Cork City Examinership

[HarpoJoyce]

Oh, the irony coming from a Dublin City fan is delicious!

Are you telling me you learned nothing from your club's existence, and would do it all again?

In 20 years' time, this league will be a wreck of dead, debt wracked clubs and us (and Rovers) will be winning everything. Course the fans of said dead clubs will be saying that it's purely because the league wasn't sustainable or some other ridiculous, brain-dead cliche.

Because you are a moderator your edits are not shown.
For clarity and transparancy is it possible to show where you have edited your posts.

Secondly, your last post shows you do not know much about the history of the League of Ireland.

You have made many points on this thread and have chosen to try to embarrass different individual posters. If you repeat any of the points you have already made I would consider that serious WUMing.

[Steve Bruce]

I do believe you have to accumilate to speculate as well. But there are calculated risks and there is gungho stupidity. And if a club is going towards the wall, then that is gung ho stupidy.

Linfield are making calculated risks by going partially full-time. We could go gung ho and employ 20 full-timers. But that would be stupid as there is no g'tee of success and we would need success in europe to be sustainable. At the moment our budget only allows for 7 or 8 full-timers. Until we increase our revenue streams it will have to stay like that.

[gufct]

I dont think Rovers are completely debt free so it looks like you will be playing with yourself Stu. Oh sorry i forgot thats nothing new.

[pineapple stu]

The UCD model depends totally on funding from an outside benefactor, similar to Drogheda/Pats/Cork, etc.

A benefactor singular, is it? News to me.

There are indeed people giving money to the club, as with any club. It's more than one, and the various fundraising we do means that if any one of our money sources goes, we're still OK. People said we were a one-club man until that one man died. Likening us to Drogs/Pat's/Cork is nonsense.

[Schumi]

Because you are a moderator your edits are not shown.

I don't think this is true. See here. The post you quoted wasn't edited.

I dont think Rovers are completely debt free so it looks like you will be playing with yourself Stu. Oh sorry i forgot thats nothing new.

Hilarious...

[pineapple stu]

The post you quoted wasn't edited.

It was, within about 30 seconds. Harpo's just being anal again.

[HarpoJoyce]

It was, within about 30 seconds. Harpo's just being anal again.

Huh! At least I've got one and mine works.

[Sheridan]

Leaked footage of UCD's submission to the IAG:

[Schumi]

It was, within about 30 seconds. Harpo's just being anal again.

Does it not show up at the bottom of the post then? Didn't know that.

Leaked footage of UCD's submission to the IAG:

How did Dublin City's go?

[pete]

You will finds plenty of City fans who were suspicious about Arkaga when they took over City. Certainly the confusion over ownership in the first 6 months put a lot of people off. Rumours of financial mismanagement seem now to be targeted towards former CEO.

I was very concerned that they could spend money & leave us with large debt. The FAI rules said clubs could not borrow money to make up their turnover which seemed to indicate that debt could not be left on the books. We don't own any assets (Shels borrowed against future assets) except for the players wages so many fans (myself included) that worst case scenario was that they would walk away & we would have to start from scratch with clean slate. TBH I did not think they would rack up such debt by no paying their bills.

To date it has been suggested we own money to junior club (5k), MFA (they won't evict us & wouldn't need money desperately), Hummel (100k suggested) & some other suppliers. I can't see how this would get anywhere near 800k. The figures of 75k a week wages are also way off the mark.

[Steve Bruce]

You will finds plenty of City fans who were suspicious about Arkaga when they took over City. Certainly the confusion over ownership in the first 6 months put a lot of people off. Rumours of financial mismanagement seem now to be targeted towards former CEO.

I was very concerned that they could spend money & leave us with large debt. The FAI rules said clubs could not borrow money to make up their turnover which seemed to indicate that debt could not be left on the books. We don't own any assets (Shels borrowed against future assets) except for the players wages so many fans (myself included) that worst case scenario was that they would walk away & we would have to start from scratch with clean slate. TBH I did not think they would rack up such debt by no paying their bills.

To date it has been suggested we own money to junior club (5k), MFA (they won't evict us & wouldn't need money desperately), Hummel (100k suggested) & some other suppliers. I can't see how this would get anywhere near 800k. The figures of 75k a week wages are also way off the mark.

75k a week wages seems far too huge to be true. I would say 40-50k would be closer, but that is a guess.

[Schumi]

Is the 75k figure for two weeks maybe? The players are paid fortnightly going on the statements about late wages. That's still a wage bill of €2m a year though.

Even assuming what seems like the best-case scenario of Arkaga paying the debts and disappearing, is there likely to be someone in a position to take over and pay the players for the rest of the year/next year?

[pineapple stu]

Leaked footage of UCD's submission to the IAG:

We won. Suits me. But you know, fair play to the others. At least they tried.

How long did Joe Gamble sign his new contract for?

[pete]

Is the 75k figure for two weeks maybe? The players are paid fortnightly going on the statements about late wages. That's still a wage bill of €2m a year though.

Even assuming what seems like the best-case scenario of Arkaga paying the debts and disappearing, is there likely to be someone in a position to take over and pay the players for the rest of the year/next year?

I think wage bill of E2m is more likely. We do have probably 10 permanent non-football off the pitch staff though.

Property Developer Owen (you might remember me from the Mahon Tribunal) O'Callaghan name has popped up again as he was in negotiations last year. Before he started development on city centre shopping centre he gave us free premises for club shop on main street. From his comments I don;t think he is involved in the current discussions but may get involved later on.

Best case scenario is Arkaga leaving asap & someone else coming in asap.

[Patrick Dunne]

A benefactor singular, is it? News to me.

There are indeed people giving money to the club, as with any club. It's more than one, and the various fundraising we do means that if any one of our money sources goes, we're still OK. People said we were a one-club man until that one man died. Likening us to Drogs/Pat's/Cork is nonsense.

UCDs major benefactor is the college, funded by the taxpayer.

[Réiteoir]

Does it not show up at the bottom of the post then? Didn't know that.

How did Dublin City's go?

Got it here from the archives at the FAI:

[pineapple stu]

UCDs major benefactor is the college, funded by the taxpayer.

Nope.

(Or rather, yes, they're a benefactor, but not so major that we'd die without their money, which was your original point)

[jebus]

The UCD model depends totally on funding from an outside benefactor, similar to Drogheda/Pats/Cork, etc.

I think he's talking about running your club within your means though

[pineapple stu]

There's that as well. There's lots of reasons he's wrong. People saying the "UCD model" means no debt are wrong as well. Everyone has debt; it's just a case of keeping it under control and spending only what you have.

[Patrick Dunne]

It is relatively straighforward to run a club within its means - most of the First Division clubs seem to be able to do so.

Running a competitive Premier Division team which can compete against mid-ranking European sides is a different matter entirely.