Petition to wind up: Cork City Investment FC Ltd

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26/05/2009, 10:23 AM
Mr A

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sp...nch.5301411.jp
26/05/2009, 10:30 AM
Con-Con

Quote:

Originally Posted by Mr A

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sp...nch.5301411.jp

Fine reporting.. Galway who lost 2-1 to Sligo:rolleyes:
26/05/2009, 12:42 PM
Macy

To me, trying to hang any of this on the examiner or the examinership process looks like spoofing. If the new owner didn't carry out proper due diligence that's the new owners problem.
26/05/2009, 12:44 PM
MariborKev

Quote:

Originally Posted by Mr A

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sp...nch.5301411.jp

No surprise to me, unfortunately.
26/05/2009, 12:57 PM
micls

Quote:

Originally Posted by Macy

To me, trying to hang any of this on the examiner or the examinership process looks like spoofing. If the new owner didn't carry out proper due diligence that's the new owners problem.

To give an example of costs arising from examinership, which mightnt have been known, Farrelly was awarded 36k yesterday apparently.

Now it was the examiner who sacked him and yet its the club who are now liable for this payout for unfair dismissal...
26/05/2009, 1:16 PM
OneRedArmy

Quote:

Originally Posted by Mr A

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sp...nch.5301411.jp

If that's the magnitude of it I'd be surprised tbh.

Kenny's a great manager but he's very high maintenance.

With our ground re-development dead in the water and crowds amongst the best in the League it's hard to see where revenue will come from.
26/05/2009, 1:16 PM
pineapple stu

Quote:

Originally Posted by micls

To give an example of costs arising from examinership, which mightnt have been known, Farrelly was awarded 36k yesterday apparently.

Now it was the examiner who sacked him and yet its the club who are now liable for this payout for unfair dismissal...

But he would have been aware that something was probably going to have to be paid arising from the case, and should have set aside some money for that contingency.
26/05/2009, 1:17 PM
micls

Quote:

Originally Posted by pineapple stu

But he would have been aware that something was probably going to have to be paid arising from the case, and should have set aside some money for that contingency.

Really? He should have known the examiner was unfairly dismissing someone, rather than just dismissing them(as happened to many other during the process)?
26/05/2009, 1:19 PM
tiktok

Quote:

Originally Posted by pineapple stu

But he would have been aware that something was probably going to have to be paid arising from the case, and should have set aside some money for that contingency.

The case was only taken after Coughlan took over.
Farrelly's success now means that other staff fired by the examiner might fancy their chances, should Coughlan have put money aside for that too?
26/05/2009, 1:38 PM
Macy

I still think that comes back to the due diligence. There had to be the possibility of cases, and then the chances of success of those cases should've been looked into.
26/05/2009, 2:02 PM
pineapple stu

I think the Farrelly case was mooted on here at the time. If we knew about it, I'm pretty sure Coughlan ought to have known about it. Especially if he conducted a proper due diligence. That's the whole point of due diligence - to see what skeletons are lurking.

In any case, why are CCFC being sued over actions taken by the examiner?
26/05/2009, 2:03 PM
micls

Quote:

Originally Posted by pineapple stu

I think the Farrelly case was mooted on here at the time. If we knew about it, I'm pretty sure Coughlan ought to have known about it. Especially if he conducted a proper due diligence. That's the whole point of due diligence - to see what skeletons are lurking.

In any case, why are CCFC being sued over actions taken by the examiner?

It was mooted on here when he mentioned taking the case, which was after Coughlan took over.
26/05/2009, 2:26 PM
tiktok

Quote:

Originally Posted by pineapple stu

In any case, why are CCFC being sued over actions taken by the examiner?

The Examiner was in control of CCFC when Farrelly was let go, but the employer was still CCFC so the case was brought against Cork City Investments Ltd.
26/05/2009, 2:28 PM
tiktok

Quote:

Originally Posted by Macy

I still think that comes back to the due diligence. There had to be the possibility of cases, and then the chances of success of those cases should've been looked into.

It was the Examiners job to handle the employees he let go in such a way that when the club was handed over to the new owner, such cases were not a possibility, at least in my opinion.
26/05/2009, 2:39 PM
passerrby

did not think it was possible but this process is draging the league down further and further and the teams we are supposed to look to as the models for professional football are nothing more than a joke
26/05/2009, 3:18 PM
pete

The way the Examiner sacked Farrelly is a sign that he is not infallible as seems to be suggested by some people.
26/05/2009, 3:33 PM
jimhacker

Quote:

Originally Posted by pete

The way the Examiner sacked Farrelly is a sign that he is not infallible as seems to be suggested by some people.

Not at all.

I thought Farrelly played well enough but even I didn't think he was THAT good!
26/05/2009, 5:11 PM
corkboy360

Quote:

Originally Posted by joey4ireland

Yiddo su,,ed it up well when saying we'll continue to live on the edge till TNB fcuks off. I don't think that will happen and it's only a matter of time before we cease to excist. The only thing that will change that is if there is a big attitude change amongst cork fans and support fot foras increases. I don't thionk that will happen though:(

But has it not been said somewhere that if Tommy does not pay the tax that FORAS will not come in(or be able to come in) to save the club ?
Lets say if the club doe cease to exist what happens with all the FORAS money ? rebuild a self sustainable well structured club or what ?
I also reckon FORAS should have student memberships for those of us still in school and going into 3rd level.
26/05/2009, 5:27 PM
Martinho II

Quote:

Originally Posted by joey4ireland

Yiddo su,,ed it up well when saying we'll continue to live on the edge till TNB fcuks off. I don't think that will happen and it's only a matter of time before we cease to excist. The only thing that will change that is if there is a big attitude change amongst cork fans and support fot foras increases. I don't thionk that will happen though:(

whos tnb ??? is that tom coughlan??:confused:
26/05/2009, 5:31 PM
corkboy360

Quote:

Originally Posted by Martinho II

whos tnb ??? is that tom coughlan??:confused:

Yes
Tommy NO BOBS
26/05/2009, 6:21 PM
Martinho II

Quote:

Originally Posted by corkboy360

Yes
Tommy NO BOBS

ah that makes sense its hard to get who it is when you are reading a thread very quickly especially when you are on the net
26/05/2009, 9:23 PM
gufct

I cant see Cork getting out of this now. Every loi club is struggling even with huge cutbacks crowds are down everywhere with the exception of Rovers yet Cork and Bohs still spend crazy money that they dont have.
26/05/2009, 9:26 PM
Umberside

Quote:

Originally Posted by gufct

I cant see Cork getting out of this now. Every loi club is struggling even with huge cutbacks crowds are down everywhere with the exception of Rovers yet Cork and Bohs still spend crazy money that they dont have.

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.
26/05/2009, 10:39 PM
placid casual

honestly hope city dont go to the wall. well not before Rovers go there in a few weeks anyway.
I wanted to see the new ground improvements before its goes tits up.
i'm sure its being asked before but are FORAS lined up to take over from this "charlatan"* coughlan.
it would appear the only way to operate.The revenue would look kinder on a group of people who have a vested interest in preservation of the club as opposed to exploitation/vain egomania by an individual.
but i could be wrong so best of luck anyways.

* my words
26/05/2009, 11:08 PM
osarusan

Quote:

Originally Posted by Umberside

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.

Pineapple Stu's gonna get you!
27/05/2009, 6:27 AM
Dodge

Quote:

Originally Posted by Umberside

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.

What are they compared to the frst 9 gmes of last season?

Comparing them to end of seaason kickabouts isn't really a true refelction
27/05/2009, 9:32 AM
Flexy

Quote:

Originally Posted by Mr A

Looks like Derry a struggling a bit as well: http://www.derryjournal.com/derry-sp...nch.5301411.jp

Its not that they are in financial trouble its just that the sponsors are not paying up, so we are looking for a new sponsor. Meteor and Derry News havent paid up yet for the year ahead
27/05/2009, 9:35 AM
Celdrog

Quote:

Originally Posted by Umberside

Our attendances are on average 1,146 better for the first 9 home games this season than for the last 9 home games last season.

There have only been 6 home games so far this season:rolleyes:
27/05/2009, 9:38 AM
pineapple stu

You can prove anything with stats. 75% of people know that, Kent.
27/05/2009, 9:43 AM
CuanaD

Quote:

Originally Posted by pineapple stu

You can prove anything with stats. 75% of people know that, Kent.

But the other 25% are 3 times as certain - which makes it 50-50 right?
27/05/2009, 9:50 AM
pete

Quote:

Originally Posted by Dodge

What are they compared to the frst 9 gmes of last season?

Down average of 1000 per game. This years numbers include the Drogs freebie home game.
27/05/2009, 11:48 AM
p�l-dcfc

Quote:

Originally Posted by Flexy

Its not that they are in financial trouble its just that the sponsors are not paying up, so we are looking for a new sponsor. Meteor and Derry News havent paid up yet for the year ahead

We are in financial trouble. Not to the same extent as some other clubs, but we aren't secure. By any stretch of the imagination.
27/05/2009, 12:07 PM
gufct

Quote:

Originally Posted by p�l-dcfc

We are in financial trouble. Not to the same extent as some other clubs, but we aren't secure. By any stretch of the imagination.

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land
27/05/2009, 12:08 PM
pineapple stu

Clearly, there's just about making ends meet and there's financial trouble. No-one's rolling in cash; doesn't mean there's cash flow problems.
27/05/2009, 12:35 PM
fergalr

Quote:

Originally Posted by gufct

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land

Rubbish. There are several clubs who are living within their means and playing by the rules.
27/05/2009, 12:38 PM
Dodge

Quote:

Originally Posted by fergalr

Rubbish. There are several clubs who are living within their means and playing by the rules.

He didn't say that wasn't the case. he said all clubs are struggling for cash. Which they are
27/05/2009, 1:05 PM
Ezeikial

Quote:

Originally Posted by gufct

Everyone is and any supporters who thinks everything is hunky dory in their own club are living in cloud cuckoo land

Why would you want to offend Drogheda fans by putting "Hunky Dory" and "Cloud Cuckoo land" in the same sentence? :)

http://www.droghedaunited.ie/news/single/id/1552
03/06/2009, 2:57 PM
Steve Bruce

Derry City look like they have major cash flow problems especially with losing the two sponsors.

Renewing next seasons season tickets this season & competitions to get your name on their shirt. Looks like big problems in the North West
03/06/2009, 2:58 PM
pineapple stu

But...but...everything's grand in Derry? They all told me so when I pointed out the problems six months ago?
03/06/2009, 3:24 PM
Mr A

I think the majority of the clubs in the premier are struggling financially to one extent or another.

Bohs- in trouble with 65% rule, ground deal looks to be unravelling, plan to increase revenue lacks credibility
Derry- have lost major sponsors, selling next year's season tickets early
Galway- struggled last year and while spending was cut the crowds have been poor this year.
Cork- well documented issues with revenue etc, etc.
Sligo- things likely to be very tight at best, struggled last year and FAI were very sceptical about their budgeting.
Dundalk- have already talked about needing to increase income.

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