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And I like the fact that there has been no attempt to explain how these losses came about from any of the Rovers fans.
Sometimes it seems that the Bohs/Rovers default bickering is a convenient cover for both to avoid actually discussing issues about their clubs.
is that not the same as saying the bank forced you into administration as it would not give the club any more money. although i do agree the 400 club was a great lifeline and a welcome addition to the club. my point was that the circumstances were not of your making but were a result of poor management. the fact that the 400 club was waiting in the wings to take over after the disaster was not a buisness plan. as for the stadium i dont think that was anything to to with forward planning but as i said falling into **** and coming out smelling of roses.Quote:
Originally Posted by Mario
p.s sorry for the use of the phrase "in fact" .this is only my belief and nothing more
Yes, this old board didnt plan for the 400c to take over but the 400c hit the ground running when they took over and had a business plan in place.Quote:
Originally Posted by passerrby
:p
Not quite, the 400 club was funding Rovers in 2003 and 2004. During that time Maguire (former chairman) was promising the deals to fund Tallaght were nearly there. After 18 months of listening to his ******ology the 400 club realised he was nothing but a bull**** artist screwing the club. At the end of the 2004 season the 400 club stopped funding SRFC in an effort to force the then board out. It also held meetings with the FAI and blew the whistle on the dodgy accounts the Maguire board had submitted. Without the continued funding from the 400 club SRFC was in grave trouble and Maguire had no option but to put the club into examinership (on 400 club advice) in April 2005. As soon as an examiner was put in place the 400 club took control and ran the club. Examinership lasted 3 months during which time the 400 club had to pay the players over inflated salaries which the Maguire board had sanctioned. These 3 months of examinership drained most of the funds the 400 club had leaving only about 250k to buy the club and pay off creditors which wouldn't have been enough. The 400 club teamed up with Ray Wilson in a 50 50 partnership and the rest they say is history. All in all the 400 club would have pumped close to €1 million into SRFC up to the end of 2005.Quote:
Originally Posted by passerrby
Does Ray Wilson (dont no anything about him) still put money into the club or is he just a regular member now??
Probably shouldn't be posting this here but I don't see why it would be top secret.
As each year passes and the members club (formerly 400 club) keeps investing more money into SRFC, Ray's shareholding dilutes until eventually the members club will have 100% ownership of SRFC.
Regular member, his original 50% share holding has been diluted over time as the members monthly subs keep rolling in. He said all along that he didnt put the money in as an "investment" but just to help save the club he loves.
If Rovers do win the league this year, or if Pats do, then for the first time in years and years we'll have a Championship winning side built on a sustainable budget. That does suggest a certain shift from recent years if it does happen.Quote:
Originally Posted by Lim till i die
Really? Given the losses an the accounts with the CRO?Quote:
Originally Posted by Jicked
Yes. Even if you take that as gospel, which I certainly wouldn't by any means, the debt incurred is nothing like what Shels, Drogheda, Cork and Bohs have run up to. I have no idea what Pats financial sitaution is, but judging by the cutbacks made to their squad this year, I'd presume it's a manageable budget.
You wouldn't take CRO documents as gospel?
You're aware of what happened the last time Rovers submitted falsified documents to the CRO?
Sorry I wasn't clear, having heard what was said at the AGM, I and most Rovers fans don't have too many fears that we are running at that sort of loss. The figure of the loss on last season was set out at the AGM and reasons for it were explained at the time.
I hadn't realised Rico was back in involved with Rovers...Quote:
Originally Posted by Jicked
Yes. Losses last year were not down to paying excessive wages to players and Rovers will make a very healthy profit this year.Quote:
Originally Posted by Macy
There are many ways to skin a cat, there's more than one way to score a goal.....Quote:
Originally Posted by pineapple stu
I've read I think 3 different interpretations of the same accounts on this forum alone..
Or Sligo. They made a six-figure profit last year don't ya know!Quote:
Originally Posted by Jicked
So you're suggesting that actually the accounts that you've published are falsified?Quote:
Originally Posted by dfx-
Seriously, this takes "My club can do no wrong" to new heights. I acknowledge what's been said about the reasons for the loss, but there's no way in hell you can do anything other than take CRO records as gospel, unless you're saying the club is involved in serious fraud.
Huh? No, I'm not suggesting that. The accounts are as published and correct. Where did you get that idea from?
From you seeming to agree with Jicked when he says he wouldn't take the CRO accounts as gospel.
Quote:
Originally Posted by pineapple stu
Course not Stu. CRO accounts are of course correct. The interpretation of said accounts on this forum has been a bit hit and miss though. Last years losses were explained at the AGM. There is also a very detailed explanation of the retained loss figure posted by a board member on our members forum over the weekend so all our members know exactly what is going on.
PS Mr moderator, the last 10 or so posts should be in the Rovers Accounts thread not this one.