GlossopLatic Posted April 24, 2015 Share Posted April 24, 2015 My own deductions from; 1) the Accounts to 30th June 2014 for OAFC Ltd 2) published figures regarding the total cost of the stand having increased greatly over and above the estimated cost 3) OAFC being skint and loss making but propped up by cup matches and player sales at times 4) the very existence of OEC Ltd 5) Statements that the stand has been/will be built debt free Ask yourself one question-how are we managing to build a brand new stand with great facilities at increasing costs on lessening gates every season? The answer has got to be loans (to another Company), if you have any other insight please feel free to offer alternative suggestions So you've made a not unrealistic guess? But one that's not set in stone. My understanding is this TTA/Brassbank own the land but we have leased the building and for that reason OAFC takes the profit losses of the stadium. We will rent out parts of the stand to OEC and sports direct they will pay OAFC rent fees what they take in profit after that is upto them. The stand has been financed partly from the council for shagging up the failsworth project, partly ourselves from cup runs and player trading possibly some grants and probably the rest is borrowed. Their is always a conspiracy theory floating about, remember when we all said that when the initial lease was up in 2014 we'd be turfed out to spotland, and Boundary Park would be bulldozed? Link to comment Share on other sites More sharing options...
Simoncorneyisgod Posted April 24, 2015 Share Posted April 24, 2015 Corney said the sports direct deal puts us financially on par with the top clubs. Add in now money from the stand and we have the best budget in the division. Unless.... Next quote will be...........And due to the drop in ST sales all the new stand will do is plug the gap Link to comment Share on other sites More sharing options...
oafc_lover Posted April 24, 2015 Share Posted April 24, 2015 Next quote will be...........And due to the drop in ST sales all the new stand will do is plug the gap There won't be a drop in ST sales now the new stand is there. Get the managerial appointment right and there might even be an increase! Link to comment Share on other sites More sharing options...
SavageTheBeast Posted April 24, 2015 Share Posted April 24, 2015 To put it simple we have had a loan, which pays for the full stand. As for all loans you need a guarantee you will get this money back, the OEC have secured it against any future earners so that is the conference facilities. Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 24, 2015 Share Posted April 24, 2015 To clarify re the new stand as I understand it OAFC Ltd owns the front section but OEC Ltd owns the back section and structures and the fitting out of the retail and conference facilities. I know it is difficult to comprehend how a structure including the groundworks etc can be divided up but TTA would have been a bit silly to loan OAFC Ltd say £4M (on top of the old debt) to build the lot and then for OEC Ltd to pay rent to OAFC Ltd for the facilities. As Mr Corney has said OAFC own the new stand without any further debt being incurred. The thing is OAFC Ltd do not own the 'extra bits' of the new stand 'Own' means little though without knowing How the ownership is defined in law. if Brassbank own the the freehold, do they have seperate leases for the front of the stand and back to OAFC and OEC respectively or does OAFC lease the ground and sub-lease to OEC Ltd. without knowing the details, it's very hard to guess. Link to comment Share on other sites More sharing options...
longtimeblue Posted April 24, 2015 Share Posted April 24, 2015 Just to clarify, my understanding (from my usually reliable source) is that no-one on here really knows. Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 24, 2015 Share Posted April 24, 2015 My own deductions from; 1) the Accounts to 30th June 2014 for OAFC Ltd 2) published figures regarding the total cost of the stand having increased greatly over and above the estimated cost 3) OAFC being skint and loss making but propped up by cup matches and player sales at times 4) the very existence of OEC Ltd 5) Statements that the stand has been/will be built debt free Ask yourself one question-how are we managing to build a brand new stand with great facilities at increasing costs on lessening gates every season? The answer has got to be loans (to another Company), if you have any other insight please feel free to offer alternative suggestions You can't be debt free and have loans that have to be repaid. Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 24, 2015 Share Posted April 24, 2015 So you've made a not unrealistic guess? But one that's not set in stone. My understanding is this TTA/Brassbank own the land but we have leased the building and for that reason OAFC takes the profit losses of the stadium. We will rent out parts of the stand to OEC and sports direct they will pay OAFC rent fees what they take in profit after that is upto them. The stand has been financed partly from the council for shagging up the failsworth project, partly ourselves from cup runs and player trading possibly some grants and probably the rest is borrowed. Their is always a conspiracy theory floating about, remember when we all said that when the initial lease was up in 2014 we'd be turfed out to spotland, and Boundary Park would be bulldozed? That's how I would guess. Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 24, 2015 Share Posted April 24, 2015 Just to clarify, my understanding (from my usually reliable source) is that no-one on here really knows. Nail on head. Link to comment Share on other sites More sharing options...
deyres42 Posted April 24, 2015 Share Posted April 24, 2015 Beyond caring to be honest. Happy Friday everyone. Link to comment Share on other sites More sharing options...
LaticsChris Posted April 24, 2015 Share Posted April 24, 2015 That cladding looks nice though doesn't it. Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted April 24, 2015 Share Posted April 24, 2015 Under FFP as things stand I wonder if we will get any improvement to our playing budget. We will see wont we! SC has already started to delay the income until the season after next 'probably.' But perhaps probably later! In the Chron in June 2013, Corney said: “If we get 3,000 fans at our matches our budget is £1 million. If we had 6,000 fans, it would be £2 million. Fans might ask why we can’t have Jose Baxter, Jean-Yves Mvoto and players we have lost like Kieran Lee and Chris Taylor in the same team. It comes down, simply, to turnover. What we can try to do is increase our revenue — and that’s what the new stand is about.” Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 24, 2015 Share Posted April 24, 2015 On 2nd August 2011, Corney was quoted in the Chron: “We have agreed a 20-year lease with my two former partners, with an option for a further 20 years, and this has secured the future for the next 40 years.” He added: “I will own the shares in the football club along with the trust. It is in good hands and for the first time I am confident in ploughing more money into the football club.” http://www.oldham-chronicle.co.uk/news-features/10/oldham-athletic-news/59263/goalden-handshake Cheers Diego - i've checked the land registry and OAFC 2004 Ltd owns the leasehold on the ground (but seemingly not all the car park as I think some have said previously). The lease is from 2011 to 2031 but was only registered with the land registry in Jan. Although the actual stand is not on the plans, it does quite clearly indicate that the lease would encompass the land that it sits on. This would indicate that any other operation would have to sub-lease from Oldham Athletic 2004 Ltd (if at all leasing, it may just have the right to operate within the building rather than having exclusive use which a lease would imply). Link to comment Share on other sites More sharing options...
deyres42 Posted April 24, 2015 Share Posted April 24, 2015 In the Chron in June 2013, Corney said: If we get 3,000 fans at our matches our budget is £1 million. If we had 6,000 fans, it would be £2 million. Fans might ask why we cant have Jose Baxter, Jean-Yves Mvoto and players we have lost like Kieran Lee and Chris Taylor in the same team. It comes down, simply, to turnover. What we can try to do is increase our revenue and thats what the new stand is about. You keep reeling off these quotes from Corney as if they mean anything - there has been no meaningful investment put in since Blitz and Gazal exited stage left and there won't be as long as the ownership remains the same. Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted April 24, 2015 Share Posted April 24, 2015 Blitz and Gazal have re-entered stage left, for an encore with Corney, in the shape of OEC Ltd. Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 24, 2015 Share Posted April 24, 2015 The Accounts to 30th June 2014 were filed (late) for OAFC Ltd just this month with an increase in property of some £1.9M. NB There was also a significant increase in debtors (money owed to us!) and creditors (money owed out.) What will the new stand cost in TOTAL? As per published figures some £6.5M per SC in the Chron 2nd October 2014. Where has OAFC Ltd got that extra £4.5M (or at least a significant part of it) from to enable progress on the building to start? When did progress on the North Stand really speed up? When was OEC Ltd formed? Why has progress been so slow in the past so the North Stand might not be ready for next season, as promised? If the North Stand is to be ready for some time within the next season have we been warned that it will not release income? This time next year will there be more warnings that income will not be forthcoming for the season after that? I dont know, but in all of my postings I have said 'in my opinion.' Certain posters are wearing their rose coloured glasses-there is nothing wrong with that! What should we do wait 12 months until the figures come out in the next Accounts to prove that I am wrong or perhaps that I am right? I saw us in the First Division/Premier League and watched us at Wembley a couple of times. All I want is a Promotion push, is it too much to ask? I am sick of waiting season by season, finishing 15/16/17. We should have walked into the top 10 this year, but yet again will finish nowhere near the play offs Link to comment Share on other sites More sharing options...
SavageTheBeast Posted April 24, 2015 Share Posted April 24, 2015 All getting very confusing now but been reading the OEC, Brass Band ltd, PCW developments and Oldham athletic 2004 accounts but all companies seem inter twined Edit I'm no business man (laws my speciality) but judging by this does this show that the TTA are still bank rolling the club Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 24, 2015 Share Posted April 24, 2015 Edit I'm no business man (laws my speciality) but judging by this does this show that the TTA are still bank rolling the club In my humble opinion TTA are bank rolling a large part of the stand and for the purposes of having some sort of security it is going through OEC Ltd. Link to comment Share on other sites More sharing options...
nava Posted April 24, 2015 Share Posted April 24, 2015 All getting very confusing now but been reading the OEC, Brass Band ltd, PCW developments and Oldham athletic 2004 accounts but all companies seem inter twined Edit I'm no business man (laws my speciality) but judging by this does this show that the TTA are still bank rolling the club I thought construction was your speciality? Link to comment Share on other sites More sharing options...
SavageTheBeast Posted April 24, 2015 Share Posted April 24, 2015 I thought construction was your speciality? No but I know when something is rusting. However, I do know that if the stand is not completed for the deadline the company will be liable for breach of contract so chop chop chop... Link to comment Share on other sites More sharing options...
al_bro Posted April 24, 2015 Share Posted April 24, 2015 There won't be a drop in ST sales now the new stand is there. Get the managerial appointment right and there might even be an increase! Lots in the Chaddy are not renewing from my consultations last Saturday. Link to comment Share on other sites More sharing options...
deyres42 Posted April 24, 2015 Share Posted April 24, 2015 Lots in the Chaddy are not renewing from my consultations last Saturday. One is too many but how many is lots? Link to comment Share on other sites More sharing options...
kowenicki Posted April 24, 2015 Share Posted April 24, 2015 Couldn't have put this better myself. Some of the garbage people are making up and the amatuer accountacy from people who clearly have no clue. 2+2=643.678 paul whitehead @pauloaafc · 5h 5 hours ago I love a good conspiracy theory as much as anyone but some of the things I've been reading are more jackanory Link to comment Share on other sites More sharing options...
Ackey Posted April 24, 2015 Share Posted April 24, 2015 Speculation is a lack of communication, little else. A defined plan of what's to come in the next three months and how well we've attained previous goals and you'd have a lot less BS costing us bandwidth! Link to comment Share on other sites More sharing options...
longtimeblue Posted April 24, 2015 Share Posted April 24, 2015 Oldham fan aawell, as are his sons. Going to win an all I reckon... Hasn't messed up at all yet. Guess how I'm spending my Friday night... Rock and Roll Link to comment Share on other sites More sharing options...
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