Receiver appointed to Ferrycarrig Park

What does this mean for Youths?

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A receiver has been appointed to Ferrycarrig Park, the Newcastle, Co Wexford sports grounds built by Wexford TD Mick Wallace’s construction company, M&J Wallace.

Bank of Scotland (Ireland) has appointed Tom Kavanagh of Kavanagh Fennell under powers conferred by mortgages registered by M&J Wallace and dated July 2008 and June 2013.

AIB and ACC Bank have already appointed receivers to the company on the basis of other mortgages.

The 2008 mortgage against the sports complex, which is home to the Wexford Youths soccer team, is also against an associated 14 acres and a wine licence.

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http://www.irishtimes.com/business/s...ness-1.1542907

The Youths are supposed to hold a lease until 2015 or 2016 so I presume that would still take precedence over any sale by the receiver. Who would want to buy a football pitch, slightly used, with state-of-the-art facilities including a wine bar and licence, in a desirable location overlooking the majestic River Slaney? I'd say it would go for a song if someone was able to put in any sort of bid with the receiver. Locally, can only think of the GAA but I think the Wexford county board isn't in great financial shape either.

I thought Wallace had handed it over to the club so this wouldn't happen, or at least there was discussion at some point that that was his intention

He can't hand it over if there's a mortgage secured against it and that appears to be the case.

Looking increasingly unlikely Wexford will be in the league next season.
Small piece in the star today saying they've confirmed to the FAI they'll definitely play their final home game in Ferrycarraig Park, but future is uncertain after that.

I would be very sad to see them leave the league. Good young club trying to build themselves up- a hell of a challenge to take on and they are doing OK.

How tied are they still to Wallace financially, if at all?

Sad day, I like heading there for a match.

It's probably to far from the town of Wexford to attract younger fans, maybe if there was access from the main road it would have helped a bit. I found it a strange place to visit with the state of the art clubhouse and wine bar, then rest the the ground was just a field with a tent on one side and a few portacabins.

I really hope wexford stay, I'd say that they are situated well outside the town like kilkenny has certainly not helped but I'd also say 6 or 7 seasons without a promotion challenge doesn't help either. Irish people are event junkies simple as.
Hope that no matter what the ground is kept for football, one flower lodge is enough for any loi fan.

The problems at Ferrycarrig Park received widespread coverage in the two Wexford local papers published today. The secretary of the club confirmed that the Youths are in the first year of a five-year lease and concluded by saying that he hoped the Youths would be there next season. The receiver would not provide any comment, when requested, in relation to the continued use of Ferrycarrig Park by the Youths. Finally, and a bit ominously for me, neither paper could get any comment from Mick Wallace regarding the situation.

On a couple of the other points mentioned above, it was a planning requirement that no access would be provided directly from the N11, so that meant that access had to be from the other side of the site. On the money owed to Wallace, there was an article some months ago in the Sunday Times that Wallace's company was owed €181,000 by the club, mainly, I think, for the rent of the ground.

Would be glad to hear any further news or rumours on this issue, of course.

There's a possibility the receiver could be able to break the lease if they're not up to date on the rent. Depends on if he thinks he could find a buyer and whether any buyer would be prepared to let the club stay on there. The other issue is how they could afford to pay any rent a new owner might want.

The most annoying thing for me always has been the lack of a decent entrance to the ground. A small under-developed back road really hampers a super little ground to visit.

yes a entrance straight from the motorway would be great.

Another white knight bites the dust and another League of Ireland club is caught in the middle again.
The club will survive only if the people of Wexford want it so its up to them now.

A Wexford Youths Supporters Trust would be fairly handy right about now. Sometimes things have to get really bad before they can get good again.

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Originally Posted by A face

A Wexford Youths Supporters Trust would be fairly handy right about now. Sometimes things have to get really bad before they can get good again.

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Its clearly the only way forward for Soccer in this country.Proper structures need to be built within any club in order for it to move forward.Maybe they should get a copy of the "Heart of the Game" handbook.It might just save their club.

Very difficult for such a young club who haven't threatened promotion to have a large and engaged supporter base to have an active trust.

I still people should take there hats off to mick wallace, I think at this stage we know all his deals probably weren't above board, but at least unlike the other corrupt politicians put the money into trying to decolonize a local LOI side

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Originally Posted by ForzaForth

The Youths are supposed to hold a lease until 2015 or 2016 so I presume that would still take precedence over any sale by the receiver. Who would want to buy a football pitch, slightly used, with state-of-the-art facilities including a wine bar and licence, in a desirable location overlooking the majestic River Slaney? I'd say it would go for a song if someone was able to put in any sort of bid with the receiver. Locally, can only think of the GAA but I think the Wexford county board isn't in great financial shape either.

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Don't think the GAA can afford it, they spent a lot of money on a field in Ferns and don't have the money to develop it now. I was told a few years ago that the Wexford Football League were sitting on a large amount of money but I'm not sure how true that is.

Kevin Doyle has just donated a substantial amount of money to the club according to the Star. Looks like we'll be around next year!