Author Topic: Dundalk FC  (Read 7232 times)

michaelg

  • Hero Member
  • *****
  • Posts: 1108
    • View Profile
Re: Dundalk FC
« Reply #105 on: October 03, 2020, 10:45:36 PM »
Dundalk will be fortunate to get one or two draws in that group, though good that there's no expensive 10 hour journeys to the depths of east Europe.

The money earned so far will just balance out their accounts over the past 2 seasons, ease the panic of the investors.

Haven't followed too closely.

Have Dundalk overextended themselves?
It's public knowledge that they have recorded big losses in their annual accounts.
The submitted club accounts record a
"total loss of €681,467 for the year ending November 30, 2018"
"total loss for the year ending  nov 2019  €1,226,000"

And although the loss has not been accounted for yet in 2020, the owners have paid the full time salaries of the contracted players since the league went into pause in March and I assume many of those player contracts are the highest in the LOI.
It's a fair statement to claim Dundalks losses are considerable, that's the reson why the ultimatum was laid down to new coaching team to qualify for the Europa leage group stage, or else.

And the four years before that?

They have cash in bank to cover operational losses (as in less than 3 Euro rounds) and the 3m will cover a couple of lean years on that front.
They had 3m in cash reserves before the losses of 2018, 2019. And what was in reserve at the end of 2019 season (about 1m) had been eroded by a variety of expenditures before the new season began and maintaining 100% cost of all employee contracts, in a time with very little income until euro competition in sept. The owners were most desperate to get into the europa group stage. It’s not clear exactly when most of that 3m will be paid out, but usually some time after the competition has concluded. Even before covid theDundalk budget was dependant on success in europe.

When the new owners purchased the club in jan 2019, do you think all the assets including any cash reserves, were purchased for free? Since the group made the initial investment to acquire the club, ithe club has bleeded money.

I think we are in agreement here. They build up cash from Europe, run at 'a loss', build up cash from Europe and so on. Their business model relies on at least 6 games in Europe which they didn't do last year
Rather risky business model.  The Euro money is a bit of a double edged sword.  Crusaders up North seem to have become quite reliant on it and may be fairly snookered if they miss out on Euro qualification, and progression, for a season or two.

I agree its risky, but Dundalk are far better placed to qualify for and progress into Europe than Crusaders.
Not sure I agree.  Although there is a bit more money in the Irish League these days (Glens and Larne), Crusaders still  have a strong chance of Euro qualification each year.  Would there not be more LOI teams realistically competing for the Euro spots?  Also, not sure how the seeding works but if Dundalk draw Rangers, Celtic, Galatasaray etc, I would not have fancy their chances of progressing to  group stages every year.

The Champions route of the EL is designed to give those who parachute down a piss easy run
Fair enough, but that's a crock of shite that it's set up like that.  Out shoshould mean out!  Be interesting to see how Irish teams get on, LOI and IL, in the new 3rd UEFA tournament being added soon.

Baile Brigín 2

  • Hero Member
  • *****
  • Posts: 1199
    • View Profile
Re: Dundalk FC
« Reply #106 on: October 03, 2020, 11:57:48 PM »
Dundalk will be fortunate to get one or two draws in that group, though good that there's no expensive 10 hour journeys to the depths of east Europe.

The money earned so far will just balance out their accounts over the past 2 seasons, ease the panic of the investors.

Haven't followed too closely.

Have Dundalk overextended themselves?
It's public knowledge that they have recorded big losses in their annual accounts.
The submitted club accounts record a
"total loss of €681,467 for the year ending November 30, 2018"
"total loss for the year ending  nov 2019  €1,226,000"

And although the loss has not been accounted for yet in 2020, the owners have paid the full time salaries of the contracted players since the league went into pause in March and I assume many of those player contracts are the highest in the LOI.
It's a fair statement to claim Dundalks losses are considerable, that's the reson why the ultimatum was laid down to new coaching team to qualify for the Europa leage group stage, or else.

And the four years before that?

They have cash in bank to cover operational losses (as in less than 3 Euro rounds) and the 3m will cover a couple of lean years on that front.
They had 3m in cash reserves before the losses of 2018, 2019. And what was in reserve at the end of 2019 season (about 1m) had been eroded by a variety of expenditures before the new season began and maintaining 100% cost of all employee contracts, in a time with very little income until euro competition in sept. The owners were most desperate to get into the europa group stage. It’s not clear exactly when most of that 3m will be paid out, but usually some time after the competition has concluded. Even before covid theDundalk budget was dependant on success in europe.

When the new owners purchased the club in jan 2019, do you think all the assets including any cash reserves, were purchased for free? Since the group made the initial investment to acquire the club, ithe club has bleeded money.

I think we are in agreement here. They build up cash from Europe, run at 'a loss', build up cash from Europe and so on. Their business model relies on at least 6 games in Europe which they didn't do last year
Rather risky business model.  The Euro money is a bit of a double edged sword.  Crusaders up North seem to have become quite reliant on it and may be fairly snookered if they miss out on Euro qualification, and progression, for a season or two.

I agree its risky, but Dundalk are far better placed to qualify for and progress into Europe than Crusaders.
Not sure I agree.  Although there is a bit more money in the Irish League these days (Glens and Larne), Crusaders still  have a strong chance of Euro qualification each year.  Would there not be more LOI teams realistically competing for the Euro spots?  Also, not sure how the seeding works but if Dundalk draw Rangers, Celtic, Galatasaray etc, I would not have fancy their chances of progressing to  group stages every year.

The Champions route of the EL is designed to give those who parachute down a piss easy run
Fair enough, but that's a crock of shite that it's set up like that.  Out shoshould mean out!  Be interesting to see how Irish teams get on, LOI and IL, in the new 3rd UEFA tournament being added soon.

The whole thing is beimg jiggered to balance football back from the top leagues and I welcome that. It is now essentially guaranteed that a couple of LoI clubs make the third competitions group stages every year with a couple of million in prize money. But that has to be balanced with the EL being closed off - no more games against Milan or Juve
 
The nordies are way behind but its not beyond them. That would radically change football in the Belfast and district league.

michaelg

  • Hero Member
  • *****
  • Posts: 1108
    • View Profile
Re: Dundalk FC
« Reply #107 on: October 04, 2020, 09:17:10 AM »
Dundalk will be fortunate to get one or two draws in that group, though good that there's no expensive 10 hour journeys to the depths of east Europe.

The money earned so far will just balance out their accounts over the past 2 seasons, ease the panic of the investors.

Haven't followed too closely.

Have Dundalk overextended themselves?
It's public knowledge that they have recorded big losses in their annual accounts.
The submitted club accounts record a
"total loss of €681,467 for the year ending November 30, 2018"
"total loss for the year ending  nov 2019  €1,226,000"

And although the loss has not been accounted for yet in 2020, the owners have paid the full time salaries of the contracted players since the league went into pause in March and I assume many of those player contracts are the highest in the LOI.
It's a fair statement to claim Dundalks losses are considerable, that's the reson why the ultimatum was laid down to new coaching team to qualify for the Europa leage group stage, or else.

And the four years before that?

They have cash in bank to cover operational losses (as in less than 3 Euro rounds) and the 3m will cover a couple of lean years on that front.
They had 3m in cash reserves before the losses of 2018, 2019. And what was in reserve at the end of 2019 season (about 1m) had been eroded by a variety of expenditures before the new season began and maintaining 100% cost of all employee contracts, in a time with very little income until euro competition in sept. The owners were most desperate to get into the europa group stage. It’s not clear exactly when most of that 3m will be paid out, but usually some time after the competition has concluded. Even before covid theDundalk budget was dependant on success in europe.

When the new owners purchased the club in jan 2019, do you think all the assets including any cash reserves, were purchased for free? Since the group made the initial investment to acquire the club, ithe club has bleeded money.

I think we are in agreement here. They build up cash from Europe, run at 'a loss', build up cash from Europe and so on. Their business model relies on at least 6 games in Europe which they didn't do last year
Rather risky business model.  The Euro money is a bit of a double edged sword.  Crusaders up North seem to have become quite reliant on it and may be fairly snookered if they miss out on Euro qualification, and progression, for a season or two.

I agree its risky, but Dundalk are far better placed to qualify for and progress into Europe than Crusaders.
Not sure I agree.  Although there is a bit more money in the Irish League these days (Glens and Larne), Crusaders still  have a strong chance of Euro qualification each year.  Would there not be more LOI teams realistically competing for the Euro spots?  Also, not sure how the seeding works but if Dundalk draw Rangers, Celtic, Galatasaray etc, I would not have fancy their chances of progressing to  group stages every year.

The Champions route of the EL is designed to give those who parachute down a piss easy run
Fair enough, but that's a crock of shite that it's set up like that.  Out shoshould mean out!  Be interesting to see how Irish teams get on, LOI and IL, in the new 3rd UEFA tournament being added soon.

The whole thing is beimg jiggered to balance football back from the top leagues and I welcome that. It is now essentially guaranteed that a couple of LoI clubs make the third competitions group stages every year with a couple of million in prize money. But that has to be balanced with the EL being closed off - no more games against Milan or Juve
 
The nordies are way behind but its not beyond them. That would radically change football in the Belfast and district league.
Things were changing and fast improving in the Irish League pre Corona. i.e. More money and attendances on the rise.  Let's hope the clubs in NI don't over extend themselves like the ROI where clubs seem to go to the wall much more readily.

Main Street

  • Hero Member
  • *****
  • Posts: 12516
    • View Profile
Re: Dundalk FC
« Reply #108 on: October 04, 2020, 11:35:19 AM »
Dundalk will be fortunate to get one or two draws in that group, though good that there's no expensive 10 hour journeys to the depths of east Europe.

The money earned so far will just balance out their accounts over the past 2 seasons, ease the panic of the investors.

Haven't followed too closely.

Have Dundalk overextended themselves?
It's public knowledge that they have recorded big losses in their annual accounts.
The submitted club accounts record a
"total loss of €681,467 for the year ending November 30, 2018"
"total loss for the year ending  nov 2019  €1,226,000"

And although the loss has not been accounted for yet in 2020, the owners have paid the full time salaries of the contracted players since the league went into pause in March and I assume many of those player contracts are the highest in the LOI.
It's a fair statement to claim Dundalks losses are considerable, that's the reson why the ultimatum was laid down to new coaching team to qualify for the Europa leage group stage, or else.

And the four years before that?

They have cash in bank to cover operational losses (as in less than 3 Euro rounds) and the 3m will cover a couple of lean years on that front.
They had 3m in cash reserves before the losses of 2018, 2019. And what was in reserve at the end of 2019 season (about 1m) had been eroded by a variety of expenditures before the new season began and maintaining 100% cost of all employee contracts, in a time with very little income until euro competition in sept. The owners were most desperate to get into the europa group stage. It’s not clear exactly when most of that 3m will be paid out, but usually some time after the competition has concluded. Even before covid theDundalk budget was dependant on success in europe.

When the new owners purchased the club in jan 2019, do you think all the assets including any cash reserves, were purchased for free? Since the group made the initial investment to acquire the club, ithe club has bleeded money.

I think we are in agreement here. They build up cash from Europe, run at 'a loss', build up cash from Europe and so on. Their business model relies on at least 6 games in Europe which they didn't do last year
There is no "we are in agreement" what planet are you on? ;D
Unless you have suddenly realised you were spoofing your head off about Dundalk having a Eur3m cash reserve in 2020.  As well as not realising that the new club owners did not get the club, lock stock and barrel for free. They have spent a considerable anmount of money to purchase the club in jan 2019, have watched it lose Eur 1.2m in the first year and in 2020 probably another 1.2m. - Eur2m And unless the club qualified for the EL group stage the owners were expected to pump money into this leaky vessel and still have a crap stadium with an unwinningiest team.

Try reading what I said, not the strawman you want me to have said.


I read it,
you wrote "They have cash in bank to cover operational losses (as in less than 3 Euro rounds) and the 3m will cover a couple of lean years on that front."

 and  it's patent bull, there was no Eur3m in the Dundalk bank account. They had Eur1.2m at the end of 2019 season and that bank account was overdrawn by the time the league resumed in the autumn.

Quote
Dundalks losses are accountimg losses. They had more than sufficient cash in the bank to cover them and indeed thats the business plan. A good year in Europe covers two bad years. Reduce the two to one or none and they can take more profit while increasing the wage bill.
You are vainly trying to present nonsense as something plausible.
There is a Dundalk fc account and there are owners of that account.
   No matter how many times you parrot the figure of Eur 3m cash reserves, the Dundalk fc bank account - actual cash - was minus before the EL campaign. They had endured real losses due to expenditure >income, in 2018, 2019 and 2020.

The company accounts of new owners Peak, who who had paid millions to purchase  Dundalk fc, have suffered losses since taking over in jan 2019,  approx Eur2m -2,5m losses
In september 2020, not only was the Dundalk fc bank account depleted  but the owners Peak have lost about Eur2.5m since jan 2019.
And Peak's initial huge investment was well down the road to further write offs.
Dundalk's only escape was to  qualify for the EL proper.
Therefore, the order from Peak was to qualify for the EL group stage or else Dundalk fc were fcked.


« Last Edit: October 04, 2020, 12:04:32 PM by Main Street »

MayoBuck

  • Sr. Member
  • ****
  • Posts: 461
    • View Profile
Re: Dundalk FC
« Reply #109 on: October 22, 2020, 06:40:58 PM »
Dundalk 1-0 up at half time. Great cross by the Bohola man John Mountney to set up the goal

From the Bunker

  • Hero Member
  • *****
  • Posts: 9342
    • View Profile
Re: Dundalk FC
« Reply #110 on: October 22, 2020, 07:33:37 PM »
Nice tidy stadium in Molde



johnnycool

  • Hero Member
  • *****
  • Posts: 2062
    • View Profile
Re: Dundalk FC
« Reply #111 on: October 23, 2020, 09:14:59 AM »
Dundalk 1-0 up at half time. Great cross by the Bohola man John Mountney to set up the goal

Did they go down 3-1 in the end?

Watched a bit on BT, Molde the better team but Dundalk had a few chances to equalise at 2-1 but Molde get the third. Stopped watching after that.

shark

  • Hero Member
  • *****
  • Posts: 1176
    • View Profile
Re: Dundalk FC
« Reply #112 on: October 23, 2020, 11:41:22 AM »
Dundalk 1-0 up at half time. Great cross by the Bohola man John Mountney to set up the goal

Did they go down 3-1 in the end?

Watched a bit on BT, Molde the better team but Dundalk had a few chances to equalise at 2-1 but Molde get the third. Stopped watching after that.

I think you may have fallen asleep at 2-1, and had a dream that Molde scored a 3rd.

SHEEDY

  • Hero Member
  • *****
  • Posts: 2037
    • View Profile
Re: Dundalk FC
« Reply #113 on: October 23, 2020, 01:30:23 PM »
Dundalk 1-0 up at half time. Great cross by the Bohola man John Mountney to set up the goal

Did they go down 3-1 in the end?

Watched a bit on BT, Molde the better team but Dundalk had a few chances to equalise at 2-1 but Molde get the third. Stopped watching after that.
watched most of the match, must've missed that molde 3rd goal you seen. Finished 2-1 in the match I watched 🤔
nil satis nisi optimum

Baile Brigín 2

  • Hero Member
  • *****
  • Posts: 1199
    • View Profile
Re: Dundalk FC
« Reply #114 on: October 26, 2020, 10:51:12 AM »
Dundalk lost again to Waterford this time. They are under serious pressure for third now with their dire form. Thry flattered to decieve with a very easy path to the EL and are miles behind Rovers on and off the pitch.