Bohs see losses of ¤911k after ¤1.1m court action
BOHEMIANS Football Club Ltd lost €911,229 in the year to the end of November 2010.
The owners of the north Dublin football club, who are also behind Dalymount Park, recorded the loss after settling a court action with Albion Properties for €1.1m, according to accounts just filed.
The club signed a deal with Albion in December 2009 to enter into an option-to-buy agreement in relation to the Dalymount grounds. Bohemians were paid €150,000 as part of this deal that year and a further €800,000 in 2010. The option lapses on March 31, 2012.
Albion Properties is owned by Pascal and Winifred Conroy and owns the Phibsborough Shopping Centre, which adjoins Dalymount.
Bohemians income in the 2010 year was €2.1m, down from €2.5m the previous year. The company is currently engaged in a number of cost-cutting measures to combat the current situation, including slashing players' wages by €521,721.