Drogs' Court Case

[Cosmo]

Why is their share value in the club not reduced in line with what the creditors accepted?

Look, weve gone through the courts - the court have approved us going forward, thats just it. any whinging, direct it that way! cheers!!

[Sam_Heggy]

Look, weve gone through the courts - the court have approved us going forward, thats just it. any whinging, direct it that way! cheers!!

Take long to think of that detailed answer?

[Cosmo]

Take long to think of that detailed answer?

As long as it took you to write your input into the 'debate' anyway.

Fact is the court approved our set up going forward, all above board, - if people dont like it, tough- thats it, end of story

[gufct]

There are clubs who owe less than a quarter of what Drogheda & Cork owed the revenue that could be refused any licence for next season. If this happens and both of the aforementioned clubs get a premier licence it holds the whole system upto ridicule.

[Sam_Heggy]

There are clubs who owe less than a quarter of what Drogheda & Cork owed the revenue that could be refused any licence for next season. If this happens and both of the aforementioned clubs get a premier licence it holds the whole system upto ridicule.

Exactly, in Harps case we owed €290k at the start of Jan. That is a fifth of what Drogheda owed, we were in danger of not getting a Prem licence at that time but have raised funds in the mean time and should be ok now.
We have set a petit budget (half that of Drogheda) in order for us to pay all our creditors IN FULL.
Other clubs have struggled to pay back their debts and their on field must suffer as a result.
This is not a pop at Drogs fans who are not responsible for this situation but, it does stink that clubs can get away with paying 12% of debts, come out with a clean slate and still compete in the Premier Division.

In our case I don't know if we would have got the Prem Licence, it could have been Cobh or UCD who would have taken the place.

[Cosmo]

but, it does stink that clubs can get away with paying 12% of debts, come out with a clean slate and still compete in the Premier Division.

Of course it does - but its not as were having attacking other clubs or something - we're just getting on with things, the courts have given us the go ahead - and if the FAI give is the go ahead, we're hardly gona turn it down!!

[Celdrog]

Exactly, in Harps case we owed €290k at the start of Jan. That is a fifth of what Drogheda owed,

We did in our hole owe €1.5M.
We spent millions and owed €700k. Harps spent very little and owed €300k, that says a lot. Will all the Harps fans who have the issues be the same when you hit examinership? You might have to give that €750k grant back

[gufct]

We did in our hole owe €1.5M.
We spent millions and owed €700k. Harps spent very little and owed €300k, that says a lot. Will all the Harps fans who have the issues be the same when you hit examinership? You might have to give that €750k grant back

He is talking about your overall debt not what ye owed the revenue. At least Harps like most clubs are living in the real world and that last sentence is laughable from a Drogs Fan.

[tiktok]

There are clubs who owe less than a quarter of what Drogheda & Cork owed the revenue that could be refused any licence for next season. If this happens and both of the aforementioned clubs get a premier licence it holds the whole system upto ridicule.

Examinership is a last resort for any company, especially a football club. There's no guarantee that you'll get out of it at all. Both Cork City and Drogs could have disappeared last season, the way some people are acting you'd swear that it was all part of a master plan.

Coming from a Galway fan, who's club signed up players they couldn't afford and were highly selective on who they made redundant midway through the season, it's a bit rich.

[Cosmo]

like most clubs are living in the real world

Hold on there, if the licensing was enforced by the letter of the law, maybe 1 or 2 clubs might get a Premier License. F*** all clubs have been living in the 'real world' as you say.

Ourselves (no way would I even dare defend us over getting ourselvesw into such a mess) and Cork were probably the worst culprits - but most other premier league club were living well beyond their means last season aswel, including galway and finn harps!!

As I said, we ain't going around attacking other clubs - weve just survived the biggest mess we've ever found ourselves in (and I personally didnt think we'd survive it), got the judges approval to work away for the future and have applied for a premier league license like other clubs (again like most others who didnt live in the 'real world' last season, but on a lesser scale!!)

[MeathDrog]

Hold on there, if the licensing was enforced by the letter of the law, maybe 1 or 2 clubs might get a Premier License. F*** all clubs have been living in the 'real world' as you say.

Ourselves (no way would I even dare defend us over getting ourselvesw into such a mess) and Cork were probably the worst culprits - but most other premier league club were living well beyond their means last season aswel, including galway and finn harps!!

As I said, we ain't going around attacking other clubs - weve just survived the biggest mess we've ever found ourselves in (and I personally didnt think we'd survive it), got the judges approval to work away for the future and have applied for a premier league license like other clubs (again like most others who didnt live in the 'real world' last season, but on a lesser scale!!)

Spot on.

[El-Pietro]

while im glad the drogs have survived im annoyed that clubs who didnt overspend or go mad on wages are being dealt differantly then clubs like drogs. Yesterday Limerick came within two hours of going out of existance due to a tax bill half the size of what the drogs have to eventually pay up. Clubs like limerick and many others have no finance at this time of the year due to no gates and now with the economic climate no or reduced advertising or sponsorship revenue. so limerick for sticking to the rules pay 100% of their tax bill while drogs pay only 2/3% of theirs.

shameful

just for the record

Cork City paid 15% of our tax bill

[Student Mullet]

just for the record

Cork City paid 15% of our tax bill

In any other field of human endeavor, you wouldn't rush to put that on the record.

[Celdrog]

For the record we did not owe €1.5M.
You'd swear the FAI paid our debts going by some people on here. (They didn't did they)

[Sam_Heggy]

For the record we did not owe €1.5M.
You'd swear the FAI paid our debts going by some people on here. (They didn't did they)

Drogheda didn't even pay their debts never mind the FAI.

[ndrog]

Drogheda didn't even pay their debts never mind the FAI.

oh yes we did .We paid exactly what we could pay , all totaly above board and legal .

[El-Pietro]

In any other field of human endeavor, you wouldn't rush to put that on the record.

im just saying as some people are talking about 2 and 3%

Shamrock Rovers paid around that much we offered 15% and the Revenue objected

we offered 7.5% to our other creditors

also we offered 50% of any prize money won in 2008 and 50% of sell on fees from Kevin Doyle, Alan Bennett, Roy O'Donovan and Shane Long I think

i don't know what Drogheda paid

[gufc2000]

If Drogheda get a licence it defeats the whole purpose of the licensing system. If fair is fair, the FAI will tell them where to go......... THE FIRST DIVISION

[ndrog]

If Drogheda get a licence it defeats the whole purpose of the licensing system. If fair is fair, the FAI will tell them where to go......... THE FIRST DIVISION

I agree .Licensing is a mess , as is everything about the whole leauge and the fai .There has to be serious change next season. Saying that as a supporter i really hope to be in the premier

[gufc2000]

I agree .Licensing is a mess , as is everything about the whole leauge and the fai .There has to be serious change next season. Saying that as a supporter i really hope to be in the premier

At least you are honest. IMO ye would be better off stabilising yereselves like Shels in the First Division for a season cos in Alan Matthews yeve got a manager with patients. How do ye feel about what type of players ye'd be able to atract?