Court to decide future of Cork City FC

THE future of Cork City FC hangs in the balance today as the club’s off-pitch woes come up for decision in the Four Courts.

Despite a good result as they took a league point on the road in Derry last night, attention now reverts to the club’s financial performance.

Today marks the passing of a two-week deadline set by a High Court judge for the club’s directors to meet the requirements of the Revenue Commissioners to help settle its €360,000 debt.

Sources at the club were in confident mood, indicating that enough may have been done to satisfy the tax demands.

Since the case was last heard, the sale of key players Colin Healy and Denis Behan, to Ipswich Town and Hartlepool United respectively, is believed to have raised at least €120,000.

The coffers were also boosted by close to €50,000 when Roy Keane’s Ipswich Town waived their appearance fee for the sides’ friendly at Turner’s Cross in front of 3,200 fans eight days ago.

The tax authorities had rejected a previous settlement offer from the club to make a payment of €50,000 and monthly payments of €17,000 over 18 months, insisting instead on half the debt being repaid up front and the remainder in four instalments.

Back on the pitch, last night’s draw sees Cork City stay in third spot in the League of Ireland Premier Division.

Club officials will be counting on their legal representatives to ensure the team gets to fulfil its next fixture at home to Bray Wanderers on Friday night.

But relatively poor attendances at home games have been a factor in the slowdown in the club’s finances, despite regularly drawing some of the biggest crowds in the league.

More than 40 people are on the club’s wage books and player representatives have expressed concern about any further pay cuts which might be enforced as owner Tom Coughlan seeks to meet the Revenue Commissioners’ demands.

His company, Cork City FC Investments Ltd, took over the club last October after it had gone into examinership under previous owners Arkaga.