Drogs seek examinership

**Longfordian** · 23/10/2008, 3:35 PM

Depends how serious the "serious expressions of interest" are really. If they can come up with a decent package for creditors they can get out of it despite the Revenue's objections.

**blackholesun** · 23/10/2008, 3:39 PM

> And all for want of half a million when 8m has already been pumped in. Seems ridiculous.

????????????? The whole Drogs "investment" was a property play using the club as a lever with the council ect for PP.

I dont think it was ever about the football club, ok it might have been in Hoey's head, but sure wasnt he at the whims of the developers all along?

By accepting their money to blow on the team, Hoey put the cart before the horse and most of the mess is his fault if you ask me! They coulda developed the stadium idea without "investing" in the team at the same time!

bhs

**pineapple stu** · 23/10/2008, 3:39 PM

Originally Posted by Longfordian

Depends how serious the "serious expressions of interest" are really. If they can come up with a decent package for creditors they can get out of it despite the Revenue's objections.

True. Though how serious has any "serious expressions of interest" ever been in this league?

**Longfordian** · 23/10/2008, 3:42 PM

Originally Posted by pineapple stu

True. Though how serious has any "serious expressions of interest" ever been in this league?

Not very. Particularly any ones involving Mr. R Collins and any of his friends.

**Dodge** · 23/10/2008, 3:43 PM

If they have any football related debt (wages, tansfer fees etc) and don't have agreements in place, they won't get a premier license AFAIk

**Longfordian** · 23/10/2008, 3:47 PM

True Dodge. Don't think they are supposed to get a First Division one either though most clubs and players will be amenable to an agreement.

**Dodge** · 23/10/2008, 3:51 PM

Originally Posted by Longfordian

True Dodge. Don't think they are supposed to get a First Division one either though most clubs and players will be amenable to an agreement.

Do you think Sligo will be if it�s the difference between them in europe or not?

**Longfordian** · 23/10/2008, 3:58 PM

Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.

**seand** · 23/10/2008, 4:10 PM

Originally Posted by Longfordian

Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.

Really? That's the first I've heard of that. That'd mean if Cork win the league next year, no Champions League place?

**Dodge** · 23/10/2008, 4:10 PM

Originally Posted by Longfordian

Teams in examinership within the past three years can't enter Europe under UEFA rules anyway so it's no difference to Sligo really.

If that's confirmed...

**Longfordian** · 23/10/2008, 4:31 PM

Has it not been confirmed yet? Wasn't sure on that one, I knew it was proposed anyhow.

**John83** · 23/10/2008, 4:48 PM

Originally Posted by Longfordian

Has it not been confirmed yet? Wasn't sure on that one, I knew it was proposed anyhow.

I think it's that it hasn't been tested yet.

**OneRedArmy** · 23/10/2008, 4:52 PM

Are you sure it isn't "having been bankrupt in the last 3 years"?

Bearing in mind that examinership is specific to Ireland and bankruptcy legislation differs in each country I'd be surprised if it relates specifically to examinership.

**Longfordian** · 23/10/2008, 5:13 PM

I'd imagine it's up to the individual association to word it according to the practice in their country such as Administration in England, Examinership here etc. You have to obtain a UEFA Licence through your Association and presumably that regulation comes into play then.

**pete** · 23/10/2008, 5:47 PM

Originally Posted by Longfordian

Teams in examinership within the past three years can't enter Europe under UEFA rules anyway....

That is the rumour but already mentioned never been used yet. 3 years would be very harsh. No doubt Uefa have one rule for big clubs and another for the smaller countries again.

With stadium looking like a distant dream can't see any one wanting to "invest" in Drogs. Best they hope for is white knight.

**Cosmo** · 23/10/2008, 5:56 PM

Originally Posted by pete

With stadium looking like a distant dream

Nobody knows whats going on at the club or what the boards intentions are bar the 3 lads - but I genuinely dont think the 3 lads see it as a 'distant dream' just yet.

There could be a few more twists and turns with this over the next couple of months!!

**Dodge** · 23/10/2008, 6:03 PM

Originally Posted by pete

That is the rumour but already mentioned never been used yet. 3 years would be very harsh. No doubt Uefa have one rule for big clubs and another for the smaller countries again.

Well Coleraine were barred for 3 years. They'd be treated the same way as English or Scottish clubs (with the similar bankruptcy laws)

3 years doesn't sound too harsh to me BTW

**Longfordian** · 23/10/2008, 10:16 PM

Absolutely, it wouldn't seem harsh to me either. Examinership/Administration (in UK) should be a process of last resort to keep your club alive, not seen as a small bit of breathing space from your creditors. Three years without European football should be a sacrifice you're willing to make.

**Dodge** · 24/10/2008, 12:30 AM

http://www.belfasttelegraph.co.uk/sp...-13876128.html

"It is with regret that the Management Committee of Coleraine FC announces that the club will not be able to play in the UEFA Cup in 2008/09 season," said a statement issued by the club.

"This is due to a failure to meet specific UEFA requirements in respect of the UEFA Licence application and is as a result of the clubs period of Administration falling within a 3 year criteria period prior to application.