Doyle 10% cashed in.

[razor]

Coughlan has cashed in our 10% sell on for Doyler for €200K

[Dodge]

Coughlan has cashed in our 10% sell on for Doyler for €200K

Seriously? And does that 200k go to creditors

[pineapple stu]

50% of it, I assume. Not sure how I'd feel about it if I were them.

[razor]

50% of it, I assume. Not sure how I'd feel about it if I were them.

Slightly nauseous at the moment but if the money was needed then it was needed, players need paying up.

[centre mid]

Its a shame you couldnt hold out until a sale but if its needed now, was there much choice?

[passinginterest]

That seems mad. Still a decent chance he'll be sold in January and with him just signing a new contract it'd be a minimum of £8 million. I suppose if the money was needed urgently to ensure players were fully paid up by November 31st in order to secure a premier division license for next season.

[razor]

Its a shame you couldnt hold out until a sale but if its needed now, was there much choice?

I don't know but at the fans forum the other night Coughlan said that the 10% wasn't exactly 10%. that it was only 10% of the first payment.
That if Doyler went for 10m but in 5 X £2m installments that we'd get £200K. (still more than the €200K we seem to have got though)
Sounds crazy to me, can't believe Lennox would have agreed to this.

Quote from our own forum

Last week, Thursday I think, Coughlan apparently got a call (from you know who) to be told Doyle was signing a new contract with Reading and would not be leaving Reading anytime soon. Coughlan is rumoured to have gone over to Reading and Reading bought out the 10% clause for a fee (200k or 300k depending on the currency I think).

[brianw82]

Cork wouldn't be the first club to do this. Southampton let appearance clauses and future monies go to get cash in hand for Bale and Walcott.
I'm guessing Coughlan decided to cash in after Doyle signed his new contract last week.

[pineapple stu]

Slightly nauseous at the moment but if the money was needed then it was needed, players need paying up.

Seems to most logical reason alright; no money to pay back wages, which means no licence for next year, so get some cash in urgently to ensure you don't get relegated.

[pete]

I don't know but at the fans forum the other night Coughlan said that the 10% wasn't exactly 10%. that it was only 10% of the first payment.

That seems to the big issue. Amazing this has not come out until now given that 10% clause has been discussed everywhere for the last few years.

Reading obviously looking out for themselves but hard not to feel like they are vultures

[razor]

Reading obviously looking out for themselves but hard not to feel like they are vultures

Them and others.

[pete]

Them and others.

Never short of advise.

[Dodge]

Reading obviously looking out for themselves but hard not to feel like they are vulchers

That anything like a vulture?

If it was anything but Doyle I'd have nthing but sympathy for Cork*. Scandalous actions by certain people.


*you all know why

[micls]

That anything like a vulture?

If it was anything but Doyle I'd have nthing but sympathy for Cork*. Scandalous actions by certain people.


*you all know why

Understandably.

Frustrating though and very harsh on the creditors imo

[higgins]

Does this break any agreement you had with the creditors after examinership ?
Deals with players on repayments are all you require.

How could you be that stuck for 100K after only a few weeks of clearing 90% of your debts!

[yiddo]

from official City site

http://www.corkcityfc.ie/main.php?ac...headlineID=702

Cork City FC and Reading FC have concluded a deal on Kevin Doyle. Reading FC have purchased Cork City’s sell-on clause on Kevin Doyle for an undisclosed sum.

Both clubs are extremely pleased to have cooperated successfully on this deal.

Nick Hammond, Director of Football for Reading FC said: “Reading welcome its excellent relationship with Cork City FC and sees this relationship continuing to prosper successfully for both clubs.”

Cork City FC wish Kevin Doyle every success with his future at Reading FC. Cork City would like to thank Reading FC for this continued support over the last number of years.

[Dodge]

How could you be that stuck for 100K after only a few weeks of clearing 90% of your debts!

PLayers wages deferred.

If it saves Cork, its a good deal for them

[A face]

I hate Reading even more now, if that was even possible.

[pineapple stu]

Why? You instigated it, it seems. And it's certainly your own fault.

[razor]

Why? You instigated it, it seems. And it's certainly your own fault.

It was instigated by a phone call to Tom Coughlan from a fast food loving ex manager/advisor after Doyle signed a new contract the other week.