Greenfield Latic Posted June 18, 2019 Share Posted June 18, 2019 Dont forget - Uncle Simon said he would not sell to anyone dodgy and it would have to be someone who can secure the future of the club........... YEAH RIGHT ..... KERCHING..$$$$$ Link to comment Share on other sites More sharing options...
Bristolatic Posted June 18, 2019 Share Posted June 18, 2019 2 minutes ago, lookersstandandy said: We’re getting a bollocking from the FCA for not submitting accounts & being evasive, and (according to @Dave_Og) means we’ll be unable to refer supporters to a credit provider to finance season tickets. Its symptomatic of the sh1t show Marco is running. Anyone who continues to defend him is deluding themselves. Ah, my first impression, but got sidelined with all the jargon. Cheers Andy. Link to comment Share on other sites More sharing options...
Latics and England Posted June 18, 2019 Share Posted June 18, 2019 13 minutes ago, Greenfield Latic said: Dont forget - Uncle Simon said he would not sell to anyone dodgy and it would have to be someone who can secure the future of the club........... YEAH RIGHT ..... KERCHING..$$$$$ This is the point so many people seem to miss. Corney had the chance, I believe, to sell to reputable people but always referred back to not wanting to sell to anyone who didn't have the club's best interests at heart. He was always looking for someone who would give him what he wanted and this is what we have ended up with. Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 20 minutes ago, lookersstandandy said: We’re getting a bollocking from the FCA for not submitting accounts & being evasive, and (according to @Dave_Og) means we’ll be unable to refer supporters to a credit provider to finance season tickets. Its symptomatic of the sh1t show Marco is running. Anyone who continues to defend him is deluding themselves. Prima facie that's about the size of it. I can't think of any other reason other than credit broking, which would include introducing people to a lender, why they would need FCA permissions. They now no longer have them so if they undertake regulated business they would be acting illegally. Link to comment Share on other sites More sharing options...
whittles left foot Posted June 18, 2019 Share Posted June 18, 2019 1 minute ago, Latics and England said: Corney had the chance, I believe, to sell to reputable people but always referred back to not wanting to sell to anyone who didn't have the club's best interests at heart. He was always looking for someone who would give him what he wanted and this is what we have ended up with. So no different than you selling your house-you try to get the best deal you can. Not really bothered who it goes to despite telling the buyers all is well but there is a leak in the garage (Rochdale Rd) roof really. Do you think there are many potential buyers out there who have the best interests of any club at heart these days? The only recent one I can think of is Port Vale, but we have yet to see if they can finance the club sufficiently. Tranmere is probably another example. Link to comment Share on other sites More sharing options...
lookersstandandy Posted June 18, 2019 Share Posted June 18, 2019 3 minutes ago, Dave_Og said: Prima facie that's about the size of it. I can't think of any other reason other than credit broking, which would include introducing people to a lender, why they would need FCA permissions. They now no longer have them so if they undertake regulated business they would be acting illegally. Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 14 minutes ago, lookersstandandy said: Farming it out is regulated business. My firm does it. Link to comment Share on other sites More sharing options...
mikeroyboy Posted June 18, 2019 Share Posted June 18, 2019 25 minutes ago, whittles left foot said: So no different than you selling your house-you try to get the best deal you can. Not really bothered who it goes to despite telling the buyers all is well but there is a leak in the garage (Rochdale Rd) roof really. Do you think there are many potential buyers out there who have the best interests of any club at heart these days? The only recent one I can think of is Port Vale, but we have yet to see if they can finance the club sufficiently. Tranmere is probably another example. Pretty much it in a nutshell. We (along with virtually all other Professional Football Club Supporters) are looking for a benefactor to behave or or finance their business in a way totally alien to how we would conduct our own affairs. I could identify why Corney was here but I still don’t know why AL is here. I do know it’s not for us. Why would it be? Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 25 minutes ago, mikeroyboy said: Pretty much it in a nutshell. We (along with virtually all other Professional Football Club Supporters) are looking for a benefactor to behave or or finance their business in a way totally alien to how we would conduct our own affairs. I could identify why Corney was here but I still don’t know why AL is here. I do know it’s not for us. Why would it be? My first thought was that only he knows, but I doubt that's true. Link to comment Share on other sites More sharing options...
jorvik_latic Posted June 18, 2019 Share Posted June 18, 2019 43 minutes ago, Dave_Og said: Farming it out is regulated business. My firm does it. Are we getting round it by doing it through Ticketmaster? Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 9 minutes ago, jorvik_latic said: Are we getting round it by doing it through Ticketmaster? Doubt it. Will have a look Link to comment Share on other sites More sharing options...
ghostofcecere Posted June 18, 2019 Share Posted June 18, 2019 50 minutes ago, mikeroyboy said: Pretty much it in a nutshell. We (along with virtually all other Professional Football Club Supporters) are looking for a benefactor to behave or or finance their business in a way totally alien to how we would conduct our own affairs. I could identify why Corney was here but I still don’t know why AL is here. I do know it’s not for us. Why would it be? When this question was asked at the Trust meeting I attended the answer was basically the thought is it’s vanity. AL has friends who own hotels and the likes, and owning a football club is a status thing. Link to comment Share on other sites More sharing options...
oafcmetty Posted June 18, 2019 Share Posted June 18, 2019 @OAFCBilly - thoughts? Link to comment Share on other sites More sharing options...
BP1960 Posted June 18, 2019 Share Posted June 18, 2019 58 minutes ago, ghostofcecere said: When this question was asked at the Trust meeting I attended the answer was basically the thought is it’s vanity. AL has friends who own hotels and the likes, and owning a football club is a status thing. Owning a football club like ours is at present is hardly boosting his status. Link to comment Share on other sites More sharing options...
mikeroyboy Posted June 18, 2019 Share Posted June 18, 2019 45 minutes ago, ghostofcecere said: When this question was asked at the Trust meeting I attended the answer was basically the thought is it’s vanity. AL has friends who own hotels and the likes, and owning a football club is a status thing. Perhaps he should have become a hotelier then - open for business 365 days. He probably wouldn’t have been beginning his tenure only owning the brand, staff and parts of the building. He appears to have bought a pup without any serious capital to play with, that only opens for business circa 30 days a year. He may well be justified in cutting staff and bringing in players with with no real ability and little pride in ‘the badge’ after a disastrous relegation. But what a cost to his status. We we may never know the credentials of the people Corney, allegedly, turned down. And we certainly will ‘never’ know how it would have turned out. Link to comment Share on other sites More sharing options...
Jimbooth Posted June 18, 2019 Share Posted June 18, 2019 The document is from 2018. Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 5 minutes ago, Jimbooth said: The document is from 2018. It's not. It was published today. The FCA has excelled itself by dating it 2018 in the latter stages of the document. The decision was made three months ago but could have been rescinded if things had been put in proper order between now and then. June 2018 was the end of the period for which data submissions should have been made. Link to comment Share on other sites More sharing options...
Dave_Og Posted June 18, 2019 Share Posted June 18, 2019 2 hours ago, jorvik_latic said: Are we getting round it by doing it through Ticketmaster? The way the arrangement with V12 Finance is described on the website: https://www.oldhamathletic.co.uk/news/2019/may/31052019-v12-finance/ sounds very much like credit broking to me. This debunks some common misconceptions: https://www.fca.org.uk/firms/authorisation/process/credit-brokers It is just about possible that the way the charges have been structured as administration rather than interest may be a loophole but that would need a specialist. Link to comment Share on other sites More sharing options...
Jimbooth Posted June 18, 2019 Share Posted June 18, 2019 2 hours ago, Dave_Og said: It's not. It was published today. The FCA has excelled itself by dating it 2018 in the latter stages of the document. The decision was made three months ago but could have been rescinded if things had been put in proper order between now and then. June 2018 was the end of the period for which data submissions should have been made. Confusing. It also refers to sports direct. Com park Link to comment Share on other sites More sharing options...
kowenicki Posted June 19, 2019 Share Posted June 19, 2019 7 hours ago, lookersstandandy said: I’m an authorised individual on the Register. Those two are rather overthinking this. It’s very simple. If OAFC need to be registered to act as credit brokers then they need to do an annual return to the FCA to keep their authorisation. They obviously haven’t. So, either they don’t want/need to be able to introduce to finance any more, or they fucked up and forgot. Because, even if you didn’t want to have the permission any more you can’t just ignore the FCA, you have to apply to alter/end permissions. (Edit. Purle says the same as me in another tweet, although he says “it’s a cheap way to do it”... that’s nonsense, there is no cost unless you retain someone to do it for you, which you wouldn’t as it’s simple.) Link to comment Share on other sites More sharing options...
Dave_Og Posted June 19, 2019 Share Posted June 19, 2019 6 hours ago, Jimbooth said: Confusing. It also refers to sports direct. Com park They wouldn't know it wasn't unless the club told them. Unlikely! Link to comment Share on other sites More sharing options...
lookersstandandy Posted June 19, 2019 Share Posted June 19, 2019 6 hours ago, kowenicki said: I’m an authorised individual on the Register. Those two are rather overthinking this. It’s very simple. If OAFC need to be registered to act as credit brokers then they need to do an annual return to the FCA to keep their authorisation. They obviously haven’t. So, either they don’t want/need to be able to introduce to finance any more, or they fucked up and forgot. Because, even if you didn’t want to have the permission any more you can’t just ignore the FCA, you have to apply to alter/end permissions. (Edit. Purle says the same as me in another tweet, although he says “it’s a cheap way to do it”... that’s nonsense, there is no cost unless you retain someone to do it for you, which you wouldn’t as it’s simple.) Either way, it’s symptomatic of how poorly Mr. Lemsagam’s governance of the club is. He may have been (there is no evidence supporting this) a successful agent. He’s a fkin hopeless football chairman/owner who appears to have an aptitude for p1ssing a lot of people off, which will not help him in the long term (if he’s thinking long term). We need him gone. Link to comment Share on other sites More sharing options...
kowenicki Posted June 19, 2019 Share Posted June 19, 2019 15 minutes ago, lookersstandandy said: Either way, it’s symptomatic of how poorly Mr. Lemsagam’s governance of the club is. He may have been (there is no evidence supporting this) a successful agent. He’s a fkin hopeless football chairman/owner who appears to have an aptitude for p1ssing a lot of people off, which will not help him in the long term (if he’s thinking long term). We need him gone. It certainly is. (Unlike the shenanigans with Posh, which I really don’t care about. Actually I’d be happier if he stuck to that part and got a decent football administrator in to do the detail... because he doesn’t have a handle on it at all) Link to comment Share on other sites More sharing options...
HarryBosch Posted June 19, 2019 Share Posted June 19, 2019 It's like an imperfect storm of him being totally unaware of and surprised by the level of rules and regulations around running a UK business (compared to Dubai) but totally unwilling to listen to anyone trying to tell him. Add to that sacking/losing people (eg, Grace Nuttall who I assume might have sorted this) and not adequately replacing them, if he replaces them at all. Link to comment Share on other sites More sharing options...
Dave_Og Posted June 19, 2019 Share Posted June 19, 2019 Just now, HarryBosch said: It's like an imperfect storm of him being totally unaware of and surprised by the level of rules and regulations around running a UK business (compared to Dubai) but totally unwilling to listen to anyone trying to tell him. Add to that sacking/losing people (eg, Grace Nuttall who I assume might have sorted this) and not adequately replacing them, if he replaces them at all. If I was Grace Nuttall (of whom I know nothing) I'd be concerned. As at yesterday (the authorisation has been formally cancelled today) she was the person nominated as having responsibility for the club's regulated activities and, as a result, should she ever apply for such a position again it will come up on her record regardless of whether she was actually there - I have no idea when she departed the club but am assume she has done so. Post leaving she would have been unable to remove her name from the register using the normal processes as that would have to be done by a representative of the authorised firm. Link to comment Share on other sites More sharing options...
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