Bohs in financial trouble - FAI Licencing called into question again?

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14/01/2011, 6:21 PM
sundance kid

Serious question for Bohs fans,
If all of this carry on that has occured recently (and try to put aside who's right, wrong etc)was able to happen because of a few weeks wages and a couple of disgruntled employees, how confident can you possibly be that the people running bohs will be able to handle things, when the really big boys come looking for their money? Looking from the outside, and obviously i have no access to the full picture, i'd really fear for your future. There's only so many times roddy can sell his medal, and kevin hunt can donate a jersey etc, and as we all know this country is on its knees financially.
14/01/2011, 6:32 PM
SkStu

no one is under any illusions SK. All Bohs fans are very fearful for our future but we've made our bed and now have just got to get on with getting on as best as we can. We cant just be doom and gloom and give up. Nor should the Board stop fighting for the best outcomes it can get from each challenge. The Board presented a staged strategy to the members to get out of this and put ourselves on solid ground and then build again. I hope it works. Thats all i can say about the matter. Even if it does work, its going to be YEARS before we are a force again but as long as we survive ill be happy.

Regarding the latest matter, the press release explains why the players cannot and have not yet received the money they are owed.
14/01/2011, 7:32 PM
osarusan

Quote:

Originally Posted by SkStu

Regarding the latest matter, the press release explains why the players cannot and have not yet received the money they are owed.

For convenience, the latest press release says this:

Quote:

The recently marketed loan scheme was formed to assist the club and we are very optimistic that your continued support will address those difficulties and help us to build a solid foundation for the future of the club.

As you may be aware, in the interests of both the lenders and the club, loans given by members and supporters are being paid directly into a solicitor's client account. These funds will become available to the club if and when the preconditions, as set out in the terms and conditions of the loan scheme agreement, are met.

Please note that funds will not be made available to the club until these conditions are met. If the requisites are not met, the funds will be returned to the lenders under the terms of the loan agreement.

And the terms that need to be met are these:

Quote:

Funds received will only be released to Bohemian FC if:

1. We have accumulated sufficient funds to meet the requirements to fund the buy-out of player contracts and pre-fund the contracts of remaining players under contract (currently estimated at approx. �300,000).
2. Agreed deal with players secures the club a licence to play in the Airtricity Premier Division in 2011.

In the event that both 1. and 2. above are not achieved, all funds will be returned to lenders.
14/01/2011, 9:21 PM
Enruoblehs

Am I correct in reading this as a warning to the League that, unless Bohs get a Premier Division licence, that the players will not get paid?

.
14/01/2011, 9:51 PM
pineapple stu

That raises a load of questions.

Who imposed those conditions?
Is the 300k Bohs' estimate of the severance or the players'? The players want twice what the club want to give (26 wks v 13 wks)
Does the condition apply only to the loan offer secured against the ground? If so, is all the fundraising money and alleged FAI money gone? (McGuinness seems to imply Bohs got money from elsewhere - wouldn't deny it was the FAI - which he wants his members paid from.
If Bohs are running on empty, and the 300k is to clear the players, how do they plan on their proposed budget of E1.2m next season?
What happens if the 300k target isn't met?
15/01/2011, 12:00 AM
SkStu

off the top of my head. Not to be taken as gospel obviously.

Who imposed those conditions? Not sure. The club/members i presume. Dont see how they are controversial.

Is the 300k Bohs' estimate of the severance or the players'? Ours. Dont know why it would be otherwise.

Does the condition apply only to the loan offer secured against the ground? Yes
If so, is all the fundraising money and alleged FAI money gone? No.

If Bohs are running on empty, and the 300k is to clear the players, how do they plan on their proposed budget of E1.2m next season? Point me to our proposed budget of e1.2m for next season please. A leap in logic will not suffice, link please.
What happens if the 300k target isn't met? Then we cant settle with the players, as per the statement, the funds are returned to the contributors, we could then make all players redundant for next to nothing, go amateur and drop a few divisions and so be it.
15/01/2011, 1:07 AM
SwanVsDalton

Quote:

Originally Posted by SkStu

Given the groundswell against me should clarify that i do think Shelley and Grey are entitled to choose this route (i never said otherwise), they may be right from their own perspective about what they have done but, as a Bohs fan, i am disappointed in Shelley to do this. I am disgusted with Grey. Despite the rights or wrongs of the issue, i dont have to like it.

Just out of curiousity - why more disgust with one player than another?
15/01/2011, 1:21 AM
Longfordian

I suppose it's a natural enough supporter reaction, you're thinking that the club has only got 4 games out of him or whatever it is and he's been paid every week, until recently yet he's one of the first to go to the High Court. It's not logical as he, presumably, has been genuinely injured but when your club is being threatened the blinkers come on.
15/01/2011, 1:31 AM
SkStu

Quote:

Originally Posted by Longfordian

I suppose it's a natural enough supporter reaction, you're thinking that the club has only got 4 games out of him or whatever it is and he's been paid every week, until recently yet he's one of the first to go to the High Court. It's not logical as he, presumably, has been genuinely injured but when your club is being threatened the blinkers come on.

add to that the fact that he was absolute gash when he played and thats pretty much why. Its just despicable - in my opinion... i challenge any fan to put themselves in a similar position, as a fan, and not feel the same way.
15/01/2011, 1:32 AM
Ezeikial

Quote:

Funds received will only be released to Bohemian FC if:

1. We have accumulated sufficient funds to meet the requirements to fund the buy-out of player contracts and pre-fund the contracts of remaining players under contract (currently estimated at approx. �300,000).
2. Agreed deal with players secures the club a licence to play in the Airtricity Premier Division in 2011.

If these two conditions must both be met for these funds to be used, then it appears that the granting of the PD licence must be assured or granted concurrent with players being paid off.

If Bohs are actually taking that line with the FAI / ILC and are making PD licence a requirement for honouring/settling contracts, then the licence application should be rejected out of hand
15/01/2011, 1:42 AM
Longfordian

Quote:

Originally Posted by SkStu

add to that the fact that he was absolute gash when he played and thats pretty much why. Its just despicable - in my opinion... i challenge any fan to put themselves in a similar position, as a fan, and not feel the same way.

I've not been an expert on the Premier Division for oh three years or so but wasn't he pretty gash and/or injury prone for Derry? On your other point I've felt the same myself despite best efforts to look at it from a logical POV, passion > logic it's one of the side effects of caring about a club.
15/01/2011, 1:49 AM
Charlie Darwin

Quote:

Originally Posted by SkStu

add to that the fact that he was absolute gash when he played and thats pretty much why. Its just despicable - in my opinion... i challenge any fan to put themselves in a similar position, as a fan, and not feel the same way.

Surely he's worked as hard or harder than any other player at the club, considering he's been trying to recover from injury?
15/01/2011, 1:59 AM
SkStu

Quote:

Originally Posted by Longfordian

I've not been an expert on the Premier Division for oh three years or so but wasn't he pretty gash and/or injury prone for Derry? On your other point I've felt the same myself despite best efforts to look at it from a logical POV, passion > logic it's one of the side effects of caring about a club.

i only ever saw him play for Drogheda and he was good.

Quote:

Originally Posted by Charlie Darwin

Surely he's worked as hard or harder than any other player at the club, considering he's been trying to recover from injury?

possibly, possibly not. From what i have been told he didnt bust his balls and his attitude at the club was bad from the start but, hey, youre allowed to speculate.
15/01/2011, 2:16 AM
The Lep

Quote:

Originally Posted by SkStu

add to that the fact that he was absolute gash when he played and thats pretty much why. Its just despicable - in my opinion... i challenge any fan to put themselves in a similar position, as a fan, and not feel the same way.

Regardless of how good he was, he is still entitled to be paid .
15/01/2011, 2:19 AM
SkStu

Quote:

Originally Posted by Ezeikial

If these two conditions must both be met for these funds to be used, then it appears that the granting of the PD licence must be assured or granted concurrent with players being paid off.

If Bohs are actually taking that line with the FAI / ILC and are making PD licence a requirement for honouring/settling contracts, then the licence application should be rejected out of hand

I dont think its the gun to the head that youre describing, Ezekial. I see it as practical. Why release funds to pay for services that you dont and wont require if you dont get a PD license? If we dont get a license, only any arrears are paid, none of the pre-funded players are re-signed, we go amateur and play Cobh for a few years. Also, reaching a settlement isnt dependent on the license. Payment might be. In fact, a license is dependent on, amongst other things, a settlement (in our case). Again, im speculating. Im not a member.

If it is the way you are describing then i also have no problem with Bohs taking that approach if it is within the rules. If that is the strategy and it backfires and they reject our application out of hand then we go amateur.
15/01/2011, 2:19 AM
SkStu

Quote:

Originally Posted by The Lep

Regardless of how good he was, he is still entitled to be paid .

i never said he wasnt. Ever.
15/01/2011, 7:47 AM
osarusan

Quote:

Originally Posted by SkStu

If we dont get a license, only any arrears are paid, none of the pre-funded players are re-signed, we go amateur and play Cobh for a few years.

From that statement, it seems that if you don't get the PD licence, all the money raised will be returned to the people who were interested in loaning it to Bohs.
Do you still have the cash to pay the arrears of the other players?
15/01/2011, 8:12 AM
horton

No offence to SkStu but I'm guessing he doesn't have access to Bohs account info therefore how would he know what cash is available? If the club had the funds to pay off, they wouldn't be facing the high court would they?

-Edit- Just realised osarusan is banned. Pointless in me replying then.
15/01/2011, 8:22 AM
Spudulika

http://www.independent.ie/sport/socc...p-2497192.html

24 days, should be okay.
15/01/2011, 10:51 AM
Dodge

Quote:

Originally Posted by horton

-Edit- Just realised osarusan is banned. Pointless in me replying then.

He's not banned, he jsut has that title next to his name

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