Petition to wind up Accolade (Shels)

**Student Mullet** · 03/04/2006, 1:17 AM

Originally Posted by OneRedArmy

Also re the previous article & Ollie planning to be in the bank picking up the money BEFORE it opens on Monday, should someone notify the Special Branch? and come to think of it, what a coincidence that there was another large cash-in-transit robbery today....

Whatever about that, I would have tought that if you're picking up a draft worth 300,000 euro, it would be somewhat of a security risk to publicise the exact time, date and location in the national media.

**Macy** · 03/04/2006, 7:29 AM

Originally Posted by pineapple stu

If the club's losing a million a year, it's going to happen sooner rather than later unless serious cut-backs are made surely?

Speculate to accumulate. He who dares, rodders....

**pete** · 03/04/2006, 10:27 AM

So how long before shels will be back in court? 3...6...months?

At the moment Shels are paying off loses from last year & show no sign of cutting their expenses this season so its logical to assume they will rack up further loses this season (CL swopped for Inter Toto)... How will Shels pay their fiuture loses? Will suppliers to slow to do business with them without payment on delivery...?

**higgins** · 03/04/2006, 10:45 AM

Originally Posted by pineapple stu

If Shels are out of the woods (and I'd be delighted for the Shels fans if they were), how do the club plan on avoiding this happening again a couple of months down the line? If the club's losing a million a year, it's going to happen sooner rather than later unless serious cut-backs are made surely?

I would imagine they understand now that the revenue are serious and its not like in the past where it could be put on the long finger.

How do you know we are losing a million A year?

**higgins** · 03/04/2006, 10:49 AM

Originally Posted by Roverstillidie

agreed, the main reason the revenue let us off some of our debt was we radically changed our coporate culture to the extent that the problems were unlikely to happen again.

olly has not made those commitments, but is still comparing the situations.

SOME of your debt!!

Thats a great laugh...

Shels have paid their debts and therefore dont need others to 'let us off'. Id imagine things are very very tight at Shels but so far everything has been paid so why the worry.

At least now you all know that shels do have a tax bill and they pay their tax bill. Hopefully the 3578 threads on tax dodging doesnt increase. What other ingenius theory will you lot come up with now?

**higgins** · 03/04/2006, 11:05 AM

Originally Posted by pete

So how long before shels will be back in court? 3...6...months?

At the moment Shels are paying off loses from last year & show no sign of cutting their expenses this season so its logical to assume they will rack up further loses this season (CL swopped for Inter Toto)... How will Shels pay their fiuture loses? Will suppliers to slow to do business with them without payment on delivery...?

Curtis Flemming, Glen Fitzpatrick, Kevin Doherty, Alan Cawley, Ger Rowe, Derek Pender, Hussain Yandani, Wes Houlihan ALL GONE

Greg O'Hallaran, Liam Kearney, Sean Dillion. IN

Is that any sign of cutting their expenses? Wesos fee alone pays for any incoming player and it was actually one of, if not the biggest for any EL player ever paid.
We are also in the process of playing in the Setanta Cup, a competition with a 150,000 euro prize. A lot more then we would have had for winning the EL.

The difference this season will be of course the Champions League v Intertoto. Hopefully the loss of the above players in fees and wages goes towards filling that gap. Setanta prize money would also bridge the gap.

When Irish teams lost out in the first round of the champions league they didnt make massive amounts of money so being in the CL is not a cert to make money. In fact there are teams like Deportivo in the 3rd round of the Intertoto this season. Although the competition does not carry prize money for each round its not certain Shels will make less in the Intertoto then Cork Derry or Drogheda. We probably will make less in all honesty but you paint a very bad picture and as you can see its not as bad as you make out.

Not gone the way Shels would have liked but we have sold off and cut back on the playing side of things.

**John83** · 03/04/2006, 11:16 AM

Originally Posted by higgins

How do you know we are losing a million A year?

He's an accountant and your accounts are publicly available.

**pineapple stu** · 03/04/2006, 12:30 PM

Actually, their accounts aren't publicly available. However, in the thread on groundsharing, an Irish Times article was posted where it said that Bohs lost E720,000 last year, and then noted that Shels officials privately conceded that Shels lost a good E250,000 more than that. I'll find the link now.

Higgins - I don't think those cut-backs amount to over E1m over a year. You got rid of two players who were out on loan anyway, a couple of U-21 players and three first-teamers who have been replaced - not really much in the way of a cut-back, is it?

Edit - here's the article.

**Réiteoir** · 03/04/2006, 12:34 PM

Originally Posted by Student Mullet

Whatever about that, I would have tought that if you're picking up a draft worth 300,000 euro, it would be somewhat of a security risk to publicise the exact time, date and location in the national media.

Lads - fancy a trip into town that morning - go and "wish him well" at the bank

**pete** · 03/04/2006, 1:04 PM

Shels may have cut some of their expenses this season but you revenue will have dropped significantly this year. I'd be surprised if Hoolohan transfer was all paid out in 1 go & isn't dependent on Livingston not getting relegated.

**higgins** · 03/04/2006, 2:39 PM

You just don't stop Pete do you ?
Do you live in Conspiracy Theory land along with Pineapple Stu.

A lot of your posts have no basis at all…..
You state things off the top of your head and when I point out how wrong you are you hit back with some other crazy notion. You posted earlier "show no sign of cutting their expenses" and you can see from the transfers that we have cut back. Stu can dress it up any way he likes but all those players are off shels books now and we save on wages and also got a big enough fee for weso considering he had 1 year left on contract.
The article doesn’t state we lose a million a year Stu.
Just keep digging lads it must be hard at this stage to come out with any more rubbish.

**caolan** · 03/04/2006, 2:45 PM

Originally Posted by higgins

You just don't stop Pete do you ?
Do you live in Conspiracy Theory land along with Pineapple Stu.

A lot of your posts have no basis at all…..
You state things off the top of your head and when I point out how wrong you are you hit back with some other crazy notion. You posted earlier "show no sign of cutting their expenses" and you can see from the transfers that we have cut back. Stu can dress it up any way he likes but all those players are off shels books now and we save on wages and also got a big enough fee for weso considering he had 1 year left on contract.
The article doesn’t state we lose a million a year Stu.
Just keep digging lads it must be hard at this stage to come out with any more rubbish.

Not going to get into the argument, but you seem the only Shels fan who will actually speak about this - But does it not interest you one little bit that Ollie & Co couldnt raise 1 months repayments to teh revenue and all of a sudden have a cheque for 300k to clear the whole debt?

Are most shels fans still living with blind faith that ollie is the messiah, "hear no evil speak no evil" -

Your only asset is your ground which from the looks of thigs is slowly being remortgaged to pay off current debts....VERY dodgy business practice... correct me if I'm wrong but I cannot see how else Shels could have raised this money.

I'm not having a dig at shels, but having seen the webcast the whole revenue issue and questions on the financial soundness as an ongoing business were missing, which I find shocking considering the newspaper stories doing the rounds, true or untrue.

**higgins** · 03/04/2006, 3:23 PM

There wont be any argument between us as you have posted fairly sensibly on the topic.

Where did he get 300K from when he couldn’t pay 12K last month.

My take on that would be that if he honestly believed that revenue would have issued a winding up order on Accolade he would have had the 12K in a flash. It seems putting things on the long finger is commonplace within the EL and although I don’t agree with it I'd say Shels will not pay off debts until it is final warning in a lot of cases. I guess the revenue called his bluff on this and Ollie was left embarrassed. Still doesn’t explain where he got 300K from but of course you would have to look at it that he is eating into the future sale of Tolka Park. I suppose paying the debt today or paying it in a year or two when he sells Tolka is one and the same as long as he doesn’t build it up to that much again between now and then.

Blind faith in Ollie ?

He has delivered the goods season after season and if anything most Shels fans who failed to get excited about this where right in that Ollie did come up with an answer, just like he has over and over. I think it’s a little unfair on Ollie that its now expected of him but then again he is the one digging the holes for himself. He does mention that people helped him out over the past two weeks so maybe there are some fans out who think posting on message boards means feck all and actually did help out the club financially. 100's of fans shouting abuse on foot wouldn’t have helped really, 300K is a lot of money.

Do I agree with the debts he has at Shels and the way it appears he runs the 'business'. NO I live in some sort of ideal fairy story fantasy land where all bills are paid on time and everyone is happy. I'm not in business but I have had some exposure and in reality I suppose you don’t get into the position where Shels are today by not taking risks.

As for the webcast,

My name is John Coleman and I did ask him the initial question regarding the debt. He said it was going to be paid and no matter how many posts on the subject he was never going to go into great detail. He keeps the business said of the club away from the fans, rightly or wrongly ?? I think that’s where all the conspiracy's come from with other clubs fans. They don’t understand where or how the man does what he does. He had the Donnelly family on board there for years who used to always put their hand in their pocket yet of course it was through tax dodging and other such crap that you lot thought made Shels rich (in your eyes). Its strange that he has just paid off 300K of a debt to the tax man when we don’t pay tax. Ollie will be honest with you and admit that shels have debts and that he would gladly accept someone to come in with a pile of cash but he is not about to go shouting out the names of the people who help the club at present. Whatever he is doing I do have faith ion the man that its all legal and therefore it would be just out of interest that I would like to know where the money comes from. Others on this board are convinced he doubles up as some underworld crime lord every evening or something.

I think it actually pains a lot of people on here who see what Ollie does for Shels and if they where honest would love a man similar to him at their own club.

**pineapple stu** · 03/04/2006, 3:54 PM

Originally Posted by higgins

Just keep digging lads it must be hard at this stage to come out with any more rubbish.

If I keep digging any more, I'll probably bump into your head.

**pete** · 03/04/2006, 4:01 PM

Originally Posted by pineapple stu

If I keep digging any more, I'll probably bump into your head.

Not if i get there first

**pineapple stu** · 03/04/2006, 4:37 PM

I hope the Conspiracy Land authorities know you're considering tunneling out of the country, pete.

**DmanDmythDledge** · 03/04/2006, 7:51 PM

So are Shels off the hook now or what?

**Roverstillidie** · 03/04/2006, 8:16 PM

Originally Posted by dmandmythdledge

So are Shels off the hook now or what?

probably but they still have to go to court and have the revenue officially tell the judge they paid and are in a position to continue paying, which they will most likely do.

thet could get tripped up still if another creditor shows up demanding payment though.

**pete** · 04/04/2006, 10:11 AM

Where did Ollie suddenly get 300k? I presume he borrowed off someone else & that debt not goinbg away either...

**higgins** · 04/04/2006, 10:56 AM

!!!!!Shels are in debt Shocker!!!!!

How did you work that out Pete!!
Sherlock Holmes eat your heart out

All clubs have debts, some clubs have higher debts then others. Some clubs can get bigger loans then others. Some clubs have the ability to pay loans/debts off and some dont.

Seriously, is this all news to you?

Where any of the EL clubs get their money is usually their own business. Even transfers and sponsorship deals are usually held private in the EL. Id love to know where all clubs in the league get their money but its not going to happen.