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Cork City Foras Co-Op Football Club
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Jack Charlton
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Points: 9816 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 18 Nov 2022 at 10:23am
Originally posted by thebronze14 thebronze14 wrote:

Originally posted by 9fingers 9fingers wrote:

Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 

Yeah this will all end in tears I reckon. Ye have a good thing going down there. Why throw it away?
Simply put, we see ourselves as a big club, should be fighting for titles. IRish football is boring if you're just plodding along midtable and playing Irish teams 4 times a year. Go big and aim for Europe or go home.
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Jack Charlton
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Originally posted by 9fingers 9fingers wrote:

Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 

Yeah this will all end in tears I reckon. Ye have a good thing going down there. Why throw it away?
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Jack Charlton
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Points: 9816 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 17 Nov 2022 at 8:53pm
Originally posted by AnCearrbhach AnCearrbhach wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by 9fingers 9fingers wrote:

Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 
Hard to know, we were battling Dundalk for years with a budget of about €1.5m, have salaries progressed that much since then? I'd be happy with that level of a team again, fan ownership can't sustain that level.

Real Madrid will be sad to hear that.

Fan ownership works in many places but the current board seem to only care about ending it and the previous board made some absolutely shocking financial decisions. Added to that the decision of 2/3s of the fans to hand over an non time-limited option to buy without much information behind it after an essentially filibustered board Q&A session would leave you to believe that the issue may be Cork City fan ownership as opposed to fan ownership itself.  
Yeah unfortunately we're not going to be able to model ourselves on what works for Real Madrid or the Green Bay Packers.

I take it you're not in the 2/3 then, but we went with the majority.
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Jack Charlton
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Originally posted by ShamtheRam ShamtheRam wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by ShamtheRam ShamtheRam wrote:

The lad purchasing doesn't seem to have any income? He's retired so is he banking on getting to Europe to make money?
Sold his company for €100m a few years back so he's basically a sugardaddy owner. There's no money to be made in LOI so the question is how long he's happy to take losses on it
Whats the current operating debt for the club? Obviously any takeover, he'd be buying that too.

Obviously he must have his finger in a few pots still to gain some income but still, its worth asking the question, especially seeing as he's on his own.
Not sure what the current debt is, been a messy year with Grovemore involved so I'm not sure the lay of the land currently. Hopefully all becomes clear on 4th Dec.
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Paul McGrath
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Originally posted by Shedite Shedite wrote:

Originally posted by ShamtheRam ShamtheRam wrote:

The lad purchasing doesn't seem to have any income? He's retired so is he banking on getting to Europe to make money?
Sold his company for €100m a few years back so he's basically a sugardaddy owner. There's no money to be made in LOI so the question is how long he's happy to take losses on it
Whats the current operating debt for the club? Obviously any takeover, he'd be buying that too.

Obviously he must have his finger in a few pots still to gain some income but still, its worth asking the question, especially seeing as he's on his own.
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Liam Brady
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Originally posted by Shedite Shedite wrote:

Originally posted by 9fingers 9fingers wrote:

Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 
Hard to know, we were battling Dundalk for years with a budget of about €1.5m, have salaries progressed that much since then? I'd be happy with that level of a team again, fan ownership can't sustain that level.

Real Madrid will be sad to hear that.

Fan ownership works in many places but the current board seem to only care about ending it and the previous board made some absolutely shocking financial decisions. Added to that the decision of 2/3s of the fans to hand over an non time-limited option to buy without much information behind it after an essentially filibustered board Q&A session would leave you to believe that the issue may be Cork City fan ownership as opposed to fan ownership itself.  
Aithníonn ciaróg ciaróg eile.
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Jack Charlton
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Originally posted by 9fingers 9fingers wrote:

Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 
Hard to know, we were battling Dundalk for years with a budget of about €1.5m, have salaries progressed that much since then? I'd be happy with that level of a team again, fan ownership can't sustain that level.
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Jack Charlton
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Originally posted by ShamtheRam ShamtheRam wrote:

The lad purchasing doesn't seem to have any income? He's retired so is he banking on getting to Europe to make money?
Sold his company for €100m a few years back so he's basically a sugardaddy owner. There's no money to be made in LOI so the question is how long he's happy to take losses on it
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Paul McGrath
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The lad purchasing doesn't seem to have any income? He's retired so is he banking on getting to Europe to make money?
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Paul McGrath
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Originally posted by Shedite Shedite wrote:

Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
This takeover certainly won’t have you challenging with Rovers & Derry, the finances simply aren’t there. You’ll go from fighting relegation to hoping for a euro spot which is really a 3 position swing, all for selling off your club again. 
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Kevin Kilbane
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Meeting on 4 December for members to vote on the takeover.I'll go with a open mind,see what he has to say before deciding.
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Jack Charlton
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Yeah read that this morning. I'll listen to his plans anyway before deciding which way to vote.

Main question for me is how he sees the finances work, is he willing to underwrite the €700k-€1m shortfall every year it'd take to be competitive without being in Europe. At the moment we've no way of bridging that without getting lucky with a signing.

I love being a fan owner but realise that the finances mean we'll struggle to ever be competitive again without proper financial backing. Do I like being a fan owner of a lower half team or be a fan of a title challenger, tough question
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Originally posted by ShamtheRam ShamtheRam wrote:

The board that don't want to be the board are looking to sell Cork City again I see.


Not sure how this will go down with the Cork fans with yer man being a Dub.


Cork City are nearing a takeover after their board of management provisionally accepted an offer from Dublin businessman Dermot Usher to buy 100% of the club.

Usher led the Irish bathroom brand SONAS Bathrooms over a 30-year period as a family business, originally founded by his father John, and has previously attempted to be part of takeovers at Dundalk and Bray Wanderers.
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Paul McGrath
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The board that don't want to be the board are looking to sell Cork City again I see.
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Cool 



How Cork City got back to the Promised Land. John Fallon traces the Rebel Army's journey to the top division. GOING UP: Cork City celebrate getting promoted to the Premier Division last night. Sat ...
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Time to change the title of this thread, no?
Flying so high, trying to remember
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Driving through London town, to cry you a song
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Paul McGrath
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Originally posted by kevincronin2000 kevincronin2000 wrote:

Originally posted by Jack City Jack City wrote:

Great win away to knock Sligo out of the cup, where the hell did that come from after being so crap all season.
Tbf we are the best side I've ever seen that are second from the bottom of the first division. There's plenty of points dropped down to individual errors also this season. Anyway I didn't see this result coming either great to see the magic of the cup is still alive. 
Good grief. That's some statement. 


Edited by ShamtheRam - 26 Jul 2021 at 8:55am
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Jack Charlton
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Originally posted by Jack City Jack City wrote:

Great win away to knock Sligo out of the cup, where the hell did that come from after being so crap all season.
Tbf we are the best side I've ever seen that are second from the bottom of the first division. There's plenty of points dropped down to individual errors also this season. Anyway I didn't see this result coming either great to see the magic of the cup is still alive. 
time is the stuff that life is made of, don't waste it.
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