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Cork City FC
stones_off
(2,815 Posts)
Posted:
14-Aug-2008 09:30
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Cork City considering examinership
Thursday, 14 August 2008 09:13
RTÉ News has reported that Cork City Football Club are considering an application to the High Court for examinership in order to prevent the club from folding.
The current FAI Cup holders are believed to have debts of more than €800,000. One of the best supported clubs in the League of Ireland, the club requires immediate investment if it is to continue to trade.
RTÉ soccer correspondent Tony O`Donoghue reports:
FAI Cup holders Cork City face a daunting challenge over the coming days, the club requiring immediate investment if it is to survive.
Less than two weeks ago the Cork players failed to get paid on time ahead of a top of the table clash with Bohemians.
However. it is understood that all the current staff are now paid up to date.
The club are now preparing an application to the High Court for examinership. Former Chairman Brian Lennox, who sold Cork City to venture capital firm Arkaga in 2007, resigned as a director last night.
Cork are one of a number of League of Ireland clubs to experience severe financial difficulties this season, among them Galway United, Sligo Rovers and Cobh Ramblers, and the fate of several other Premier and First Division clubs hangs in the balance.
The situation is a considerable cause of concern to the FAI, who took over the running of the League in 2007. A decision on Cork`s future is likely in the next 48 hours.
lovely hurler
(1,625 Posts)
Posted:
14-Aug-2008 09:39
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This is some joke. These plonkers who clearly deceived people in Cork, and aren`t very astute businessmen should be legally challenged for what they have done.
What is with Soccer people in Ireland and their complete lack of nous when it comes to money.
May not mean anything to many people here, but i know an awful lot of people who really love going to watch City and for the 2nd City to be without a team would show Delany and his muppets up for what they really are.
Nobody seems to learn from past mistakes. How many Shelbournes do we need before guys cop the fcuk on.
Deise Vu
(1,658 Posts)
Posted:
14-Aug-2008 09:50
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Together with being well supported Cork has had good European runs, has sold players for decent money (€1M for Roy O`Donovan if you can believe the papers ) and presumably decent sponsorsips and the usual lotto draws. Yet they still can`t get by.
Do these clubs all attend the Ridsdale School of Financial Mal-administration?
Drogheda, who will be the next big financial implosion, should have beaten Dynamo Kiev who beat Spartak Moscow 4-1 away last night in the final eliminator for the CL group stages. Shelbourne, or was it St. Pats, gave a good account of themselves against Coruna a few years ago. This is the Holy Grail of financial riches that these clubs think is within their grasp.
Unfortunately the penny doesn`t seemed to have drop ped that number one, it is extraordinarily difficult and number two, in the unlikely event they do get there, there will be no League of Ireland because finances will be so unbalanced in their favour it will become an even bigger joke.
lovely hurler
(1,625 Posts)
Posted:
14-Aug-2008 09:55
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An All-Ireland league is the only thing that MIGHT work. Keep some of the good players at home, rather than going off to arsenal for two years as a young fella and then end up with Darlington or some one, madness.
scalder
(3,637 Posts)
Posted:
14-Aug-2008 10:18
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Good news, crush the virus that is soccer! On a more serious note, I suspect the FAI are pursing a strategy of burning down many of the clubs so they can restructure the league to their liking.
South Limerick Referee
(16,613 Posts)
Posted:
14-Aug-2008 11:50
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If the FAI were to burn down clubs, I dont think Cork City would be one of them, because they have a decent following and they seem to be able to produce decent players continually. They just need to spend less on wages
The problem with the League of Ireland in general is that they are paying wages beyond their means.
Originally posted by scalder:
Good news, crush the virus that is soccer! On a more serious note, I suspect the FAI are pursing a strategy of burning down many of the clubs so they can restructure the league to their liking.
tributary
(4,887 Posts)
Posted:
14-Aug-2008 11:51
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Originally posted by lovely hurler:
An All-Ireland league is the only thing that MIGHT work. Keep some of the good players at home, rather than going off to arsenal for two years as a young fella and then end up with Darlington or some one, madness.
doubt it somehow . t
scalder
(3,637 Posts)
Posted:
14-Aug-2008 13:47
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Maybe SLR but are they too strong and the FAI under Delaney has been about centralising power, maybe like Maggie Thatcher with the unions they want to break the dominance of these clubs so they can be moulded to fit their vision. I’m sure they would want a team in Cork but would they prefer if it were rebranded as a regional team, al la Munster Rugby? Maybe I’m wrong but you get the feeling that there is an underlying plan in the FAI.
SHANNONSIDER**
(8,499 Posts)
Posted:
14-Aug-2008 13:54
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Did these jokers not recently put Joe Gamble on a new contract of 3 or 4 grand a week? If you ask me the whole league are living in dreamland and are trading recklessly. Bohs are losing 30k+ a week, Sligo are ready to fold, Limerick are skint as usual, Kilkenny are gone, Rovers needed their stadium built for them by the government, Shels outstripped their supply lines and ran out of gas.....
treaty_exile
(829 Posts)
Posted:
14-Aug-2008 14:03
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Originally posted by scalder:
Maybe SLR but are they too strong and the FAI under Delaney has been about centralising power, maybe like Maggie Thatcher with the unions they want to break the dominance of these clubs so they can be moulded to fit their vision. I’m sure they would want a team in Cork but would they prefer if it were rebranded as a regional team, al la Munster Rugby? Maybe I’m wrong but you get the feeling that there is an underlying plan in the FAI.
jaysus scalder, i never thought i`d hear the words underlying plan and FAI in the same sentence.
can`t see how city are too strong, they always complain about being at a geographical disadvantage, farther to travel, isolated from officialdom, referees not up to scratch, etc.
gate receipts at turners cross must be comparable to anything the dublin clubs are generating, capacity is fine and there`s a hard core of reliable support in the shed.
if they`re struggling financially, having done far better in the transfer market than their competitors, someone really took their eye off the ball.
lovely hurler
(1,625 Posts)
Posted:
14-Aug-2008 14:15
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Your spot on treat_exile.
Wouldn`t be surprised if there is some big story going to come out of this.
Ciaran careys hurling army
(1,351 Posts)
Posted:
14-Aug-2008 16:26
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Originally posted by SHANNONSIDER**:
Did these jokers not recently put Joe Gamble on a new contract of 3 or 4 grand a week? If you ask me the whole league are living in dreamland and are trading recklessly. Bohs are losing 30k+ a week, Sligo are ready to fold, Limerick are skint as usual, Kilkenny are gone, Rovers needed their stadium built for them by the government, Shels outstripped their supply lines and ran out of gas.....
I like the mental image of Guderian/Von Paulus running Shels across the Steppes
SHANNONSIDER**
(8,499 Posts)
Posted:
14-Aug-2008 16:32
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I do a grave injustice to the memory of the Panzer Korps by comparing them to Shels, CCHA. The only Battle of the Bulge in the Eircom League is that fella who got sacked for being too fat.
I see Kildare County players have now issued an ultimatum to their club to pay them what their owed or they go on strike. What has brought about this current `bank run` in the Eircom League, has the credit crunch affected them so much?
lovely hurler
(1,625 Posts)
Posted:
14-Aug-2008 16:51
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I presume like everyone else that owes money to a bank they are been hounded morning, noon and night to pay it back.
stones_off
(2,815 Posts)
Posted:
14-Aug-2008 17:04
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Originally posted by SHANNONSIDER**:
The only Battle of the Bulge in the Eircom League is that fella who got sacked for being too fat.
That cost Pat`s €200,000.
The fact that anybody in the eircom league is getting €3,250 a week, shows how the muppets running the clubs are in dream land.
The Eircom League`s biggest problem is the players aren`t good enough to attract supporters in.
South Limerick Referee
(16,613 Posts)
Posted:
14-Aug-2008 17:37
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No.
The eircom leagues biggest problem is that the Irish race have no interest in following a team week in week out.
You will always have 80,000 at a Heineken cup final that Munster play in. Celtic League is a different story
In GAA, you will always have 80,000 at an All Ireland final. Yet there were only 40,000 present for the Waterford vs Wexford and Cork vs Clare games.
Irish people want the big knockout game, they dont want the week in week out die hardness. Its why Champions League formats would never work in GAA. You wouldnt have the crowds, and without the crowds you wouldnt have the atmospheres. They would be glorified challenge games
Originally posted by stones_off:
That cost Pat`s €200,000.
The fact that anybody in the eircom league is getting €3,250 a week, shows how the muppets running the clubs are in dream land.
The Eircom League`s biggest problem is the players aren`t good enough to attract supporters in.
thebouncer12
(181 Posts)
Posted:
14-Aug-2008 19:54
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what kind of money are players in Ireland getting?
Somebody mentioned Gamble getting 3 or 4 grand a week, i presume this is the top end of things.
SHANNONSIDER**
(8,499 Posts)
Posted:
14-Aug-2008 19:57
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I`d say that`s about the top end of the scale alright. Seems like alot of money to me for a league that attracts so few fans.
a langer boy
(2,578 Posts)
Posted:
14-Aug-2008 23:38
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This is a crazy situation, if the best supported team in the Eircom League are bankrupt then what hope for any one else.
I have asked this question before. who or what are Arkaga? Have they the guts to come out in public and say who they are and what is their real interest in Cork City!
Why do City fans allow a situation where no one knows who owns the club? Is this the only soccer club in the world outside of Russia where the owners remain a secret? Does Tony O`Donoghue know? Does the FAI know? do the FAI rules permit this?
Wage levels of 1000 euro per week and far more are quite common, yet CC have done well out of transfers over the past few years, it is presumed all this money has been used to keep the club going.
Like so many other Cork LoI clubs in the past, the club has no real assets and I suppose a new company will now be set up to continue on.
I feel sorry for the players ie the employees as it is a human tragedy, I feel sorry for the volunteers who give loads of their time to the club, the loyal supporters who turn out in great numbers.
Cork City have tried to do things well, good structure, great atmosphere at games thanks to the Shed etc and many youngsters who turn up in Thurles and Croker to support Cork also. The best match programme of any code can be found for their home games.
All these people are owed an explanation by the owners whoever they might be, it is the least that can be expected if they want the people of Cork to rally around and save the club.
Perhaps the time has come to set up a cooperative share structure to maintain the club for Cork?????
long danny
(4,403 Posts)
Posted:
15-Aug-2008 00:12
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Does anyone really give a fcuk? Fans obviously do not as the airports will be full of them going off to support `their` teams in the premiership or wherever.
HitemHardHardHard
(1,498 Posts)
Posted:
15-Aug-2008 10:13
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Summer soccer was another genius move....
even at local level it`s suffering compared to the GAA in clare. Young lads just don`t have the same value on it.
It will go the way of club rugby, back to being an amatuer sport, with maybe a token payment for the players by comparision with todays failing situation
Originally posted by long danny:
Does anyone really give a fcuk? Fans obviously do not as the airports will be full of them going off to support `their` teams in the premiership or wherever.
sam
(8,946 Posts)
Posted:
15-Aug-2008 13:32
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Originally posted by SHANNONSIDER**:
Did these jokers not recently put Joe Gamble on a new contract of 3 or 4 grand a week? If you ask me the whole league are living in dreamland and are trading recklessly. Bohs are losing 30k+ a week, Sligo are ready to fold, Limerick are skint as usual, Kilkenny are gone, Rovers needed their stadium built for them by the government, Shels outstripped their supply lines and ran out of gas.....
I`m no Alan Sugar but the principle of paying more in wages then you`re bringing in in revenue seems to be a fairly glaringly bad way to run a business. These clubs just can`t afford to be full time. When will the penny ever drop ? ... very hard to have any sympathy really. idiots.
lovely hurler
(1,625 Posts)
Posted:
15-Aug-2008 13:45
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As someone who used to frequent Turners Cross quite alot in days gone by, all this sadens me, but doesn`t surprise me.
Some of the players in Crok, and elsewhere i believe, are a awy ahead of themselves and where they are in footballing terms.
There are guys that were playing for City in the last 2 years who are now playing MSL. I mean come on, if the league was genuinely good then these guys wouldn`t be becoming amateurs overnight.
I see alot of the City players out quite a bit, hardly a professional way of doing things either. These players (and managers ) promise alot, but fail to deliever for the most part. I know one guy who used to play at this level and he said its a joke the bitching and stuff that goes on. Mostly because of enflated ego`s. They also only train once a day. If they really wanted to up the standard they would train twice a day at least 4 times a week.
The people running the show are being fooled into "promises" of success. But they must really be fools to believe that any LOI team can make the CL group stages. A couple of years ago the stadard was rising, but any decent player left. The rest are still there, why? because they aren`t good enough to play Championship football, not to mind in the champions League.
Any businessman with any sense would run a mile from Cork City, unless it was a labour of love.
a langer boy
(2,578 Posts)
Posted:
15-Aug-2008 18:32
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You are probably correct there lovely hurler, several of the present team have "notions" about themselves! One particular chap was on 1500 per week for doing absolutely nothing for 6 months until he finally left. That is unsustainable in anybodys language!
There are rumours that Owen O`Callaghan is interested but it would have to be a labour of love as its vodoo economics in the absence of reality by the players! He will have to become a sugar daddy!
3000/4000 home gates while they may be large relative to everyone else cannot sustain the reported wage levels in the club.
It would be a pity if it goes under, especially for the youngsters who do support them, but any rescue attempt will have to base itself on good economics to survive and I wonder if all employed by the club can see this!
I still cannot figure out how Hibs went under in the mid seventies with the gates they had!!!
Pog Mahone
(9,387 Posts)
Posted:
15-Aug-2008 18:38
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How many Cork clubs have gone belly-up in financial difficulties, to be replaced by a new club rising phoenix like from the ashes.
Cork Hibs, Cork Celtic, Cork United, Cork City, am I missing any?
They must be running out of names for the next incarnation.
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