Bohs, Pat's and Cork agree wage cap
From today's Irish Sun:
By NEIL O'RIORDAN
NO League of Ireland player currently out of contract will be paid more than €1,000 a week this season.
SunSport has learned that top clubs Bohemians, St Pat's and Cork City agreed to an informal and voluntary wage cap for 2009 last month.
Dublin rivals Bohs and St Pat's teamed up and decided that only one-year deals would be handed out - worth no more than €50,000.
In a sign of how rapidly things have gone downhill, the Inchicore club has since decided to pay no new signing more than €300 a week as they revert to a part-time operation.
Bohs and St Pat's had gone head to head for a number of players 12 months ago.
Bohs claimed they were priced out of a deal for Keith Fahey - who has since signed for Birmingham City - while St Pat's say they could not match the terms offered to Ken Oman and Killian Brennan.
Although the two clubs were again expected to vie for honours this year, they were determined not to get caught up in another auction for new signings.
Cork then indicated they would come on board. The trio did not ask other clubs to come on board because they did not anticipate that anyone would be paying that sort of money anyway.
Derry City - one of just three teams who have confirmed they will remain full-time - are the only other club who could pay those sort of wages, though their spending power has been reduced because of the fall in sterling's value.
But, soon after Cork agreed to the pact, they handed Joe Gamble a three-year contract which is believed to amount to more than €100,000 per annum. Out-of-contract Colin Healy has been told his wages will be halved if he stays.
Before the credit crunch, Ireland international Gamble had been offered a contract by St Pat's which would have been worth up to €250,000 a year.
But all clubs have moved to reduce their budgets. Despite making an exception for Gamble, Cork owner Tom Coughlan has played hard ball with other out-of-contract players.
It is believed Liam Kearney was offered substantially less terms by Cork before deciding to sign for Derry instead.
And, as the economic reality hits League of Ireland clubs, club's have revised their budgets downwards again.
A source said: "We did this deal because it was common sense but, in a way, it's already redundant because the finances are worse than people had anticipated."
Although the 15 players still on the books of St Pat's are on an average of €90,000 a year, they have been asked to take a 30 per cent pay cut.
And John McDonnell quit as boss on Thursday when he was told that he must sign part-time players on a maximum wage of €300 a week. In 2008, the yearly wage bill was €2.7m.
Bohs have also asked their 12 under-contract players to take a 30 per cent and it is expected an agreement will be reached on a reduction within the next week.
The source added: "The players are obviously reluctant to take a cut but the reality is that, if they don't, there may be no money to pay them at all later on in the season."
At present, Pat Fenlon is not in a position to add to his squad.
Out-of-contract players like Liam Burns and Stephen O'Donnell - both of whom made a vital contribution to their league and FAI Cup double - are still waiting to learn if they will be offered new deals.
Both were thought to be earning in the region of €1,500 a week but, if they are re-signed, they will receive two-thirds or less than that from the debt-ridden Phisborough outfit.
They are not the only clubs who have slashed their budgets. The most dramatic reduction is likely to be at Drogheda United - if the club even survive the Examinership process.
It is believed that their highest earner last year had a gross weekly wage of €3,600 - but that could be their budget for the entire squad if they are competing in the First Division.
Finn Harps boss Paul Hegarty has been told his budget will be cut from €12,000 a week to as low as €2,000 a week.
While Harps will also be in the First Division - unless they earn a reprieve if other clubs fail to obtain a Premier Division licence - spare a thought for Galway United boss Jeff Kenna.
Kenna has been told he must compete in the top flight off €6,000 a week. This time last year, predecessor Tony Cousins had €14,000 a week to spend on his squad.
