With Drogheda in there next year as well, the First Division can rebrand as the Champions' League.
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With Drogheda in there next year as well, the First Division can rebrand as the Champions' League.
where not there yet smart guy .And bohs going boom might help us make a playoff . You enjoying our demise then ?
Well I know which club I'd rather support.Quote:
Originally Posted by pineapple stu
Your local club?Quote:
Originally Posted by CMcC
Glad to see your giving up so easily there BonnieShels in the First Division promotion race :)Quote:
Originally Posted by BonnieShels
whereas if bohs are in the first div could it be rebranded as the chumpions leagueQuote:
Originally Posted by pineapple stu
Oh no not at all. Sure aren't Pat's, UCD, The Fungus and Shams in Dublin?Quote:
Originally Posted by pateen
Roll on tomorrow night! Nyiaow!
It's sad to see any club in trouble and there's no glorying in anyone's demise. I know we can all slam them for overspending, overreaching etc, though we've all had our clubs in such a position at some point or another.
I don't think any club has ever been in this bad a position in this country.
Depends how you define "this bad". In terms of overall debt, probably not. But Bohs do have dalymount as a far greater asset than previous cases.Quote:
Originally Posted by pineapple stu
If Bohs survive (and I hope and think they will), then they're obviously not in as bad a position as all the clubs who have folded. Remember tha before licensing loads of clubs simply folded and re-started.
I suppose I should have qualified that by saying "any current club". Which takes out a lot of worse clubs kind of by definition.
Obviously, I hope Bohs survive. But lack of cash kills businesses, not lack of assets. I can see them folding sometime next year because they don't have the cash to repay Zurich - that's why I think the statement that they don't expect to sell the ground for seven years is so concerning, and that's why I reckon they're in a worse state than any LoI club previously.
They can't go into examinership and wipe their debts. They can't have a massive Drogheda-like fundraiser to clear debts (cos they're too big). Even Shels had actually sold their ground and, it seems, didn't have interest payments or repayments to worry about.
And obviously, if they folded, I'm sure they'd reform and maybe even play out of Dalyer while its future got sorted out. But I can genuinely see them going under.
I dont think that is obvious at all.Quote:
Originally Posted by pineapple stu
In a buoyant property market, Bohs would not be in trouble.
In the current market, their main asset cannot yield them cash to fund their debts.
Their difficulties are quite different to other clubs who have experienced trouble in the last couple of years. However, when one looks at the business environment today, companies are going to the wall with the same type of liquidity problems as Bohs.
How does this €1,000 loan work?
The club member goes in to the bank, signs a paper and €1000 is transferred to Bohs' account. Bohs take care of the loan - offpayments/interest. If Bohs collapse, the lender can go back (with full legal right) to the club member to recover any difference?
Why do you think there a bank involved? Bohs don't care how their lenders get the money
They hope some one with money to spare, gives it to them. IN return they'll pay that person 5% per annum (inflation adjustable) and repay the capital sum when bohs sell dalymount
When rovers asked for its members to pay its membership fees for 5 and 10 years in advance, at least they had already arranged finance with a bank (and of course, those who paid in advance were likely to pay anyway)
I got the idea from the Indo article but I was very open to being mistaken:)
From the Indo,
"the club has a major asset in Dalymount Park and loans to Bohemian FC will be secured by charge on that property under a trust deed."
I see now that Bohs don't care where the club member gets the money from. And that "loans to Bohs" is not referring to a members' bank loan, but referring only to the loan from the member to the club and being "secured" by the club's asset.
Depending on paperwork and formality, this -
- should still be correct though. If Bohs collapse, and when Dalymount sells, the lender would be entitled to be repaid from the proceeds.Quote:
Originally Posted by geysir
I think Dodge may have misinterpreted where you see the bank fitting into things. There's no bank on Bohs' side arranging the deal, but yeah, the person giving the loan may be taking a loan out to cover it. Similar to what Drogheda did last year.
I read the Indo article again and checked the Bohs forum, this is alot more disconcerting than I thought. I understand all the terms being uttered and how it all works, though what is worrying is that they have arrived here to soon. I would have thought, with a little foresight and planning, that a proper investment fund could be set up to keep things going. I know it would be set against future income, though it does raise the question - will they have enough to last through the off season if they don't win the league? And will they be able to offload players for next season?
But its not mandatory. Thats the point I was making.
(And I had it confirmed frm a Bohs mate after asking earlier in the thread, Bohs did actually ask members to get loans (from banks) on their behalf before)