FAI set to bail out Cobh with Colman's Park buy-and-lease
Wednesday March 24 2010
THE FAI are set to come to the financial rescue of struggling Cobh Ramblers by agreeing to purchase St Colman's Park, writes Neil Ahern.
Local sources suggest that the FAI will pay €400,000 for the ground, which would then be leased back to the club for the next 20 years.
The deal would enable Cobh to clear most of their debt, which is believed to be in the region of €580,000.
Under the terms of the proposal, an FAI-appointed administration would take over the club with a view to clearing the remaining €180,000.
The association rejected a similar proposal in January 2009, just before the club was relegated to the 'A' Championship for failing to provide adequate accounts to the League's licensing department in time. An FAI source indicated yesterday said that they had been unwilling to step in at that time because it would have prejudiced the licensing process.
The new administration is expected to include former Cobh player Michael O'Leary and three other familiar faces at the club -- Fergus McDaid, Mick Nolan and Eddie Murphy.
Former Bohs star Ndo completes Sligo deal
JOSEPH NDO will return to Dalymount Park on Friday, but he will be wearing a Sligo Rovers jersey rather than that of Bohemians, whom he helped win the League of Ireland last season, writes Daniel McDonnell.
The former Cameroon winger, who harboured hopes of re-igniting his international career when parting company with Bohs at the end of last season and was looking to secure a club in Europe, agreed terms with the Bit O'Red last weekend after failing to find a satisfactory arrangement in Belgium.
Ndo played a key role in Bohs' title win last season, and his capture will lift Sligo, who are sore at losing out on the services of Chris Turner to Shamrock Rovers.
"I'm delighted to bring Joseph Ndo to the Showgrounds," said Sligo boss Paul Cook. "He will excite our supporters and brings something extra to our squad."
Irish Independent
