Cork City set for 'exciting' meeting over Grovemoor takeover

Picture: Barry Cregg / SPORTSFILE

Cork City are due to meet prospective new owners Grovemoor in the coming weeks, with final clarity on their takeover plans nearing a conclusion.

The English-based group – led by Trevor Hemmings, who died last year – had saved City in early 2020 by supplying the finances necessary to secure a licence from the FAI.

As part of the deal, they bought the sell-on clauses City had brokered during the sales of Seani Maguire and Alan Browne to Preston.

FORAS (Friends Of The Rebels Army Society) in October 2020 ratified a motion to sell City and its debts to Grovemoor for €1 but the move stalled due to difficulties in agreeing a deal with Turner’s Cross owners Munster Football Association (MFA) over City’s home venue.

The group, which also owned English Championship club Preston North End, retained a “call-option” to execute the deal, which has extended into a second year of City’s existence in the First Division.

Colin Healy’s side are top of the table by three points ahead of Galway, who play their game in hand on Friday against Wexford.

“We have a date confirmed and are due to meet them over the next few weeks,” said Declan Carey, the Club Chairman who in February had expressed his “incredible frustration” at the protracted process.

“A number of their representatives are coming to Cork. We’re very excited and all signs point to that being a very positive meeting based on the off-line discussions we’ve had with them.

“We’re looking forward to welcoming them to Cork. We’re planning ahead of that meeting. Hopefully that’s the next key update that we’re able to share with supporters and FORAS shareholders.” 

City’s board have been dealing with Mr Hemmings’ son Craig, as well as their advisor, ex-Leeds United Chairman Peter Ridsdale, and the group’s solicitors in Cork.

In his May update to fans and members, Carey welcomed the benefits of strong turnouts at Turner’s Cross this season, some of the best across the league, while remaining mindful of managing the historical liabilities.

“We gave a very positive financial update to our members at our AGM (in March). We’re not going to rest on our laurels. We are in a positive position but still leveraging very significant debt, financing it on a regular basis and managing it quite well at the moment.

“It’s great to see the crowds coming in big numbers. The merchandising and commercial areas of the club are doing quite well, so hopefully that continues and we’ll be able to chip away at the debt that we’ve built up over the past four or five years.” 

Incurring up to €5,000 in fines from the FAI for crowd disturbances, particularly the use of flares, has proved a hindrance. Funds allocated to improve the first team during the summer are consequently in jeopardy.

The club have come down hard on offenders, including the imposition of a lengthy ban for one fan.

“We’re sick to death of talking about this - at board level, the staff and even Colin and the players,” added Carey.

“It’s a disappointing part of having large crowds again. I know everyone is excited to be back at Turner’s Cross and going to away games after the last miserable couple of years. Watching streams at home is not what the League of Ireland is about.

“Some behaviour is completely unacceptable and we have to take action.

“So far this season, we’ve had fines approaching €5,000 at this stage. We’ve issued 15 bans ranging from a couple of games to three years.

“One supporter received a three-year ban with other offences potentially leading to a lifetime ban.

“The disappointing part is that we’re a fans-run club. We’re self-funded by the supporters and commercial revenue we bring in.

“This, unfortunately, does eat into budgets. We did have plans with Colin to potentially strengthen the squad in the summer and this is exactly where the money comes from.

“We tried to factor in buffers and be conservative with our budgeting at the start of the season but unfortunately things are just eating into the reserve we had planned for the summer.

“All we can do is urge fans to adhere to the stadium regulations as best they can. We’re not saying that everybody should be silent at matches. The majority of supporters do behave themselves and I’m talking about the absolute minority of the thousands that attend.”