Cork City denied a licence; club to be wound up; FORAS to enter First Division

He wants a way to hang on without being seen to be there would be my reading on it. He still seems to think he has a plan that'll fool everyone. I can't think of anything else that makes sense. I think though that the Cork general manager Meaney's quote of the investors working on what they had to do to get a licence can be discounted as crap given the statement saying that the group had had no response from Tom & co since 5.30 Thursday. No payments has to = no licence regardless of what happens Monday. Isn't the Licensing committee meeting on Sunday?.

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Originally Posted by Longfordian

I think though that the Cork general manager Meaney's quote of the investors working on what they had to do to get a licence can be discounted as crap given the statement saying that the group had had no response from Tom & co since 5.30 Thursday.

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Are they Investors or Buyers ?

I obviously wasn't at the press conference so I don't know how Liam Meaney, Tom's mouthpiece, referred to them. The Cork forum had him quoted as calling them "investors", which would tie in with these people being offered seats on the board etc. They seem to see themselves as potential buyers and again this would tie in with them having turned down the offer. In short nobody knows what Tom is up to at present.

Edit: Latest talk on the Cork forum is that FORAS have agreed to throw their lot in with the consortium, taking a 20% stake for €100k. No word yet officially on what the exact status of the bid is but presumably the board are confident of everything being in place.

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Originally Posted by Buile Shuibhne

Are they Investors or Buyers ?

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No-one 'invests' in Irish football.

The word suggests at least a hope of a return.

In Irish football you don't even see your money back again, so it's donation not investment.

Anyone else listening to Newstalk right now (Saturday edition?) - first up a "word" with the Cork boss re yesterday's announcement.

Edit: Piece over - "The deal's done, we're just waiting now to find out what their intentions are." "No, I don't know what they want to do, we have players signed but I don't know about what they want." "I'd like to stay on, sure, it's a great club, it's go massive potential, great fans, great facilities, far better than at Bohs when I took over. At Bohs it was a shambles when I took over, when I left we'd become the best club in Ireland, and the best Irish club in Europe." "I'd love to stay on, I feel so at home and the locals are great, real supporters." On the CAS case "I can't speak about that as my legal people are dealing with it. What I can say is they're only after money, fair enough, they say they have a case." "I can't comment on that" (if they have a case). "If FORAS have any sense they'll invest with the consortium, that's if they really want Cork City to survive. If they want to be selfish and kill football in Cork then they'll keep shouting from the sides."

Pretty bland overall, tomorrow Tom is being interviewed on a Newstalk show whose name I didn't catch (or it could be tonight on an extra show).

Can Collins not go a day without mentioning all the magnificent things he did at Bohs :rolleyes:

If new owners come in can they release Roddy from his non-binding contract straight away as he is still with a foreign club?

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Originally Posted by Scrufil

If new owners come in can they release Roddy from his non-binding contract straight away as he is still with a foreign club?

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That made me wonder too, of course they can, as he admitted signing a false statement so if he tries it on with Cork for compo he'll have it taken from him double by the Maltese. I know I shouldn't feel it, but is there anyone else who feels a little sorry for the man. I mean, if brains were dynamite he wouldn't have enough to blow the hair out of his nostrils, but did he really think that going to a club already qualified for Europe was better than developing a club? Or worse, when he talks about loyalty - he had no problem slamming players for grumbling over not being paid for 3 months, then told lies about not being paid to gain sympathy and an excuse for running away from Malta. I do wonder about his mental state, he doesn't seem to grasp reality, plus Paul Doolin said only an insane person would want the Cork job (after leaving). All pretty sad.

Have a read of todays Star.The rubbish that Collins is coming out with is unbelievable

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Originally Posted by weecountyman

The statement concluded: "The offer that was made by Peter Gray and Michael O’Connell, along with the Cork City Supporters’ Trust, Foras, was submitted to Cork City FC at 5.30pm on Thursday the 11th of February. The consortium has not yet had a response from Cork City FC in relation to their bid.

This is something that has concerned me ever since this emerged, and now gives the "misconstrued" statement by the FORAS head a different hue. So basically before the members met, FORAS had already decided to throw in their lot with the O'Connell and a man who once took up a couple of sideline advertising hoardings and sponsored the match day ball a few times in Milwall (still a sponsor is a sponsor). The smell emanating from this is getting worse.

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The statement refers to the final draft of the document which was given to all concerned parties. I think the deadline for agreement is early Monday morning, so no decision was taken by Foras BoM. The final document was presented to members to vote on and it was decided to proceed with the takeover bid. All depends on TNB now.

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Originally Posted by weecountyman

That made me wonder too, of course they can, as he admitted signing a false statement so if he tries it on with Cork for compo he'll have it taken from him double by the Maltese. I know I shouldn't feel it, but is there anyone else who feels a little sorry for the man. I mean, if brains were dynamite he wouldn't have enough to blow the hair out of his nostrils, but did he really think that going to a club already qualified for Europe was better than developing a club? Or worse, when he talks about loyalty - he had no problem slamming players for grumbling over not being paid for 3 months, then told lies about not being paid to gain sympathy and an excuse for running away from Malta. I do wonder about his mental state, he doesn't seem to grasp reality, plus Paul Doolin said only an insane person would want the Cork job (after leaving). All pretty sad.

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Not really

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Originally Posted by derm

The statement refers to the final draft of the document which was given to all concerned parties. I think the deadline for agreement is early Monday morning, so no decision was taken by Foras BoM. The final document was presented to members to vote on and it was decided to proceed with the takeover bid. All depends on TNB now.

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Derm, what I truly don't understand is this. FORAS throw their lot in and get 20% of a company that already owes more than half a million (as well as other liabilities which will push debts up closer to a million). So all the "investment" disappears in one go and the club is back to square one in a year or less. From a business point of view for all concerned it would make sense for Tom and his cronies to go under, lose a licence they aren't eligible for anyway, and FORAS, with their new co-investors, lump into the 1st Division, develop a strong youth section, win promotion and in 3-4 years be in Europe and challenging Dundalk for the Premier (I can dream awake as well as asleep).

Joe, just read the Star, unbelievable! How can they print this!

"If you're half a man you accept there is a financial disaster going on in the whole of the world, not just in your little world, and your little house in Cork. You have to have some loyalty and respect for the people who did pay you over the past 5-6 years, that is the supporters who paid their money, you don't turn on them, and that's what has been done." "I'm not condoning what owners have done, because they didn't know what they were doing in the first place. Salaries were a disgrace, an abuse of finances, players laughing all the way to the bank. I blame them for having a laugh. We'll spin a yarn, we love Cork, we want to come back. it's the biggest load of crap I've ever heard."

Loyalty is paramount to any success, whether it's a marriage, a family or a football club. And it's not happening.

The first year I was at Dalymount......my success was the cause of Irish wages going up! Bohemians made a profit when I was there. Gravy train over, soft @rse players won't be in Cork while I'm here!

weecountyman - we had a four hour meeting last night, it was discussed to death - we have a very comprehensive legal document in place
theres a lot more to it than us just getting 20% and all the debts

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Originally Posted by El-Pietro

weecountyman - we had a four hour meeting last night, it was discussed to death - we have a very comprehensive legal document in place
theres a lot more to it than us just getting 20% and all the debts

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I understand that El-Pietro, that it's only a portion we're getting in the public domain, but it just seems like the supporters are selling themselves short, this is my opinion and I hope to heavens I'm wrong. I still believe Tom will be there for a lot longer yet and the farce will continue. But if the supporters can get rid of him, Roddy and the other ne'er do wells then it's going to be at least a move in the right direction.

It would be absolute madness if FORAS signed into this deal. The investors want €100k off them to acquire a 20% stake in the Club. FFS its not even worth that, they are essentially buying into the liabilities. FORAS would be better off starting with a new club from scratch and that €100k would be better spent on a new entity in the First Division. FORAS are selling themseles and the Cork supporters down the river.

CCFC should be put out of their misery and declared dead.

There's nothing comprehensve about it ****ie. You are essentially buying 20% of debt, end of. FORAS once again showing themselves for what they really are.....spineless.

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Originally Posted by El-Pietro

weecountyman - we had a four hour meeting last night, it was discussed to death - we have a very comprehensive legal document in place
theres a lot more to it than us just getting 20% and all the debts

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Start again with a new club wholly owned by Foras. The current entity is doomed through years of mismanagement. They will only drag Foras down with them.

Just to clarify.

The no.1 aim of FORAS, which you can find on our website, is and has always been to get a shareholding in Cork City FC and a meaningful role in the running of the club. The aim has never been to start again on our own and try to buy the name and history back. That was always a safety net, nothing else.

Last nights decision gave us the chance to fulfil our main aim, it also gave us the chance to have a meaningful role in the decision making of our club, Cork City FC. That mightnt mean much to you, but it means a hell of a lot to FORAS members, all of whom are Cork City fans.

If it comes to it we will rise from the ashes from liquidation and start again, but while there's any hope of saving the club in its current form then we will take it. Yes, itl be harder to honour the debts rather than just write them off and start again, but the same people who are whinging about this decision were calling Derry cheats for doing exactly that.

This deal will allow us to achieve a 20% shareholding in our club. Yes there are risks, but I have full faith in teh strength of our membership to pull us out of the hole we're currently in.

This is step one or a long process where eventually we will entirely own our club, and when we get there we'l know we did it the right way, paying what was owed, working hard and building up OUR club Cork City FC to be great again.

Weve done everything we can, its up to Tom now. If he turns it down then at least we can face the new season with starting again knowing we did everything we could to stop the old company from folding and screwing all the creditors.

We discussed the ins and outs of this in detail for hours, we know the risks and we aso know the advantages and forgive us if the opinions of outsiders dont shape our thinking. Were doing whats best for our club in our eyes. Well soon see if it works.

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Originally Posted by micls

We discussed the ins and outs of this in detail for hours, we know the risks and we aso know the advantages and forgive us if the opinions of outsiders dont shape our thinking. Were doing whats best for our club in our eyes. Well soon see if it works.

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Here here. Best of luck, whether it be in this consortium or a solo effort.

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Originally Posted by tippex

TBH I don't think that would happen unless there was backing from all other clubs.
It would take all clubs to row in on that.

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I agree. It wouldn't be in Bray's best interests.