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Thread: New owners at dundalk

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    Quote Originally Posted by GCdfc View Post
    Who cares when the owners are gazillionaires?
    You will when the gazillionaires inevitably get bored and walk away some day - leaving your club saddled with contracts that it can't or won't honour.

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    International Prospect Nesta99's Avatar
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    Quote Originally Posted by EatYerGreens View Post
    You will when the gazillionaires inevitably get bored and walk away some day - leaving your club saddled with contracts that it can't or won't honour.
    Have you been isolating for a bit EYG? If you are to believe everything thats said, including the wishful thinking, this has all come to pass already!! Some magical open ended future proofed hindsight revisionism thrown in there too, Sullen would be impressed!

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    Quote Originally Posted by Nesta99 View Post
    Have you been isolating for a bit EYG? If you are to believe everything thats said, including the wishful thinking, this has all come to pass already!! Some magical open ended future proofed hindsight revisionism thrown in there too, Sullen would be impressed!
    What a weird response.

    It is inevitable that Peak 6 will walk away from Dundalk at some point. If you have proof that they will be its perpetual owners, then I'm all ears.

    When they do - if they haven't sold it to owners with deep pockets (and let's face it, they don't really exist in Irish football) then there is a serious danger that some player contracts will cause a financial issue. This is all such obvious stuff that I'm surprised I'm having to explain it tbh.
    Last edited by EatYerGreens; 14/09/2021 at 12:27 PM.

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    Quote Originally Posted by EatYerGreens View Post
    What a weird response.

    It is inevitable that Peak 6 will walk away from Dundalk at some point. If you have proof that they will be its perpetual owners, then I'm all ears.
    But this is the same for every football club, how likely is anything perpetually owned by one company, individual etc? Abramovich will one day leave Chelsea inevitably, it wont make me mystic meg when it happens. Its simply just stating the obvious. Just for the sake of it, Is there proof that Peak6 will walk away leaving the club saddled with debt unable to honor contracts? Possible - yes, likely - more likely than not imo, definitely - who knows?

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    Quote Originally Posted by Nesta99 View Post
    But this is the same for every football club, how likely is anything perpetually owned by one company, individual etc? Abramovich will one day leave Chelsea inevitably, it wont make me mystic meg when it happens. Its simply just stating the obvious. Just for the sake of it, Is there proof that Peak6 will walk away leaving the club saddled with debt unable to honor contracts? Possible - yes, likely - more likely than not imo, definitely - who knows?
    Denial is not just a river in Egypt.

    Good luck finding someone who will honour the Peak 6 contracts when they walk away. You're hardly Chelsea.

  6. #406
    Biased against YOUR club pineapple stu's Avatar
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    In fairness, Dundalk should be able to manage it that if/when Peak6 walk away, the club has enough Euro cash left to cover the remaining contracts, but of course then players would have to be all released as contracts end and a brand new (cheap/crap) squad assembled.

    I say "should be able" knowing full well that this is the League of Ireland of course...

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    International Prospect Nesta99's Avatar
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    Is there a river called Deflection? Is there an answer to the question? Brazen now that Derry are in a Billionaires club EYG, it'll be intereting see if ye can buy the clubs first title within the planned 3 years.

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    Quote Originally Posted by Nesta99 View Post
    Is there a river called Deflection? Is there an answer to the question? Brazen now that Derry are in a Billionaires club EYG, it'll be intereting see if ye can buy the clubs first title within the planned 3 years.
    Wee buns, league is full of crap teams hasnít been a good one since Kenny and Dundalk parted.

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    Quote Originally Posted by pineapple stu View Post
    In fairness, Dundalk should be able to manage it that if/when Peak6 walk away, the club has enough Euro cash left to cover the remaining contracts, but of course then players would have to be all released as contracts end and a brand new (cheap/crap) squad assembled.

    I say "should be able" knowing full well that this is the League of Ireland of course...
    Why would Peak 6 walk away when there was cash in the bank ? It's when there isn't and they're expected to fill the gap that you need to worry about.

    Or if they did want to bail when the club had cash in the bank, why wouldn't they take the cash with them? As expenses and/or Directors Loans repayments, for example. It's not as if they'll feel much compulsion towards the club, especially when they feel like they're getting abused by its fans.

    Peak 6 will have no incentive to worry about how the club is left once they leave. If anything it would be in their interests for it to fail afterwards, so they can say 'we told you you needed us'. These guys aren't short on ego and self-importance.

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    Seasoned Pro sbgawa's Avatar
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    If Peak 6 walk they will hand the club over for very little and ask for a percentage of future European money to pay back their investment IMO.

    The club is worthless as are most clubs. Its only Asset of any value is the European Co-efficient which if they qualify for Europe gives them a good shout ay going a long way, allowing the club to fold kills that value.
    Its why winning the cup this year is VERY important as not qualifying for Europe is basically like losing 1m of income as seeding will see DFC (probably) through a couple of rounds.
    Getting relegated doesn't bare thinking about as its two seasons out of Europe minimum and falling coefficient every year.

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    International Prospect Nesta99's Avatar
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    Quote Originally Posted by EatYerGreens View Post
    Why would Peak 6 walk away when there was cash in the bank ? It's when there isn't and they're expected to fill the gap that you need to worry about.

    Or if they did want to bail when the club had cash in the bank, why wouldn't they take the cash with them? As expenses and/or Directors Loans repayments, for example. It's not as if they'll feel much compulsion towards the club, especially when they feel like they're getting abused by its fans.

    Peak 6 will have no incentive to worry about how the club is left once they leave. If anything it would be in their interests for it to fail afterwards, so they can say 'we told you you needed us'. These guys aren't short on ego and self-importance.
    Is that a suggestion that they could stay if the circumstances are right?

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    Biased against YOUR club pineapple stu's Avatar
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    Quote Originally Posted by EatYerGreens View Post
    Why would Peak 6 walk away when there was cash in the bank ? It's when there isn't and they're expected to fill the gap that you need to worry about.

    Or if they did want to bail when the club had cash in the bank, why wouldn't they take the cash with them? As expenses and/or Directors Loans repayments, for example.
    You can't just take cash out of a company as "expenses". You could maybe invoice for consultancy or a management charge, but sure why not do that now? Is it even the most tax-efficient way?

    Loan repayments - what loan? Is there one? I've never seen anything to indicate Peak6 have put a penny into the club, and licensing rules state you can't put investment in as a loan anyway.

    Why would they walk when there's cash there? Easy - Dundalk with cash and the potential to be able to recover from the current shambles is a more valuable asset than Dundalk in the FD with the Revenue knocking at the door.

    Of course that requires some self-awareness on Peak 6's part, and Wild Bill doesn't show the remotest sign - outwardly at least - of that. It probably won't happen, but the soft crash outcome I outlined is definitely possible at the moment.
    Last edited by pineapple stu; 15/09/2021 at 4:55 PM.

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    Quote Originally Posted by pineapple stu View Post
    You can't just take cash out of a company as "expenses". You could maybe invoice for consultancy or a management charge, but sure why not do that now? Is it even the most tax-efficient way?

    Loan repayments - what loan? Is there one? I've never seen anything to indicate Peak6 have put a penny into the club, and licensing rules state you can't put investment in as a loan anyway.

    Why would they walk when there's cash there? Easy - Dundalk with cash and the potential to be able to recover from the current shambles is a more valuable asset than Dundalk in the FD with the Revenue knocking at the door.

    Of course that requires some self-awareness on Peak 6's part, and Wild Bill doesn't show the remotest sign - outwardly at least - of that. It probably won't happen, but the soft crash outcome I outlined is definitely possible at the moment.
    Their last accounts showed they had 3 million in the bank but owed 3.4 with 1.7 of that owed to peak6.

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    Biased against YOUR club pineapple stu's Avatar
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    That's weird. Why would you lend money to a company that has money? Maybe it was too cover Euro costs before the group stage prize money was paid. (The accounts are on their website, I've found)

    Though tbh I hadn't realised that Dundalk only made E100k profit last year when reaching the EL group stages. In 2018 they lost 700k and in 2019 it was E1.2m. If they lose 1.2m again this year, they've no money left for next year.

    So the point remains that in theory Peak could walk leaving enough Euro money to cover existing contracts, allowing a soft crash - except that it seems that actually that boat has already sailed.

    There's a lot in that post that should terrify Dundalk fans tbh.

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    Seasoned Pro sbgawa's Avatar
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    I'd say they put the money in to keep the show on the road before they qualified for GS.
    Which in a way is a good indicator that they are prepared to do so again for next season.

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    International Prospect Nesta99's Avatar
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    Quote Originally Posted by pineapple stu View Post
    That's weird. Why would you lend money to a company that has money? Maybe it was too cover Euro costs before the group stage prize money was paid. (The accounts are on their website, I've found)

    Though tbh I hadn't realised that Dundalk only made E100k profit last year when reaching the EL group stages. In 2018 they lost 700k and in 2019 it was E1.2m. If they lose 1.2m again this year, they've no money left for next year.

    So the point remains that in theory Peak could walk leaving enough Euro money to cover existing contracts, allowing a soft crash - except that it seems that actually that boat has already sailed.

    There's a lot in that post that should terrify Dundalk fans tbh.
    Very much so! There is no denying the potential catastrophe, but there is no obvious indicator of just pulling the plug - though it's possible that's was what Bill was threatening between the lines in his comments on fan support. There are other things ongoing that would indicate that its an empty threat. If a buyer steps up they will sell but in the mean time I dont think they will actively run down any 'value' there is to the club, though actively being involved has had that effect anyway. Again only time will tell.

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    Quote Originally Posted by pineapple stu View Post
    That's weird. Why would you lend money to a company that has money? Maybe it was too cover Euro costs before the group stage prize money was paid. (The accounts are on their website, I've found)

    Though tbh I hadn't realised that Dundalk only made E100k profit last year when reaching the EL group stages. In 2018 they lost 700k and in 2019 it was E1.2m. If they lose 1.2m again this year, they've no money left for next year.

    So the point remains that in theory Peak could walk leaving enough Euro money to cover existing contracts, allowing a soft crash - except that it seems that actually that boat has already sailed.

    There's a lot in that post that should terrify Dundalk fans tbh.
    Most people would hold their hands up and say "My bad - I got all that wrong", but hey...

    Peak 6 are an investment company/vehicle. They are involved in Dundalk entirely to make money. They had no emotional connection to either the club or the league/sport before they got involved, and don't appear to have developed much of one since either. They will do what is right for them, and it will revolve entirely around money. Because that's why they're involved with Dundalk.

    A number of people said right from the very start that Peak 6's involvement would not be good for the club and would probably not end well. Precisely because they're in it for all the wrong reasons. We were just dismissed as being jealous etc at the time. There are a lot of chickens in the Dundalk area looking for somewhere they can come home to roost.

    If Peak 6 were to leave, why would they do so with enough money left in the club to enable a soft crash ? They're in it to make money, so why would they not take as much of it out as they can get away with ?.
    Last edited by EatYerGreens; 19/09/2021 at 12:39 PM.

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    Quote Originally Posted by EatYerGreens View Post
    Most people would hold their hands up and say "My bad - I got all that wrong", but hey...

    Peak 6 are an investment company/vehicle. They are involved in Dundalk entirely to make money. They had no emotional connection to either the club or the league/sport before they got involved, and don't appear to have developed much of one since either. They will do what is right for them, and it will revolve entirely around money. Because that's why they're involved with Dundalk.

    A number of people said right from the very start that Peak 6's involvement would not be good for the club and would probably not end well. Precisely because they're in it for all the wrong reasons. We were just dismissed as being jealous etc at the time. There are a lot of chickens in the Dundalk area looking for somewhere they can come home to roost.

    If Peak 6 were to leave, why would they do so with enough money left in the club to enable a soft crash ? They're in it to make money, so why would they not take as much of it out as they can get away with ?.
    That's a huge generalisation!!! All you need to do is to look at Oriel Web and here from that time and you will see significant concern with most takng a wait and see approach, not dismissing things. Its has to be highlighted that this mess is not as a result of a lack of commitment financially by Peak 6, its the opposite, over financing a team that is sub standard. They, via Bill, made the mess and have pointed the finger of blame elsewhere. Whatever about LoI but a lot of football clubs have owners that invested to make money, its probably the most common goal for club owners. Benefactors are a lot less common.

    What will pan out is that for as long as there isnt a buyer for the club, for Peak6's asking price, Peak6 will remain. They may slash budgets of course but a 50% cut in the playing budget wont be uncompetitive. As it happens there is concrete interest in buying the club from Peak6, it will of course depend on P6 expectations. If they simply wanted out they wont obstruct offloading the club with unreasonable demands.

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    International Prospect Martinho II's Avatar
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    Quote Originally Posted by Nesta99 View Post
    That's a huge generalisation!!! All you need to do is to look at Oriel Web and here from that time and you will see significant concern with most takng a wait and see approach, not dismissing things. Its has to be highlighted that this mess is not as a result of a lack of commitment financially by Peak 6, its the opposite, over financing a team that is sub standard. They, via Bill, made the mess and have pointed the finger of blame elsewhere. Whatever about LoI but a lot of football clubs have owners that invested to make money, its probably the most common goal for club owners. Benefactors are a lot less common.

    What will pan out is that for as long as there isnt a buyer for the club, for Peak6's asking price, Peak6 will remain. They may slash budgets of course but a 50% cut in the playing budget wont be uncompetitive. As it happens there is concrete interest in buying the club from Peak6, it will of course depend on P6 expectations. If they simply wanted out they wont obstruct offloading the club with unreasonable demands.
    How realistic Nesta is this interest from dundalk fans involved in that company based in Newry?
    Daire Doyles red and black army

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    International Prospect sadloserkid's Avatar
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    Quote Originally Posted by Nesta99 View Post
    As it happens there is concrete interest in buying the club from Peak6, it will of course depend on P6 expectations. If they simply wanted out they wont obstruct offloading the club with unreasonable demands.
    Wasn't it reported that POS valued Limerick at 2 or 3 million when he was 'trying' to sell the club? Club owners and unreasonable demands are a long way from being strangers.

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