PeteG
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Everything posted by PeteG
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Understand what you are saying but surely the Council can see the importance for the local economy of having a thriving football/rugby team as well as providing sporting facilities for the community as a whole.
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Agreed and knowing this surely this is where as fans our efforts should be aimed.
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It's not a claim either, it's surely a well known fact the council stumped up that sort of money and it's not up for debate. What might be up for debate is who that money was intended for.
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That's interesting that the council can CPO it, problem is the valuation, aren't we talking treble what Gigg Lane went for?
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It's all in the council meeting minutes which I think are in the public domain or at least available if you request them.
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You never know but i could see the council's reluctance having previously stumped up over £5 million
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Agreed, unless both parties were aware of it and completely ignored it???
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It's our rented home. It does not belong to the football club and as it stands we will be out of it in 9 years.
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Did the council even know?
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Agreed, however from a financial perspective and sustainability and dare I say the opportunity to have a little success will always be extremely limited if we can't generate income except for 23 days a year. Imagine having a business with expenses 365 days a year but only having 23 days a year to bring income in? It would be ok if we were renting the ground from say the council but operated the whole thing 7 days a week allowing the club generate other income streams.
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That's literally the case now. Let's not pretend we have our own ground now and one of the major reasons that suitable buyers are not lining up to buy the club.
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Agree with this. I'm not sure you can just "invest" all your profits in order to avoid tax. I think there is a limit which might be something like 30% of your profits can be invested although i'm no expert. I honestly think it's a bit of a minefield.
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Is there anyone from the Foundation who is on here these days?
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That is true. However, i think this needs looking into as a matter of urgency because to make any significant difference we need to raise as much as possible and to lose a fifth makes a really difficult job even harder. I'm sure the board at the foundation have it all covered but it would be nice to be informed.
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So it's quite complex!!
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That's possible but there has been no change to how the company is set up and therefore the donations that have been received to date will be liable to corporation tax I assume
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Wouldn't it have been advisable to look this before accepting donations? Surely the donations they have already accepted are now liable to corporation tax?
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Thanks @underdog I always thought it was a charity, my mistake. Good job because it does have limitations on how funds can be used. So the next question would be as i'm no accountant, would the donations be taxable? For example the foundation receives a million quid and has made that sort of profit, i'm assuming they would be liable for corporation tax at 19% meaning we lose almost a fifth of everything we raise. Perhaps @Dave_Og knows, he seems to have a financial background.
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I'm assuming that OASF is a registered charity. Perhaps @underdogknows the answer because it has implications as to what it can invest in if it raised this £1 million.
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OASF1895 Lottery weekly results
PeteG replied to OASF1895 Lottery's topic in The opinions4u Terraces - Latics Forum
I believe a dispute has been lodged and would block any potential sale -
OASF1895 Lottery weekly results
PeteG replied to OASF1895 Lottery's topic in The opinions4u Terraces - Latics Forum
Nobody will be able to purchase the ground whilst there is dispute and potential legal case. -
Club being a Golf Club i've heard
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Spoken to Barry who is a friend of Paul Murray who had phoned Barry and his first words were i've been sacked this morning. Present at the meeting were Keith Curle and Mo Lemsagam, no real reason given. Paul Butler left a while ago and I believe he is joining Barnet.
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I'm fully aware of one party who enquired about buying the club last year. They were looking at Championship clubs prior to this and tbh £10 million would have been chicken feed for them. However, they were not prepared to deal with 2 parties and made it clear that Abdallah would have to purchase the ground from Brassbank and then they would buy the lot from Abdallah. They contacted the clubs solicitors but they didn't even receive a response and so took that as there was no interest in selling. They wouldn't be interested again having not had the common courtesy of receiving a reply.
