We have to wait and see. Maybe an oil and gas tycoon is about to buy them out :DQuote:
Originally Posted by razor
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We have to wait and see. Maybe an oil and gas tycoon is about to buy them out :DQuote:
Originally Posted by razor
Interestingly there's not mention of Brian Lennox's resignation as a director in the statement.
If I was a Corkie (heaven forbid) that's what I'd be most worried about.
He obviously had something to lose by holding the directorship.
Watch out for Paul Appleby
Arkaga were really pushing the AIL, it was obvious they thought there was profit to be had from having Cork City in it, especially if the club was running up this amount of debt in the LoI. Now that the AIL is shown to pie in the sky talk (Eufa and the IFA would not allow it, the plans looked like they had been dreamed up by a 12 year old) they've realised it's best to get out now, rather than incur more debtQuote:
Originally Posted by OneRedArmy
Still not obvious. I have never ever heard the words profit and football mentioned either in the context of an AIL or the EL or indeed anywhere else in the globe. In my experience clubs, at best, aspire to break even and thus that show a small profit in some years do so by accident rather than design.Quote:
Originally Posted by jebus
Methinks your view is a bit clouded by your anti-AIL obsession.
FAI Statement on Cork City FC
The Football Association of Ireland has been in regular contact with the Arkaga fund and Cork City Investment FC Ltd (the company operating Cork City Football Club) in relation to financial difficulties facing the Cork City Football Club. The FAI has contacted the Arkaga fund with regards to a written undertaking made by one of its companies to guarantee all liabilities arising from Cork City Investment FC Ltd for a twelve month period from 29th January 2008 through to 29th January 2009.
It is the FAI’s view that the club’s sustainability depends on its investors and Directors managing the company’s affairs as a sensible business. We await news of what the Arkaga Fund, as investors in Cork City Investment FC Ltd intend to do. If Cork City Investment FC Ltd is in financial difficulty, then the onus is on the club’s investors and Directors to take all necessary corrective action to ensure its survival. The FAI has been and will continue to provide professional assistance to assist the club in any way possible at this difficult time.
Clubs do, but companies don't. The likes of Real Madrid, Man Utd, etc are companies run for profit. Success on the field is a by-product.Quote:
Originally Posted by OneRedArmy
Not sure if the implication is that AIL clubs would be limited companies or not.
Pardon my ignorance, but Cork out of all the teams in the Lge have made more money on transfers than anyone else(did they get a fee for Meyler btw) how are they in so much debt????
:confused:
Who are the 6 you would drop/ask to merge?Quote:
Originally Posted by jebus
Cork Ramblers is on the horizon:D
There won't be a relegation by the time we get to the end of the season because 3 teams will have dropped out.
Were definetley going to lose one team before the end of the season anyway. Leaving 2 relegation spots and Ramblers will still get fookin releagted.:(:D
First, almost every club is a company, but thats irrelevant.Quote:
Originally Posted by brendy_éire
Second, I thought Real Madrid were owned by the members, like Barca?
Football clubs, like airlines, are very, very rarely profitable in anything other than the short-term, based on historical performance.
At the rate we're going, the six clubs will pick themselves...Quote:
Originally Posted by WoodquayBoy
Presumably this is how Cork got around Licencing and the wage cap? With Arkaga guaranteeing all expenses over the season, they could spend what they liked? I'd imagine something similar is in force at Drogheda and Pat's too, if so.Quote:
The FAI has contacted the Arkaga fund with regards to a written undertaking made by one of its companies to guarantee all liabilities arising from Cork City Investment FC Ltd for a twelve month period from 29th January 2008 through to 29th January 2009.
Read the AIL proposal in full, they mention profit quite a few times, in fact they give it as their sole reason for entering the league. Might want to do a bit of reading before commenting in future eh?Quote:
Originally Posted by OneRedArmy
Personally I don't think there's much room for Galway :) Joke before anyone jumps on my back. I honestly don't know, it would be a hard decision either way and a lot of clubs and fans would be left upset. I'd look to drop Monaghan, Kildare, Cobh, ask Sporting Fingal to merge into Shelbourne and after that I don't know. People will say UCD, but given how well they are run, and the carrot of offering scholarships to part time players, I would look to keep them. I really don't know though, you could nearly make a case for dropping 75% of the teams in this league, Limerick included, so it would have to be up the FAI to make the hard decisionQuote:
Originally Posted by WoodquayBoy
We are in the positionw e are in because of mismanagement, pure and simple. Clowns claiming to be professionals screwing us over.
having the highest attendances is irrelevant in this situation. It doesnt mean the league is screwed or that other teams have to go the same way. it means teams need to take a look and make sure it cant happen to them.
Run yourselves properly like Rovers or UCD
Is it possible for you ever to keep your opinions to yourself?, Or do you honestly believe that anyone is even remotely interested in listening to your self opinionated rubbish?Quote:
Originally Posted by jebus
Attack the post, not the poster.
Think his comment was fair enough - don't know what his history is but I'd be of the same opinion.Quote:
Originally Posted by rebs23
Feel sorry for the genuine humble Cork fans but not for the sneering, jumped up majority.
You're obviously interested in my take on the situation, why else would you quote me? Plus I thought forums were the place to air opinions?Quote:
Originally Posted by rebs23
The word profit is mentioned once in 62 pages in draft v13. And its mentioned specifically in the context of why Platinum One themselves have gotten involved, it doesn't refer anywhere to the clubs themselves.Quote:
Originally Posted by jebus
Oh Lord God you're one of them aren't you? How are Platinum One going to make profits from a league if their clubs are going into recievership?Quote:
Originally Posted by OneRedArmy
Someone who works in finance and understands the difference between a cashflow statements and a P&L and balance sheet? Why yes, yes I am!Quote:
Originally Posted by jebus
See above. Not making a profit does not equal receivership/examinership. Look at the cashflow statement, its a much better measure.Quote:
Originally Posted by jebus
Clubs are and will always been run to breakeven and any surplus is inadvertent and is reinvested. Thats the nature of the beast and competition dictates that.
Quote:
Originally Posted by OneRedArmy
Why would a group like Arkaga, or Jack McCarthy at Limerick, or the Glazers at United ever get involved in a club if their sole motivation was to break even so?
Quite a fall from the moral high ground from some of them - first Europe, now financial problems.Quote:
Originally Posted by charliesboots
I would be very careful with the words you choose, it could come back to bite you, anyway couldnt happen to a nicer set of supporters :DQuote:
Originally Posted by harry crumb
I have to admit i do pity the few city supporters that are genuine ( but they are rare ):p
OOOhhhhh touchy touchy today arent we for some reason :D , is the end nigh for rebel army dildo(sic) and his pubescent friends?Quote:
Originally Posted by rebs23
Not a good day for the league at all, another reason for the barstoolers to jeer at !!!!
That is quite simply one of the most ridiculous statements I have ever read on a forum anywhere.Quote:
Originally Posted by jebus
Why should any 2 clubs merge just to pack in 16 teams into a single league (an idea I will admit has some merits)?
I honestly don't think 2 leagues with 22 teams can be sustained in this country as, while there are a lot of dedicated LOI fans around, there is quite simply not enough people willing to go and watch live football not while they can sit on their barstools/armchairs and watch the English/Scottish/European leagues.
I believe a radical overhaul of the LOI is needed, but I dont think the FAI are the people to do it.
I think we should get Maxi to sort it out.........
Just think.................Limerick could be the only team in Munster next year!:D:(
ya lets get all the clubs who continously get into finanacial difficulty and are run by incompetants thats a great basis for selection and all those who are better run than limerick past and present have better facuilities that jackman park (thats not hard) and who by the way are above you in the table and exclude themQuote:
Originally Posted by jebus
Are clubs in this league run by complete fukin morons, what do these people think when they do out their budget for the season? Do they think that if they throw money at the top players in the league that fans will suddenly flood through the gates. I hope that Cork get hammered for this because it's beyond a joke now, Cork should be taught a lesson and the lesson should be so severe that no club will want to follow in their footsteps, and waste money like they have been. Clubs like Cork, Bohs and all other clubs who are wasting money on ****e would be no big loss to this league. These clubs are not only making it difficult for themselves but they are making it difficult for everyone else in the league. I think that these clubs should live within there means or simply fck off out of existance.
Fine, get rid of Fingal so, there's no need for two clubs in that area, especially as neither of you are exactly packing the punters in. Their ground is better than yours though so I'd think about the merger if I were ShelsQuote:
Originally Posted by McShels
Monaghan aren't above us in the league, and they get the same attendence as Kilkenny used to (maybe 20 people more), Limerick supporters outnumbered Monaghan supporters on one of our trips there this season, and Monaghan isn't a city. Hence Limerick in the long run > Monaghan in the long runQuote:
Originally Posted by passerrby
LOL. Morton better than Tolka??Quote:
Originally Posted by jebus
Yep, Tolka's good as well, but Morton Stadium looks like a proper stadiumQuote:
Originally Posted by Schumi
The table is lying, is it? :eek:Quote:
Originally Posted by jebus
Catch a grip.Quote:
Originally Posted by jebus
[QUOTE=jebus;1000003] I'd look to drop Monaghan, Kildare, Cobh, ask Sporting Fingal to merge into Shelbourne and after that I don't know. /QUOTE]
Cop yourself on would ya. It seems the only clubs without any problems are us, Dundalk and UCD so pull your horns in boy. Its getting sad the way some Limerick fans act like hard men and will go to any lenghts to have a go at Mons.
It's about time we got an asterisk back in the league table! *
* May or may not happen this season.
There's no point looking at the league table, sure it changes every week. :DQuote:
Originally Posted by The Lilywhites
[QUOTE=Magicme;1000078]Pointing out your poor attendence is acting a hard man these days? Monaghan is a smaller club than Limerick, Monaghan is a smaller club than Limerick in potential, which of these statements isn't true?Quote:
Originally Posted by jebus
Sorry, hadn't realised they'd gone a whole point ahead of us, why that proves their value to the league :rolleyes:Quote:
Originally Posted by The Lilywhites
:eek:Quote:
Originally Posted by jebus
Ego-feeding, power, visibility and adulation from fans. Everybody likes to be liked after all.Quote:
Originally Posted by jebus
Glazer didn't get rich through sport, he made his wealth in real business before he bought Tampa Bay and United. Ditto Abramovich, the two fellas at Liverpool and almost every other example I can think of.
The only people who get rich in football are the players and agents (and the odd person who puts their hand in the till). The EL is no different really, except with smaller numbers.