Lookers_Carl Posted October 12, 2009 Share Posted October 12, 2009 lads please debate all yers like but watch the effing and jeffing please, Quote Link to comment Share on other sites More sharing options...
jorvik_latic Posted October 12, 2009 Share Posted October 12, 2009 BINGO At last someone sees what is happening. But that is no different to day to day business life imho. Look at this another way. The BP land being in the name of "a n other" company means that if someone were to sue oafc or oafc went into administration, the assett couldn't be reclaimed by the administrator/liquidator of the club. Does the Southampton situation ring any bells now? The ground is then secure. So we could end up with Oafc (2004) Ltd which is basically the football club and Oafc holdings Ltd which owns the ground and any other assets. Capiche. Cheers, Harry Sorry mate, got to pull you up on this as it is one issue which worries me. It will be more difficult to sell the club if we are in administration at any point as we will be in a similar situation as before with no assets apart from the players! Quote Link to comment Share on other sites More sharing options...
lookers87 Posted October 12, 2009 Share Posted October 12, 2009 Sorry mate, got to pull you up on this as it is one issue which worries me. It will be more difficult to sell the club if we are in administration at any point as we will be in a similar situation as before with no assets apart from the players! to a point but I think Harry's point is that this is pretty standard business practice when it comes to large assets/buildings like the stadium from tax/organisation etc, etc. point of view. That's why the brassbank argument has a little of the 'red herring' about it. Unless anyone knows the exact workings of initial investment/setup/tax etc etc or is the accountant/business advisor etc that worked on the initial deal or since then a little knowledge is dangerous (as the saying goes). To your point jorvik, you do have a valid point, and are right to question it. However, even if we did own and in the event of another admin, in a traditional sense the assets are likely to be sold by the admin with or without the club to realise the best value for the creditors. Which just brings you back to the current trading situation ie. the reason it was done under the 'brassbank' company in the first place. Because I assume it was the best way to structure the business/deal in order for run the club over the past few years. Quote Link to comment Share on other sites More sharing options...
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