Bohs in financial trouble

**marinobohs** · 22/11/2011, 11:37 AM

Originally Posted by Mario

Interesting take of dalyer situation from someone on rovers forum ...

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I don't think it is that simple.
Firstly the land - the site is 5.2 acres. Development land is off approx 90% from its peak. That would leave Dalymount on a valuation of �6.5mio (10% of �65mio, assuming Carroll offer was market peak). Albion have a valid claim to say an acre of that which leaves Bohs owning 4.2 acres at a valuation of �5.25mio (a generous valuation given planning likely to be difficult and the site has restricted access). All this assumes they can realise that value by sellling the site. Banks are no longer lending against development land and anyone with cash has their pick of sites from NAMA, etc. Phibsboro wouldn't be top of your list and the Mountjoy redevelopment is now unlikely to happen as the new prison development in Thornton Hall is now dead. It's hard to believe anyone would buy Dalymount today with a view to sitting on it until the property market rebounded.
BUT - Zurich Bank Ireland pulled out of property lending in 2009 and have marked down the value of their book aggressively, including presumably the Bohs loan. It is possible that, if they feel there is no prospect of getting their money back, they simply write the loan down to zero (it may already be there) and hand back the security (the car park on the Connaught St side). That would be a serious result for Bohs, although they would still have little prospect of selling the site in the current market. If they could persuade Zurich that they are broke, would Zurich walk? Are Bohs that smart?

Sale of Dalymount was always more influenced by Mater Hospital development than possible (longer term ) Mountjoy development. Valuation is so way off what club had it valued at (although any valuation comes with health warning).

Planning permission already in place so not a problem.

Zurich are exiting Ireland so I doubt very much they would invest any more in any site. More likely they will screw whatever they can get out of Dalymount deal, while they might agree settlement (might) I doubt it would be anywhere near zero (presuming Bohs could even afford any settlement figure

).

**adamd164** · 22/11/2011, 2:18 PM

Fenlon to Hibs is a done deal according to Bowez fans - 3.5 year contract.

**ltfc_2004** · 23/11/2011, 10:44 AM

Knowing something of how ZB works , the Car Park is all they want and someone at their credit committee before helpfully suggested, turning the whole place into a car park for the Mater as it would make them more money !!!

**passerrby** · 23/11/2011, 12:42 PM

Originally Posted by ltfc_2004

Knowing something of how ZB works , the Car Park is all they want and
someone at their credit committee before helpfully suggested, turning
the whole place into a car park for
the Mater as it would make them
more money !!!

What would be the difference between dailyier been a football pitch or a carpark
The bangers would cost less boom boom , I'll get my coat

**SkStu** · 23/11/2011, 4:34 PM

http://www.bohemians.ie/news/4-club-...at-fenlon.html

Bohemians statement on Pat Fenlon

@bfcdublin Bohemian FC confirms that Hibernian FC this afternoon (Wednesday, 23rd November) sought and was given permission to speak to Pat Fenlon about the managerial vacancy at Hibernian.

cheerio Pat - good luck with the Hibees. They got the best man for the job.

**placid casual** · 23/11/2011, 8:28 PM

cheerio Pat - good luck with the Hibees. They got the best man for the job.

well he perfected the art of finishing 5th last season.bound to come in handy at easter road.

**Rasputin** · 23/11/2011, 9:58 PM

Happy to see Fenlon go to Hibs, hopefully that means MON is staying in Tallaght.

**Nah Nah Nah Nah** · 24/11/2011, 2:09 AM

Originally Posted by Rasputin

Happy to see Fenlon go to Hibs, hopefully that means MON is staying in Tallaght.

Wow.

The man who has won the last 2 leagues is probably staying where he is.

Meanwhile we lost our best player.

Ingenious from you yet again

**Charlie Darwin** · 24/11/2011, 6:22 AM

It looks like MON will probably be on his way in any case, but delighted for Nutsy. It's a great opportunity for him and I wish him all the best.

**nigel-harps1954** · 24/11/2011, 8:02 AM

There's no guarantee he'll actually go the Hibs though. He'll need a fairly good wage to have to leave I'd imagine.

**Dodge** · 24/11/2011, 9:30 AM

Originally Posted by nigel-harps1954

There's no guarantee he'll actually go the Hibs though. He'll need a fairly good wage to have to leave I'd imagine.

Nutsy? He'd go in a heartbeat.

Too much going on behind the scenes in Dalymount.

Its win/win for everyone though. He wants to go, Bohs want him off the wagebill. Hibs get a good manager

**Charlie Darwin** · 24/11/2011, 10:03 AM

Why wouldn't he be offered a good wage? Even average SPL clubs have Sky money that no LOI club could match, even Bohs at their most delusional.

**nigel-harps1954** · 24/11/2011, 10:59 AM

Not saying they won't give him a good wage, but sure look at Paul Cook from Sligo, turned down St.Johnstone. I'll agree it'll most likely happen, but there is always the possibility it won't.

**TiocfaidhArmani** · 24/11/2011, 11:01 AM

Originally Posted by Charlie Darwin

Why wouldn't he be offered a good wage? Even average SPL clubs have Sky money that no LOI club could match, even Bohs at their most delusional.

The new SKY/ESPN deal gives them approx �2.3 million a year, which is nearly what Rovers turnover a year. The rumour is he's being offered in the range of �150/200k a year with a house rented for him and a new car, although the car is standard for a new manager coming in from abroad.

A nice 20k stadium, crowds over double what the biggest club in Ireland get even though they're struggling and a nearly new �6 million top class training facility to train his players in. The little shiite has bankrupted more clubs (not entirely his fault I know) and always seems to land on his feet.

**pateen** · 24/11/2011, 11:10 AM

Any compo for the Boez?

**nigel-harps1954** · 24/11/2011, 11:15 AM

Originally Posted by pateen

Any compo for the Boez?

Hmm..

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**Dunny** · 24/11/2011, 11:28 AM

Originally Posted by pateen

Any compo for the Boez?

No.

If you believe whats being said

**culloty82** · 24/11/2011, 1:21 PM

The Daily Record seem to think the main terms of the deal have been agreed - nothing revealed about salary before tomorrow, it seems.

**SkStu** · 24/11/2011, 2:31 PM

Originally Posted by Dunny

No.

If you believe whats being said

I believe what is being said - the board is very believable - but the fact the Bohs board pointed out that they had to give him permission to speak with Hibs suggests that he remains under contract and what the implications of that, in the absence of a clause or agreement to the contrary, is compensation.

That said, i personally dont want compensation - Nutsys daily slog and commitment to our club over the last few years has been compensation enough - and i really hope that the Board isnt going for it (i dont think they are).

**askmehoop** · 25/11/2011, 5:43 PM

Originally Posted by TiocfaidhArmani

The new SKY/ESPN deal gives them approx €2.3 million a year, which is nearly what Rovers turnover a year. The rumour is he's being offered in the range of �150/200k a year with a house rented for him and a new car, although the car is standard for a new manager coming in from abroad.

A nice 20k stadium, crowds over double what the biggest club in Ireland get even though they're struggling and a nearly new �6 million top class training facility to train his players in. The little shiite has bankrupted more clubs (not entirely his fault I know) and always seems to land on his feet.

didnt realise he had financial control at shels