FORAS - We have met two potential investors

FORAS director, City councillor Jonathan O'Brien has revealed that the trust have spoken to two different potential investors. Speaking to extratime.ie after last night's public meeting, O'Brien said "We have met with 2 potential investors. The first outlined his proposals to us over 2 weeks ago. It involved FORAS having a shareholding in the club and 2 positions on the board. We asked that investor to put something down on paper so we could bring it to our members. We have not heard anything back yet.

While he couldn't name the first investor he was able to name the second after it was announced during the public meeting held by FORAS on Thursday night. "The 2nd investor is Tom Coughlan. We have met him on 2 occasions and spoke with him several times over the phone. Tom has formally lodged a bid with the Examiner to take over the club. He outlined to us his proposals which I am unable to go into in any great detail as we have signed a non disclosure agreement with the Examiner. We can, however, confirm that his plan involves FORAS having a shareholding in the club with a position on the board. All I can really say about the proposal beyond that is the following, the aims of Tom Coughlan and the aims of FORAS are very much aligned." explained O'Brien.

The Initiatives Director also revealed that the trust currently has 172 paid up members and they expect there to be almost double that by the end of the Examinership period. While O'Brien also believes the club could be owned fully by the trust eventually "I feel with enough members and finances coming into the trust then full ownership becomes a very real possibility further down the line. The job at hand now though is to secure the future of the club.

When quizzed about contact with other people involved with the game he revealed that "we have had discussions with Shamrock Rover fans on how they went about setting up a fans trust and their experience of dealing with Examinership. They have been very helpful indeed." While he also admitted that the trust has had contact with the PFAI and the FAI are also aware of the trust. Mr O'Brien explained that contact is "cordial and work is in progress.

The best case scenario for FORAS now is that "Premier League Football and European qualification are secured. While the club continue to be full-time and have financial security and stability." O'Brien also said that "I would expect that the Club would remain to be a full-time club but operating within a more prudent budget which is sustainable.

Cllr O'Brien also had a message for fans who could potentially invest in the trust. "People should join the trust as it is a practical way of helping to secure the future of CCFC. As a fans trust we could be in a position to have a real say in the future direction of the club. Also, all of the potential investors have expressed a desire to have FORAS involved so membership of the trust enables individual members to have their voice heard at board level.

FORAS already have over €33000 in their bank account, this does not include any standing orders. It is also reported that there have been two business type memberships, each worth €1000. They're also keen to stress that members will receive their receipts and confirmations by Friday the 19th. It was also announced at last night's meeting that the CCOSC Cork City Official Supporters Club) will donate all proceed from their annual Hall of Fame night to the trust next month. Tickets are priced at €20.

The bid of Tom Coughlan is now in the hands of the examiner Kieran Mc Carthy but a decision will not take too long as the Examinership period ends in just over 3 weeks. Keep your eyes fixed on extratime.ie for all the latest updates on the Cork City situation.