Foreign backer in Latics talks

[KUNGFOO]

 

intresting of the chron btw

 

ATHLETIC’S owners have held talks with a mystery foreign investor who is prepared to buy a 50 per cent stake in the Boundary Park club.

 

Simon Blitz, Simon Corney and Danny Gazal insist, however, they have no intention of selling, or even relinquishing control, of the club they bought five years ago.

 

But they say that they are interested in new investment if it would allow them to achieve their goals, both on and off the field.

 

Managing director Mr Corney admitted that a deal to bring in new investment is still “a long way off.”

 

He added that the fact the new investor wants a half share in the club and the current owners want to keep a 50-per-cent stake is a potential problem as Trust Oldham hold three-per-cent of the shares.

 

“That could be an issue further down the line and we might have to ask the Trust whether they would relinquish their shares,” he explained.

 

Mr Corney added that the owners have turned down at least a dozen previous offers from would-be investors.

 

He said: “We have had lots of people approach us and we could have brought somebody in some time ago, but we have rebuffed them because we don’t want to sell.

 

“We have always maintained, however, that if the right investment is offered to us, we would look at it if it enables us to improve things.”

 

Mr Corney added that the owners would welcome John Wardle, a former chairman and major shareholder at Manchester City, on board.

 

Mr Wardle, who made a fortune as co-founder of the JD Sports retail chain, has already been involved as a shirt sponsor during Athletic’s Premier League days.

 

Since his departure from City, Mr Wardle has expressed an interest in returning to football but Athletic say it is wide of the mark to suggest a link-up is imminent.

 

Mr Corney said: “John Wardle is a good friend of both myself and chief executive Alan Hardy.

 

“It has been suggested that he wants to get involved now because Joe Royle has returned, but we had already spoken to him some time ago and he has been to a game as our guest.

 

“If John Wardle wanted to get involved we would be interested. It would not simply be about money, but about his expertise and experience of being chairman of one of the biggest Premier League clubs.”

[oafc0000]

“That could be an issue further down the line and we might have to ask the Trust whether they would relinquish their shares,” he explained.

 

Well that's a interesting point...

 

My biggest concern with the issue of investment and the remote chance of new owners is to say a big no to the return of the Chris Moores days!

 

This said I would suggest that any deal which keeps the 3As in charge should be view as positive and the trust should sell. I think the 3As have proven not to be another Chris Moores or a danger to the club.

 

Any offer would have to be looked at but I don't want the trust stopping any deal which would be good for Oldham. What I am trying to say is it is not a requirement in my eyes for the trust to hold shares and they should be willing to sell (as long as they are happy its for the good of the club).

 

EDIT: It would be a positive thing for the trust to actually get that bag of money. Put it away safe maybe for any future issues! I would imagine the shares are worth more now than they where when we acquired them ?

Edited March 20, 2009 by oafc0000

[ritchie82]

The trust should back TTA. If they are sure we will be in safe hands then the Trust should be sure.

 

I have heard a rumour it could well be The Raja Bros who are interested.

[ghostofcecere]

I really hope this isn't the begining of the end of TTA at BP, they have been the best owners/majority shareholders we have had at the club. The club was saved and the ship steadied as we were heading for oblivion.

 

I have been critisied on this board for my opinion that their aim with Latics was ultimatley make a few bob from the property development that was/is planned, otherwise why buy Latics and not say Notts County? But as I have stated before, this is no critisism of TTA, I have absolutely no problem with this, we got to keep our football club and TTA get to make some money. After all they are business men. And for what it's worth, I do beleive that they are genuinely Latics fans now this far down the line.

 

I welcome any investment that can take us forward, but I hope we proceed with caution. We NEVER want to return to the Chris Moore days.

 

Potentially intersting decision ahead for Trust Oldham though

[opinions4u]

There is something reassuring about the Trust holding a minor share, but I can understand an investor not wanting it to be a 'controlling minority' (e.g. 48.5% TTA, 48.5% Jonnie Foreigner and 3% Trust).

 

 

[Senor_Coconut]

It's just our Bulgarian friend from the other week trying his luck again.

 

 

Pay no attention.

[Ackey]

There is something reassuring about the Trust holding a minor share, but I can understand an investor not wanting it to be a 'controlling minority' (e.g. 48.5% TTA, 48.5% Jonnie Foreigner and 3% Trust).

Without being rude to the trust - several of my friends are on it's board - it's share of Oldham Athletic is less than worthless. It gives them no power whatsoever. The fact that they paid something like £200,000 for it (IIRC?) is crazy!

[johnny punkster]

It's just our Bulgarian friend from the other week trying his luck again.

 

 

Pay no attention.

 

who...this one?

 

http://www.owtb.co.uk/index.php?showtopic=...mp;#entry230382

[oafcmetty]

Without being rude to the trust - several of my friends are on it's board - it's share of Oldham Athletic is less than worthless. It gives them no power whatsoever. The fact that they paid something like £200,000 for it (IIRC?) is crazy!

It wasn't purchased for 'power' reasons Ackey. It's a way in, a foot in the door. Talk to Dave Ogden about the problems faced during the SAFE days. Holding that 3% gives us a seat on the board - a chance for the fans to be heard, and for our representative to at least know what's going on.

[opinions4u]

If required, could those shares be changed for some sort of preference shares that pay a nil dividend but guarantee a seat on the board?

[edhunteruk]

If required, could those shares be changed for some sort of preference shares that pay a nil dividend but guarantee a seat on the board?

 

if tta's have found a decent backer,then its upto them,i seriously doubt they would sell us down the river so to speak,and i would imagine there would be lots of clauses n stuff in any contract.

providing they keep hold of a controlling stake,then a cash injection would be welcomed,especially if we go up,better quality of players etc etc.

[daz_oldham]

It wasn't purchased for 'power' reasons Ackey. It's a way in, a foot in the door. Talk to Dave Ogden about the problems faced during the SAFE days. Holding that 3% gives us a seat on the board - a chance for the fans to be heard, and for our representative to at least know what's going on.

 

I think it would be extremely short sighted of the Trust to let that shareholding go without a) getting their money back and setting up an alternative scheme to get fans representation.

 

It would be interesting to see what exactly this investor wants a slice of - the football club (Oldham Athletic Football Club 2004 Limited) of which Trust Oldham own their share, or Brassbank Limited which (I think) owns the land around the ground... when I was involved in the Trust I asked for clarification on this numerous times, but it was never forthcoming - as was information on how much each of our owners actually owns.

 

Buying 50% of Oldham Athletic would presumably buy you 50% of a football club... with no tangible assets other than playing staff - and who in all honesty sees that as an investment?

 

 

 

 

[Ackey]

It would be interesting to see what exactly this investor wants a slice of - the football club (Oldham Athletic Football Club 2004 Limited) of which Trust Oldham own their share, or Brassbank Limited which (I think) owns the land around the ground... when I was involved in the Trust I asked for clarification on this numerous times, but it was never forthcoming - as was information on how much each of our owners actually owns.

Nothing against you personally here Daz - but this shows that the 3% doesn't really get us all that much information now does it?

[daz_oldham]

Nothing against you personally here Daz - but this shows that the 3% doesn't really get us all that much information now does it?

 

Nothing personally taken Ackey. However, it does get us something that "money can't buy" and that's a direct hand in the day to day running on the football club and an ear very much to the ground.

 

I do have reservations as to the relationship with the club and Trust from a practical perspective - and I did when I was a Trust director... but these are things that can (and should) be fixed for the good of both parties.

 

Should the Trust dispose of this 3% shareholding and make a dramatic loss in the process, it must be at the expense of clauses being put in place that they get first refusal on any stakes that are sold on the club in the future (at the same price) and that the new ownership consortium supports the Trust in organising a Fans Parliament (like they have at Wolves).

 

You've also got to ask why they don't want the trust involved... after all, they are only there to help, not hinder - and I don't think that our present owners can claim that Trust Oldham has ever held the club back in any way... Barry has proven to be an invaluable asset to them.

[oafc0000]

and for our representative to at least know what's going on.

 

You mean the ghost we seldom see or hear from....

Edited March 20, 2009 by oafc0000

[Dave_Og]

It wasn't purchased for 'power' reasons Ackey. It's a way in, a foot in the door. Talk to Dave Ogden about the problems faced during the SAFE days. Holding that 3% gives us a seat on the board - a chance for the fans to be heard, and for our representative to at least know what's going on.

In SAFE days we tried and tried to talk to Moore but never got anywhere. The money the shares cost is irrelevant - what else would it have been spent on? Anything that gives fans representation is good.

[Barryowen]

You mean the ghost we seldom see or hear from....

oafc0000 you are perfectly well aware that I am not remote from the fans.

 

In the past I have been strongly persuaded not to participate in the many debates that occur on the board. Don'y ask me why but that has always been the case.

 

In the early days I was often subjected to much abuse and perhaps I too have learned a great deal since then.

 

I love representing the interest of the fans and that is my first and foremost responsibility. Metty hits the nail on the head with our participation in the club and why it is so important to have representation within. I have seen it mentioned that our percentage is worthless. If that is the case why does another shareholder require us to relinquish our interest.

 

Shareholding in a football club, whatever the holding has little value. The assets are retained in the ownership of the land etc.

 

Simon Corney has kept me well informed of this current interest and matters are a long way from being settled. I have my personal views about Trust involvement and when or if any proposals are put to the Trust these will be discussed with the Trust Board and its solicitor. Thereafter nothing will occur without full consultation with Trust members.

 

The Trust wil always work with the best interests of Oldham Athletic in mind both at the current time and with an eye on the future. I often see the opinion expressed that Trust Oldham works too closely with the club. I make no apology for having the alternative view. We do not exist to be obstructive or difficult because we gain little respect from the ownership. We all exist to make the club better and work together with that aim in mind. That is why I believe that Trust Oldham retains respect and integrity within the game.

 

It was great to see a lot of fans at the do in Shaw last night. I am always available to speak to any fan or group of fans on any matter. This occurs on a regular basis but is not obviously reported on.

 

Keep the Faith and enjoy tomorrow.

 

 

Barry

[wardlelatic]

Without being rude to the trust - several of my friends are on it's board - it's share of Oldham Athletic is less than worthless. It gives them no power whatsoever. The fact that they paid something like £200,000 for it (IIRC?) is crazy!

 

With all due respect Ackey this statement is both false and misguided. The trust hold a power that ensures that nothing can happen to OUR club without the trust knowing the foundations of any agreements or plans to sell any elements that make the club whole, ie, BP and club itself.

 

The £200, 000 invested in the club is and will continue to be a shareholding of the clubs interest for the fans.

 

The Chron today have taken hearsay comments probably made by a rambling from one of TTA in possible plans for the future.

 

I can confirm that:

 

The club have not asked the Trust to give/sell its 3% share of the club

Any NEW invester is only sounding out ideas with the club, at this stage nothing more nothing less.

The trust board have not been informed of any request by TTA to put into action any proposal to be put to its members about the 3% stake in the club.

 

The Trust will always do what is best for the club LONG TERM, if we feel that the club would benefit with new owners we would look at the fit and proper way to allow the TRUST share of the club to be used.

 

The £200, 000 stake in the club is a bond that is the Trusts' I'm not privy to all the financial implications of the bond but I would believe that a reinbursement is looked into if the TRUST were to SELL its stake.

 

Ackey, you say

3% doesn't really get us all that much information now does it?

The Trust is not at liberty just like Alan Hardy, Simon Blitz or even Stu Vose to give out information that is not prevalent to everyday operations and club matters.

 

I can personaly ensure its members and other fans that the Trust has been very important in directing the club to ensure the fans needs and beliefs have been catered for and indentified.

Examples of this are Season Ticket prices, Fans welfare, ongoing sponsorship of club events and personel and helping the club with the jobs it can not do FULLY on its own.

 

The 3% stakeholding in the club is the voice of the fans, Barry and other members of the trust do MANY jobs everyday for the club that never get reported and mentioned but are welcomed and encouraged by TTA

 

3% of the club may not seem alot but due to the due diligence of the people involved from the SAFE tines and the formation of Trust Oldham, the 3% can stop any unwelcome activity at the club and help safe guard the clubs interest for the future

 

Barry is open to chat to people about Trust matters and he has tried to on a few occassions to answer questions on here, I can understand the frustrations of fans when all questions are not answered in the way everyone likes or not at all, Answers to questions can only be given if they dont hindrance the club or its business in any way.

 

I would say 80% of fans know who Barry is, if you want to ask him a questions, stop and ask him. If the question cant be answered there and then a time will be made to answer your question.

 

Being a member of the Trust ensures you have a say when these kind of matters arise. The trust is holding its AGM shortly if anyone has any questions let me know by PM or email me from the Trust Oldham Website you can stop and ask if you know who I am.

 

Richard Attwood - Trust Director

[Diego_Sideburns]

3% of the club may not seem alot but due to the due diligence of the people involved from the SAFE tines and the formation of Trust Oldham, the 3% can stop any unwelcome activity at the club and help safe guard the clubs interest for the future

 

The above paragraph sums up the importance of the Trust's existence.

 

It's easy to knock from the sidelines, but I am satisfied that the Trust and Barry in particular (e.g. Lee Hughes negotiations and PR since the signing) continue to do a good job in the fans' interest to the benefit of the Club.

[opinions4u]

I think we need to ask ourselves a question:

 

Would we, as supporters, be better off without the Trust having:

i) A 3% shareholding

ii) A seat on the board

 

My view is that (ii) is probably more important than (i), but given that it has been suggested that the 3% share is a possible obstacle to somebody buying in to the club, it clearly has some value.

 

Would I like somebody to build us a shiny new stand and improve the squad? Too right.

 

Do I want that to be paid for by a debt mountain that can't be repaid and threatens the future existence of Oldham Athletic? That doesn't even need answering.

Edited March 21, 2009 by opinions4u

[oafc0000]

oafc0000 you are perfectly well aware that I am not remote from the fans.

 

In the past I have been strongly persuaded not to participate in the many debates that occur on the board. Don'y ask me why but that has always been the case.

 

Barry

 

What you call abuse was often constructive critisim. Sometimes some people went way over the top but that is the nature of the beast of being a public figure head and those people can be easily ignored. The solution was not to retreat and never speak to the people you repersent.

 

You have a post count that reads 24. I would suggest its about a balance. We never hear from you! As a fans repersentive do you really think that is not being remote? I have looked on the trusts own website and there is very little from you talking about whats going on. To be frank I think newyorkboss has probably posted more than you have.

 

Feel free to claim you are not remote but if your never here I dont know what else to call it. Where else can hear your views ? My life at Oldham Athleitc like many revolves around going to the pub untill 2:30 and then getting to the ground for 2:50 and watching the game! (Which would change hopefully when we have nice new stuff in our ground )

 

How about a blog talking about whats is going on ? I was very excited about the fan on the board when it was first annouced but I think the fact we have only had one fan do it and we never hear from that fan has turned the whole thing into a dissapointment...

 

That said, I do think you have done some good things during your time...

Edited March 21, 2009 by oafc0000

[oafc0000]

I think we need to ask ourselves a question:

 

Would we, as supporters, be better off without the Trust having:

i) A 3% shareholding

ii) A seat on the board

 

My view is that (ii) is probably more important than (i), but given that it has been suggested that the 3% share is a possible obstacle to somebody buying in to the club, it clearly has some value.

 

Would I like somebody to build us a shiny new stand and improve the squad? Too right.

 

Do I want that to be paid for by a debt mountain that can't be repaid and threatens the future existence of Oldham Athletic? That doesn't even need answering.

 

 

I would agree with that....

[footy68]

Barry

 

What you call abuse was often constructive critisim. Sometimes some people went way over the top but that is the nature of the beast of being a public figure head and those people can be easily ignored. The solution was not to retreat and never speak to the people you repersent.

 

You have a post count that reads 24. I would suggest its about a balance. We never hear from you! As a fans repersentive do you really think that is not being remote? I have looked on the trusts own website and there is very little from you talking about whats going on. To be frank I think newyorkboss has probably posted more than you have.

 

Feel free to claim you are not remote but if your never here I dont know what else to call it. Where else can hear your views ? My life at Oldham Athleitc like many revolves around going to the pub untill 2:30 and then getting to the ground for 2:50 and watching the game! (Which would change hopefully when we have nice new stuff in our ground )

 

How about a blog talking about whats is going on ? I was very excited about the fan on the board when it was first annouced but I think the fact we have only had one fan do it and we never hear from that fan has turned the whole thing into a dissapointment...

 

That said, I do think you have done some good things during your time...

 

 

Personally I'm all for a fan being on the board, but some issues should remain the business of the board. To openly discuss all aspects of business would leave the club in a mess. Are you suggesting a PLC board openly discuss everything the decide? They act on behalf of the shareholders without publicly broadcasting every minute detail to their competitors.

 

[Lukers1]

The above paragraph sums up the importance of the Trust's existence.

 

It's easy to knock from the sidelines, but I am satisfied that the Trust and Barry in particular (e.g. Lee Hughes negotiations and PR since the signing) continue to do a good job in the fans' interest to the benefit of the Club.

Akey, to say you are a mod that post was unjust, misguided and dissapointing to read, if I am way of the mark then sincere apologies..

[oafc0000]

Personally I'm all for a fan being on the board, but some issues should remain the business of the board. To openly discuss all aspects of business would leave the club in a mess. Are you suggesting a PLC board openly discuss everything the decide? They act on behalf of the shareholders without publicly broadcasting every minute detail to their competitors.

 

I never suggested that!!! I respect that some things need to be kept quiet...

 

What I have suggested that only 20+ posts is way off the communication levels I and others expect... its about a blance...

 

At the moment the trust is poorly supported and the fan on the board has not changed in 5 years and is seldom heard from... Its all a little wrong...

 

I do support the idea of a fan on the board though///