Cork City play down Revenue wind-up fears

CORK CITY have sought to play down fears about the club’s future following the announcement that the Revenue Commissioners are petitioning to have the company which owns the club wound up.

A hearing is set for May 25 but the club has expressed confidence that it will overcome what it called “short-term problems” relating to outstanding tax liabilities which, according to unofficial sources, could be in the region of €300,000.

In a statement issued last night, the club said: “Cork City Football Club wish to confirm that the club is currently in negotiation with the Revenue regarding the club’s tax liabilities. When the club emerged from Examinership, a settlement was reached with Revenue. Additional tax liabilities subsequently emerged which result from the club’s previous ownership, and the club is currently addressing this matter with Revenue in a bid to bring the issue to a swift and successful conclusion. The fact that these liabilities have arisen subsequent to the Examinership is an issue which the club intends to pursue with the Examiners. The club’s legal and financial advisers intend to meet with the Revenue as a matter of urgency in order to come to an agreement with regard to our current tax liabilities.