Stay of execution for Coleraine
Wednesday, September 7, 2005
Article summary
Monthly review: Coleraine FC's short-term future in Northern Ireland has been assured after the club went into administration.
Article body
'Friends of Coleraine'
At one stage it appeared that Coleraine would suffer the same fate as Omagh Town FC, who folded in May after relegation from the Premier Division. However, funds were pledged by supporters and business backers, under the umbrella 'Friends of Coleraine', and the Irish Football Association also offered its support to the financially-troubled team.
€1.8m debts
The final part of the rescue package came on Monday when the application to go into administration was accepted, allowing Coleraine to continue operating. The club have debts of around €1.8m but agreed settlements with most of their creditors except the Inland Revenue, which is owed around €540,000 in unpaid taxes.
League Cup under way
Coleraine must still prove their ongoing financial viability but the High Court decision secures their future for the forthcoming campaign at least. The 2005/06 championship kicks off on 17 September but the season is already under way in the form of the League Cup.
Glentoran into last eight
Coleraine are struggling so far, with three points from four games in Group One. In the same section, holders and league champions Glentoran FC became the first side to qualify for the quarter-finals, with last year's losing finalists Linfield FC also well-placed with three wins from three matches.
Deadline deals
Goalkeeper Greg Shannon returned to Linfield FC from Ballymena United FC having played just three times for his new team before being dropped for former Institute FC keeper Ciaran McLaughlin. Institute were involved in a triple deadline-day deal with neighbours Limavady United FC, signing Ryan McIlmoyle and Kevin Ramsey and letting Graeme Philson go.
Kee reshapes Limavady
Limavady boss Paul Kee also brought in five other players as he reshapes the side. The most notable were Moroccan midfielder Kabli Amine and American striker Dave Bulow, who returned to the club from Texas, but he also added defender Martin Ferry, midfielder Mark McGuinness and forward Seamus Brown.
Former Leeds man
Irish Cup holders Portadown FC recruited Jamie Marks, released by Ballymena, and Republic of Ireland Under-21 defender Henry McStay, who had spent four years at English side Leeds United AFC.