Petition to wind up: Cork City Investment FC Ltd

[dublinred]

I had a bit of sympathy for them in the past but think the FAI need to step in now if the stories about them trying to withold our share of the gate receipts from Friday night are true.

[eamo1]

I also had sympathy for them but this is really pulling the p*ss now.How can they not know how much money they owe and how many more chances are they going to be given?????????
If that is true that they withheld Sligo's share last Friday then thats bottom of the barrell stuff.Might not be true though.

[higgins]

With a wage bill still fairly high it seems to me that a lot of the 102k that was paid since the story broke will just be going to service tax over that period.

It's unclear if this is on top of ongoing payments or just a once off payment of 102k that came off the 'historical debt'... to borrow a phrase from Brian Lennox!

Have the FAI made any comments regarding Cork and the 65% rule ?
All Shels need is Cork to be in First Division next year !!! We'll never get out of that hole

[Ezeikial]

Have the FAI made any comments regarding Cork and the 65% rule ?
All Shels need is Cork to be in First Division next year !!! We'll never get out of that hole

Cork and Bohs too???

[political_rebel]

I also had sympathy for them but this is really pulling the p*ss now.How can they not know how much money they owe and how many more chances are they going to be given?????????
If that is true that they withheld Sligo's share last Friday then thats bottom of the barrell stuff.Might not be true though.

It is not true...Sligo left the ground with several thousand euros in cash...

[Dodge]

It is not true...Sligo left the ground with several thousand euros in cash...

That doesn't mean they didnt attempt to withhold it

All the comments I read on the issue suggested Cork paid it, but only after FAI/LOI intervention

[adamd164]

We should enter that $1m paranormal challenge in the states... How a penniless shyster kept an unviable football club in business for 6 months by moving club offices to a deserted Cobh hotel, operating a club shop out of a massage parlour and organising friendlies with lower league English clubs.

[brianw82]

We should enter that $1m paranormal challenge in the states... How a penniless shyster kept an unviable football club in business for 6 months by moving club offices to a deserted Cobh hotel, operating a club shop out of a massage parlour and organising friendlies with lower league English clubs.

Are they going to show his disastrous marriage to Mia Farrow?

[SeanDrog]

Good piece on it in todays indo

http://www.independent.ie/sport/socc...p-1774574.html


Some very interesting quotes - Coughlan stating he does'nt understand the examinership process, then he states that he has a figure in his head but its a different figure than the revenue has in his head and indicates that he will sort them out !!!! if I were revenue and read this , it would certainly get my back up and give me a very bad impression of this guy.

"It is a complex process," said Coughlan. "I don't understand the examinership process but the difference has to be agreed by both parties. We have a month but hopefully we can get it wrapped up in the next couple of days.

FIGURE

"There's a (settlement) figure in my head, but I don't think it's the same figure that's in the Revenue's head. I'll get our guys to sit down with them and say, 'look, this is what it is'."

The above doesn't add up, he is making out that it is all still up for negotiation but if this is the case then why are they making 102k payments an the judge looking for the remaining payment? To me (and its just my opinion) he is tying to pay off a limited amount hoping to appease the revenue but avoid paying all that is owed but it appears that the revenue are having none of it.

[Rovers Maniac]

I also had sympathy for them but this is really pulling the p*ss now.How can they not know how much money they owe and how many more chances are they going to be given?????????
If that is true that they withheld Sligo's share last Friday then thats bottom of the barrell stuff.Might not be true though.

For a crowd of 1853 or whatever the official crowd was, they tried to give us €2,500 our MC stood their ground so Cork changed it to 5k which was still not right, but we were told that was all we were getting. As it was worked out that it should be approx 7,5k for our share of the gate, we objected. The FAI were contacted and agreed that Cork should have give us 7,5k and Cork have been told to pay us the remaining balance by the FAI.

They also told us we were not allowed to put people on the gate as they would tell us how many and how much they would give us at the end, This information was relayed to our one and only female official which i think they thought may have been an easy touch. Anyway this was laughed at and the FAI official had to step in to tell we were allowed to have people on the gate.

Laughable stuff from Cork and very very amateurish from them.

[Dalymountrower]

For a crowd of 1853 or whatever the official crowd was, they tried to give us €2,500 our MC stood their ground so Cork changed it to 5k which was still not right, but we were told that was all we were getting. As it was worked out that it should be approx 7,5k for our share of the gate, we objected. The FAI were contacted and agreed that Cork should have give us 7,5k and Cork have been told to pay us the remaining balance by the FAI.

They also told us we were not allowed to put people on the gate as they would tell us how many and how much they would give us at the end, This information was relayed to our one and only female official which i think they thought may have been an easy touch. Anyway this was laughed at and the FAI official had to step in to tell we were allowed to have people on the gate.

Laughable stuff from Cork and very very amateurish from them.

Disgraceful stuff from Cork officials if true.

[tiktok]

To the question of 'not knowing how much we owe', we obviously know how much the revenue are looking for, but there seems to be disagreement on the figure. The club are arguing the point, in today's indo it makes clear that the issue is on the revenue bill for tax payable on wages we honoured from the examinership period.

All in all, I'm worried, we had three home games the last three weeks to help us on the money repaid, we're heading towards the break now and have two home games between now and the next hearing. The first this Friday against Dundalk, the second -v- Pat's which is on a Tuesday night, neither will bring in much cash. These two games will also have to bring in the wage bill for the next two months with our next home game against Bray being too late for the July pay cycle.

We're going to be seriously reliant on the Ipswich friendly bringing in some cash, bar the Roy Keane factor [long since flogged to death] there's not much of a draw in a game against Ipswich.

The club needs to get realistic, start making cuts in the July transfer window and start asking for financial help from those around who can offer it i.e. FORAS.

[Mr A]

Sligo should have had people on every gate to make sure they got their due. Most LOI clubs will shaft you completely on cup gates if they are let away with it.

[pete]

The club needs to get realistic, start making cuts in the July transfer window and start asking for financial help from those around who can offer it i.e. FORAS.

The club would have a lot more credibility if it started making expenditure cuts.

[Rovers Maniac]

Sligo should have had people on every gate to make sure they got their due. Most LOI clubs will shaft you completely on cup gates if they are let away with it.

We did, but this is the reason the hassle started in the first place because Cork turned around and told us that we were not allowed to have people on the gate. At this point Rovers reported the matter to the FAI official there who said we did have a right to have somebody stand at the gate. By the way i agree on you other point.

[marinobohs]

http://corkcityfc.ie/main.php?action...headlineID=988

Cork City Football Club wishes to confirm that in the High Court today, the case under the Companies Act was adjourned for four weeks.

Cork City FC has made payments to the Revenue totalling €102,000 and is continuing to work to clarify the exact amount outstanding. The club’s auditors are working to arrange a meeting with the Revenue in order to resolve the issue fully, and it is hoped that this meeting will take place before the end of the week.
.

As LOI fans should we not be happy that we have not "lost" another club ? even if it just delays matters for 4 weeks ?

[Dodge]

We should

But that doesn't mean we can't point out the ridiculousness that some clusb continue with

[Sidefx]

Good piece on it in todays indo

http://www.independent.ie/sport/socc...p-1774574.html


Some very interesting quotes - Coughlan stating he does'nt understand the examinership process, then he states that he has a figure in his head but its a different figure than the revenue has in his head and indicates that he will sort them out !!!! if I were revenue and read this , it would certainly get my back up and give me a very bad impression of this guy.

"It is a complex process," said Coughlan. "I don't understand the examinership process but the difference has to be agreed by both parties. We have a month but hopefully we can get it wrapped up in the next couple of days.

FIGURE

"There's a (settlement) figure in my head, but I don't think it's the same figure that's in the Revenue's head. I'll get our guys to sit down with them and say, 'look, this is what it is'."

The above doesn't add up, he is making out that it is all still up for negotiation but if this is the case then why are they making 102k payments an the judge looking for the remaining payment? To me (and its just my opinion) he is tying to pay off a limited amount hoping to appease the revenue but avoid paying all that is owed but it appears that the revenue are having none of it.

Another €225K due by 13th July according to the Irish Daily Star...

[sheao]

The Ipswich game will hopefully attract a good gate and some much needed cash for us!

[Hairy Bowsie]

All Shels need is Cork to be in First Division next year !!! We'll never get out of that hole

Sure if they send Cork and Bohs down, we won't even want to get out of it The first division will be where it's at.