QuoteIn 'De Paper' this morning as well.
Talk of a Major Stake though as opposed to a complete takeover. Disaster if that's true. Anyone who gets into bed with TNB and allows him any stake in the football club needs their head examined.
Local Radio Station 98Fm is reporting that there will soon be new owners of Cork City FC.
Not popping any champagne just yet. Just hoping!
Surely, anyone must be better than TNB.
It'll be interesting to see if Coughlan's name is on Roddy's contract and if it was signed after the ban imposed on Coughlan. With the pressure from FIFA and Floriana, and rumours of solicitor's letters flying about because of Roddy's [post-apology] comments on 98FM and in The Star, it'll be interesting to see if the new owners want to keep Roddy, or in fact, if the FAI will register the appointment.
Cork City: Making 'Dream Team' seem realistic since 2007.
In 'De Paper' this morning as well.
Talk of a Major Stake though as opposed to a complete takeover. Disaster if that's true. Anyone who gets into bed with TNB and allows him any stake in the football club needs their head examined.
Cork City: Making 'Dream Team' seem realistic since 2007.
Also on 96fm.Originally Posted by tiktok
Ive heard the owner of Adidas Ireland thrown about quite a bit lately.
Cant think of his name though
Tommy No Bobs
Michael O'Connell is the guy you're thinking of.
He used to run the Adidas Ireland Franchise, he doesn't own it or run it anymore I think.
Cork City: Making 'Dream Team' seem realistic since 2007.
Surely, anyone must have been better than Arkaga...
Fair point
Cork City: Making 'Dream Team' seem realistic since 2007.
OK, just looking for a very quick round up of the Cork situation......
- Possible new or part new owner of Cork
- Will the be in the Premier, 1st of A Championship for the 2010 season
John Delaney only said that there will be a Cork team in the League next season.
There's still a possibility that Tommy won't get a licence, but that the FORAs application would be successful.
Though if TNB sells up and the current entity is still short on the licence application, I'm expecting to see a lot of investors and hedge funds pump their money into fudge.
Cork City: Making 'Dream Team' seem realistic since 2007.
I expect that if the club get new owners that they would get a licence (although it may be first division depending on criteria). Is the licencing application the reason they are trying to offload some players still owed money from last season (I think all debts to players must be cleared for licencing purposes) ?
We'll worry about the fudge later.
Main thing now is the removal for ever of Tommy No Bobs.
Todays news is quite positive but as we're dealing with Tom I ain't getting my hopes up.
Should he go I can foresee massive celebrations in the City this week.
"Must you tell me all your secrets when it's hard enough to love you knowing nothing."
http://worddok.blogspot.com
Hopefully it is endgame for TNB.
I can even live with Roddy and his jackeen journeymen for a year, even if it has to be in the 1st division, once we never have to look at the No Bobs clan again.
Cork City: Making 'Dream Team' seem realistic since 2007.
He was in attendance at the Avondale-Rockmount MSL game over the weekend so there might be 1 or 2 Cork men in the side.
"Must you tell me all your secrets when it's hard enough to love you knowing nothing."
http://worddok.blogspot.com
or he missed his train home
54,321 sold - wws will never die - ***
---
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Maybe TNB promised him a bus back to Dublin.
We're not arrogant, we're just better.
Quotes from todays papers, apparently on a statement from the club;
Paying out “more than €420,000 in back pay and a revenue settlement of €400,000. Both these were inherited from the previous owners. The club required a further investment of approximately €430,000 to cover the day to day running.”
€400,000 revenue settlement Sure he didn't even ****ing pay that himself, €229,000 of it came from the man who's now trying to buy the club; the bulk of the remaining money that went to this was in the Club Bank account due to pay players who chose to forego payment in the hope that the club would be OK, that's a matter of public record. A huge chunk of that money, more than €150,000 must still be owed to Michael O'Connell, given the low takings from the Celtic game which was meant to cover the bill.
€420,000 in back pay I don't actually believe that the figure was this high, but let's pretend it was, around the time that this would have been due we took in €150,000 by winning the Setanta Cup and €100,000 by prematurely selling the Kevin Doyle buy-out clause back to Reading. That's €250,000 that didn't come from TNB's pocket, which seems to be what the article is suggesting. So let's give him credit for pumping €170,000 of his own money in [which I still don't believe to be perfectly honest].
€430,000 to cover day to day running I don't believe this figure or his cheek in looking for it. But Let's pretend it's true. Does he seriously expect to be rewarded for misjudging the budget of the club so much that an extra €430,000 had to be pumped in to cover the player contracts, staff contracts, general managers and hangers on that he put in place. When we came out of examinership we had 7 contracted players and three staff worth hanging onto, every penny he added on top of that is a cost that he created himself.
Get out of our club you ****!
...and cut out this legacy/inherited debt nosense, no-one is buying it.
The Revenue bill when we were in examinership was cleared, we paid 15c in the Euro on it.
We had a €400,000 revenue settlement less than a year later. The only way possible that this amount could have been a hangover from the previous administration was if the entire amount was on tax on the wage bill you claim was carried over from the previous administration. You expect us to believe you had €400,000 tax due on a €429,000 inherited wagebill?
Really? You think we're that ****ing thick do you?
**** OFF!
Last edited by tiktok; 25/01/2010 at 1:55 PM. Reason: More Rage!!
Cork City: Making 'Dream Team' seem realistic since 2007.
Got €250k for Mooney as well didn't ye?. What happened to that?.
Upwards to the vanguard where the pressure is too high.
dunno but it was paid in August 2008 so tnb didn't get his hands on it!
"Its the bad players who are the luxury not the skillfull ones"
Danny Blanchflower
Ah yeah I forgot Tom hadn't taken over at that stage. I presume it went to paying creditors of Arkaga so.
Upwards to the vanguard where the pressure is too high.
To the fountain if true!
From the "Evening Echo" website.
http://www.eveningecho.ie/news/index...p=eyeymheycwmh
Cork City chairman Tom Coughlan last night confirmed that he is in talks with a local consortium with a view to relinquishing control of the club.
Coughlan took over the Leeside outfit in October 2008 but they have been beset by financial woes — a winding-up order from the Revenue Commissioners is due for next Monday while the club is under pressure to fulfil league licensing requirements in time for Friday’s deadline.
Local finance group Quintas, fronted by Jim McCarthy, are involved in the talks along with local businessman Michael O’Connell.
McCarthy and Quintas were heavily involved with behind-the-scenes restructuring at Cork City after it survived last summer’s winding-up order, issued on behalf of Revenue.
A statement issued last night confirmed that “negotiations are ongoing with a group comprising Jim McCarthy, Quintas and Michael O’Connell with a view to taking a significant stake in Cork City FC”.
The Evening Echo newspaper first reported the group were looking to take over the club on December 10.
Coughlan was quoted in the statement as saying: “I am delighted that this group have an interest in developing a community based club which can aspire to bring the best domestic and European football to Cork. The hard work of readjusting its cost base has been completed, it now needs a larger capital base to strengthen its future position.”
The statement went on to point to a “turbulent year for the club”, paying out “more than €420,000 in back pay and a revenue settlement of €400,000. Both these were inherited from previous owners. The club required a further investment of approximately €430,000 to cover the day-to-day running.
“The club having made all the necessary cuts is confident that with this new investment coupled with a new manager in Roddy Collins and a European campaign to come, is well positioned to have a great year on and off the field. Cork City is being advised by James Riordan who hopes to progress discussions this week. The club will keep the FAI fully informed of all negotiations.”
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