City must pay up by Friday or face closure

CORK City FC – one of the best-supported clubs in the country – must pay half of the €439,000 they owe the Revenue Commissioners by Friday or face closure.

In the wake of yesterday’s High Court proceedings over the club’s failure to address its outstanding tax liabilities, the Football Association of Ireland (FAI) said it was “disappointed and concerned that the club finds itself in this situation”.

The granting of a temporary stay on the High Court order to wind up the club’s holding company means the League of Ireland Premier Division club has until Friday to make a final effort to resolve its tax woes.

Following a week which had seen so many positive developments on the pitch for the League of Ireland, the FAI said it was disappointed that Cork City had reached such a juncture “despite numerous assurances from Cork City matters with the Revenue Commissioners would be resolved”.

The FAI will be meeting with representatives of Cork City “and will continue to monitor the situation ahead of Friday’s deadline”, it stated.

In court yesterday the club offered a lump sum of €120,000 with the balance to be paid over 12 months, but the Revenue Commissioners are seeking half the money owed, €439,000, with the balance paid over four months.

“We’re right into extra time now,” said Cork City chairman Tom Coughlan after the hearing. “The Revenue haven’t shown us any way that they want to negotiate, so we’ve got to go away and get more cash – and get it fast, by Friday.”

Friday is also the day of the scheduled Cork City game against Bray Wanderers at Turner’s Cross which is owned by the Munster FA.

“At this time, the support of all is vital to us emerging from this situation and the continuation of League of Ireland football in Cork. As we look ahead to Friday night’s game against Bray Wanderers, we ask the people of Cork to come out and support the team and buy tickets for the game in advance of Friday through our kiosk in Daunt Square and our club store at 22 Sullivan’s Quay,” Mr Coughlan said.

City recently sold two of its best-known players to English clubs – Colin Healy to Roy Keane’s Ipswich Town and Denis Behan to Hartlepool United – in a bid to raise funds, but there is a strong feeling now, barring a last minute miracle, the bid was too little, too late.

The club said its intention was to continue trading and it will do all in its power to settle its liabilities. The chairman asked supporters and the people of Cork to “get behind us and help us to save our club.”

The effect on the league of City’s winding up remains uncertain, but it has been speculated that all points won from this season’s games would be disallowed.