Alec1954 Posted February 28, 2011 Share Posted February 28, 2011 Hi Alec Where does it say in the artical we have received external investment, I'm baffled by your comment. Ian G. Ian, I read this as being the hint.."wages were not paid on Friday due to a cash-flow issue. This is expected to be a short-term problem which has been created by the withdrawal of development investors?" My reading was that the club has borrowed on the future sales of land to people who may have opted to buy a stake on the Failsworth site. Clearly the Board took too big a risk in believing that the land was a done deal. I was not alone when at the tunr of the year we suddenly offloaded dead wood and then bought new players.. where was all of the money coming from? I suspect we know now. Quote Link to comment Share on other sites More sharing options...
latic12345 Posted February 28, 2011 Share Posted February 28, 2011 Ian, I read this as being the hint.."wages were not paid on Friday due to a cash-flow issue. This is expected to be a short-term problem which has been created by the withdrawal of development investors?" My reading was that the club has borrowed on the future sales of land to people who may have opted to buy a stake on the Failsworth site. Clearly the Board took too big a risk in believing that the land was a done deal. I was not alone when at the tunr of the year we suddenly offloaded dead wood and then bought new players.. where was all of the money coming from? I suspect we know now. What is clear is that the club have overstretched beyond their means and that of the board of Directors. It's good timing for tonight though. Some really key questions for those going could be: What do the club mean by development investment? Why is the club now not able to cover wages? Was turnover lower in Feb (than Jan / Dec given the cold snap)? Are the wages higher (paying off players plus new players however this should have been offset by the complete lack of recent goal and win bonuses going the way of our players)? Or for the more contraversial: What the f*ck are the board of directors doing assuming future investment related to property and commercial development will come in and needing it to pay wages? Both the same questions. A stupid cock up and one I guess that cost us a 5-0 defeat Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 28, 2011 Share Posted February 28, 2011 Although some people have pulled the 'they don't deserve to get paid after sat' line, how about 'why the frig should they try if they haven't been paid' line? I am sure some of them players have families and children of their own, and the younger players are not really going to be on much more than the likes of me and you? Quote Link to comment Share on other sites More sharing options...
singe Posted February 28, 2011 Share Posted February 28, 2011 It wasn't and it hasn't. If Failsworth had been given the nod, certain companies would've been willing to put cash in. It's how business works. The firms that would've been partnering in Failsworth would've chucked some cash in and whoever would've ended up developing BP would've thrown some cash in too. Failsworth hasn't been given the go ahead, so that cash won't now be there. Sorry I don't buy that one bit The collapse of the Failsworth project should not have affected "short term" cash flow in any way. Businesses, especially in the Recession, don't just "check/throw cash in". Since Blitz withdrew, most money should have stopped on that anyway. Don't forget OAFC do not own the land, Brass Bank Ltd do, so any costs are theirs. And OAFC don;t own the Lancaster Club, so any cost is the TTA's not OAFC's. The savings account will have taken a hit, but the current account should not have. Quote Link to comment Share on other sites More sharing options...
edhunteruk Posted February 28, 2011 Share Posted February 28, 2011 Although some people have pulled the 'they don't deserve to get paid after sat' line, how about 'why the frig should they try if they haven't been paid' line? I am sure some of them players have families and children of their own, and the younger players are not really going to be on much more than the likes of me and you? erm..because there proffessional sportsmen and they are contracted to play for the club...your assuming that nobody at the club told them about this and they just checked there banks and hey..why no wages...i know...lets throw the game and show them if we dont get paid expect more of the same....bollocks... the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... Quote Link to comment Share on other sites More sharing options...
latic12345 Posted February 28, 2011 Share Posted February 28, 2011 Sorry I don't buy that one bit The collapse of the Failsworth project should not have affected "short term" cash flow in any way. Businesses, especially in the Recession, don't just "check/throw cash in". Since Blitz withdrew, most money should have stopped on that anyway. Don't forget OAFC do not own the land, Brass Bank Ltd do, so any costs are theirs. And OAFC don;t own the Lancaster Club, so any cost is the TTA's not OAFC's. The savings account will have taken a hit, but the current account should not have. But we know this isnt the case. We know Oldham Athletic have paid for at least some of the planning costs etc. I too don't but the line of "if Failsworth is still on track companies would have thrown some money in". Who and with what interest? Quote Link to comment Share on other sites More sharing options...
Macca Posted February 28, 2011 Share Posted February 28, 2011 erm..because there proffessional sportsmen and they are contracted to play for the club...your assuming that nobody at the club told them about this and they just checked there banks and hey..why no wages...i know...lets throw the game and show them if we dont get paid expect more of the same....bollocks... the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... I don't think he was suggesting they threw the game. But if you aren't being paid morale will be lower. Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 28, 2011 Share Posted February 28, 2011 I don't think he was suggesting they threw the game. But if you aren't being paid morale will be lower. Thats what I was getting at, on top of the team being on a bad run already. Quote Link to comment Share on other sites More sharing options...
singe Posted February 28, 2011 Share Posted February 28, 2011 (edited) We made the BBC headlines too. Not ina good way. BBC article here Edited February 28, 2011 by singe Quote Link to comment Share on other sites More sharing options...
Monty Burns Posted February 28, 2011 Share Posted February 28, 2011 erm..because there proffessional sportsmen and they are contracted to play for the club...your assuming that nobody at the club told them about this and they just checked there banks and hey..why no wages...i know...lets throw the game and show them if we dont get paid expect more of the same....bollocks... the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... oh dear. Quote Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted February 28, 2011 Share Posted February 28, 2011 Although some people have pulled the 'they don't deserve to get paid after sat' line, how about 'why the frig should they try if they haven't been paid' line? I am sure some of them players have families and children of their own, and the younger players are not really going to be on much more than the likes of me and you? They've been promised the money within three days. If there had been 31 days in the month and the last Friday had fallen at the end, there would have been no problem. Blimey, it's not as though they were paid early at Christmas and then not paid on time in January. This has highlighted what a serious position the Club is in, but that was obvious to anyone who has been following events. If enough BP absentees are really concerned, they have the ability to chip in and ease the cash-flow situation. The players would be glad of the support too. Quote Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted February 28, 2011 Share Posted February 28, 2011 ...the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... I worked for a local authority and that happened to me. Quote Link to comment Share on other sites More sharing options...
oafc-latics Posted February 28, 2011 Share Posted February 28, 2011 We made the BBC headlines too. Not ina good way. BBC article here on the top football stories on the front page too. but the radio interview with hardy is interesting. he says its only a short term problem, but that the fans should be worried, like he is. also hinted at moving the club out of the borough again. sounds like he's having a dig at the council but it's still a bad situation to be in. we really needed failsworth to go ahead didnt we... Quote Link to comment Share on other sites More sharing options...
Matt Posted February 28, 2011 Share Posted February 28, 2011 erm..because there proffessional sportsmen and they are contracted to play for the club...your assuming that nobody at the club told them about this and they just checked there banks and hey..why no wages...i know...lets throw the game and show them if we dont get paid expect more of the same....bollocks... the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... I think what he was trying to say is that they aren't exactly going be top of the pops about it. You can at least appreciate that morale isn't going to be terrifically high after this news was broken to them, can't you? I'm not asking to get friggin violins out, but apart from one or two in the seniors they aren't exactly going to be high earners. Quote Link to comment Share on other sites More sharing options...
edhunteruk Posted February 28, 2011 Share Posted February 28, 2011 I think what he was trying to say is that they aren't exactly going be top of the pops about it. You can at least appreciate that morale isn't going to be terrifically high after this news was broken to them, can't you? I'm not asking to get friggin violins out, but apart from one or two in the seniors they aren't exactly going to be high earners. of course there not going to be too happy about it...its happened to me twice..i wasnt happy..but i didnt sabatage the company because my wages were 3 days late...my company on both occasions said if you incurr any bank charges as a direct result of this we will sort them out,its our fault not yours... i thought first half our morale was fine,in fact i thought we just about shaded the half,and for more accurate shooting could have been in front.....so for me morale certainly wasnt an issue.....so did they just decide to give up then second half??? Quote Link to comment Share on other sites More sharing options...
Matt Posted February 28, 2011 Share Posted February 28, 2011 of course there not going to be too happy about it... There you go. Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted February 28, 2011 Share Posted February 28, 2011 erm..because there proffessional sportsmen and they are contracted to play for the club...your assuming that nobody at the club told them about this and they just checked there banks and hey..why no wages...i know...lets throw the game and show them if we dont get paid expect more of the same....bollocks... the club will have had them in for a meeting to say look im really sorry but your wages are going to be late this time round..but dont worry they will be in your accounts by wednesday next week,sorry for the inconvenience but someone forgot to transfer the money over... Ha! You can hardly insist on performance of contract, right in the face of a breach of that very contract by the other party. This has got administration, before the season's out, written all over it. Quote Link to comment Share on other sites More sharing options...
byrnes boots Posted February 28, 2011 Share Posted February 28, 2011 Ha! You can hardly insist on performance of contract, right in the face of a breach of that very contract by the other party. This has got administration, before the season's out, written all over it. wonder how many point deduction that would be Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 28, 2011 Share Posted February 28, 2011 wonder how many point deduction that would be Would be the initial 10, possibly a further deduction the season after Quote Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted February 28, 2011 Share Posted February 28, 2011 This has got administration, before the season's out, written all over it. Many who have forecast this will be disappointed if Corney is proved to be true to his repeated word. Quote Link to comment Share on other sites More sharing options...
garcon Posted February 28, 2011 Share Posted February 28, 2011 Let me get this straight, Diego. You're saying there are people on this board who will be disappointed if we don't go into administration? Simply because they predicted it? I thought it was only really :censored:ing stupid people who thought like that, who don't seem to grasp that just because somebody predicts an outcome that isn't necessarily what they want. But I know you're more intelligent than that, so I must've got it wrong somewhere, eh? Quote Link to comment Share on other sites More sharing options...
maddog Posted March 1, 2011 Share Posted March 1, 2011 Let me get this straight, Diego. You're saying there are people on this board who will be disappointed if we don't go into administration? Simply because they predicted it? I thought it was only really :censored:ing stupid people who thought like that, who don't seem to grasp that just because somebody predicts an outcome that isn't necessarily what they want. But I know you're more intelligent than that, so I must've got it wrong somewhere, eh? It's quite common. You'd be surprised. Quote Link to comment Share on other sites More sharing options...
opinions4u Posted March 1, 2011 Share Posted March 1, 2011 I cannot see how administration benefits Corney or Blitz. Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted March 1, 2011 Share Posted March 1, 2011 (edited) Many who have forecast this will be disappointed if Corney is proved to be true to his repeated word. Its pretty distasteful for people to say that... No latics fan, lapsed or otherwise, will be disappointed if Latics avoid administration. Or at least I have never heard any fan saying that... Edited March 1, 2011 by oafc0000 Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted March 1, 2011 Share Posted March 1, 2011 Let me get this straight, Diego. You're saying there are people on this board who will be disappointed if we don't go into administration? Simply because they predicted it? I thought it was only really :censored:ing stupid people who thought like that, who don't seem to grasp that just because somebody predicts an outcome that isn't necessarily what they want. But I know you're more intelligent than that, so I must've got it wrong somewhere, eh? +1 Quote Link to comment Share on other sites More sharing options...
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