QuoteCare to expand? What happened at the meeting?Originally Posted by geezer
Care to expand? What happened at the meeting?
Listen on RTE Player.
http://www.rte.ie/news/morningirelan...5406,flash,257
Can someone explain to me and this is NOT **** stirring, what happens to the people owed the €900K by GUFC? Is it really that easy to walk away from debts and start up again under a new title? Just intrigued by it all as someone whose only involvement is at amateur level and a casual fan of the international team
I suppose they should be thankful the debts won't get any bigger? Cos that's almost certainly what would have happened next year if GUFC had gotten a licence.
The holding company will presumably go into liquidation. Whatever assets the club have (can't imagine they've much) will be sold to pay off preferred creditors (banks and government/councils) and the directors will be liable to pay back the loans they personally guaranteed (these seem to be in six figures). The new club might choose to pay back some of the smaller creditors (Derry did this by honouring season tickets bought from the previous club).
Last edited by Charlie Darwin; 19/12/2011 at 5:41 PM.
dont let it get to you we do it all the time in the LOI and then we say things like "but the new men running the club will be far more smarter than them &**3**ks who got us into this mess "and "its all (insert name) fault but he is gone now so its all over for the old club, this is a brand new era (six months later they will be on here telling you that they have a long history and its not a NEW club.
and this is not aimed at GUST but at clubs in general (except my own of course)
I wish i did not know then what I dont know now
You can't be accused of not taking It serious....
It's not GUST debt - they're not walking away from anything they are responsible for. If GUST get a licence it will be a new club and new company. If it was the same people walking away and starting again, it wouldn't be so easy, although it does happen in business.
If you attack me with stupidity, I'll be forced to defend myself with sarcasm.
GUST will honour debts accrued during the time in which GUST were involved in running the club. Any other debts that are the responsibility of the GUFC Ltd, not that of GUST.
GUST are the club as far as I'm concerned and while it is a new entity, they are people who have proven themselves to be competent, picking up the pieces left by the directors, who have proven the opposite of themselves without any doubt. Finally being in control of the "club" will allow the process of reversing the damage to begin.
GUST may have been running the club on behalf of the directors since February, but not having the ultimate say allowed GUST to be undermined still in their efforts. One director was allegedly actively trying to sabotage the club.
Given the opportunity, I think GUST FC can be a huge success. The lunacy of the last few years could easily have been avoided by a couple of level heads. The club did what they liked and "ah sure the GUST lads will pick up after us when we don't pay... haha" was the attitude.
As recent as this season, representatives of the FAI were saying how great United were a few years ago, running a Black and White Ball fund-raiser in the Galway Radisson for example. It certainly brought a lot of money to the coffers, mostly because none of the bloody suppliers were paid. This is the exactly the type of behaviour that went on all the time and certainly explains how things have gone the way they have.
When directors were claiming to have been putting in money to the club, they seem to have mostly been taking out loans, hence the massive bank debt THEY now owe. It is not the responsibility of GUST or any supporter to pay this back. They were taken out and guaranteed by the directors. The banks may or may not see value in going after their money, but I hope they do.
Recently I saw an article about Don O'Riordan (now in China) who left United in 2001 to manage Sligo. Ten years and as many managers later, we have gone from a club with structures in place, youth teams winning all before them, a club that went out into the community... to what it has turned into... A club that has nothing but contempt for supporters, serving only as a plaything.
GUST represent my interests as a fan. I wish them the very best of luck. We have to see what the heads in the FAI decide, but outside of that, there will be no luck involved.
Last edited by gufcfan; 19/12/2011 at 8:46 PM.
Well, prior to the Lex Poetelia Papira, they could force the directors of GUFC into indentured servitude. After they changed the law, it become common to jail the directors until their families paid the debt. Later still, the practice was to excuse the debt, tell the directors that they're very naughty men, slap them on the wrist with a short ban from directorships and ask them could they please not do it again. Currently, as far as I can make out, the government assumes control of the business, raising taxes to pay for the debts, and continue to pay the directors exorbitant salaries and cocaine allowances. However, plans are in place to force the populace to additionally perform oral sex on key elected officials across Europe for the pleasure of being so thoroughly ****ed over.
You can't spell failure without FAI
The FAI have issued a short statement on Monday's meeting with Galway United Supporters Trust calling it "a productive and informative meeting".
www.galwayunitedfc.net
Last edited by Terry; 21/12/2011 at 5:07 AM.
Any chance GUST would follow suit and let us know how it went? The silence has been defeaning
"Billy Corgan, Smashing Pumpkins."
"Homer Simpson, smiling politely."
The FAI have released a statememt, Woodquay Boy. GUST won't be making any comment pending further updates from the FAI.
I heard the FAI have lots of concerns about this new club and it's looking "unlikely" that they will be in the first division next season.
Expand...no point in throwing up statements unless you have the info to back it up
that link brings u to the forum.. wheres the statement on it??
Gary Cronin is he the right man to manage Longford Town?
So much for being open and 'ask a question and we'll answer it'
"Billy Corgan, Smashing Pumpkins."
"Homer Simpson, smiling politely."
Unfortunately WB its not a perfect world and no one can answer every question they are asked online. Were you at the meeting last sunday or the AGM the week before every question there was answered.
We are the Galway Boys Stand up and make some noise"
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