Cork businessman in talks to buy Cork City

Cork businessman Tom Coughlan is one of the men behind the local consortium who are putting together a bid to take over Cork City FC.

Coughlan is in the process of finalising a rescue package to submit to the Examiner Kieran McCarthy, to save the club and wipe out their €1.3m debts.

He revealed today that talks and negotiations were at a sensitive stage.

“We are plodding along with the boys on the legal side and trying to get things done as smoothly and efficiently as possible,” said Coughlan, who is a property developer and quantity surveyor.

He recently opened new offices in the city centre.

“My interest is still there from two years ago when we last tried to get control of the football club and we are back again now.

“The opportunity is better for us now to push this through perhaps but we want to do things right and for all the right reasons,” added Coughlan, who has already spoken to the FAI seeking assurances that there will be no further sanctions imposed on the club.

“It’s a local consortium,” he said.

“We are moving in the right direction but we need something concrete before we make any big announcements.

“There could be news later in the week,” said Coughlan, who was at Monday’s 1-1 draw with Derry City as a spectator.

The other main player with a takeover bid is Limerick man Danny Drew, who is backed by two former club share-holders with two cross-channel clubs.

Meanwhile, Cork City’s supporters’ trust FORAS will hold a public meeting tomorrow night at 8.30pm, in the Telecom club on MacCurtain St, to provide an update on their involvement in the City crisis.

Article courtesy of The Evening Echo