herald

Friday 25 July 2014

Bohemians lose court case over Dalymount - €60m deal now in doubt

A bid by the Bohemians to complete the €60million sale of Dalymount Park is in doubt following a court ruling in Dublin earlier today.

BOHEMIANS suffered a major blow in their bid to complete the €60million sale of Dalymount Park today as a court case in Dublin went against the League of Ireland side.

Bohs have been in dispute with property company Albion for some time over the collapse of their 2001 deal to sell part of the Dalymount side to Albion. Bohs subsequently agreed a deal with Liam Carroll's property group Danninger to earn €60million for the sale of Dalymount and the building of a new stadium in Harristown.

But that deal has now been thrown into doubt when the judge found against Bohs in the matter and ruled that Albion were still entitled to the section of Dalymount they purchased in 2003.

"We are disappointed. We followed the advice of our legal team all the way through, we felt we had a strong case. Now we have to talk to our legal team and see what our next step is," Bohs secretary Gerry Conway said when the decision was announced after noon earlier today.

It remains to be seen of the plan to sell Dalymount Park to developer Liam Carroll in exchange for €40million cash and the building of a new, 10,000 seater stadium near Dublin Airport can go through, as the judge today effectively ruled that Albion still own the section of Dalymount which they purchased.

"We have an agreement in place with Liam Carroll and a contract signed but that deal may now need amendments. We need to talk to Liam and see what his feeling is on the verdict," added Conway.

Bohs began talks with Albion as part of the company's plans to develop the Phibsboro Shopping Centre site, which Albion own. After two years of talks, a deal was agreed whereby Bohs would sell part of the ground behind the goal at the Tramway End to Albion, in exchange for a cash payment and the building by Albion of corporate boxes for Bohs.

Albion agreed to paid Bohs an initial deposit of €100,000 and by 2003, it was claimed in court today, Albion chairman Pascal Conroy claimed publicly that "the deal is done".

Albion made regular payments to Bohs over the following months and years, money which Bohs - by now racking up massive debts due to the cost of their full-time squad - needed to stay afloat.

But disputes arose over the exact location of Albion's side and the deal began to unravel when it was suggested that, instead of building the corporate boxes for Bohs behind the goal, that Albion would pay Bohs compensation of €750,000 as a buy-out clause for not building the corporate boxes.

Over time relations between the parties grew more tense at by 2006 Bohs had sent Albion a cheque for €1.05million, to cover the amount that Albion had paid to Bohs since the deal was initiated, but the money was not accepted by Albion and they returned the cheque as they wanted to keep their deal in place and retain their land.

The matter ended up before the courts when Bohs agreed that deal, in 2006, with Danninger to sell Dalymount lock, stock and barrel and move to the new stadium in Harristown, but that deal has been blocked by Albion's court bid to have it recognised in court that the still owned part of the Dalymount site.

Now it's back to the drawing board for Bohs to see if they can somehow buy Albion out of their part of the land or somehow accommodate them in the overall deal to sell the ground and move to Harristown.Either way, it's a big blow to Bohs and their ambitions to have a successful, full-time team playing in a spanking new 10,000 seater stadium in the short term.

Bohs have been in dispute with property company Albion for some time over the collapse of their 2001 deal to sell part of the Dalymount side to Albion. Bohs subsequently agreed a deal with Liam Carroll's property group Danninger to earn €60million for the sale of Dalymount and the building of a new stadium in Harristown.

But that deal has now been thrown into doubt when the judge found against Bohs in the matter and ruled that Albion were still entitled to the section of Dalymount they purchased in 2003.

"We are disappointed. We followed the advice of our legal team all the way through, we felt we had a strong case. Now we have to talk to our legal team and see what our next step is," Bohs secretary Gerry Conway said when the decision was announced after noon earlier today.

It remains to be seen of the plan to sell Dalymount Park to developer Liam Carroll in exchange for €40million cash and the building of a new, 10,000 seater stadium near Dublin Airport can go through, as the judge today effectively ruled that Albion still own the section of Dalymount which they purchased.

"We have an agreement in place with Liam Carroll and a contract signed but that deal may now need amendments. We need to talk to Liam and see what his feeling is on the verdict," added Conway.

Bohs began talks with Albion as part of the company's plans to develop the Phibsboro Shopping Centre site, which Albion own. After two years of talks, a deal was agreed whereby Bohs would sell part of the ground behind the goal at the Tramway End to Albion, in exchange for a cash payment and the building by Albion of corporate boxes for Bohs.

Albion agreed to paid Bohs an initial deposit of €100,000 and by 2003, it was claimed in court today, Albion chairman Pascal Conroy claimed publicly that "the deal is done".

Albion made regular payments to Bohs over the following months and years, money which Bohs - by now racking up massive debts due to the cost of their full-time squad - needed to stay afloat.

But disputes arose over the exact location of Albion's side and the deal began to unravel when it was suggested that, instead of building the corporate boxes for Bohs behind the goal, that Albion would pay Bohs compensation of €750,000 as a buy-out clause for not building the corporate boxes.

Over time relations between the parties grew more tense at by 2006 Bohs had sent Albion a cheque for €1.05million, to cover the amount that Albion had paid to Bohs since the deal was initiated, but the money was not accepted by Albion and they returned the cheque as they wanted to keep their deal in place and retain their land.

The matter ended up before the courts when Bohs agreed that deal, in 2006, with Danninger to sell Dalymount lock, stock and barrel and move to the new stadium in Harristown, but that deal has been blocked by Albion's court bid to have it recognised in court that the still owned part of the Dalymount site.

Now it's back to the drawing board for Bohs to see if they can somehow buy Albion out of their part of the land or somehow accommodate them in the overall deal to sell the ground and move to Harristown.

Either way, it's a big blow to Bohs and their ambitions to have a successful, full-time team playing in a spanking new 10,000 seater stadium in the short term.

Bohs have been in dispute with property company Albion for some time over the collapse of their 2001 deal to sell part of the Dalymount side to Albion. Bohs subsequently agreed a deal with Liam Carroll's property group Danninger to earn €60million for the sale of Dalymount and the building of a new stadium in Harristown.

But that deal has now been thrown into doubt when the judge found against Bohs in the matter and ruled that Albion were still entitled to the section of Dalymount they purchased in 2003.

"We are disappointed. We followed the advice of our legal team all the way through, we felt we had a strong case. Now we have to talk to our legal team and see what our next step is," Bohs secretary Gerry Conway said when the decision was announced after noon earlier today.

It remains to be seen of the plan to sell Dalymount Park to developer Liam Carroll in exchange for €40million cash and the building of a new, 10,000 seater stadium near Dublin Airport can go through, as the judge today effectively ruled that Albion still own the section of Dalymount which they purchased.

"We have an agreement in place with Liam Carroll and a contract signed but that deal may now need amendments. We need to talk to Liam and see what his feeling is on the verdict," added Conway.

Bohs began talks with Albion as part of the company's plans to develop the Phibsboro Shopping Centre site, which Albion own. After two years of talks, a deal was agreed whereby Bohs would sell part of the ground behind the goal at the Tramway End to Albion, in exchange for a cash payment and the building by Albion of corporate boxes for Bohs.

Albion agreed to paid Bohs an initial deposit of €100,000 and by 2003, it was claimed in court today, Albion chairman Pascal Conroy claimed publicly that "the deal is done".

Albion made regular payments to Bohs over the following months and years, money which Bohs - by now racking up massive debts due to the cost of their full-time squad - needed to stay afloat.

But disputes arose over the exact location of Albion's side and the deal began to unravel when it was suggested that, instead of building the corporate boxes for Bohs behind the goal, that Albion would pay Bohs compensation of €750,000 as a buy-out clause for not building the corporate boxes.

Over time relations between the parties grew more tense at by 2006 Bohs had sent Albion a cheque for €1.05million, to cover the amount that Albion had paid to Bohs since the deal was initiated, but the money was not accepted by Albion and they returned the cheque as they wanted to keep their deal in place and retain their land.

The matter ended up before the courts when Bohs agreed that deal, in 2006, with Danninger to sell Dalymount lock, stock and barrel and move to the new stadium in Harristown, but that deal has been blocked by Albion's court bid to have it recognised in court that the still owned part of the Dalymount site.

Now it's back to the drawing board for Bohs to see if they can somehow buy Albion out of their part of the land or somehow accommodate them in the overall deal to sell the ground and move to Harristown.

Either way, it's a big blow to Bohs and their ambitions to have a successful, full-time team playing in a spanking new 10,000 seater stadium in the short term.

Bohs have been in dispute with property company Albion for some time over the collapse of their 2001 deal to sell part of the Dalymount side to Albion. Bohs subsequently agreed a deal with Liam Carroll's property group Danninger to earn €60million for the sale of Dalymount and the building of a new stadium in Harristown.

But that deal has now been thrown into doubt when the judge found against Bohs in the matter and ruled that Albion were still entitled to the section of Dalymount they purchased in 2003.

"We are disappointed. We followed the advice of our legal team all the way through, we felt we had a strong case. Now we have to talk to our legal team and see what our next step is," Bohs secretary Gerry Conway said when the decision was announced after noon earlier today.

It remains to be seen of the plan to sell Dalymount Park to developer Liam Carroll in exchange for €40million cash and the building of a new, 10,000 seater stadium near Dublin Airport can go through, as the judge today effectively ruled that Albion still own the section of Dalymount which they purchased.

"We have an agreement in place with Liam Carroll and a contract signed but that deal may now need amendments. We need to talk to Liam and see what his feeling is on the verdict," added Conway.

Bohs began talks with Albion as part of the company's plans to develop the Phibsboro Shopping Centre site, which Albion own. After two years of talks, a deal was agreed whereby Bohs would sell part of the ground behind the goal at the Tramway End to Albion, in exchange for a cash payment and the building by Albion of corporate boxes for Bohs.

Albion agreed to paid Bohs an initial deposit of €100,000 and by 2003, it was claimed in court today, Albion chairman Pascal Conroy claimed publicly that "the deal is done".

Albion made regular payments to Bohs over the following months and years, money which Bohs - by now racking up massive debts due to the cost of their full-time squad - needed to stay afloat.

But disputes arose over the exact location of Albion's side and the deal began to unravel when it was suggested that, instead of building the corporate boxes for Bohs behind the goal, that Albion would pay Bohs compensation of €750,000 as a buy-out clause for not building the corporate boxes.

Over time relations between the parties grew more tense at by 2006 Bohs had sent Albion a cheque for €1.05million, to cover the amount that Albion had paid to Bohs since the deal was initiated, but the money was not accepted by Albion and they returned the cheque as they wanted to keep their deal in place and retain their land.

The matter ended up before the courts when Bohs agreed that deal, in 2006, with Danninger to sell Dalymount lock, stock and barrel and move to the new stadium in Harristown, but that deal has been blocked by Albion's court bid to have it recognised in court that the still owned part of the Dalymount site.

Now it's back to the drawing board for Bohs to see if they can somehow buy Albion out of their part of the land or somehow accommodate them in the overall deal to sell the ground and move to Harristown.

Either way, it's a big blow to Bohs and their ambitions to have a successful, full-time team playing in a spanking new 10,000 seater stadium in the short term.

Bohs have been in dispute with property company Albion for some time over the collapse of their 2001 deal to sell part of the Dalymount side to Albion. Bohs subsequently agreed a deal with Liam Carroll's property group Danninger to earn €60million for the sale of Dalymount and the building of a new stadium in Harristown.

But that deal has now been thrown into doubt when the judge found against Bohs in the matter and ruled that Albion were still entitled to the section of Dalymount they purchased in 2003.

"We are disappointed. We followed the advice of our legal team all the way through, we felt we had a strong case. Now we have to talk to our legal team and see what our next step is," Bohs secretary Gerry Conway said when the decision was announced after noon earlier today.

It remains to be seen of the plan to sell Dalymount Park to developer Liam Carroll in exchange for €40million cash and the building of a new, 10,000 seater stadium near Dublin Airport can go through, as the judge today effectively ruled that Albion still own the section of Dalymount which they purchased.

"We have an agreement in place with Liam Carroll and a contract signed but that deal may now need amendments. We need to talk to Liam and see what his feeling is on the verdict," added Conway.

Bohs began talks with Albion as part of the company's plans to develop the Phibsboro Shopping Centre site, which Albion own. After two years of talks, a deal was agreed whereby Bohs would sell part of the ground behind the goal at the Tramway End to Albion, in exchange for a cash payment and the building by Albion of corporate boxes for Bohs.

Albion agreed to paid Bohs an initial deposit of €100,000 and by 2003, it was claimed in court today, Albion chairman Pascal Conroy claimed publicly that "the deal is done".

Albion made regular payments to Bohs over the following months and years, money which Bohs - by now racking up massive debts due to the cost of their full-time squad - needed to stay afloat.

But disputes arose over the exact location of Albion's side and the deal began to unravel when it was suggested that, instead of building the corporate boxes for Bohs behind the goal, that Albion would pay Bohs compensation of €750,000 as a buy-out clause for not building the corporate boxes.

Over time relations between the parties grew more tense at by 2006 Bohs had sent Albion a cheque for €1.05million, to cover the amount that Albion had paid to Bohs since the deal was initiated, but the money was not accepted by Albion and they returned the cheque as they wanted to keep their deal in place and retain their land.

The matter ended up before the courts when Bohs agreed that deal, in 2006, with Danninger to sell Dalymount lock, stock and barrel and move to the new stadium in Harristown, but that deal has been blocked by Albion's court bid to have it recognised in court that the still owned part of the Dalymount site.

Now it's back to the drawing board for Bohs to see if they can somehow buy Albion out of their part of the land or somehow accommodate them in the overall deal to sell the ground and move to Harristown.

Either way, it's a big blow to Bohs and their ambitions to have a successful, full-time team playing in a spanking new 10,000 seater stadium in the short term.





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