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PeteG

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Everything posted by PeteG

  1. PeteG
    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.
  2. PeteG
    Is there anyone from the Foundation who is on here these days?
  3. PeteG
    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.
  4. PeteG
    So it's quite complex!!
  5. PeteG
    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
  6. PeteG
    Pity Phillipa isn't still involved.
  7. PeteG
    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?
  8. PeteG
    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.
  9. PeteG
    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.
  10. PeteG
    I believe a dispute has been lodged and would block any potential sale
  11. PeteG
    Nobody will be able to purchase the ground whilst there is dispute and potential legal case.
  12. PeteG
    Club being a Golf Club i've heard
  13. PeteG
    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.
  14. PeteG
    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.
  15. PeteG
    Your absolutely correct and probably not a huge deficit, if the ground had been purchased and didn't have a mortgage over it or a lease. Let's face it if we are currently running at a deficit of between a £1 million and £1.5 million could you if you ran the club well and have the ground 7 days a week raise that additional £1 - £1.5 million? I'd say so, but you still need to find approx. £8 million to see off the existing 2 parties.
  16. PeteG
    I want the club to be well run and competing at a level I feel we should be which is at least in the top half of league 1. If an owner came in with decent intentions and put a decent budget together, had access to the ground 7 days a week to generate funds, we could easily get out of league 2. This would encourage more fans and i don't think getting gates of 5000 is beyond being realistic. Given that being the case we could be pushing at the right end of league 1. Whether that will happen is debatable but i predict we are heading for administration before the start of next season and whilst the trust may have good intentions time is against them and us as fans generally
  17. PeteG
    I agree but we are talking about running costs of approx. £1.5 million per year. 2500 fans donating £600 per year every year on top of buying season tickets, merchandise etc. for me makes it a non-starter
  18. PeteG
    We are not alone that's right, but most other clubs who have a lease in place with their landlords get the right to run the ground 7 days a week. If that was the case it wouldn't be a massive issue and the club could benefit and generate income from the ground.
  19. PeteG
    This isn't really the point though. We can all state what a mess Abdallah has made of it but the point now is how we move forward. I could be wrong but i don't see fans raising the type of money we are talking about being required. Whoever wants to take over the club has to negotiate with 2 parties which is far from ideal
  20. PeteG
    I would like to think it's in our own hands but really it isn't. We have no chance of raising the sort of money required to own the ground and the club as fans and then also to run the club. The players wage bill is approximately £1 million per year and that's for a squad that isn't good enough. Then there are the other staffs wages, upkeep of the ground, pitch and loads of other costs that most of us won't have even thought of. Football clubs lose money so it has to be funded and i can't see enough fans willing to pump in the deficit. We need someone to buy the lot and as we need 2 parties to agree to that i don't see it happening. Administration is our best case to get the club but that means -12 next season and the likelyhood of going out of the football league. We would need someone to buy the ground off Brassbank and given you could get Wigan with a relatively brand new stadium, training ground etc for £3 million we aren't an attractive proposition. Nobody in their right mind would ever just buy the football club again.
  21. PeteG
    Lots to be honest, i thought it was very good. I found it refreshing there seems to be a plan which revolves around youth and the academy in particular. Also good that Karl feels he has a lot to offer on the North Stand situation. The Wheater situation is no clearer unfortunately but it seems there is issues around fitness but what was clear is he isn't in the plans so maybe it's time to move on from that. Also good to get an understanding of the difficulties the club faces on a daily basis coping with Covid and a nice bit of transparency regarding the finances etc. All the whole i found it a really good listen.
  22. PeteG
    What is interesting is this is the only thing that you took from the interview and you seem to know a lot about said game and the twitter user Dmaarms was the only one that wanted this game questioning to the CEO
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