Recklessly run clubs

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03/05/2007, 1:30 PM
ciaraa

Quote:

Originally Posted by SeanDrog

I won't disagree on bit that the directors control our destiny and also if the stadium does not come through then we are finished - I am certain of that. The way the stadium seems to be going who knows, we could be gone next season. But if we go under where will the 1 million or so owed to the directors go - who would pay it? remember we have no assetts - so it is fully in their interests to get this stadium built asap to try and recoup that money.

We nearly went under due to 100k in debt a few years back - it wasn't millions - and thats my point - others have debt which might as well be millions to them, as tey wouldn't be able to pay them off and others are not running their clubs with due diligence (Drogs IMO included) but the tone of recent posts wuld imply that other clubs are saints.

Drogheda United will never be "finished".
03/05/2007, 1:35 PM
SeanDrog

if the stadium falls through and the directors pull out, who on earth would take it on and cover over 1m debt that someone else built up. No one. Need to be honest with ourselves.

Now maybe not finsihed literally as maybe a non leagueclub woud form under the banner DUFC but that would be it.

Besides we are only halfway through the gamble and with the help of God we will get the stadium that we so desparately need.
03/05/2007, 1:36 PM
Dodge

Quote:

But if we go under where will the 1 million or so owed to the directors go - who would pay it?

Why would you as a football fan care? Would you not be more worried that Drogheda United would cease to exist. The new FAI rules (including lcensing) mean a club can't just fold the holding company behind it and start again (as loads of clubs have in the past (Drogheda being one of the latest). Let the property millionaires worry about getting their money back themselves. They wanr to build a village with 5,000 homes. A couple of million is nothing compared to thata

As for Pats, not one of our fans thought the debt was manageable some months ago and any visitors to our MB will find 100s of threads asking the type of questions stu is asking of Drogheda. Even with Kelleher on board we won't have a bottomless pit of money (he has two of these BTW), his plans for the club are to become self sufficient withina number of years (He's outtng up the money for the capital expenditure at the start of his era)

Its the head in the sand attitude from some fans that buugs the hell out of me. How ****ing dare anybody question any fan on this forum or any other when all they point out are cold hard facts?!
03/05/2007, 1:40 PM
SeanDrog

who has a head in the sand?
03/05/2007, 1:45 PM
Pauro 76

Wreaklessly run clubs?

'Recklessly' run spelling classes you must have attended so. ;)
03/05/2007, 1:48 PM
Dodge

Quote:

Originally Posted by SeanDrog

who has a head in the sand?

Most of your support. I read your MB
03/05/2007, 1:48 PM
John83

Quote:

Originally Posted by SeanDrog

lots of anti drog posters (the ex anti shels posters no less) talking about how much our budget is etc and how wreakless we are etc.

I have a question looking at it from the other side - how many clubs will have a profit at the end of the seaosn and how many had a profit at the end of last season, as if there was no break even at least - then they where and are also operating wreaklessly

So come on who are they

Harps, UCD, anyone else finish with a profit?

Quote:

Originally Posted by OneRedArmy

Historically, even the best of the EL clubs are effectively well run charities. Very few carry any kind of working capital or any buffer to protect themselves from an adverse shock.

The rest are just run plain wrecklessly.

Drogs have effectively been gambling that their housebuilding plan comes to fruition. Otherwise they are in serious trouble as their Chairman is on record saying that the current losses are unsustainable.

Before anyone accuses Derry City fans of polishing their halo, the last set of our accounts I saw didn't look particular clever (I had more cash in the bank than the club). Things may have changed since then but I've no reason to doubt that Derry, like most clubs, live a hand to mouth existence.

Quote:

Originally Posted by SeanDrog

does not matter, excuses excuses, you made a loss - forget about others and look at your own club - let he who is without sin (probably harps & galway :D and maybe Derry) cast the first stone. Your directors ran a club that made a loss. Were there cut backs in the off season, players let go? What action was taken to prevent another loss this year - if there is another loss will heads roll?

PS thanks for your honest answer in stating that you made a loss.

What about Cork - their posters are very interested in our budget, how did their books do last year was a loss made? if so how on earth were farrelly and Healy signed? Is this not wreakless?

Quote:

Originally Posted by SeanDrog

not wumming at all.the point is that people are trying to villianise Drogheda and now Pats due to their budgets and that losses are made. I fail to see the difference if clubs like UCD are also making losses. You saw our books, were our losses put onto the club as debt? no? so how are we going to fold due to our budget?

UCd might have reserves - we have reserves in our directors pockets - again my point on our books - is our spending resulting in debt to the club in the region of these so called millions?

The budget argeuemnts to me are turning into some form of excuse to continually have a pop at the clubs who spend more. For me clubs who made a loss but still signed players acted according to the morals being aired on this forum as being wreakless.

My question to the other clubs remains open - who else made a profit last season?

Quote:

Originally Posted by SeanDrog

again i was posting at the same time as you. So the money is a debt to the directors - unless they write it off (which I doubt), and our destiny is in their hands (nothing new there tbh).

But being neutral Stu - do you not agree that it is not right on the one hand to be slapping Drogs and Pats due to budgets - which may be large etc while other clubs are themselves making a loss. They are behaving wreaklessly are they not? - at elast if they do it two years running without having made any attempts after the first year to amend the situ?

Could I just say this: THERE'S NO 'W' IN RECKLESS.

Also, wreakless is a very old word meaning unrevengeful or weak.

Thank you.
03/05/2007, 1:50 PM
SeanDrog

Quote:

Originally Posted by PAURO 7

Wreaklessly run clubs?

'Recklessly' run spelling classes you must have attended so. ;)

always was brutal at spelling in school - thanks for the heads up :D
03/05/2007, 1:51 PM
SeanDrog

Quote:

Originally Posted by Dodge

Most of your support. I read your MB

Well from my previous posts I think you will agree that I have tried to give an honest account of the situation.
03/05/2007, 1:55 PM
Jerry The Saint

Quote:

Originally Posted by PAURO 7

Wreaklessly run clubs?

'Recklessly' run spelling classes you must have attended so. ;)

Thanks for setting that straight, it was wreaking my head.
03/05/2007, 2:00 PM
Dodge

Quote:

Originally Posted by SeanDrog

Well from my previous posts I think you will agree that I have tried to give an honest account of the situation.

Than why have a go at stu for giving you the figures you didn't eeven know about? (the �1mill loss)
03/05/2007, 2:25 PM
SeanDrog

Dodge am wondering if you now trying to wind me up - where did I have a go at him. I asked him to provide the figure as I know he has some background (from previous posts) in the finanical area and he would be able to provide figures which I know due to his honesty would be factual rather than someone trying to present bulls***te figures just to suit their arguement.

Have a go at Ste - are you for real?
03/05/2007, 2:29 PM
Ronnie

I've argued this point before on other threads, the problem really centres on players contracts, the risk to Drogs is directors willing to invest now, but not undertaking to continue to see out the remainder of players contract after they step down, thats what causes chaos. As they know the situation in the club looking for their money back is not likely to arise as the only option would be to sell the asset, and I don't believe that were going to have a Milltown mark 2 scenario 20 years on.
03/05/2007, 2:34 PM
SeanDrog

thanks Ronnie, well put.

But they don't even have the asset yet as the buy back clause for Utd Park is that the sale must go towards a new ground so there is no chance of the getting the hands on Utd Park to pay back the loans - so in essence they are tied into the long term futue of DU or else write off their loans as a bad debt.
You point on contracts is very valid and as I have stated before it would probably destroy us if they did decide to cut their losses and deem the new ground a lost cause etc.
03/05/2007, 2:47 PM
BohsPartisan

Yes but if DU goes out of business because of losing its licence then the land is all theirs no?
03/05/2007, 2:48 PM
SeanDrog

no the fai own the ground not dufc. its only handed over if the club prove it has another ground and the money from the sale of utd park goes towards it.
03/05/2007, 2:53 PM
passerrby

what is the up to date info on the stadium and housing plan, as these seems central to drogs future
03/05/2007, 2:55 PM
BohsPartisan

Quote:

Originally Posted by SeanDrog

no the fai own the ground not dufc. its only handed over if the club prove it has another ground and the money from the sale of utd park goes towards it.

But what would the FAI do with it if there was no club In Drogheda?
03/05/2007, 2:57 PM
SeanDrog

last I heard (could be wrong though) some vote in the council (or review) will be made around august. Heard so many things about the stadium at this sage I tend to ignore most of it, I am at the point that I won't beleive it until I see the first blocks laid.
03/05/2007, 2:58 PM
SeanDrog

Quote:

Originally Posted by BohsPartisan

But what would the FAI do with it if there was no club In Drogheda?

who knows, sell it , give it to another local club , drogheda town maybe? who knows - build a summer house for Delaney ?

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