Official Takeover Thread

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Re: Official Takeover Thread

Postby dundalkfc1903 » Mon Feb 05, 2018 11:33 am

Ah Where's all the blind optimism gone?

I'd be interested in the source of the finance used to purchase the club and run the first team. If Peak6 have provided the loan, what is the rate of interest and what are the repayment terms and conditions. Did the consortium invest any personal funds in the purchase. Is everyone an equal shareholder. Or do we have a couple of major players.
How many people are actually in the consortium?



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Re: Official Takeover Thread

Postby Townfan7 » Mon Feb 05, 2018 11:37 am

I felt last nights gathering went well & I'm somewhat surprised at some of the comments on here. The new owners made it abundantly clear, its getting it right on the pitch first & then the infrastructure can be looked at. It's a fair point, why have a 6k seated stadium & a poor team on the park ? Also said was Oriel will be brought up to UEFA standards for having games here in Dundalk. I feel patients is required all around, give the new owners a chance & lets see what happens. Remember, also said was these people are here for the long term, so it's going to take time to get where they want to be.

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Re: Official Takeover Thread

Postby White Horse » Mon Feb 05, 2018 11:41 am

I think the disappointment on the stadium is due to the impression that was created over the last year. The indication from the previous owners was that they were looking seriously at redeveloping Oriel. As far as the new owners are concerned, that is bottom of their list.

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Re: Official Takeover Thread

Postby mike » Mon Feb 05, 2018 11:49 am

White Horse wrote:I think the disappointment on the stadium is due to the impression that was created over the last year. The indication from the previous owners was that they were looking seriously at redeveloping Oriel. As far as the new owners are concerned, that is bottom of their list.


I think this is a very good point, there was definitely talk previously that the former owners clearly recognised the need to make improvements and that it would be something they would look at when the lease was sorted.

All we hear now is gradual improvements, away end will be looked at, temp stand for some euro matches, puddle questions, we are standing still in all of this while almost every other club is progressing. Cork had photos last week of permanent toilets being built in their away end.

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Re: Official Takeover Thread

Postby Louth4sam » Mon Feb 05, 2018 12:03 pm

My major worry is that we end up in ten/fifteen years time with nothing but memories to show for a couple of decades of success.

If we were to have a developed ground then it would have been all worthwhile when it eventually all goes wrong.
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Re: Official Takeover Thread

Postby Ezeikial » Mon Feb 05, 2018 12:33 pm

Conroy wrote:First all of, fair play to the group for coming and meeting the fans, it's there club now and they had no need to do.



Jordan heart seems to be in the right place and he seems like a nice bloke with a good business background. The others we know nothing of, nor have we s right to know them.



Conroy, these two comments from your post are worrying. Do you really think of supporters simply as consumers or customers who have no stake in the club?

This consortium may be the legal owners, but the day we accept that supporters are being granted a privilege by being addressed by owners is the start of a downward slide.

Fans and volunteers have been the lifeblood of this club
Ezeikial posts personal opinions and observations from this supporters perspective.

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Re: Official Takeover Thread

Postby Johnnybegood33 » Mon Feb 05, 2018 12:58 pm

From where we were , before these guys arrived.
6 to 7 million Euro money.
Qualifying for Europe every year.
Good squad , qualifying for Champions League / Europa.
Dundalk people in charge.
Best manager.
Strong talk of a new Stadium , with help from FAI , Louth Co. Co. etc.
And they are not building a Stadium with all there billions.
S. Kenny and everybody else has condemned that archaic excuse for a ground , so there’s fk all progress there.

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Re: Official Takeover Thread

Postby mike » Mon Feb 05, 2018 1:17 pm

Johnnybegood33 wrote:From where we were , before these guys arrived.
6 to 7 million Euro money.
Qualifying for Europe every year.
Good squad , qualifying for Champions League / Europa.
Dundalk people in charge.
Best manager.
Strong talk of a new Stadium , with help from FAI , Louth Co. Co. etc.
And they are not building a Stadium with all there billions.
S. Kenny and everybody else has condemned that archaic excuse for a ground , so there’s fk all progress there.


Agree with all of above, but always need to note, less than half of any euro earnings will be left after bonus payments, travel, hotels, rent and a host of other expenses.

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Re: Official Takeover Thread

Postby Ezeikial » Mon Feb 05, 2018 1:36 pm

mike wrote:Agree with all of above, but always need to note, less than half of any euro earnings will be left after bonus payments, travel, hotels, rent and a host of other expenses.


This is a consistent but incorrect narrative that suggests costs of euro 3m to 3.5 m. Probably fueled by the 2016 profit figures filed with CRO - the 2017 figures are not yet published and shouldl also show receivables from 2016 that add significantly to the bottom line.

In any case it becomes irrelevant at this point with new owners who will decide on their level of spend
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Re: Official Takeover Thread

Postby Ezeikial » Mon Feb 05, 2018 1:41 pm

mike wrote:Agree with all of above, but always need to note, less than half of any euro earnings will be left after bonus payments, travel, hotels, rent and a host of other expenses.


This is a consistent but incorrect narrative that suggests costs of euro 3m to 3.5 m. Probably fueled by the 2016 profit figures filed with CRO - the 2017 figures are not yet published and shouldl also show receivables from 2016 that add significantly to the bottom line.

In any case it becomes irrelevant at this point with new owners who will decide on their level of spend
Ezeikial posts personal opinions and observations from this supporters perspective.

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Re: Official Takeover Thread

Postby niall_hearty2000 » Mon Feb 05, 2018 2:18 pm

dundalkfc1903 wrote:Ah Where's all the blind optimism gone?

Got swallowed up in the puddle shed side!!
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Re: Official Takeover Thread

Postby mike » Mon Feb 05, 2018 2:23 pm

I think another 1m was spent on the council fees / lease securing and the new pitch, but you are right in your point that all of this is irrelevant now with new owners and how they spend it going foward.

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Re: Official Takeover Thread

Postby Conroy » Mon Feb 05, 2018 6:00 pm

Ezeikial wrote:
Conroy wrote:First all of, fair play to the group for coming and meeting the fans, it's there club now and they had no need to do.



Jordan heart seems to be in the right place and he seems like a nice bloke with a good business background. The others we know nothing of, nor have we s right to know them.



Conroy, these two comments from your post are worrying. Do you really think of supporters simply as consumers or customers who have no stake in the club?

This consortium may be the legal owners, but the day we accept that supporters are being granted a privilege by being addressed by owners is the start of a downward slide.

Fans and volunteers have been the lifeblood of this club


It is indeed worrying. But it's the truth. The group of owners didn't have to arrange the meet and greet nor did they have to make themselves public. But they chose to.

Of course fans and volunteers are the lifeblood of the club as you say and we will be here long after this group leaves. However right now, no Dundalk fan has a say in what direction the club takes (previous owner's had the same situation but had social connections in town). There's isn't a fan group/trust in place to put forward suggestions to the club of the general consensus of the support or to start a fund to out up the pieces should the worst happen.

I am pleased the lads didn't come out with some pie in the sky stuff last night, new models of a revamped Oriel Park and the likes.

I'll reserve judgement untill that damn puddle is covered, if they can sort that before Sunday I might have a more optimistic view of the take over hah

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Re: Official Takeover Thread

Postby mike » Mon Feb 05, 2018 9:13 pm

I wasn't exactly expecting to hear immediate plans to build a new stand especially on their first meeting, and we have all heard previous ambitious plans from other clubs that never got off the ground, so I`m fine with that.

I just think it was a missed opportunity to allay some fears by not making even a comment like 'we understand the supporter facilities are sub standard in a lot of areas and in need of improvement in a lot of others, and we will look at all of this'

As mentioned before they did comment on the away area, the possibility of temporary improvements to host euro games, but its obviously clear they are not committing to anything more than fix ups.

So on fix ups, get a roof over the home end town side of the stand, build a terrace behind the carrick goal and roof it for away fans, clean up the awful looking town end and modernise the stand, better lighting and sound all over the ground, build proper toilets for the ground, have more food options and staff the merchandise shop from say Thursday to Saturday and not have to rely on the office staff to come out of their day job to sell things.

All of the above is affordable, it won't all pass for European games other than 2 rounds, but it will make the old ground a little more comfortable for the 20 + times most of us on here will attend matches each season and into the years ahead.

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Re: Official Takeover Thread

Postby thecaptain » Mon Feb 05, 2018 9:35 pm

Ezeikial wrote:
mike wrote:Agree with all of above, but always need to note, less than half of any euro earnings will be left after bonus payments, travel, hotels, rent and a host of other expenses.


This is a consistent but incorrect narrative that suggests costs of euro 3m to 3.5 m. Probably fueled by the 2016 profit figures filed with CRO - the 2017 figures are not yet published and shouldl also show receivables from 2016 that add significantly to the bottom line.

In any case it becomes irrelevant at this point with new owners who will decide on their level of spend


If it's incorrect then what's in the bank if you have the answers/ figures?

It was outright said in interviews by MC and others that the take home after the EL campaign was around 3-3.5m after costs/ expenditure/ getting the lease and the YDC back and I'd take him at his word. Martin is as honest as the day is long and if you're saying otherwise where's your figures to back it up? With regards to the books being filed: Earnings before interest, taxes, depreciation and amortization and as a fella who was insitu and are in the business world, you of course know that ;). What we have in the bank/ balance sheet already made us an attractive proposition to the consortium but on the flip side it would have jacked the price up that they paid the lads, whatever that was.


My tuppence worth on the meeting, went pretty much as I thought and as I said a couple of pages/ weeks ago with regard to the infrastructure getting improved. CBA typing again so copied this from my post of foot.ie:

This season the prize money has nearly doubled from UEFA. Cork will bank approx 800k between the CL tie and parachuting into the EL round then if they lose the CL qualifier. So lose both ties and you're still around 800k better off in the bank, go a round or two further in either the CL or the EL and you're quids in. It's harder to get to the group stages for the smaller league like ours so UEFA pumped the money up as a way of making it up to the smaller leagues to keep them sweet.

It's not as if the stand in Oriel was going to be demolished the day after they took over, as much as some were demanding it, that's not how the world works. Capital grant application for the next round isn't until nearly this time next year. As I thought would happen remedial stuff will get done this season; the puddle on the way to the shed, they said they'd see what can be done in the away end and are looking at temp stands for our EL qualifiers if needed so we can play them in Oriel.

A competitive team on the pitch leads to european football, european football leads to quids in from UEFA as mentioned above which, along with capital sports grants, can then be put into sustainable development of facilities. Tbf, I think it's fairly realistic approach from the new owners.
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