Eircom League champions Bohemians are facing a major financial crisis after losing a High Court case relating to the sale of their Dalymount Park home today. With a €60 million sale to developer Liam Carroll already agreed, the consequences for the club are massive.
The legal dispute, which concerned ownership of a tiny piece of the Dalymount Park site, had already stalled the club's move to a greenfield site near Ballymun and there are now fears that the whole deal could collapse entirely.
At the very least, it would appear the club will have to renegotiate the value of the deal at a time when such things are best avoided.
The club agreed back in September 2006 to sell the ground to Carroll's company Danninger. Under the terms of that deal, Bohemians were due to receive a payment of €38 million in cash while a 10,000 capacity stadium in Harristown, worth in excess of €20 million, would also have been be built.
The club has already benefited from a two payments in excess of €1 million from Danninger, believed to be non-refundable, which allowed significant investment on players over the last two seasons.
