Athlone Town AFC

TangyZizzle

Are in the money

http://www.rte.ie/sport/soccer/2011/1110/athlonetown.html

Stadium's been paid off

http://www.westmeathindependent.ie/news/roundup/articles/2011/11/09/4007651-mystery-donor-wipes-out-over-500k-athlone-stadium-debt-/


I'm surprised they managed to Find An Investor

Darkglasses

Class, delighted for them. Now, is this nice guy interested in any other debts? Bohs, Galway, Wexford, Harps...

BOHtox

I doubt it was the FAI tbh. Great news to hear though. Hopefully they can keep their books balanced now while prudently increasing their budget with the money saved from not having that debt. I'd love to see a well supported Athlone Town in the Premier Division.

Zebra3

TangyZizzle wrote: »

Are in the money

http://www.rte.ie/sport/soccer/2011/1110/athlonetown.html

Stadium's been paid off

http://www.westmeathindependent.ie/news/roundup/articles/2011/11/09/4007651-mystery-donor-wipes-out-over-500k-athlone-stadium-debt-/


I'm surprised they managed to Find An Investor

I thought Athlone Town owned the stadium and it was almost totally funded by the sale of the old ground.

TangyZizzle

Thought wrong.

Paddy McCaul is the fella that's rumoured to have made the donation.

Do Bohs have any former chairmen that are high up in the FAIlure? No? They're fooked so.

Strongbow10

TangyZizzle wrote: »

Thought wrong.

Paddy McCaul is the fella that's rumoured to have made the donation.

Do Bohs have any former chairmen that are high up in the FAIlure? No? They're fooked so.

Wrong again, Paddy McCaul is a committee member.

The STADIUM debt has been paid off in fairness, by someone local with alot of money. But he may charge even more rent than it cost for the committee to pay the loan off in the first place.

This mystery man has become the main shareholder in the stadium committee company.

What happens now is the original committe (those who built the stadium out of love for the club) are no longer owners, the club is now a tenant I believe.

The main thing is it takes the banks off their back but they have also lost their ownership. and the new man will charge rent too.

TangyZizzle

Are you involved in or do you know someone involved in the club? Or rather.. source?

stovelid

Good to hear but always a bit worrying when the stadium goes out of your ownership into that of a private owner no?

CSF

First Division? Pffffffft.

paddy978

TangyZizzle wrote: »

Thought wrong.

Paddy McCaul is the fella that's rumoured to have made the donation.

Do Bohs have any former chairmen that are high up in the FAIlure? No? They're fooked so.

What has led you to believe McCaul has given the money other than jealousy? Also if its the stadium and not the club do the club benefit at all?

TangyZizzle

paddy978 wrote: »

What has led you to believe McCaul has given the money other than jealousy? Also if its the stadium and not the club do the club benefit at all?

For your sake, I hope that was intended as a joke. I don't think I could be jealous of a side that finished 8th in the first division if I tried.

I was given wrong information - nothing more, nothing less.

For what it's worth - I'm actually happy for the club. Lissywollen has a fairly decent stand in it and I'd like to see Athlone Town do well in the future.

Seaneh

There will not be any rent charged to ATFC, it will carry on as before, the money that would have went on paying off the loan debt from gates etc will now go back into the playing staff/coaches. This is a massive boost to ATFC, the investor might put more money into the club itself but nothing is for sure right now.

All I do know is that he has made a promise that this is out of nothing more than love for the town, the club and football in Athlone and not wanting the oldest club in the country to disappear.

I am really happy about all this.

Zebra3

But the club no longer have any stake in the stadium?

applehunter

Great news Sean.

Exciting times ahead after too many years of threading water.

markesmith

Great news for Athlone Town!

Don't think Paddy had anything to do with it - I'd say this is self-funded, and if there was a donation involved I'm pretty sure it wasn't Paddy.

Seaneh

Zebra3 wrote: »

But the club no longer have any stake in the stadium?

They haven't had for a long time.
The club had no stake in Athlone Stadium LTD.

Seaneh

markesmith wrote: »

Great news for Athlone Town!

Don't think Paddy had anything to do with it - I'd say this is self-funded, and if there was a donation involved I'm pretty sure it wasn't Paddy.

Yeah, Paddy is far from broke, but at the same time, he wouldn't have €500k to be throwing around willy nilly at the minute.

stovelid

Seaneh wrote: »

The club had no steak in Athlone Stadium LTD.

That sounds quite rare.

Seaneh

stovelid wrote: »

That sounds quite rare.

shuddupayoface

celtictiger32

good stuff delighted for athlone its about time some of the rich folk start investing in irish clubs, a few more wouldnt go astray arounf the country

stovelid

Seaneh wrote: »

shuddupayoface

What's the matter you? Got no respect?