Cork City in Financial Trouble?

**Mr A** · 27/10/2006, 2:44 AM

Have a look at this- it's not overly clear but it does seem like there's going to have to be readjustment of spending on Leeside. Or it could just be an attemot to drum up support from business.

http://www.eveningecho.ie/pdf/back.pdf

**dancinpants** · 27/10/2006, 3:31 AM

Seems to be alot of "IF this and IF that..." going on there. TBH it reads more like self-promotion on that guys part than anything else really.

"avid Chelseas fan" = "I'm a Chelseas supporter"

**Ronnie** · 27/10/2006, 8:40 AM

Same old story I'm afraid. The cyclical nature of success, the poor crowds and the overvalued players by the clubs. Only about 3 or 4 of the 21 clubs, at some point over the last 5 years have not been in trouble. Is there any player in this league that any club can justifably pay over a 100k per annum? Cork have 4 earning over 100k per annum. Even at an average of 3000 per home match it would take about 75% of the total annual gate receipts to pay 4 players. Thats simply unsustainable.

**razor** · 27/10/2006, 9:09 AM

Its a public plea by Lennox to drum up money for the club.
He is finding it increasingly difficult to run the club on his own and would obviously like it if someone else came in and shared that burden.

**Jaime** · 27/10/2006, 9:20 AM

The way Fenn is touting himself to every club in the country these days, it's a fairly obvious suspicion that Cork are in trouble. Or else Rico just loves marginalising and/or driving out his best players.

**fbtn** · 27/10/2006, 9:20 AM

20 grand a week! No wonder they are in finanical difficulty. Thats big cash.

And if it is true that 4 players are on over €100,000 then that is just nuts. I don't know how any club can justify paying that out unless they are walking the league every year.

**drinkfeckarse** · 27/10/2006, 12:34 PM

He talks about running the clubs properly but then talks about City having a 20,000 all seater stadium

Has he thought of how much it would cost to run that? Small steps man. Crowds are down this season and no club in Ireland has any need for anything bigger than a 10,000 all seater stadium. He's right about one thing though...it is a vicous circle.

**Dodge** · 27/10/2006, 12:38 PM

Cork are obviously in trouble. They spoke of going back to semi pro weeks ago

**drinkfeckarse** · 27/10/2006, 12:48 PM

I think they would have been ok Dodge IF they had been able to sustain 5,000 crowds. They haven't because they haven't added any players or kept the momentum going and an oportunity for a brand to grow has probably been lost. That's the vicous circle though isn't it, the money isn't there now to add a bit of quality.

**Poor Student** · 27/10/2006, 12:53 PM

In any event it is suicide to run a team that can only be sustained at the level of absolute success. It's hurt Bohs and it's only sustainable at Shels due to the eventual sale of Tolka.

**Mr A** · 27/10/2006, 1:06 PM

They haven't because they haven't added any players or kept the momentum going and an oportunity for a brand to grow has probably been lost. That's the vicous circle though isn't it, the money isn't there now to add a bit of quality.

The problem seems to be that they were already shelling out serious money just to keep the existing squad in place. And having the biggest crowds in the country also makes you most vulnerable to a drop- as I pointed out yesterday the 700 odd drop in Cork's average crowd probably equates to about 125k over the season- and their expenditure on tax obviously climbed a lot from last year.

Basically it all goes back to overpaying players who aren't worth it IMO.

**NY Hoop** · 27/10/2006, 1:13 PM

Couldnt believe when Lennox started talking about moving them to a stadium on the outskirts of the city.

Hello? Has everyone forgot the bishopstown debacle?

When the cross is finished it will be a compact 7000 seater stadium. That is adequate. If he wants bars etc buy the horseshoe at the corner or stick a bar in under the new stand at the shed end.

KOH

**pete** · 27/10/2006, 1:15 PM

20k a week is only 1 million a year & Bohs, Shels & Drogs all have larger spending on smaller crowds.

Success means that players look for higher salaries & clus need to keep their best players. I am not knocking After Derrys recent successes it will be interesting to see how much their wage bill increases next year when comes to pay reviews.

I think crowds have been down this year but i expect them to pick up next season with the opening of the new shed stand. I don't know if any other eL club owned & funded by 1 person so Brian Lennox is really just looking for others to come on board to share the burder.

I would be wary of any irish person who describes himself as a Chelsea fan as clearly only discovered football in the last few years.

**Schumi** · 27/10/2006, 1:30 PM

Originally Posted by pete

20k a week is only 1 million a year & Bohs, Shels & Drogs all have larger spending on smaller crowds.

Yes but Bohs and Shels can't sustain that spending without their property plays and Drogheda are being bankrolled. Cork can't get any money from Turner's Cross and AFAIK Lennox is trying to cut back the money he's putting into the club. I don't think Cork's crowds are enough above Bohs/Shels to cover that spending.

**A face** · 27/10/2006, 2:10 PM

65% is a big factor here lads .... but that'll effect all clubs so that'll even things up a tad ..... and sure thats always good yeah

**Dodge** · 27/10/2006, 2:16 PM

Thats not coming in until 2008 season, abd the clubs haven't even been told if Directors loans/investment will count towards the total figure yet

**Mr A** · 27/10/2006, 2:23 PM

There seems to be a lot of confusion over when this is coming in. The FAI document says it comes in in Licensing 07- which I assumed meant it was coming in next year, but could on reflection mean that it comes in with the licensing applications for the 2008 season.

But would they then be looking back at the previous year's accounts- otherwise what's the point- would they just be looking at club budgets?

**The Good Son** · 27/10/2006, 2:35 PM

At a recent fans forum Lennox was talking about the money issues etc., one of the things that came out was that cash was available for players at the start of the season but this has now been put aside for a legal matter. What a lot of people got out of this,(and this matched the rumours that have been circulating) was that sponsorship money for this season hasn't been paid by one of the main sponsors. This sponsor was brought in by a previous manager and seemingly they have wanted out of the contract since he's no longer with the club. They now believe they have valid reason to pull out of the contract and have done so.

**Student Mullet** · 27/10/2006, 2:39 PM

Here's what it says in the document the clubs voted on:

Introduce wage controls - Spending to a maximum of 65% of turnover costs to be monitored and enforced in Club Licensing 07;

My reading of that says there will be wage control next year but I could be wrong.

**drinkfeckarse** · 27/10/2006, 2:44 PM

Originally Posted by Galway Harps

There seems to be a lot of confusion over when this is coming in. The FAI document says it comes in in Licensing 07- which I assumed meant it was coming in next year, but could on reflection mean that it comes in with the licensing applications for the 2008 season.

Both go hand in hand.