New Owners?

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Philistine
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Re: New Owners?

Post by Philistine »

Would say it's a bit of all 3 to be honest
Shedtillwedie
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Re: New Owners?

Post by Shedtillwedie »

For the record, the European money has 100% been paid to the club. This was paid in September to all Irish clubs. This money was used to keep the club afloat until BA came in and inherited a holy sh!tshow. The he people responsible for the governance of the club should be banned from being directors of an Irish company. Mismanagement of the highest order.

And the accounts are just a view of world. People should stop thinking that "Oh, the accounts are the accounts". Every organisation has skeletons stored away - bad ones in this case. The FAI are a prime example of why you shouldn't just rely on "accounts". Plenty of accounting aerobics took place seemingly. Very poor
Richie87
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Re: New Owners?

Post by Richie87 »

Yeah James Rogers confirmed on the PressBox that the European money 550k, was paid in last September. The early rounds are paid in before the Group stages start.
Thesquareend
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Re: New Owners?

Post by Thesquareend »

Philistine wrote: Sat Mar 16, 2024 1:50 pm Article is correct to a point but neglects to mention Euro money (500 grand?) is still to come into the accounts. This is why it's sensationalist , 250 doesn't look as bad as 750. Factor in the two investors as well and I'd say the debt has been safely cleared, no mention of Betregal owing us money too .

Interesting to read the agent of an ex player has sought legal advice over unpaid Euro bonuses....
[/quote

Very sensationalist indeed.Bottom line here is the Argus wasnt wrong.I never thought they were.
Philistine
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Re: New Owners?

Post by Philistine »

Thesquareend wrote: Fri Mar 22, 2024 7:14 am
Philistine wrote: Sat Mar 16, 2024 1:50 pm Article is correct to a point but neglects to mention Euro money (500 grand?) is still to come into the accounts. This is why it's sensationalist , 250 doesn't look as bad as 750. Factor in the two investors as well and I'd say the debt has been safely cleared, no mention of Betregal owing us money too .

Interesting to read the agent of an ex player has sought legal advice over unpaid Euro bonuses....


Very sensationalist indeed.Bottom line here is the Argus wasnt wrong.I never thought they were.
Stand corrected if true, found it odd the money would be paid that early as it never happened before but only those with the accounts will know for sure. But we are NOT facing a fecking points deduction, mark my words on that one!
Richie87
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Re: New Owners?

Post by Richie87 »

Distribution of the 23/24 Champions league, Europa League and Conference league explained here

https://editorial.uefa.com/resources/02 ... _35_en.pdf
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mike
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Re: New Owners?

Post by mike »

I think it works out at 550k for us and for any club playing in two rounds in ECL. If we had got past KA, it would have risen to around 750-800k.

The challenge we might have though is, did the previous owners take out a bridging loan on the strength of some or all of this money due to be paid, that was a rumour.

If not, and hopefully they didn't, it will be a welcome addition when it arrives, however I am not sure.
Philistine
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Re: New Owners?

Post by Philistine »

mike wrote: Fri Mar 22, 2024 8:29 pm I think it works out at 550k for us and for any club playing in two rounds in ECL. If we had got past KA, it would have risen to around 750-800k.

The challenge we might have though is, did the previous owners take out a bridging loan on the strength of some or all of this money due to be paid, that was a rumour.

If not, and hopefully they didn't, it will be a welcome addition when it arrives, however I am not sure.
Really should have gotten past KA on paper as well
Dundalk10
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Re: New Owners?

Post by Dundalk10 »

Richie87 wrote: Thu Mar 21, 2024 1:04 pm Yeah James Rogers confirmed on the PressBox that the European money 550k, was paid in last September. The early rounds are paid in before the Group stages start.
That is not good news. Given the state financially the club was in in mid September, you'd imagine all that money was swallowed up straight away and whatever was left used to get the club to the end of the season.

If we're in 750k debt after all that, then maybe things really are as bad as some people around town are saying.
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mike
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Re: New Owners?

Post by mike »

Dundalk10 wrote: Fri Mar 22, 2024 10:22 pm
Richie87 wrote: Thu Mar 21, 2024 1:04 pm Yeah James Rogers confirmed on the PressBox that the European money 550k, was paid in last September. The early rounds are paid in before the Group stages start.
That is not good news. Given the state financially the club was in in mid September, you'd imagine all that money was swallowed up straight away and whatever was left used to get the club to the end of the season.

If we're in 750k debt after all that, then maybe things really are as bad as some people around town are saying.
And more depressingly, that is after 2 x EL group stages, first one was over 6m, second one was 3.1m or so, factor in euro seasons 17, 18, 19, 21 + 23, it prob rises to just under 15m, and what do we have to show for it all, increasing league titles from 9 to 14, and cups from 9 to 12, a new pitch, YDC fit-out, council fees paid, agents paid, huge wages paid, bonus payments etc. Kenny was fond of his charter flights too in 2016 and possibly 2017.

Absolutely nothing to show for it now !

I remember thinking during SK era I said to a few at HT, I would seriously have taken a 'gap year' in terms of competing if it meant we could put big sums aside for the ground, but sure the usual complicating ownership etc, conversation didn't last too long.

Pity the way it worked out, and at the same time LOI football is booming all over the country, not saying we are doomed, far from it, to get over 2k home fans when you are bottom of the table is a good core base (Waterford game) but you would think if we don't save ourselves this season, we could be down in the FD for a good few years.
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Re: New Owners?

Post by Richie87 »

A club that has grass banking behind one of the goals, showed it was mismanaged during the golden era. Sligo Rovers had a good era under Paul Cook and used that time to invest in a new ground.
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mike
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Re: New Owners?

Post by mike »

Sligo used almost all of the CL qualifying money, poss only 1 round too, in 2013 to partly fund that open seating area behind the goal.

I was out in town last night, a lot seem to be disputing the debt saying no way was can be 750k, meaning that high and should have been money left. Seems someone not telling the truth.
Last edited by mike on Sun Mar 24, 2024 7:45 pm, edited 1 time in total.
Philistine
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Re: New Owners?

Post by Philistine »

mike wrote: Sun Mar 24, 2024 4:12 pm Sligo used almost all of the CL qualifying money, poss only 1 round too, in 2013 to partly fund that open seating area behind the goal.

I was out in town last night, a lot seem to be disputing the debt saying no was can be 750k, meaning that high and should have been money left. Seems someone not telling the truth.
Highly unlikely to be 750k, assumptions being presented as fact is where all these rumours come from.

Wouldn't make sense to sign so many new players, hire Peter Halpin, let Martin Connolly go etc if the club was that deep in the hole?
Dundalk10
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Re: New Owners?

Post by Dundalk10 »

mike wrote: Sun Mar 24, 2024 4:12 pm Sligo used almost all of the CL qualifying money, poss only 1 round too, in 2013 to partly fund that open seating area behind the goal.

I was out in town last night, a lot seem to be disputing the debt saying no was can be 750k, meaning that high and should have been money left. Seems someone not telling the truth.
Worth reading Roger's piece on the 2022 accounts again when a loss of 500k was recorded.

https://m.independent.ie/regionals/lout ... 73866.html

Given the what happened with player's wages last September, I think 750k is a believable figure.
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Re: New Owners?

Post by Pepsi »

Philistine wrote: Sun Mar 24, 2024 5:24 pm
mike wrote: Sun Mar 24, 2024 4:12 pm Sligo used almost all of the CL qualifying money, poss only 1 round too, in 2013 to partly fund that open seating area behind the goal.

I was out in town last night, a lot seem to be disputing the debt saying no was can be 750k, meaning that high and should have been money left. Seems someone not telling the truth.
Highly unlikely to be 750k, assumptions being presented as fact is where all these rumours come from.

Wouldn't make sense to sign so many new players, hire Peter Halpin, let Martin Connolly go etc if the club was that deep in the hole?
1. Without players .... in BA position you have no chance but to sign players, to make a return on investment or to make a go of it.
2. Hiring Peter Halpin, who has a successful record in business to replace Martin Connolly .... again makes sense if you are looking to secure your investment. If the €750k loss and disputes about bonuses are true ... MC has a lot of questions to answer. Where did the money go on his watch ...
3. If the club is that deep in debt ... then professional management is needed and that is PH. BA sees him as being the person to lead the club professionally into a new era and manage the money that himself and his investors put in.
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