Drogs seek examinership

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14/10/2008, 11:14 AM
Louth4sam

Quote:

Originally Posted by jebus

I think I'd even get a kick out of Dundalk bottling promotion and Galway being promoted/not relegated over them in place of Drogheda :D

If that situation did occur and I really think it could, I don't think there could be too many complaints from anyone. The only thing that would take the sting out of us not going up would be Drogs coming down.

Could be a very interesting close season.
14/10/2008, 11:16 AM
pete

Quote:

Originally Posted by Macy

I'd say some of the clubs didn't bother applying for a Premier Licence for this season. I'd say we would if the chance of promotion was there. Better to struggle, but with greater exposure and better opposition/ bigger travelling supports than stay in the wasteland division.

Just as long as they don't use the Cobh model of paying the same players more money just because in a different division.

Does any one know what kind of debts Drogs have & who they owe the money to? In our situation we had faceless owners who reneged on their responsibilities but Drogs have local owners who creditors would not be happy with at all.
14/10/2008, 11:18 AM
Dodge

I think most of Drogheda's sebts are director loans. not 100% on this
14/10/2008, 11:33 AM
pineapple stu

Their last accounts (Nov 07) showed them owing E110k to Revenue, E110k to other creditors and E170k in accruals. That's in in terms of debt for Hinge Trading Limited; there may be more in Drogheda United (O2) Limited, which was loaning Hings the money. But it's anyone's guess how much that's grown since, particularly if the two boys have turned off the tap.
14/10/2008, 11:34 AM
pete

Quote:

Originally Posted by Dodge

I think most of Drogheda's sebts are director loans. not 100% on this

Would have suspected as much myself. Does not explain why they seeking Examinership as I believe that is used to give breathing room from creditors looking for their money.
14/10/2008, 11:39 AM
Longfordian

Quote:

Originally Posted by Macy

I'd say some of the clubs didn't bother applying for a Premier Licence for this season. I'd say we would if the chance of promotion was there. Better to struggle, but with greater exposure and better opposition/ bigger travelling supports than stay in the wasteland division.

We got a Premier Licence for this season so I'd assume we'd be applying for one again for next season. As you say better to struggle in the Premier than the First, assuming we didn't indulge in fantasy budgeting like we have done before. I'd hope the lessons have been learned at this stage.
14/10/2008, 11:41 AM
Macy

Quote:

Originally Posted by pete

Just as long as they don't use the Cobh model of paying the same players more money just because in a different division.

That's the league's model. Not to much change in personnel to account for the wage inflation outlined in the fans forum thread.
14/10/2008, 2:41 PM
Horus

Quote:

Originally Posted by Celdrog

Ciaraa - who do you really support or are you a Drog on drugs?
You are very much alone in your thoughts. Please name and shame those wh o were in it for the money

Second that Celdrog. Ciaraa - another hanger-on who Drogs could do without at this time. Laws of libel apply very much to web forums as much as they do to newspapers. Be careful when talking about a subject that you clearly know nothing about except from listening to the usual begrudgers.
14/10/2008, 4:02 PM
pineapple stu

So what happened today?
14/10/2008, 6:02 PM
SMorgan

Nothing. 11.00 am tomorrow morning due the Court's heavy workload.

Any chance of heading over and taking a few notes?
14/10/2008, 10:17 PM
higgins

Quote:

Originally Posted by pete

In our situation we had faceless owners who reneged on their responsibilities but Drogs have local owners who creditors would not be happy with at all.

You knew exactly who was running your club, same way Drogheda did.

Getting a bit tired now hearing this Arkaga done it and we're not to blame nonsense.

Cork City FC messed up,,, nobody else.
15/10/2008, 7:25 AM
Dodge

Quote:

Originally Posted by higgins

You knew exactly who was running your club, same way Drogheda did.

Getting a bit tired now hearing this Arkaga done it and we're not to blame nonsense.

Cork City FC messed up,,, nobody else.

First time I've agreed with you on this subject
15/10/2008, 3:25 PM
holidaysong

Now that an examiner has been appointed, what next for the club?
15/10/2008, 3:32 PM
Dodge

A 10 point deduction for the team

Interesting to see if the club's true debt comes out
15/10/2008, 3:44 PM
holidaysong

Quote:

Originally Posted by RT�

Examiner appointed to Drogheda United

Wednesday, 15 October 2008 16:09

The High Court has appointed an interim examiner to Drogheda United Football Club.

...

It is understood the club has debts of over �700,000.

The club has been approached by several potential investors and is due to meet interested parties from the UK tomorrow.

The directors say that even if a stadium is not built they are confident the club and company can survive but would have to be a 'less ambitious enterprise going forward.'

http://www.rte.ie/business/2008/1015/drogheda.html
15/10/2008, 5:43 PM
higgins

Surely the curent owners/directors have to walk away.
What will happen now to the current owners of Drogheda do people know ?
15/10/2008, 6:32 PM
Horus

You really think that the current owners are going to just walk away from the club. Don't be that naive. People like Vincent Hoey don't just give nearly 50 years to a club and then hang up their boots. If you'd seen him standing looking out at the pitch at the end of the Glentoran match on Monday, you'd know that this is one man who lives for Drogheda United and the town.
15/10/2008, 9:56 PM
SMorgan

Well will that pay the bills? The fact is that DUFC owe 732,000, with all but 200,000 owed to the Revenue. Now, drop this smoke screen about a new stadium or how badly done over you've been by meath cc, the nra, doyle, louth cc. The simple fact is that there is no excuse for not paying your taxes and meath cc or the nra is not at fault for that.
15/10/2008, 10:26 PM
ciaraa

Quote:

Originally Posted by Horus

Second that Celdrog. Ciaraa - another hanger-on who Drogs could do without at this time. Laws of libel apply very much to web forums as much as they do to newspapers. Be careful when talking about a subject that you clearly know nothing about except from listening to the usual begrudgers.

he he - yes horus you have me. just a hanger on who drogs could do without. I'll just keep telling myself that everyone involved in the club is 100% drogs fans all their lives (like you no doubt) and they really would never have anything but drogheda uniteds interest at heart and its really down to those nasty meath co co and nra crowd who begrudge us the stadium but if it were the gaa they would bend over backwards etc. etc.
you might be better off on the drogs forum - think you'll find more agreement over there with your views.
also thank you for the kind advice about libel laws. luckily however i know a man that works on fair street I can ask these questions to! ;)
15/10/2008, 10:32 PM
corkboy360

aww poor ollie cahill :D (hate to see drogs go bust though all the same)

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