SANCTION for a contract allowing the sale of Cork City Football Club players was given by Mr Justice Murphy in the High Court yesterday.
An application for the sale of the players was made by accountant Mr John Hyland, who last week was appointed official liquidator to Decvale Ltd, which owns the club's grounds at Bishopstown, Cork. The liquidator was appointed on the petition of Martin O'Callaghan Ltd Willowhill, Carrigaline, which claimed it was owed £46,775 for work carried out at the grounds.
Mr Martin Hayden, counsel for the liquidator, said yesterday that unless the players were sold before February 1st, they would not be entitled to play for any other league club this season. It was in the interests of the creditors that the assets be realised as soon as possible.
The judge was told there was no objection to yesterday's application by either the Revenue Commissioners, who were stated last week to be owed £80,125 or Sports Ground and Field Services Ltd, Clontarf, Dublin, who were stated to be owed £17,537.
Mr Hyland, in an affidavit read by Mr Hayden, said the assets of Decvale Ltd amounted to a sports ground at Curraheen Road, Bishopstown, together with the pool of players known as Cork City FC, the name of the club and the franchise to play in the National League.
As liquidator he was left in the position of having to effect a sale of the players by tomorrow. Unless the new owners were in possession and the players were registered with the FAI, they would not be entitled to play in the league. This would destroy the market value of the players and cause substantial loss to the company and creditors.