Petition to wind up: Cork City Investment FC Ltd

I think with everything going on in the league with regards to club finances it's only a matter of time before another club goes out of business.Some clubs seem to just stumble from one disaster to another and it would appear that they aren't taking any real steps to sort out their problems when even the dogs on the street can see the problems coming.I think that a lot of clubs in the EL have fooled themselves into thinking that there is a future for full time football here when the reality is that as it stands we are getting further away from it by the week.The facts are that the sponsorship isn't there,the tv revenue isn't there,the prizemoney isn't there & the saddest thing of all is that the crowds aren't there.Most joe soaps on the street have no interest in the EL & they more than likely never will.

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Originally Posted by pineapple stu

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?

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Everything isn't grand, but it isn't too bad either. The 2 sponsors didn't pay up, so a limited run of 500 season tickets are being made available. The Social Club is due to open in the next month, and that should sort out our cash flow problems.

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.

Things are actually looking brighter for Derry with rumours doing the rounds of movement on the stadium, albiet a lesser overhaul than previously planned, and as the previous poster said, the social club will be opening in July.

The competition to get a name on the shirt is actually a novel approach, reflects the circumstances of the main sponser going into administration and the current economic climate. One lucky business could get their name of the shirt for £1000, not a bad prospect.

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Originally Posted by dcfc1928

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.

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This is true, in fairness. But coming on top of the debts built up to the extent that transfer fees were going unpaid, it's having more of an effect than it needs to have had.

Can Derry City fans please get their own financial trouble threat? Stop using our publicity as we work hard for it!

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Originally Posted by dcfc1928

In fairness the problems with Derry's sponsors are outside of Derry's control and do not reflect bad management on behalf of the board.

Things are actually looking brighter for Derry with rumours doing the rounds of movement on the stadium, albiet a lesser overhaul than previously planned, and as the previous poster said, the social club will be opening in July.

The competition to get a name on the shirt is actually a novel approach, reflects the circumstances of the main sponser going into administration and the current economic climate. One lucky business could get their name of the shirt for £1000, not a bad prospect.

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The competitions etc smacks of lack of money and need money quick IMO.

If things where rosy at the Brandywell how come they still haven't given Dungannon the money they owe?

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Originally Posted by dcfc1928

The competition to get a name on the shirt is actually a novel approach

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Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

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Originally Posted by Dodge

Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

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I think Harps used to run that comp regularly ... or at least once anyways :p

They did, yeah. Remember talking about entering in the outside chance that we'd win and get "Sheep shaggers" or something equally hilarious on their jerseys for a year. Did Monaghan do it too?

Harps have been doing it for the past seven or eight years. In the last couple of years, since Donegal Creameries have become Main Sponsors, the draw has been for the back of the jersey.

Harps were looking for compaines to enter the 'draw' at €200 a go and regurarly got around 200 - 250 enteries bringing in between €40,000 - €50,000. In the last two years, where the prize was for the back of the shirt, I think the entry fee was €100.

Waterford done it at least once towards the end of the 90's as well.

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Originally Posted by Mr A

I think the majority of the clubs in the premier are struggling financially to one extent or another.

Bohs- in trouble with 65% rule, ground deal looks to be unravelling, plan to increase revenue lacks credibility
Derry- have lost major sponsors, selling next year's season tickets early
Galway- struggled last year and while spending was cut the crowds have been poor this year.
Cork- well documented issues with revenue etc, etc.
Sligo- things likely to be very tight at best, struggled last year and FAI were very sceptical about their budgeting.
Dundalk- have already talked about needing to increase income.

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with the above in mind anyone else see a huge fudge (even more than usual) in the FAI application of licensing "rules". economic downturn, unprecedended blah blah blah I can almost see the press release now

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Originally Posted by harps1954

Waterford done it at least once towards the end of the 90's as well.

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We did it a few times, and it was always a very good money spinner. This year we had a back-of-the-shirt sponsor's draw too, which obviously wasn't as lucrative, but still raised a handy few quid.

It had f*** all to do with not being able to get a main sponsor Dodge. The amounts generated that harps1954 mentioned are spot on, and one year (the one O'Shea's Hotel won it I think) they made over €70,000 on it. A single main shirt sponsor would not have generated anywhere near that amount for a club like us.

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Originally Posted by pineapple stu

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?

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Be fair. A few Derry posters have been more than willing to accept and indeed point out issues at the club.

We are trying to say competitive with a top two who are basically insolvet, and are heading down that road ourselves at a rate of knots......

Oh ok. A few did (yourself foremost among them). Others said that it was standard practice to delay creditor payments for six months, or that the amount was trivial and not important to clubs like Derry.

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Originally Posted by Steve Bruce

Renewing next seasons season tickets this season

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I thought Bohs had that idea patented? :D

In fairness to Derry, a major sponsor going bang is out of their control, but while not exactly living beyond their means as badly as Bohs, Cork or Drogs have in recent times, they have been stretching themselves probably a bit too far in relying on success on the pitch to be financially viable. With Bohs and Cork both financial basket cases, surely a switch back to part-time or semi part-time football is sensible and even inevitable for Derry?

bhs

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Originally Posted by blackholesun

I thought Bohs had that idea patented? :Dbhs

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Was it not Rovers (and others) that sold season tickets for future seasons ? I know Bohs membership scheme has an option for ten year and life membership but have not heard of future options for season tickets.

Idea not always bad and in Rovers case helped fund them until they got to Tallaght. Problem arises where a club spends future income now with no means of recouping in the future.

By the way Bohs are not in anywhere near the same position as Cork City. Bohs have not gone bust/bankrupt/ etc etc (at least not yet) and no amount of wannabe "experts" on this forum will change that. Yes Bohs need to address the expenditure/Income situation and yes it must be done ASAP but basketcase ? dream on

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Originally Posted by Dodge

Its been done by a few LOI clubs before. All because they couldn't get one main sponsor.

Nothing wrong with clubs doing IMO but don't try and paint it as anything other than a last resort

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We've done that here this season with the winner of the draw getting to be main sponser on the jersey,runners up got logos on sleeves and on shorts plus ads in the programme.It was a pretty good success for us.

It would appear from reading the CCFC forum that they have until tomorrow to stump up the 100k or so to revenue and it hasn't been done yet.

Also, a catering firm (Great Stuff Caterers) are also taking High Court action against them and the sum isn't known but must exceed €38,092.14.

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Originally Posted by Mr A

Also, a catering firm (Great Stuff Caterers) are also taking High Court action against them and the sum isn't known but must exceed €38,092.14.

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From what i gather, its not exactly like that. Their contract hadn't finished and another contract sign with someone else and the fact they both overlap is the issue .... I think .... not 100%

The June 10th deadline passed without Cork lodging anything with the court. They're probably fine as long as the do it in the next few days though.