The FAI has responded to Tom Coughlan’s confirmation he intends to resign as chairman of Cork City FC by calling on him to “immediately relinquish ownership of the club” as well. Coughlan is to step down after failing in his High Court bid to overturn an FAI ban on him representing City at association level and a fine of €5,000 for bringing the club into disrepute.
Coughlan will be replaced by an as yet unnamed successor but the FAI believes it isn’t enough and has called on him to immediately make way for a takeover of the club before it is "too late".
“Rather than talking of stepping down as Chairman of Cork City FC, Mr Coughlan should immediately relinquish ownership of the club and allow in the parties who have expressed an interest in taking Cork City forward,” am FAI statement read this afternoon.
“These parties made their interest clear to Mr Coughlan many months ago, yet nothing has happened. Gestures at the eleventh hour when it could be too late to rectify next season are too little, too late.”
On the face of it, City must still repay all footballing debts by tomorrow if they are to receive a league license for the coming season, but they have been given until Wednesday to provide their audited accounts from last year.
The club is believed to owe in the region of €300,000, excluding around €80,000 owed to the Revenue, over which a winding-up order has been sought.
However, it is believed that if City fail to meet these deadlines but have their accounts in order and are under new ownership by February 15th, when they are due to meet the licensing committee, they could still secure a stay of execution.
Coughlan recently described talks with local businessman Michael O’Connell as “great” but said it could take “a few weeks to iron out” the detail of any deal that might result in a change of ownership.
Coughlan’s disrepute charges stemmed from the club’s failure to pay employees on time, meet obligations to the Revenue and pay insurance premiums on time.
The club also reportedly failed to pay the ESB, resulting in supply being cut off, bounced cheques to referees and the Revenue, failed to pay transport costs and has been involved in two high-profile winding-up proceedings.
Coughland claimed in the High Court he was denied fair procedures by an FAI disciplinary committee’s refusal to adjourn its meeting of December 17th, 2009.
In preparing for next season, Cork manager Roddy Collins has made provisional offers only to most of the players recruited in recent weeks.
Former Shelbourne striker Anto Flood linked up with the squad yesterday but Collins confirmed that the Dubliner and a number of other players will be free to take up other offers if City find themselves playing outside the Premier Division.
