New owners for Cork City

[pineapple stu]

Agreed, but the alternative suggestion (that the developers want to use Cork to build a new multi-purpose stadium with lots of profitable houses and shops around it) is still unrefuted. It may be nonsense, and obviously not owning your ground is in this case an advantage, but it's a possibility.

[adamd164]

Coughlan has said that our future lies in Turners Cross. hence the buying of the Horseshoe.

[micls]

Agreed, but the alternative suggestion (that the developers want to use Cork to build a new multi-purpose stadium with lots of profitable houses and shops around it) is still unrefuted. It may be nonsense, and obviously not owning your ground is in this case an advantage, but it's a possibility.

I dont think youl find many City fans with a problem with being used for the above, with FORAS involved to safeguard the future in some way.

Given that Arkaga already tried this and failed miserably though id imagine someone coming in now would be taking a bit of a risk trying the same, since I doubt the FAI will accept the flimsy promises of last time again.

[pineapple stu]

since I doubt the FAI will accept the flimsy promises of last time again.

So you're assuming the FAI have learnt from their mistakes?

I agree it's less likely to be a worry without your own ground, but property developers are notorious for screwing football clubs, and not just in this country. Obviously if FORAS are involved, so much the better.

Point about the Horseshoe is a good one too.

[micls]

So you're assuming the FAI have learnt from their mistakes?

Good point

I agree it's less likely to be a worry without your own ground, but property developers are notorious for screwing football clubs, and not just in this country.

True. I cant see how but then I didnt see a way for Arkaga to screw us either so there you go

Obviously if FORAS are involved, so much the better.

Point about the Horseshoe is a good one too.

yeah as I said, with FORAS having a seat on the board at least fans will be privy to whats going on and if things do start going down the tubes we should be aware of it early enough to do something about it.

[jebus]

yeah as I said, with FORAS having a seat on the board at least fans will be privy to whats going on and if things do start going down the tubes we should be aware of it early enough to do something about it.

We have a seat on our board, you'll find that it's a token gesture and you don't get invited to the serious meetings, trust me

[micls]

We have a seat on our board, you'll find that it's a token gesture and you don't get invited to the serious meetings, trust me

Do ye have a shareholding? Did ye put much money in?

[jebus]

Do ye have a shareholding? Did ye put much money in?

We had with the Soccer Limerick crowd and we gave our donation at the end of the season. Under the Yank we don't have any shares (or any problems yet to be fair)but still get to sit in on meetings.

Under the previous adminstration we were cut out of the loop whenever they didn't want us involved

[Dodge]

I agree it's less likely to be a worry without your own ground, but property developers are notorious for screwing football clubs, and not just in this country

Only one club has ever been screwed over a property deal in this country (Rovers)

So far anyway...

[micls]

We had with the Soccer Limerick crowd and we gave our donation at the end of the season. Under the Yank we don't have any shares (or any problems yet to be fair)but still get to sit in on meetings.

Under the previous adminstration we were cut out of the loop whenever they didn't want us involved

So they gave ye shares at teh start and ye paid at the end with the donation?

Its obviously something that will have to be looked at but doesnt company law have rules about the information that has to be passed on to shareholders?

[jebus]

So they gave ye shares at teh start and ye paid at the end with the donation?

Its obviously something that will have to be looked at but doesnt company law have rules about the information that has to be passed on to shareholders?

Probably, but I know for a fact that not all shareholders of Soccer Limerick were invited to board meetings (fair enough), or given the relative information after them.

We were given a seat on the board at the start and made a donation at the end, not 100% but I think the seat on the board came with shares. Either way some of our individual members had bought shares out of their own pocket and I remember there being problems regarding the lack of information coming from the club

[micls]

Probably, but I know for a fact that not all shareholders of Soccer Limerick were invited to board meetings (fair enough), or given the relative information after them.

Its certainly something that willhave to be kept an eye on but Id imagine as a company with shares FORAS would make sure they get what theyre legally entitled to anyway

[jebus]

Its certainly something that willhave to be kept an eye on but Id imagine as a company with shares FORAS would make sure they get what theyre legally entitled to anyway

Hopefully anyway. Watch out for small meetings between the main board members that aren't classed as official meetings though, technically FORAS don't have to be invited because it's not a Cork City meeting, but a lot will get discussed there. It's all cloak and dagger, but hopefully the new owners won't be like that with ye

[micls]

Hopefully anyway. Watch out for small meetings between the main board members that aren't classed as official meetings though, technically FORAS don't have to be invited because it's not a Cork City meeting, but a lot will get discussed there. It's all cloak and dagger, but hopefully the new owners won't be like that with ye

Yeah I know what you mean.

I think once we can get most of the pertinent information about finances and stuff though i.e. are we on the brink of them pulling out, so that the future can be safeguarded, Il be happy enough.

Also it gives FORAS time to build up funds in the meantime.

of course they could be lovely people who jst want the publicity and goodwill that woudl come with saving the Cork club but I wont be getting optimistic about that

[dcfcsteve]

The word property developer always sets alarm bells ringing.
I hope he's in the Mick Wallace mould for Cork's sake. Good news that an investor came along anyway.

That´s just your paranoia/cynicism.

Cork don´t own their ground, so there´s no predatory interest for a property developer in the club....

[Partizan]

If FORAS have enough already in the bank, why not a bid/joint bid with this or any interested consortium for the Horseshoe. That would automatically increase your barganing power for a permanent place on the board.

Jebus's sceptisim is well founded let me tell you.

[adamd164]

You must be gutted Partizan... looks like we'll survive now. Sorry for your troubles.

[passinginterest]

That´s just your paranoia/cynicism.

Cork don´t own their ground, so there´s no predatory interest for a property developer in the club....

Which I acknowledged a couple of posts later...

I'd love to see Cork saved and don't care who the investor is as long as they have the club and communities best interests at heart.

[higgins]

Some form of shareholding is worth a lot more than any place on a Board of Management. Not all decisions are taken at the Board table, lots will be decided between your chairman secretary treasurer etc i.e whoever are the Directors.

There's two Board levels.
Seats on the Board of Management are great but it's all for show and if you are not included in decision making outside of these meetings then tough, you've no comeback really. While most clubs will operate with Board of Managements making decisions, they don't actually have to do this and if you're not included outside of these meetings when decisions are being made that's just something you have to deal with.

Seats on a Board of Directors of the company controlling Cork City is totally different!

When these investors are offering seats on a Board, what Board are they talking about ?

Also have Arkaga agreed to wipe clean all the existing debts ?

[gufcfan]

Horseshoe has been up for sale for 12 months.

Details of it can be found here.