ghostofcecere Posted March 20, 2014 Share Posted March 20, 2014 I will show my arse on the town hall steps the day they do that... As for scare mongering... Its the same charge I have faced since I started posting on the web back in the 90s and I was asking difficult questions with a 100% attendance home and away... right through to the point my attendance stop due to the ongoing disaster at the club about four years ago... while others like you carry on sucking happily at the nipple of disaster slagging off the ones asking the difficult questions. Water off a ducks back basically. I was "scare mongering" when I pointed out the unsustainable position we was in under Moores. In fact, I got some nasty abuse during those days for daring to slag off the situation. So they force any potential investor to pay back the £6M, which in turn means no one invests and the club goes under and they get sweet FA! Which is exactly what they get if someone does come in and doesn't pay them the £6M. It doesn't make sense. You've been away four years and the club is still here despite the "disaster" you describe in exactly the same place it was back then. Except for a new stand being built and us being on the cusp of having a self sufficient football club for the first time since the early 90's. I shall return to my exile from this board, supporting Latics is a far worse experience for reading some of the negativity and crap that gets posted, it's a shame as it was once a fine place for Latics fans to interact. I shall continue to enjoy supporting the club I love with all of its ups and downs with many others who do the same, people forget that those who post on here are a minority of our support and it's far from a consensus. Keep the faith fellow happy clappers!! Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted March 20, 2014 Share Posted March 20, 2014 people forget that those who post on here are a minority of our support and it's far from a consensus. That old chestnut Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted March 20, 2014 Share Posted March 20, 2014 You've been away four years and the club is still here despite the "disaster" you describe in exactly the same place it was back then. Except for a new stand being built and us being on the cusp of having a self sufficient football club for the first time since the early 90's. I have been here following things and you can't see the wood for the trees to be frank. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 20, 2014 Share Posted March 20, 2014 My gripe with them is that the fans still continue to support Man United and enjoy (maybe not so much this season) league, cup and european wins. It's as if they want the buzz of a community club, standing and away days at small grounds with small crowds away from the megastore bag holding 1 game per season "fans". But at the same time they want to take part in and enjoy the glory of being one of the most successful clubs in the world paying players 8 figure salaries. If FC was born out of protest against what the Glazers have done at MUFC, why continue to support MUFC? Smacks of having their cake and eating it. LUHG. http://andersred.blogspot.co.uk/ Also, I wonder how many Oldham fans like watching United or City on the TV? Or actually go to OT or Etihad as well as Oldham? I reckon there are a few. For the thousands of fans who wanted a club to call their own and to have a say in the running of a club - it's happened, and FC have made many friends at home and abroad by doing so - making friends not millionaires. Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted March 20, 2014 Share Posted March 20, 2014 OMG.... So you would buy a business that had a £6 million charge against it, invest millions sorting the business out... and all the time some other party had the ability of at any time calling in the debt and putting you out on your arse ? You might get to the point where you have £6 million in assets and all of sudden calling the debt becomes attractive. Any new investor would need to pay off the debt or at least come to a cast iron legal position that the debt won't be called unless we get into the Prem. I am not just talking about some comment in a newspaper. It would have to be cast iron. I can't believe how naive some fans are being about all this You've already explained how this could work. TTA retain a 49% shareholding equal to the equity already in the club I.e. £6m. A quite normal but legally sound agreement is set up stating that upon promotion to the PL, the majority owners have to pay £6m in return for the rest of the shares. Quote Link to comment Share on other sites More sharing options...
Guest Scratch2000uk Posted March 20, 2014 Share Posted March 20, 2014 despite the "disaster" you describe in exactly the same place it was back then. Except for a new stand being built and us being on the cusp of having a self sufficient football club for the first time since the early 90's. On the flip side, we have a club still losing money, have no assets and have been stuck in league one for what seems a lifetime to some of the younger fans. A fan's Trust, that doesn't interact with it's members, unless you are either personally known by, or at least giving plaudits to the one and only Trust chairman, add to that, the other chairman threatening to resign come the end of the season, not for the first time i might add, Oh, and the club owes it's investors £6 million. Boy we have come a fair way. Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted March 20, 2014 Share Posted March 20, 2014 The quote from Corney on the £6M is very brief. I would question whether he actually meant that the other two would not call in the debt at all unless Latics were to reach the Prem. I wonder whether he, in fact, meant that only then would the seek to have it paid in full as a single payment. It may well be that the club are already repaying some of it and that more is called off against the debts when transfers such as Baxter's or Tarkowski's happen or big cup games against the likes of Liverpool, bringing in revenues that would not have figured in the season's forecast. If that's not the case, I seriously worry about how money has been spent over the past three years and how we'll survive if we have a few years without cup runs or decent transfer fees. It would also be interesting to know how much Brassbank charges the club for use of the ground. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted March 20, 2014 Share Posted March 20, 2014 The quote from Corney on the £6M is very brief. I would question whether he actually meant that the other two would not call in the debt at all unless Latics were to reach the Prem. I wonder whether he, in fact, meant that only then would the seek to have it paid in full as a single payment. It may well be that the club are already repaying some of it and that more is called off against the debts when transfers such as Baxter's or Tarkowski's happen or big cup games against the likes of Liverpool, bringing in revenues that would not have figured in the season's forecast. If that's not the case, I seriously worry about how money has been spent over the past three years and how we'll survive if we have a few years without cup runs or decent transfer fees. It would also be interesting to know how much Brassbank charges the club for use of the ground. Rent to Brass bank Limited is NIL! Up to 31/10/12 anyway! Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted March 20, 2014 Author Share Posted March 20, 2014 LUHG. http://andersred.blogspot.co.uk/ Also, I wonder how many Oldham fans like watching United or City on the TV? Or actually go to OT or Etihad as well as Oldham? I reckon there are a few. For the thousands of fans who wanted a club to call their own and to have a say in the running of a club - it's happened, and FC have made many friends at home and abroad by doing so - making friends not millionaires. Please stop referring to them as "FC" Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted March 20, 2014 Author Share Posted March 20, 2014 This £6m was far less of a cause for concern before we were told how unlikely it is to be called in. Only on OWTB....... Quote Link to comment Share on other sites More sharing options...
Matt Posted March 20, 2014 Share Posted March 20, 2014 Please stop referring to them as "FC" Nope. Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted March 20, 2014 Author Share Posted March 20, 2014 Nope. None of the thousands of other "FC"'s that came before them claim it as their own - why should they? Quote Link to comment Share on other sites More sharing options...
Matt Posted March 20, 2014 Share Posted March 20, 2014 None of the thousands of other "FC"'s that came before them claim it as their own - why should they? Ask the thousands of other clubs why they didn't bother. Quote Link to comment Share on other sites More sharing options...
oafcmetty Posted March 20, 2014 Share Posted March 20, 2014 None of the thousands of other "FC"'s that came before them claim it as their own - why should they? Just poke him by quoting his posts and replacing "FC" with "SC". Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted March 20, 2014 Share Posted March 20, 2014 wonder what rent would be charged if a new investors were found could be another stumbling block. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted March 20, 2014 Share Posted March 20, 2014 wonder what rent would be charged if a new investors were found could be another stumbling block. You've already explained how this could work. TTA retain a 49% shareholding equal to the equity already in the club I.e. £6m. A quite normal but legally sound agreement is set up stating that upon promotion to the PL, the majority owners have to pay £6m in return for the rest of the shares. If TTA Converted their loan into shares that would be possible but they wouldn't be half as secure in that position as they are now Quote Link to comment Share on other sites More sharing options...
tangerinedreams Posted March 21, 2014 Share Posted March 21, 2014 (edited) Its going to require some serious coin though isn't it.... £6 million (our debt) + the asking price for the land = very few buyers Pound to a penny that repayment figure will change if premiership status is achieved...edit: championship status. Edited March 21, 2014 by tangerinedreams Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted March 21, 2014 Share Posted March 21, 2014 (edited) If TTA Converted their loan into shares that would be possible but they wouldn't be half as secure in that position as they are now There is no loan as per last accounts, it's already shareholder funds. If they covert into loans, it goes against the club in relation to FFP, though they could still do that anyway. Edited March 21, 2014 by jimsleftfoot Quote Link to comment Share on other sites More sharing options...
BP1960 Posted March 21, 2014 Share Posted March 21, 2014 (edited) Pound to a penny that repayment figure will change if premiership status is achieved...edit: championship status. The quote from Corney on the £6M is very brief. I would question whether he actually meant that the other two would not call in the debt at all unless Latics were to reach the Prem. I wonder whether he, in fact, meant that only then would the seek to have it paid in full as a single payment. It may well be that the club are already repaying some of it and that more is called off against the debts when transfers such as Baxter's or Tarkowski's happen or big cup games against the likes of Liverpool, bringing in revenues that would not have figured in the season's forecast. If that's not the case, I seriously worry about how money has been spent over the past three years and how we'll survive if we have a few years without cup runs or decent transfer fees. It would also be interesting to know how much Brassbank charges the club for use of the ground. Its surprising how little fans know about the money they have paid into a football club, vague annual accounts mean nothing to the average person and much more detail is required, for example undisclosed fees - which appear the norm these days. Where does the figure of £6 million come from, is it exactly that amount, more, or less?..we ought to know. Edited March 21, 2014 by BP1960 Quote Link to comment Share on other sites More sharing options...
Matt Posted March 21, 2014 Share Posted March 21, 2014 https://www.fundingcircle.com/ Peer-to-peer loans from local businesses... "Do you, or does someone you know, have a voice in making decisions in other organisations? We are inviting organisations to lend money to the club – and benefit from this great deal as well as contribute to a fantastic new community facility. *football team name removed to prevent some :censored:ing flute giving it the ABU* has already successfully raised almost all of the £5.7m finance package needed to build the new ground. *football team name removed to prevent some :censored:ing flute giving it the ABU* members have contributed over £1.8m to the club’s pioneering Community Share Scheme. The loan stock offer is one of the last pieces in the jigsaw..." "...As a Society for the Benefit of the Community (formerly known as Industrial and Provident Society), *football team name removed to prevent some :censored:ing flute giving it the ABU* is a one-member, one-vote organisation. It also has the power to sell loan stock, or borrow, at a rate agreed by its board. The Board has decided to offer loan stock to organisations at between 3% and 4% interest pa - partly to replace more expensive loans and partly to finance increased development costs." Link to football team who shall not be named to prevent some :censored:ing flute giving it the ABU Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted March 21, 2014 Share Posted March 21, 2014 Its surprising how little fans know about the money they have paid into a football club, vague annual accounts mean nothing to the average person and much more detail is required, for example undisclosed fees - which appear the norm these days. Where does the figure of £6 million come from, is it exactly that amount, more, or less?..we ought to know. For me the whole point of the trust and a seat on the board was to know much more than we currently do... Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted March 21, 2014 Share Posted March 21, 2014 (edited) Its surprising how little fans know about the money they have paid into a football club, vague annual accounts mean nothing to the average person and much more detail is required, for example undisclosed fees - which appear the norm these days. Where does the figure of £6 million come from, is it exactly that amount, more, or less?..we ought to know. There have been attempts, but others are not always helping by passing guesswork as certainty. Latics&England and Leeslover took a look at the accounts in 2010 as per this thread: http://www.owtb.co.uk/index.php/topic/28647-visit-to-look-at-the-accounts/?hl=accounts Edited March 21, 2014 by jimsleftfoot Quote Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted March 21, 2014 Share Posted March 21, 2014 The Chron reported on 13 October 2010 re financial position and loans from Blitz & Gazal: http://www.oldham-chronicle.co.uk/news-features/10/oldham-athletic-news/48102/latics-facing-rocky-road-ahead Quote Link to comment Share on other sites More sharing options...
BP1960 Posted March 21, 2014 Share Posted March 21, 2014 (edited) There have been attempts, but others are not always helping by passing guesswork as certainty. Latics&England and Leeslover took a look at the accounts in 2010 as per this thread: http://www.owtb.co.uk/index.php/topic/28647-visit-to-look-at-the-accounts/?hl=accounts So it seems the rough figure of 6 million (£4 million non interest in 2010) is returned as and when required, whatever 'as required' means'. Edited March 21, 2014 by BP1960 Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted March 21, 2014 Share Posted March 21, 2014 There is no loan as per last accounts, it's already shareholder funds. If they covert into loans, it goes against the club in relation to FFP, though they could still do that anyway. Are these the Accounts for O A 2004 Ltd? They are due for the 18 month period to 30th June 2013 within the next 10 days and I will get a copy! Quote Link to comment Share on other sites More sharing options...
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