Cork City takeover talks still ongoing
Credit:
The future of Cork City FC is still undecided as takeover talks with the Quintas Group continue despite Friday's deadline of 12 noon passing without any conclusion being reached.
With the Independent Licencising Committee set to announce their decision on what licence, if any, to award The Leesiders on Monday (February 22), takeover talks were sped up in order to get the process underway.
The Quintas Group and FORAS had both expressed an eagerness to take control of the financially-crippled club after chairman Tom Coughlan agreed to step down. However, there are still some outstanding issues that need to be resolved before Quintas can officially be taken over.
"Quintas Group can confirm that no deal has yet been reached on the sale of Cork City FC," read a brief statement.
"While significant progress has been made, a number of outstanding issues remain to be resolved before a deal can be completed. Negotiations are continuing between the groups."
Meanwhile, Cork have confirmed that James Duggan, B.L. has taken over as interim chairman to help getting the club ready for the 2010 season.
"The main priority for the people of Cork is to have a viable team competing in the Premier Division of the League of Ireland," said Duggan.
"My position as Interim Chairman is to ensure that a change of ownership proceeds smoothly and in doing so ensure that long term football in Cork City is safeguarded. I have therefore agreed to act as Interim Chairman of Cork City Football club for a period of four weeks from the date hereof."
With the Independent Licencising Committee set to announce their decision on what licence, if any, to award The Leesiders on Monday (February 22), takeover talks were sped up in order to get the process underway.
The Quintas Group and FORAS had both expressed an eagerness to take control of the financially-crippled club after chairman Tom Coughlan agreed to step down. However, there are still some outstanding issues that need to be resolved before Quintas can officially be taken over.
"Quintas Group can confirm that no deal has yet been reached on the sale of Cork City FC," read a brief statement.
"While significant progress has been made, a number of outstanding issues remain to be resolved before a deal can be completed. Negotiations are continuing between the groups."
Meanwhile, Cork have confirmed that James Duggan, B.L. has taken over as interim chairman to help getting the club ready for the 2010 season.
"The main priority for the people of Cork is to have a viable team competing in the Premier Division of the League of Ireland," said Duggan.
"My position as Interim Chairman is to ensure that a change of ownership proceeds smoothly and in doing so ensure that long term football in Cork City is safeguarded. I have therefore agreed to act as Interim Chairman of Cork City Football club for a period of four weeks from the date hereof."
