Cork City takeover on the rocks
Credit:
Cork City’s future is still in doubt as the consortium led by the Quintas Group, who were expected to take over from Tom Coughlan, have confirmed that they have pulled out of negotiations.
With Coughlan recently stating that he would step down from his role as chairman, it looked like a deal would have been struck between the two parties, but a conflict of interests has now seen the consortium withdraw their interest.
The Leesiders still have several court cases impending and their chances of securing a Premier Division licence for the 2010 season remains doubtful.
Having missed the deadline extension to submit their audited accounts, the club's involvement in this year's League of Ireland will be decided by the Licencing Committee February 15.
Nevertheless, FORAS, the supporter group, have stated that they are ready to put the wheels in motion to establish a new club after submitting an application for a Newstalk A Championship licence.
"FORAS members voted last October for the Trust to put a licence application to the FAI. It was a provisional application which both John Delaney and Fran Gavin complimented publicly," FORAS chairman John O'Sullivan told the Evening Echo.
"I have no doubt that if we were in a situation whereby we had a match in mid-March, we would have a team put together and the good bones of a club to carry on senior football in Cork.
"We put a lot of work in with our accountants and with the financial controller that signed up to the licence application and we put a very conservative but realistic budget together.
"The trust is very solid financially and there is a significant amount of money there if members see fit to start off a club if the licence is approved."
With Coughlan recently stating that he would step down from his role as chairman, it looked like a deal would have been struck between the two parties, but a conflict of interests has now seen the consortium withdraw their interest.
The Leesiders still have several court cases impending and their chances of securing a Premier Division licence for the 2010 season remains doubtful.
Having missed the deadline extension to submit their audited accounts, the club's involvement in this year's League of Ireland will be decided by the Licencing Committee February 15.
Nevertheless, FORAS, the supporter group, have stated that they are ready to put the wheels in motion to establish a new club after submitting an application for a Newstalk A Championship licence.
"FORAS members voted last October for the Trust to put a licence application to the FAI. It was a provisional application which both John Delaney and Fran Gavin complimented publicly," FORAS chairman John O'Sullivan told the Evening Echo.
"I have no doubt that if we were in a situation whereby we had a match in mid-March, we would have a team put together and the good bones of a club to carry on senior football in Cork.
"We put a lot of work in with our accountants and with the financial controller that signed up to the licence application and we put a very conservative but realistic budget together.
"The trust is very solid financially and there is a significant amount of money there if members see fit to start off a club if the licence is approved."
About Alan Smith
Alan Smith works as a sub-editor for the Guardian newspaper in London. Originally from Cork, he freelances for several other newspapers and websites. Follow him on twitter @alansmith90. View Full Profile