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Shelbourne settle tax debts

  • 05-09-2006 5:02pm
    #1
    Töpher
    Registered Users, Registered Users 2 Posts: 8,483 ✭✭✭


    Ollie Byrne @ shelbournefc.ie wrote:
    Following clarification of the issues raised by the club at the recent court case and the payment of €104,000 euro, we have received a letter from the solicitors acting for Revenue, stating that the winding-up order on the club is being withdrawn.

    We would also like to report that we have secured the Donnelly family interests in Tolka Park, which secures the pathway for the future of the club.

    Having the winding-up order withdrawn and securing the Donnelly interest in Tolka Park, while it lifts some weight from our shoulders, does not get over the financial difficulties of the club. In order to secure the future and ongoing success of the club, it is imperative that all true supporters come to all the games and not be selective in the games they attend.

    It’s time for all Shelbourne people to get behind Pat Fenlon and the team and show them that we appreciate all their efforts in the past few troublesome months.

    Hopefully thats the end of that! If I am correct, thats Shelbourne's past debts with the taxman all done and dusted. Now if we can just keep our tax paid on time from here on in, we're doing alright. :) (On that front anyways!).


Comments

  • #2
    redspider
    Registered Users, Registered Users 2 Posts: 2,544 ✭✭✭redspider


    Yeah, thats the o/s tax paid to the Revenue. Still, the 104k had to come from somewhere, and as the statement outlines, the club is still in a difficult situation cashflow wise.

    The next step is probably to move out of Tolka and leverage that asset, like Bohs will do with Dalymount over the next 5 years. Bohs are getting some up-front payment with that to improve cashflow, and Shelbourne could get likewise if the 'Donnelly dea'l comes off, if that's what meant by the "Donnelly family interests".

    Redspider


  • #3
    _blank_
    Closed Accounts Posts: 41,926 ✭✭✭✭_blank_


    redspider wrote:
    Yeah, thats the o/s tax paid to the Revenue. Still, the 104k had to come from somewhere, and as the statement outlines, the club is still in a difficult situation cashflow wise.

    The next step is probably to move out of Tolka and leverage that asset, like Bohs will do with Dalymount over the next 5 years. Bohs are getting some up-front payment with that to improve cashflow, and Shelbourne could get likewise if the 'Donnelly dea'l comes off, if that's what meant by the "Donnelly family interests".

    Redspider
    We don't own Tolka Park, we had a lease on it for some X amount of years (99 I think), which has already been sold to developers. The story goes that we have been receiving advances of the payment for some time, possibly a number of years, which have been sustaining the club. The developer cannot build on the land until we have another place to play, hence the recent stories of a Groundhsare with Bohs, and subsequently a move to Morton Stadium in Santry.

    The Donnelly Family have long been associated with Shelbourne FC and have put large amounts of money into the club, however in recent times have become less involved. This new deal is somewhat of a coup for Ollie Byrne and the club, to have gotten them back on board in a large way again.


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