they lose it could see them folding with Debts of anything between €3m to €5m. Spending is totally out of control at Dalymount and the whole land swap,Stadium Construction and Sale could all collapse.
I read somewhere before that 13 clubs are operating at a profit this season. Don't know how true that is though.
Thats the big bit that has to be paid by end of august.Quote:
Originally Posted by jinxy lilywhite
The FAI said it, I think. It depends how much you believe management accounts. You can say anything in them.Quote:
Originally Posted by DmanDmythDledge
Best might be to go through the clubs one by one? This is the current state of the rumours, not necessarily facts!! Feel free to post corrections or other info.
Athlone - Very quiet this year. Seem to be consolidating after allegedly paying players a grand a week last year.
Bohs - Court case on the 6th of October. If they lose it, they appear to be screwed. They seem to have already spent the money they're due to get, and if they stop getting it, they certainly have to cut back.
Bray - Not a peep out of them, though any time I see their accounts, they've lost another quarter of a million.
Cobh - E250k of debts, some trivial, some apparently not. Signed more players in the transfer window, leading to their treasurer resigning.
Cork - Examinership.
Derry - Going part-time from next year.
Drogheda - Ground problems continue. Must be question marks over their licence next year (but will probably be fudged again). Playing away from United Park and/or not qualifying for Europe would hurt them financially, but they're OK while Hoey et al keep pumping in a million a year plus. How much longer they can afford to keep doing what they're doing in the current climate is open to debate.
Dundalk - All quiet, it seems.
Finn Harps - Don't know; always seems to be some smell of crises and overspending up there?
Galway - Have cut back drastically on their squad. Even if the club's stabilised again, relegation looks a strong possibility, which would mean more cut backs.
Kildare - Players threatening strike action if they don't get paid. Recent accounts had shown them E70k in debt, but making a profit and reducing that fairly quickly.
Limerick 37 - All quiet.
Longford - Presumably large debts remain from the last few years. Doesn't look like they'll be getting out of the First Division any time soon. Hard to see how they can clear what debts they have?
Monaghan - Don't take anything in, but don't spend anything either.
St Pat's - All quiet for as long as Kelleher wants it to be. Can't be classified as secure though.
Shamrock Rovers - Still seem to be a good example of how to run a club.
Shels - Still drawing down the Tolka funds. Need to sell their ground to pay off their debts, but there's been no word of any movement on this. If they don't go up this year, they will be doing well to get promoted any time soon.
Sligo - I agree their crisis was over-exaggerated to get people to react better, but they have to cut back next year to survive, it seems.
Sporting Fingal - Another rich man's plaything. Crowds seem to be poor enough, and many clubs have shown before that their model won't work. Will only last as long as the money's being pumped into them. Again, that's slightly more shaky with the current economic state.
UCD - Quiet enough, I hope!
Waterford - Cut-backs already this year; public appeals, etc. Not looking too healthy down there.
Wexford Youths - Mick Wallace's baby, but I don't see how he can be putting that much in given that they've good crowds, amateur players and a strong youth set up (are people paying fees to join the youth teams?)
I'd have Cork and Bohs as the two most serious cases, with Kildare, Cobh, Sligo, Waterford and Galway after that. Hard to know what state Shels and Longford are in these days.
yes its not needed till octoberQuote:
Originally Posted by jinxy lilywhite
Slowly but surely. It's going to take a while but the Supporters Trust is making inroads and most creditors are happy enough to take regular payments. Most. All going well we shouldn't be all that far off breaking even this year.Probably a small loss though. We will need to bring in the money we've budgeted for though.Quote:
Originally Posted by pineapple stu
Would agree with most of that, however you statement that our licence is "fudged" is libellous.Quote:
Originally Posted by pineapple stu
Brave, or maybe stupid
Alot of people seem to be confused as to our situation. We are not in bother. We are simply making cut-backs to the playing side of the club to secure the long-term future. That dosnt necessarily mean we are ****ed.
Also things could change depending on success this season. Should we win a few cups and qualify for Europe we may not have to make the cut-backs suggested, or maybe not as much.