Cork miss deadline as talks continue

Cork City are believed to be the club that have missed the extended deadline to submit full details for their 2010 licence application as talks over a proposed takeover stretch on.

Local businessman Michael O’Connell is involved in talks to complete a takeover of the club after Tom Coughlan stepped down as chairman and indicated that he was willing to hand over the reins.

However, it now appears that The Leesiders are in danger of missing out on a place in the Premier Division after failing to send the correct documentation to the FAI on Wednesday (February 3rd), which was the deadline agreed for an extension after they missed the original date of Friday, January 29th.

"The deadline for receipt of financial information for 2010 licence applications was last Friday, January 29th. Financial submissions have now been received from Premier, First Division and Newstalk A Championship clubs," read a statement on the official League of Ireland website.

"As per the Club Licencing Manual, 5.3.3., a club may request an extension to this deadline where it is able to prove that a delay has been caused by a third party. One club was granted an extension to the deadline to February 3rd. However, as of 5pm on February 3rd, the FAI was not yet in receipt of this documentation.

"Late submissions of audited accounts may result in sanction from the Independent Licensing Committee. In 2008, one club was fined €15,000 for the late submission of audited accounts.

"Failure to supply audited accounts by February 15th, the date of the Independent Licensing Committee meeting, may result in stronger sanction. In 2009, Cobh Ramblers were denied a licence to compete in the First Division and were instead awarded a Newstalk A Championship licence due to failure to supply audited accounts."

If O'Connell has plans of helping the club to retain their top-flight status then he will have to conclude the takeover talks as quickly as possible, because the mountain of debts built up during Coughlan's reign still needs to be addressed as does the licence application.

The club were awarded a two-week adjournment at the High Court on Monday (February 1st) as a winding-up order, which was issued by the Revenue Commissioners for the second time in less than a year, cropped up again.

Coughlan, who represented the club, told Miss Justice Laffoy that ownership of the club is in the process of changing hands and it would be in the best interests to postpone the hearing for two weeks. That paves the way for O’Connell, who originally expressed his interest through financial advisory group Quintas, to take-over at the helm.

Meanwhile, goalkeeper Dan Connor is not happy with the club after they halted a potential loan move to Coca-Cola League Two side Darlington at the last minute.

Connor had organised the cross-channel move himself, which would have seen the former Drogheda United man join The Quakers for the next three months.

However, he was one of the six players suspended last week for threatening strike action. He has since returned to training with Cork along with the other 'suspended' players.