Cork City go bust

[Dirk Gently]

Reading bought out the sell-on clause in KD with a cash sum to Cork in November last year - I think for something like 200k Euros.

Do you think that's a bit immoral?

There's be invective being spouted on here if, say, Chelsea, did something similar to us with the Sidwell sell on clause if we were in dire straights.

Not when we did it, no. He was about to sign a new contract with us and I think sell-on clauses have a limited lifetime so that it wouldn't have still applied once he'd signed. I think we could possibly have got away with paying nothing if we'd really wanted to.

Don't forget also that we paid well over the odds for Bennett as a sort of "unofficial compensation" for the deal we'd got with Doyle & Long.

[Muskrat]

Cork go Pop.

Someone had to do it....

[gazzer, loyal royal]

Didn't Cork ask for the money? Should Reading have taken the moral high ground and refused?

we paid the administrators an amount they would accept

however if Cork only need 200,000 there must be a way Reading FC can help

[sheshnu]

Or just paid the full amount?

What is the full value of a sell-on clause before the player in question is sold on?

Of course it's a shame if Cork City go out of business, but I don't think Reading FC are to blame in any way. In fact they've probably done more than most other football clubs to try and help (I'm guessing).

[Jackson Corner]

I have just been to Ireland and there football is a mess, Bohiemians the current champions are expected to go bust at the end of the season. Only Shamrock are expected to be the only club not to go part time from next season

The leagues should form with N.Ireland, Scotland and Wales and make it more interesting....maybe then people will watch more??!

Good idea in theory espeicially as most Eircom teams will be part time from next season. In rugby Ulster play in the Magners league.
Trouble is the old north south devide they don't need much excuse for a punch up when a catholic team plays a protastent one.

[SCIAG]

Didn't Cork ask for the money? Should Reading have taken the moral high ground and refused?

we paid the administrators an amount they would accept

however if Cork only need 200,000 there must be a way Reading FC can help

That is the figure apparently. There's one match to go before the money has to be paid, and FORAS reckon they can raise £80k if the match is a sell out, not including additional revenue (programmes, merchandising, etc.) The chances of it being a sell out are pretty high apparently, due to the novelty of it being Cork's last ever match.

[Arch]

Didn't Cork ask for the money? Should Reading have taken the moral high ground and refused?

we paid the administrators an amount they would accept

however if Cork only need 200,000 there must be a way Reading FC can help

Will you be contributing?

[st george]

Trouble is the old north south devide they don't need much excuse for a punch up when a catholic team plays a protastent one.

Teams from the North and Republic play against each other every season in the Setanta cup and talk of an all Ireland league have been going on for a few years.

[gazzer, loyal royal]

Didn't Cork ask for the money? Should Reading have taken the moral high ground and refused?

we paid the administrators an amount they would accept

however if Cork only need 200,000 there must be a way Reading FC can help

Will you be contributing?

well if they put a bucket outside the Chelsea game i'd definitely put some money in it

[RIP ELM Park]

Isn't there an ex cork player whose probably got a nice premiership wage and signing on fee burning a hole in his bank account? Maybe he'd like to make a contribution?

[Huntley & Palmer]

Roy Keane was born in Cork, so there is a man to target

[gazzer, loyal royal]

Isn't there an ex cork player whose probably got a nice premiership wage and signing on fee burning a hole in his bank account? Maybe he'd like to make a contribution?

i'm sure they a;ready said they were onto Doyle

[moo]

Surely even if they get bailed out it will only be a few more months until this happens all over again

[rg6royal]

Very Sad news

[Starfish]

Better news today.

Cork City's immediate future is secured
Wednesday, 5 August 2009 16:52
Cork City's immediate future has been secured after the club confirmed it has fulfilled its commitment to the High Court and settled its outstanding tax liability with the Revenue Commissioners before today's 5pm deadline.
A statement released by the club read: 'Cork City FC is pleased to confirm that, as per the commitment made in the High Court on Friday last, it has settled its outstanding tax liability with the Revenue Commissioners in full.'
City had an overall tax liability bill of €439,000 with the Revenue Commissioners, and paid €220,000 last Friday and committed to come up with the remainder by 5pm today.

Cork City was informed it must pay €219,000 this evening, and the club has confirmed it has made this payment.

http://www.rte.ie/sport/soccer/2009/0805/corkcity.html

[Flyingkiwi]

Better news today.

Cork City's immediate future is secured
Wednesday, 5 August 2009 16:52
Cork City's immediate future has been secured after the club confirmed it has fulfilled its commitment to the High Court and settled its outstanding tax liability with the Revenue Commissioners before today's 5pm deadline.
A statement released by the club read: 'Cork City FC is pleased to confirm that, as per the commitment made in the High Court on Friday last, it has settled its outstanding tax liability with the Revenue Commissioners in full.'
City had an overall tax liability bill of €439,000 with the Revenue Commissioners, and paid €220,000 last Friday and committed to come up with the remainder by 5pm today.

Cork City was informed it must pay €219,000 this evening, and the club has confirmed it has made this payment.

http://www.rte.ie/sport/soccer/2009/0805/corkcity.html

Hooray!!

Cork stay afloat!

(Yes!I know. But someone had to...)