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3 minutes ago, Dave_Og said:

It's ironic that all this has come to a head just as they appear to have seen the error of their player recruitment ways.

The money that's been wasted on putting sub-standard foreign players, who got nowhere near the first team, in hotels etc..would have probably paid the wages of 2 decent players ( or the Inland Revenue ).

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26 minutes ago, Dave_Og said:

It's ironic that all this has come to a head just as they appear to have seen the error of their player recruitment ways.

Ain’t life a bitch. 

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18 minutes ago, Bobledgersheart said:

The money that's been wasted on putting sub-standard foreign players, who got nowhere near the first team, in hotels etc..would have probably paid the wages of 2 decent players ( or the Inland Revenue ).

Yes but are the hotels being paid ?

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26 minutes ago, wiseowl said:

Reading between the lines here, it is possible that this could be a "pre-pack administration" and would, therefore, proceed and conclude pretty quickly.

 

17 minutes ago, losesome said:

It can only proceed quickly if AL is prepared to accept it , which is extremely doubtful.

Why woukd he walk away from millions he has put in without a fight , he could have just walked months ago.

I suspect AL is going nowhere without a fight.

 

16 minutes ago, League one forever said:

Quite. 
 

What creditor/club/source goes into admin saying, ‘don’t worry we have already secured funds for the admin period to avoid going bust’ it doesn’t sound or feel like the usual crisis statements coming from clubs in our position. It feels planned and meditated for a specific result. 


Don’t forget that the Administrator will be one appointed by Blitz under the terms of the mortgage debenture.  He will therefore do whatever Blitz wants him to do.  It doesn’t necessarily mean insolvency and Blitz has too much to lose were that to happen.

 

Normally, the administrator under a mortgage debenture would have the sole instruction to recover the amount due to Blitz (and Blitz alone) from assets and a MD tends to be all encompassing.  In this case though, I don’t think this is about recovering money.  It’s about a change in ownership of the Club.  I also think that Blitz may even satisfy other liabilities such as the tax bill to avoid formal insolvency.  As long as the Administrator can run OAFC (for Blitz) as a going concern, then there’s no issue.  I’m assuming that’s what the “funds in place’” comment relates to.

 

The worst thing that can happen in this case in my opinion is for AL to cough up in full as that’s the only “positive” option that he now has if he wants to retain ownership.  Then we will be stuck with the fucker for longer.

 

Hopefully he will see the writing is on the wall and not fight this. If it means Blitz is back as temporary owner (funder), then I can live with that.

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1 minute ago, Inspiral_Carpet said:

 

 


Don’t forget that the Administrator will be one appointed by Blitz under the terms of the mortgage debenture.  He will therefore do whatever Blitz wants him to do.  It doesn’t necessarily mean insolvency and Blitz has too much to lose were that to happen.

 

Normally, the administrator under a mortgage debenture would have the sole instruction to recover the amount due to Blitz (and Blitz alone) from assets and a MD tends to be all encompassing.  In this case though, I don’t think this is about recovering money.  It’s about a change in ownership of the Club.  I also think that Blitz may even satisfy other liabilities such as the tax bill to avoid formal insolvency.  As long as the Administrator can run OAFC (for Blitz) as a going concern, then there’s no issue.  I’m assuming that’s what the “funds in place’” comment relates to.

 

The worst thing that can happen in this case in my opinion is for AL to cough up in full as that’s the only “positive” option that he now has if he wants to retain ownership.  Then we will be stuck with the fucker for longer.

 

Hopefully he will see the writing is on the wall and not fight this. If it means Blitz is back as temporary owner (funder), then I can live with that.

This is exactly how I see it. 
 

Blitz is basically saying, if AL doesn’t pay I’ll come back in short term (through the administrator) An then quickly sell on to make the club whole. 

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It has always come down to these two people Blitz V Al,         landlord v tennant

 

We won't know more until Friday what our position will be and our future

 

What a bloody long week this will be

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1 hour ago, losesome said:

No way will AL have to pay the £600k on Friday. 

1st off the debt will have to be proven , if it is then AL will be given a set time to pay it, probably end of the month. I suspect the £70k tax bill will be paid before the winding up date.

So come Saturday we still have AL and his toxic team of imbeciles running the circus but with the threat of admin hanging over us until month end.

Should that be the situation then we have the worst case scenario of 

1/ AL pays up and the circus goes on

2/ We are put in admin and start next season with 12pts deduction and then we really are in the mire.

 

The 12 points would be this season. 

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Just says something that the large majority of fans want the club to go into administration rather than Lemsagam cough up the £670k.

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My interpretation of the late payment of wages and the unpaid taxes is that AL hoped to fund these from season card sales or at least in part from season card sales.  The income for next year being used to fund a previous years expenditure as has been the case for some time.  I can't see him getting enough money into the country, even if he has the funds, given all the money laundering regulations so the outcome next Friday will be administration unless an agreement is reached between Blitz and AL, which seems impossible given what we have heard about his having a defence to the action.

 

If the FFP budget is £2million an owner can't introduce another £1million to increase the FFP budget unless the money is given to the club so it follows that if AL has introduced funds to pay the players wages he can't under FFP treat the football club as owing him the cash introduced.  He may have lent money for other purposes but he will be the last person to get anything under administration.

 

I'm in the bring it on camp.

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3 minutes ago, Midsblue said:

Just says something that the large majority of fans want the club to go into administration rather than Lemsagam cough up the £670k.

I think that is due to the fortunate set of circumstances that sees us 19 points clear of relegation but with no realistic chance of promotion. 

 

If we were closer to promotion or relegation I doubt fans would be so keen for administration. 

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44 minutes ago, jorvik_latic said:

 

The 12 points would be this season. 

Not if into admin after 27 March

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Posted (edited)
47 minutes ago, jorvik_latic said:

 

The 12 points would be this season. 


Does a Creditor appointing an Administrator under a Mortgage Debenture “qualify” for a 12 point deduction under EFL rules?  As long as the business is run as a “going  concern”, I think it may just be seen as temporary change in decision making until the debt is satisfied as opposed to formal insolvency.


To clarify, the Court isn’t normally involved in Admin under a mortgage debenture as it’s a right given in a written clause.

 

I could be wrong so don’t want to give false hope though.

Edited by Inspiral_Carpet

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1 minute ago, Inspiral_Carpet said:


Does a Creditor appointing an Administrator under a Mortgage Debenture “qualify” for a 12 point deduction under EFL rules?  

Yes

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Posted (edited)
14 minutes ago, Inspiral_Carpet said:


Does a Creditor appointing an Administrator under a Mortgage Debenture “qualify” for a 12 point deduction under EFL rules?  As long as the business is run as a “going  concern”, I think it may just be seen as temporary change in decision making until the debt is satisfied as opposed to formal insolvency.

 

I could be wrong so don’t want to give false hope though.

With my amateur research on behalf of the Trust, I found an EWG article with regards to insolvency, clubs and if there were supporters Trust in situ, rather than support if it was Administration....but I could be wrong

 

EWG PROGRESS REPORT – December 2018. Sports Minister welcomes improved engagement between clubs and supporters

Insolvency and assistance to supporters’ trusts to bid for club ownership

 

A reminder that The EFL’s Insolvency Policy includes that in the event of any of its clubs falling into insolvency that the insolvency practitioner assigned will be required to meet with that club's supporters’ trust, and the trust given the opportunity to bid for the club.  Discussions between The FA and EFL with R3: The Association of Business Recovery Professionals, to develop best practice guidance for the insolvency profession are continuing.

 

Furthermore, should the owners of any football club give consent to sell the club to its supporters, then the supporters’ trust of clubs from the EPL, the EFL and the National League can apply, via Supporters Direct, to the Fans Fund Panel for help with professional fees needed to put together a credible bid.

 

Supporters Direct are continuing to build on existing networks to develop the database of suitable professional experts willing to provide pro-bono advice to supporters’ bids.  The database is expected to be in place by the end of the current 2017/18 season.  Once available the database will also be a useful tool for clubs looking to recruit additional skills and expertise onto club boards.

 

SD are also continuing to work on a proposal for the FA to consider on giving supporters the first option on reforming the club in the unfortunate event of a club being liquidated.

 

END

 

Note: SD are now FSA. Something that maybe Trust or PTB might be able to tap into and maybe with FLG  too?..pooling and combining resources but this is just my thoughts only. It hinges on Friday really

 

Edited by underdog

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7 hours ago, Magic Mikey said:

Oh, the thought of Barry biting a pillow on D wing. 

 

Big Baz would definitely be a giver. 

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1 hour ago, underdog said:

It has always come down to these two people Blitz V Al,         landlord v tennant

 

We won't know more until Friday what our position will be and our future

 

What a bloody long week this will be

 

Can’t for the life of me understand why AL would want to cough up another £670k...it would effectively be like flushing it down the toilet. If I was him I’d be cutting my losses and getting the hell out!

With a -70% fire sale going off in the club shop, season tickets available in February and a hard core fan base down to well under 3k IMO, hopefully, it all points to an early exit!!

He and the other 🤡’s have royally fucked up.

 

🙏🙏🙏Bring it on!!! 

 

***********ABDALLAH OUT***********

 

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"We have been working hard since regaining control of Oldham Council to resolve the long running saga of Oldham Athletic. The deal reached will give the council an asset we can develop and allow the club to redevelop Boundary Park. We made this a priority.

We have been impressed at the dedication shown to the club by Simon Corney and we are hopeful a new stand complete with conferencing and other commercial activity will secure the long term future of Oldham Athletic for the town." - JIM McMAHON as Leader of Oldham Council, July 2011, following newspaper reports of £5.7 million cash injection of public funds by Oldham Council in to a private business.

                            ******************

With news of Oldham Athletic on the brink of administration and stories circulating in the national media of millions of pounds disappearing, including the planned 'conferencing and other commercial activity' predictablely not materialising, questions are once more being raised over the absence of care and attention paid by JIM McMAHON and Oldham Council with c£6 million pounds of public money. 

Some background for people who are trying to make sense of what has taken place. 

- In May 2012, Oldham Council paid the club £3.38m for a site in nearby Failsworth, called the Lancaster Club, but Oldham Athletic did not retain that money. Instead it paid the £3.38m immediately to a company owned by Blitz (previous owner). 

- Strangely, on the same day, Oldham Council made an additional payment to the club for the Lancaster Club site, of £1.2m, specifically to develop the North Stand. 

- The £1.2 million is in addition to the £700,000 grant the Council had given Oldham Athletic the previous year, also to build the stand and requiring the club to maintain community programmes and other social benefits.

- Oldham Council also renegotiated the club’s lease on its Chapel Road training facility on favourable terms.

- I am not the only person who has been unable to find any paperwork relating to the community programmes the football club undertook or how Oldham Council measured these 'social benefits' from a grant of just under £2 million to a private business. 

- It is now also common knowledge that Oldham Athletic do not own the new North Stand that was built using Oldham tax payers money.  

- As for the land the Council bought for £3.38 million, the scheme collapsed. It appears that the Council had purchased the site without market testing the viability of the scheme they had purchased the land for. 

- Lancaster Gate is now a housing development. As with other land sales involving JIM McMAHON whilst Leader of Oldham Council, I have been unable to source valuations at point of purchase and sale. 

This is a recurring pattern with Oldham Council. Those following my posts will know of the sale of GLODWICK BATHS during purdah days before AROOJ SHAH was up for re election. JIM McMAHON was also involved in this transaction where a public asset was sold below market value to declared associates of his now parliamentary assistant. 

Similar question marks also exist over the sale of Royton Youth Centre to Dr CHAUHAN, another one of Jim's close colleagues. And interestingly, the sale of land adjacent to Alexandra Park to Cllr SAHID MUSHTAQ's brother and business partner. Why interestingly? It seems he's building a commercial football facility there, something that the Council originally promised to build at Lancaster Gate!

- I'm also hearing there are also questions being raised over the purchase arrangements of at least one plot on this development. For clarification, this information was provided to me weeks ago and before news of Oldham Athletic's current predicament emerged a few days ago. 

Once again, as with numerous other schemes where tens of millions of pounds of public funds have been squandered on harebrained ideas, the debacle at Oldham Athletic is yet another example of JIM McMAHON playing fast and loose with millions of pounds of Oldham Tax Payers money. 

Unfortunately for Jim, because of what is now emerging, it seems that in this case at least, this is not just a case of wasting money that does not belong to him. 

People following my posts will know that JIM McMAHON has been liaising with the Serious Fraud Office. He's made this public. I am in no doubt that he has done so in an attempt to intimidate me because of my bringing to public attention what I consider to be severe failings by him and his stooges that run Oldham Council.

I think it's now well past time that those that currently claim to run Oldham Council, including Dr CAROLYN WILKINS and SEAN FIELDING, call in the SERIOUS FRAUD OFFICE regarding just short of £6 million belonging to the Oldham Council Tax Payer that was handed over by JIM McMAHON to Oldham Athletic.

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44 minutes ago, underdog said:

With my amateur research on behalf of the Trust, I found an EWG article with regards to insolvency, clubs and if there were supporters Trust in situ, rather than support if it was Administration....but I could be wrong

 

EWG PROGRESS REPORT – December 2018. Sports Minister welcomes improved engagement between clubs and supporters

Insolvency and assistance to supporters’ trusts to bid for club ownership

 

A reminder that The EFL’s Insolvency Policy includes that in the event of any of its clubs falling into insolvency that the insolvency practitioner assigned will be required to meet with that club's supporters’ trust, and the trust given the opportunity to bid for the club.  Discussions between The FA and EFL with R3: The Association of Business Recovery Professionals, to develop best practice guidance for the insolvency profession are continuing.

 

Furthermore, should the owners of any football club give consent to sell the club to its supporters, then the supporters’ trust of clubs from the EPL, the EFL and the National League can apply, via Supporters Direct, to the Fans Fund Panel for help with professional fees needed to put together a credible bid.

 

Supporters Direct are continuing to build on existing networks to develop the database of suitable professional experts willing to provide pro-bono advice to supporters’ bids.  The database is expected to be in place by the end of the current 2017/18 season.  Once available the database will also be a useful tool for clubs looking to recruit additional skills and expertise onto club boards.

 

SD are also continuing to work on a proposal for the FA to consider on giving supporters the first option on reforming the club in the unfortunate event of a club being liquidated.

 

END

 

Note: SD are now FSA. Something that maybe Trust or PTB might be able to tap into and maybe with FLG  too?..pooling and combining resources but this is just my thoughts only. It hinges on Friday really

 

The thought of The Trust running the club makes me want AL to settle the debt and carry on 

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1 minute ago, mcfluff1985 said:

The thought of The Trust running the club makes me want AL to settle the debt and carry on 

Stop clogging the board up with stupid remarks.

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Posted (edited)
4 minutes ago, mcfluff1985 said:

The thought of The Trust running the club makes me want AL to settle the debt and carry on 

I know the article says supporters trust, but that was in 2018. There are other types of supporter organisations in existence

 

I posted it to show that there might be some support out there that as fans we could tap into

Edited by underdog

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5 minutes ago, pk200 said:

Stop clogging the board up with stupid remarks.

Is it stupid? Never seen you post anything remotely worthy of reading. 

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1 hour ago, Dave_Og said:

Not if into admin after 27 March

 

Correct. But Friday is before that. 

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3 minutes ago, underdog said:

I know the article says supporters trust, but that was in 2018. There are other types of supporter organisations in existence

 

I posted it to show that there might be some support out there that as fans we could tap into

I think fan ownership would kill us financially. Darren being in charge, no doubt with Barry in tow would be awful too

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4 minutes ago, jorvik_latic said:

 

Correct. But Friday is before that. 

Not convinced here won't be some sort of adjournment

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