Cork City’s future remains unclear after takeover talks stall

ANOTHER day and yet another deadline has passed for Cork City without a breakthrough in the ongoing takeover talks.

The bidding consortium had set 12 noon yesterday as a cut-off point for making a final decision on whether a deal could be reached but, having at one stage in the afternoon reported that “significant progress” had been made, it wasn’t until last night that the Quintas Group, on behalf of Peter Gray, Michael O’Connell and FORAS, confirmed negotiations had stalled.

The consortium said that an offer had been made to owner Tom Coughlan earlier in the day but claimed there had been “no meaningful engagement in relation to the bid”.