Bohs' short-term future secured
BOHEMIANS have secured their short-term future and can begin planning for next season after reaching agreement with Zurich Bank on their loan of more than €4m.
But it is a future almost certain to be away from Dalymount Park after the club revealed that the Swiss bank will be granted a charge on the stadium, the third charge on the property, and will be repaid if and when the club find a buyer for the ground.
Club members were last night informed of the agreement and a Bohs statement revealed that if there is a shortfall after the property is sold and the other secured creditors are paid, Zurich will not seek to have Bohemians wound up.
Members approved the plans, meaning the club, who remain without a manager since the departure of Pat Fenlon to Hibernian, can now begin plans for the upcoming season.
"This agreement allows Bohemians to prepare for next season knowing that our largest creditor will not, in the short term, be seeking payment of the debt to them," Bohs president Chris Brien said. "We urge supporters to buy season tickets and membership for 2012 now that this uncertainty has been removed."
Independent.ie Comments Facility
INM has taken the decision to remove the commenting facility on its online platform Independent.ie to minimise the legal risk to our business that arises from Ireland's draconian libel awards system.
We continue to look forward to receiving comments through direct email contact or via social media, some of which may still be featured on the website Independent.ie