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I don't see how tbh. Either way he's racking up a big loss. Why not sell it for €1?Quote:
Originally Posted by Kiki Balboa
Is he worried if he declares personal bankruptcy that they'll seize his assets to repay creditors? Is Dundalk really an asset? What's there - a few jerseys?
Ouch! You mean save in US taxes?Quote:
Originally Posted by Kiki Balboa
That's the rumours.Quote:
Originally Posted by LTFC
It's not about siezing assets... But gaining tax relief in future from liquidated assest from bankruptcy in the American system.
The problem with any option like examinership, Scarp etc is there has to be at least enough money to keep paying the bills including Revenue (current sums).
An examiner wont start the process unless there is a way of paying bills including his own fees as they fall due so if BA isnt willing or capable of paying saleries etc you cant enter these processes.
Maybe he can get someone to come in who will guarantee to pay these bills while the club goes through the process of examinership and gets the debts written off.
Couple of problems with that will be the losses during examinership including the fees will probably be a few hundred grand.
Also an examiner is legally obliged to get the best deal for the creditors so someone could agree to front the losses during examinership and then find themselves in a compeitition with another party who enters the fray looking to pick up the club on the cheap without paying the examinership costs and covering losses during the period in question.
On the plus side if you look at the losses plus costs as being the purchase cost of buying a debt free Dundalk its cheap enough and might interest wealthy fans,
Based on multiple examples of how real world sh!!t has turned out? Yes.Quote:
Originally Posted by Nesta99
Whether practically achievable or not, doesn't that reflect the major flaw in the LOI set-up as it stands?Quote:
Originally Posted by Nah Nah Nah Nah
That is, in the absence of a pyramid, there is no overriding "moral hazard" for an owner, whether by incompetence or worse, screwing with the finances of a club, since he knows that the club will be able to reform as a "phoenix", whether he is still at the helm or not? This is unlike eg Spain, whereby if a club goes into examinership, La Liga will impose two relegations i.e. out of La Liga entirely and into the regional leagues below, which are part-time.
Nor will there likely be any other replacement clubs able/willing to step up from below and take their place in the LOI.
Neither is there the "safety net" of lower league football available for a team to drop down to while they address their financial problems and turn the club around etc. In England for example, you see clubs like Luton, Stockport, Chesterfield, Wrexham etc, drop out of the EFL entirely, without it being the death sentence it used to be. And even in the little 'ol Irish League, when eg Bangor got into financial difficulties in the Premiership in 2015/16, they held their hands up, managed their debts and saw out their fixtures until the end of the season. They then declined to apply for an IL licence the following season, even for the Championship, instead dropping down into Intermediate football. Since when they have regrouped and are now back up in the Championship again, pressing hard for promotion to the Premiership.
So that unless or until the FAI/LOI successfully address this defect, however difficult and long it takes, the league is surely always going to be prone to this sort of problem.
My ire had to do with EYG commenting at every opportunity about P6, and now, where was the foresight to make absolutely legitimate calls of doom with BA last winter. There is no comparison between current and previous owners and P6 when only one in that group did what was demanded by fans and didnt leave the club on the brink. Flawed but not the chancers that they were labled the day they bought the club. The madness of things is that it wouldnt be a shock if there were people in common if there was a white knight effort however little im actuay expecting that to happen. What was different about BA, hope I suppose, what he was saying made sense, no big promises, cliched soundbites - I never said never with this guy, I do try to give things a chance before rolling out the 'careful now' signs.Quote:
Originally Posted by A N Mouse
I also dont see it as particularly unusual for football fans to bask in the glory of a successful era - whats the point otherwise. I dont recall and winding up of rival fans that was any different to other eras and bya and large on here its good natured and civil.
You will have to be more specific about the latter highlighted comment!?
So you state the obvious then?Quote:
Originally Posted by EatYerGreens
Things still up in the air but sounds a hell of a lot brighter than it did this morning in terms of attracting a new owner. How trustworthy this new group of yanks is is another story…
https://www.irishexaminer.com/sport/...-41477140.html
We have no wriggle room to consider to too much depth, the trustworthiness of prospective new owners, survive and maybe fans might unite for he future. It was the same with BA, it was presumed about P6 and local ownership were automatically passed.
If it happens it will once again be a case of wait and see how owners perform - there is no crysal ball, it may work out it may not, it may kill the club or it might be the time where the deadwood will be cast aside.
It remind me a bit of an old property developer tactic, propose a totally unacceptable situation, create outrage, offer a compromise plan which was always the actual plan all along but there are no objections as its better than other proposal. Fans, even those with pre-existing anti American attitudes, non sport related, may take this rather than no club at all. Not planned obviously but billionaire known Americn P6 to unknown American consortium via an unknown American based and local dysfunctional owner.....fr away fields and all that.
So if this takeover goes through will your fans finally see some sense and start building a rainy day fund in case this 4th attempt at new ownership goes tits up?Quote:
Originally Posted by Nesta99
I certainly hope so!! But I also think we are a long way from having Sligo levels of willing to commit and fundraise which just on population we should be aiming to beat, miles form Bohs membership and community engagement. There will be the let someone else do it among the fanbase and may even be some of the most vocal with gripes. There is a lack of unity that maybe just maybe if we survive that it might put people on the same page with the kick in the aras!Quote:
Originally Posted by Another Bohemia
Horrible horrible day, and wouldn't wish that on any LOI fan, so hard to work and not be side tracked by the stress and worry of the whole day.
To be still alive and kicking and past the dreaded 5pm deadline is all and more than we could have asked for. Then the news of the 500k grant from Govt / Dept of Sports for pitch and lights as long we are still in biz around mid afternoon was a real boost and probably meant this story moved on a bit, as it has become a little less scary.
https://www.irishexaminer.com/sport/...-41477140.html
Not out of the woods yet, work to do (a lot) but still alive.
But isnt the grant to another entity - not sure how that helps the current situation.
The floodlights and pitch need replacing at end of this season.Quote:
Originally Posted by LTFC
Anyone potentially taking over knows they have 500k towards this guaranteed now. I remember reading it was going to cost 700k to get both done
Of course, and has to be ring fenced for ground stuff, but it has to be a help in any takeover people coming in, as that is probably 50-65% already funded going towards the pitch and lights bill, so less for any new group to spend, but a reminder we are not out of the woods yet, the grant only pays if we are still in business !Quote:
Originally Posted by LTFC
News tonight seems a takeover will happen tomorrow, wed at latest, but we have been here before, and nothing to be taken for granted until its signed and sealed.
Yes. But you still argue the toss over the obvious.Quote:
Originally Posted by Nesta99
Commenting about P6 at every opportunity? WTF?! I honestly think this BA situation at Dundalk is affecting your mental healthQuote:
Originally Posted by Nesta99
BTW - Anyone done a welfare check on Maxi and called in on local petrol stations to see if he's been round yet?
Lads all this bickering, am I the only one who thinks the league, be it premier or first will be worse without a Dundalk team, time to circle the waggons whether you like them or not, we've all known for years that the model wasn't going to work but would you rather go to gortakeegan than Oriel
No your not. We have lost clubs before but losing Dundalk would be a disaster in my view - our second most successful club, with a long and distinguished history in Irish soccer. You dont want that to become a footnote, and equally I dont want to see them do a Cork or Galway and break from the league even for 1 year.Quote:
Originally Posted by vinnie
My club is only 40 years in the LOI, and shockingly only 11 clubs have a longer continual league presence than us.
Ah Vinnie you would miss if we had to go, from parking at the Train St, quick pint, maybe food in Kennedys, short walk to oriel, if in stand nip into upstairs bar in the stand for a drink, bit of banter.Quote:
Originally Posted by vinnie
I had the craic with loads of decent Rovers fans who drove up in the past and met them in these spots.
Hopefully things are looking good now, but won't be 'celebrating' just yet, nothing signed and sealed, and we are by far not out of the woods, but things appear to be moving:
From all but dead in the water on Monday am (still not confirmed mind) to a possible comeback of dreams..............
https://www.independent.ie/regionals...mpaign=seeding
Maxi is an absolute Gentleman of a man.Quote:
Originally Posted by EatYerGreens
This post reminded me of 2006 when the League of Ireland thought it was so much better off without Dundalk, and kicked us out of the Premier league because our DVDs weren't as nice as others.
At the same time, Drogheda officials were lobbying for reorganising the league so Dundalk would fold and all of Louth could support one team.
A decade later, it was Dundalk - not Drogheda or Galway - that was a major part in rejuvenating the League, both domestically and internationally, and is synonymous with being a true hotbed of LOI football.
Fortunately, Dundalk got over the pompous and sanctimonious attitudes back then, and will do again now.
Obviously, having a border/industrial town have pride in itself still offends a lot of people here, who just wish reprobates like us would go away or at least, know your place in 'our' football.
Id argue the toss over you believing you had some profound 'foresight', and that you are incorrect in your assessment of the particulars of P6 who are not responsible for the current situation.Quote:
Originally Posted by EatYerGreens
Another snide comment be it on Maxi or P6 or Dundalk or my mental health, nice!. You have commented extensively on P6 before during and after their ownership including the 'too soon' stuff when I first suggested that you were repeating yourself for not getting the credit you felt was due. You havent applied the same obsession to other club ownerships or even the subsequent Dundalk ownership sagas? But fair enough to put an end to this you were on the pulse EYG well done, credit where it's due, genius intuition!:rolleyes:Quote:
Originally Posted by EatYerGreens
So there may be a new American/local owner at Dundalk, premature to call it yet but we know even less about these than previous. BA investors staying on too. As has been suggested Id like the two interested groups to get involved even just to get Donal Greene on the board, his expertise would be particularly handy to have and a former player and fan, best of both worlds, avoid SCARP and a fans voice on the board. There is now also a call for supporters to unify and rebuild the Trust with the Supporters Club and little fiefdoms might end. If ths comes to pass it will be the greatest of escapes and arguably the clubs biggest achievement if it unifies and ends complacency not just with supporters but the town in general. It was mad hearing people that have been generally indifferent over the years, and big occasion regulars only, suddenly invested when the club was all but gone.
Quote:
Originally Posted by Nesta99
We all behave like dicks on here, at least from time to time. And not saying it was any more obnoxious than what went before, but I do believe some exchanges stifled debate and contributed to falling engagement that's being discussed elsewhere. And while nobody wants to see a club disappear, there will be a few people who are taking a measure of happiness in the discomfort, real or imagined, of certain posters - I don't see anything particularly unusual in that for this forum.
I won't pretend to be over all the ins and outs of the saga, but the departure from Kerry raised a few eyebrows. The 'bring in investors' thing was a big red flag, there different ways to phrase it, but that exact one always screams empty promise to me. And yeah I was referring to Roddy Collins, how many times was that proffered as an inducement for taking him on as manager?
At some point you quizzed EYG on Derry fan's foresight. There were people asking questions, and pointing out what was going on before the **** hit the fan
That an awaful lot of pearl clutching for someone that gotten over their pompous and sanctimonious phase :DQuote:
Originally Posted by Kiki Balboa
Quote:
Originally Posted by EatYerGreens
I cant apologies for being a dick, its second nature but I dont think Ive stifled debate, I enjoy it to tedium which could effect engagement, if this is the case I do apologies and am hard skinned enough to take it being pointed out. I dont recall taking issue with any Roddy comments, par for the course albeit I do like the chap equal part chancer and equal part self belief and again someone who would laugh at caracature of himself, he is a flanker after all. I am probably the worst at mentioning GLITW classics like 4th biggest budget or selling thing twice but I would class that as good natured slagging at worst and I havent fallen out with any Bohs fans over bees and no mow may in Dalymount.Quote:
Originally Posted by A N Mouse
I havent basked in the demise of other clubs, proper dickish behaviour, but have absolutely questioned how Cork, for example, under FORAS, with a constitution that ruled out past errors broke their own rules - I dont think fan owned models generally work, some sort of hybrid is needed imo (like Rovers) and Cork were an example of this but trawl this forum and you will find me stating this opinion but you wont find any pointing the finger shouting and stamping my feet with I told you so. Ive asked questions about Rovers and the risk to their fan 50% and while being sacrosanct they were a (hyperbolic) penalty from risking their shares on Euro money, though my point was more to do with thinking Bradley is not as much a managerial great irrespective of his record, that they should not have been in that footbaling situation, than finances as Rovers wouldnt go to the wall even if fans had to give up shares beacuse they have significant value and DD would love to have a Celtic feeder club to himself.
Dundalk fans have no say in the runnig of the club but I have been openly critical on the best fans in the league and questioned levels of wider activism, that I see a whole lot of a sense of entitlement, joked that some Dundalk fans think the club should pay them to go to games, cited Sligo as the polar opposite with regard to fan contribution to finances beyond matchday/season tickets. Im not blind to the issues, I have no choice but to hope that owners are not charlatans and if they are let them be very very wealthy ones like P6 who as Ive said previously let a messer in but were not pulling out until fans called for it and under their ownership won leagues and cup, Europa League groups, paid all players and staff in full during a worlwide pandemic shutdown and didnt go on furlough, Committed more financially to club development than others, didnt drain the cash reserves when leaving the club and left it solvent - so where exactly is the 'told ye so disaster'?
Ifs and buts - if SK had stayed I have little doubt that P6 would still be here and Dundalk would have more league titles, its was a particularly unique set of circumstances that occured (losing SK, Mike Tracey with pandemic performances thrown in) and the subsequent demands of fans that changed that ownership so was it the failure its claimed to be by Mystic Smug? Or almost the exact opposite - fans wanted them out so they went leaving money and sliverware....THE error of Dundalk fans of recent when they werent ready of willing to step in to the breach.
People vilified Gerry Matthews, who took on the club when others wouldnt, built the YDC, refurbished the stand, relaid the pitch did a bunch of expensive work on an old ground that chews up money, to the tune of 7 figures +. Yes he ws difficult to deal with when his own businesses were crumbling and he wanted something back out of the firesale of DFC but his tenure wasnt a disaster nor was he the doom overlord property developer that he was called then. P6 were ridicuous at times but history will reflect on their ownership in more relative terms in due coure as has been the revisionist view of GM's ownership.
The current situation AGAIN has nothing to do with P6. I questioned EYG himself not Derry fans as a whole. He is entitled to his opinion, I question why his need to repeat it regardless of our different perspectives. He had no more idea of how things would pan out any more than I do with predicting when Derry might actually fulfill their potential and win the league, maybe this year maybe not, who knows. To claim otherwise is just bs. Ive a prediction, real foresight which I will in due course, confirm multiple times in hindsight how accurate my prediction was - A LoI club will have financial difficulties in the future! and I will say I 'see I knew it would happen!!!' Or maybe I should just regurgitate double contracts and NewCo Derry City FC and just say I knew that was going to happen all along and dredge it up at opportune moments it would be no different - I had no idea that was happening but Im claiming i knew it al along!?
I know Maxi is a cartoon like character on here, he was so idiotic it was ridiculous, he served his time for that and he truly regrets it, he lost a lot more than time served as a result - he will continue to be infamous but the coment on his wellbeing I think is distasteful and commenting on my mental health is lowbrow, a lazy retort.
John Temple,a barrister is the man leading the Dundalk takeover per Dan McDonnell
Have St Pats settled their case with Dundalk S'OD yet? Never heard of him but there will be professional obligations to his membership of the bar to act in a responsible manner. Could be an excellent development, person to have involved, he could be a disaster and not have the backing. We wil have to wait and see what the future brings!! EYG any predictions?Quote:
Originally Posted by joey B
Pats case still rumbling along, last i heard
And of course it goes further than the local Dundalk area. Dundalk are down to play Sligo Rovers this weekend, if they go bang before then where does that leave us ... no home game and 20k in the hole with wages to pay to players and staff. So for Kiki to say Sligo Rovers fans seem to be taking delight in Dundalk demise is laugable.Quote:
Originally Posted by Another Bohemia
https://m.independent.ie/regionals/l...418276062.html
"We want to bring the club to a UEFA category four venue in an effort to compete with Tallaght Stadium for both national and European games”.
This type of chat makes me wonder if they live in the real world.
https://www.dundalkfc.com/takeover-a...h-john-temple/
Takeover confirmed on Dundalk’s social’s.
It’s most importantly great news for Dundalk fans and the institution of Dundalk Football Club but also good news for the integrity of the league,talk of expunging results that seemed a real possibility would have been an awful look for the league…..
Great to see it getting sorted.
Is Ainscough gone? He shouldn’t be let near a club in this country again
Hang on, do we want the FAI to carry out rigorous due diligence on new owners or not?
Happy for Dundalk that they will still have a club till the end of the season at least. The statement mentioning them still needing to assess the viability of the club and it's facilities wouldn't inspire confidence in the long term though.
Peak 6 didnt make such grand statements but sure he is a local man so everything will be grand like it was last time compared with people who had no attachment to the locality. Love this comment "examine the viability of the club and its facilities going forward", So if they find its not viable???Quote:
Originally Posted by brendy_éire
I dont think its wrong to have lofty ambitions. Its possible on an incremental basis and to knock plns for stadium development comes across as damned if you do damned if you dont. Negatives are based in the unknown which is always the case with new ownership yes? Why was BA selected over this consotium last year? Positives are of course the stay of execution, the hope that a new owners will be a success and do the right things but that is always an unkown. It is good that the alternative group are being met with, that investors from BA efforts have stuck and are being facilitated. As with any consortium and board there will be a lot of voices, if the second group are included they were advoacting a fan minority stake, there can be too many voices too. Comments from the new owners when previously unsuccessful were a little odd in mentioning solar panels to reduce cost, sensory rooms, cofee shop but maybe creating an activity hub will work along with necessary additional non football income streams. As per our norms at Dundalk FC in recent yers I will hold off judgement on new owners until such a time that there is somethin to judge. I think we can call BA's ownership a fail bar averting the ultimate disaster in the end.
I don't think anyone genuinely wants to see Dundalk go out of football (bar perhaps the odd brain-dead Drogs tribalist). The league would definitely be worse without yee.Quote:
Originally Posted by Kiki Balboa
But I do suspect many fans just wish yees hadn't collectively been such insufferable pr!cks for large parts of the last decade, when the club was to various degrees built on sand and a lie. There were years where this forum became essentiailly unvisitable due to the constant petty Dundalk-Cork sniping and chest-beating that used to go on.
So no-one wants Dundalk FC to go away, as you self-pityingly claim. It's the arrogance that needs to go. Hopefuly this sorry episode (which helps no-one in the league) injects a bit of much-needed humility into your fanbase. Though judging by the closing lines of your post above, I won't hold my breath.
Sure where's the fun in that?Quote:
Originally Posted by Burnsie
So from missing wages to 24 hours until liquidation to takeover confirmed - all in what, two weeks?
Typical LoI weirdness if nothing else