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Hmm, there are no white knights on the horizon..? No rich old bstrd that would like to see his name in the papers now and then in return for a monthly handout?Quote:
Originally Posted by pineapple stu
These people that owns the clubs in EL..They got any money?
I thought the the Revenue demanded the money up front last time? Do I not remember some quote the first time about Ollie holding the cheque for 300k in his hand and heading up to pay off the debt the next day?
Nope. There's two up at Drogheda, which is why they're doing as well as they are lately. Dublin City went belly up as they had one man bankrolling them. Not even the fans were paying in really. Ollie tried to go after someone, but he turned out to have more criminal convictions than Ollie and had nearly bankrupted previous clubs.Quote:
Originally Posted by Schwalker
Anyway, football isn't about rich people bankrolling clubs.
That's what I thought too. So either (a) the article's incorrect (and the Business Post, as we have seen, is usually good) or (b) Ollie was lying about having paid the stuff off in total. Which, knowing Ollie, isn't impossible...Quote:
Originally Posted by Poor Student
What football do you watch?Quote:
Originally Posted by pineapple stu
Apologies. Football's not supposed to be about rich people bankrolling clubs.
And I watch UCD. ;)
there is a declaration made on license applications stating that the club has no winding up orders or pending judgements that may impact on the licence appplication this must be signed by the chairman and licence officer before the end of this month by each club, will that be a problem for shels
Think you can get out of it by being in negotiations with the relevant body (i.e. Revenue in this case)
In any event, not being awarded a Premier licence only "may" result in a team not being allowed play in the Premier.
Did they not change the rules after the Rovers situation last season i.e. from now on, no licence, no play?
Its probably worse that this is the same debt as last time. I know the Revenue are getting heavy handed with clubs after the Rovers situation but Shels must really be running out of lives now as would be surprised if they accept another repayment plan. We are getting towards the end of the season so if they have trouble paying debts now is only going to be more difficult with little revenue coming in during 3 months of the close season.
I wonder will any Swedes coming to try buy Jason Byrne again? 300k net transfer fee would go a long way now.
That should read "mystery" Swedes...
Ah, that explains your misconception :DQuote:
Originally Posted by pineapple stu
From memory, it's only "may" deny you a place in the Premier per the Licencing document. WHich makes a mockery of it entirely, of course.Quote:
Originally Posted by Dr.Nightdub
Could be right stu but i think the revenue are a tad ****ed of with ollie so dont believe they will negotiate its a case of pay or go to courtQuote:
Originally Posted by pineapple stu
Why is this sitting currently in session even though Accolade stated the bill would be payed before the due date?
Well obviously the Revenue is just jealous of Shelbourne's success and would want to take a long hard look at themselves.Quote:
Originally Posted by Risteard
Can't believe this isn't getting any attention today.
Is this the first time one of these has actually gone to court in the league?
Apparently paid 600K in taxes sop far this year but defaulted on some. Need to pay €102K before some date in October
I heard it was thrown out of court on a technicality, to be heard again on 2nd October. The debt is c E600k, and E102k was defaulted on. It appears the initial bill wasn't paid, as mentioned in the Business Post above, but an agreeement was made with x repayments, the first of which was defaulted.
I'll stand corrected, obviously, if necessary. I wasn't there myself.
I stand corrected so...
From unison.ie (Irish Independent)
Shelbourne football club has been given until the beginning of October to pay outstanding taxes to the Revenue Commissioners
Revenue took action to shut down the club after the company behind it failed to pay what it owed to the taxman.
The club has already paid €600,000 this year, but the High Court heard today €104,000 is still outstanding.
Mr Justice Thomas Smyth adjourned the matter until October 2nd and warned that the money owed should be organised by then or the club would have to face the consequences.
Speaking afterwards, Shelbourne owner Ollie Byrne said the money would be found as soon as further clarification was received from the Revenue about the club's exact liability.
Liability's 704,000 this year, Ollie. You owe a further 104,000. Pay the man.Quote:
Originally Posted by pineapple stu
Hopefully Niall Quinn can bring his winning team back over from Sunderland - afterall Shels are the only team they can beat
Shels' lawyer made 3 basic points.
1. Shels have plenty of assets so the revenue need not worry. The club is currently restructuring and will have the money soon.
2. The other creditors oppose the order.
3. There was a technacality in relation to the winding up order being delivered. He said that an order received when the courts are on holliday can be treated as though it was received on the first day back from hollidays, i.e. in October.
The revenue lawyer was having none of it and strongly opposed these points but the Judge agreed with Shelbourne on the third point and postponed untill 2nd October and said Shels will have to have found the money by then.
Minor correction on the third one. The judge said that the order was treated as being received today.Quote:
Originally Posted by Student Mullet
I'm not sure of this stuff about Ollie having paid off 600k. That means that Ollie paid up 600k, and then defaulted on the first installment of a total of 104k? Still, if the Indo have it like that, I guess they must have checked their facts. Sorry for the confusion here, it was noisy in the courtroom, and everyone was speaking away from us!
That's ridiculous. I'd guess that Oily knew that when he decided not to pay the revenue.Quote:
Originally Posted by Student Mullet
I doubt it. His lawyer was openly admitting that they're seriously stuck for cash - it's just the Tolka lease is a big enough asset to keep their necks dry.Quote:
Originally Posted by DmanDmythDledge
So does that mean if they can't pay their bills they just sell their lease on Tolka?Quote:
Originally Posted by John83
Yes. The alternative is to go out of business!Quote:
Originally Posted by DmanDmythDledge
Quote:
Originally Posted by Jerry The Saint
So no wages for the Shels players this month then
It sounds like a distinct possibility. It also makes a Shels move likely - they may have to move to cash in on the Tolka lease.Quote:
Originally Posted by Rιiteoir
They have effectively sold it already, having sold the charge on it and drawn down a fair chunk of cash already.Quote:
Originally Posted by DmanDmythDledge
Each time they draw down more cash, their departure date from Tolka grows closer.
Kilkenny and the other charge holders have no real interest in seeing Shels go bust, as they would end up joining the list of creditors (preumably next in the queue behind the Revenue), but its not a given that they will keep the cash tap turned on.
If they are happy enough that there are enough assets to pay the Revenue and let them get the land intact, then I could see them letting Shels go to the wall.
It would be in their interest for Shels to move as soon as possible so if Shels need the money for this urgently, it may be at the expense of moving out early.Quote:
Originally Posted by OneRedArmy
Heard Ollie on the radio. Still says he expects major financing to be secured for the club if I heard him right.
I don't quite get the argument. If I had a house worth a lot of money yet never paid my taxes, how long can I go on before I have to actually put my money where my mouth is and use it to pay my outstanding debts?
October 2nd. :pQuote:
Originally Posted by Poor Student
I find it very difficult to believe Shels have paid 600k in tax this year - their gates for the year can't be much more than 300k gross (1,500 X 10 per head - given loads of under 16s in every gate - X 20 - 17/ 18 league plus 1 euro game plus cup) - and 1,500 as an average is generousQuote:
Originally Posted by John83
Who would invest in an EL club other than fans? Particularly one that is so badly run it ends up in Court on a quarterly basis without its Chief Executive (a convicted criminal) being unduly worried.Quote:
Originally Posted by Poor Student
Come in Shelbourne FC your time is up. You have whatever you haven't spent out of your lease charge money left, minus what the Revenue is owed and you'll be out on your ear from Tolka by the end of the season. You'll be playing in front of a couple of hundred in the tumbleweeds of Santry (if you are lucky) and I for one will be happy as a pig in sh it.
What goes around comes around. Ollies dogma has been run over by his karma.
I agree. I thought that what was said was that Shels owed 600k total, and were paying in 104k installments (maybe interest and/or penalties in there, or maybe the 600k is a rough figure), of which they'd defaulted the first. If that's right, they owe 600k, with the first installment (and maybe more) due by October 2nd.Quote:
Originally Posted by sonofstan
However, I didn't hear it clearly. Other people present weren't sure either. The Indo seems to have taken it up as 600k paid just before the first winding up order went to court, 104 to go by October 2nd. If they paid 600k, it was an advance on their lease money or something like that. I really doubt they had that sort of money handy in any other form.
come on lads lets have a whip round and see if we can we find the money needed to save shels so send the money care of bohs and it can rest in their account until hell freezes over or when shels move to dalyer ,which ever comes first
Beautifully put.:D :D His Karma may not have been instant, but it looks like it's gonna get him. I actually don't want to see them go bust. I'd rather see them penniless and struggling to avoid relegation in front of gates of about 300(on a good day) out in Santry.Quote:
Originally Posted by OneRedArmy
Same here. I much prefer the prospect of them dying slowly by the process of a long, lingering, gradual but painful strangulation with a constant miserable feeling of "How low we've fallen to come from that to this", punctuated by the occasional burst of misplaced and ultimately, unfounded hope.
Ollie speaketh.
"There is no need for Shelbourne fans to worry, the situation is under control."
I have a sneeking suspicion that that line may yet grace the front cover of STIG. Possibly in another run of the Comical Ali visits *shakes magic 8 ball* Santry series.