Diego_Sideburns Posted August 20, 2015 Share Posted August 20, 2015 right, so what am i missing here, are you saying that the 5mill council grant has been given back to Blitz and Gazal? The Council's grant of £700,000 was a one-off to allow the Club to continue its work in the community. The other money from the Council was the purchase price of the Lancaster Club. Link to comment Share on other sites More sharing options...
singe Posted August 20, 2015 Share Posted August 20, 2015 mm I must admit this is a little different than I understood. But all makes sense. We still have the club debt. £6m. We have the stand debt (£5m), but we don't know who to , or the arrangements. But it seems like budgetted in from tenants. There is no debt from Lancaster Club. I'd be surprised if the repayment was scheduled to be repaid in 5 years. A few more questions at the moment. But no more concern than there ever was. Link to comment Share on other sites More sharing options...
opinions4u Posted August 20, 2015 Share Posted August 20, 2015 I think you'll find that the stand does not belong to the football clubYes it does. As does the additional debt. Almost certainly owed to two amigos. Link to comment Share on other sites More sharing options...
OAFCM35 Posted August 20, 2015 Share Posted August 20, 2015 so what we are saying is no one knows how much of the council grant has gone on the stand, could be some could be none.. i don't think SC would see us down :censored: creek with out a paddle but a bit of transparency wouldn't go a miss from time to time Link to comment Share on other sites More sharing options...
opinions4u Posted August 20, 2015 Share Posted August 20, 2015 so what we are saying is no one knows how much of the council grant has gone on the stand, could be some could be none.. i don't think SC would see us down :censored: creek with out a paddle but a bit of transparency wouldn't go a miss from time to time£700k. And I doubt it will be released until it's ready. Link to comment Share on other sites More sharing options...
OAFCM35 Posted August 20, 2015 Share Posted August 20, 2015 £700k. And I doubt it will be released until it's ready. that's for community work isnt it? Link to comment Share on other sites More sharing options...
deyres42 Posted August 20, 2015 Share Posted August 20, 2015 that's for community work isnt it? The gym, maybe the medical stuff. Link to comment Share on other sites More sharing options...
GlossopLatic Posted August 20, 2015 Share Posted August 20, 2015 The last number Corney shared was £5m-£6m. The club's accounts showed a £3m increase in debt to £9m. I think that was at 2014 year end. This figure could be higher now. I've been told that rental income should be c£1m pa when everything's open, in addition to any new match day income. My guess is that most of that £1m a year will service debt and maintenance costs. Maybe some will sneak into the playing budget. Over time, as debt decreases, perhaps more will be spent on playing football. Its worth pointing out that, the assets of the club have also gone up to nearly £4million which suggests I think (jimsleftfoot might know the answer to this) that we are leasing the stand effectively owning it and taking any profits from it. Link to comment Share on other sites More sharing options...
oafc_lover Posted August 20, 2015 Share Posted August 20, 2015 Its worth pointing out that, the assets of the club have also gone up to nearly £4million which suggests I think (jimsleftfoot might know the answer to this) that we are leasing the stand effectively owning it and taking any profits from it. So we build a £6m stand and our assets are still not even £4m? Link to comment Share on other sites More sharing options...
bpmarko Posted August 20, 2015 Share Posted August 20, 2015 So we build a £6m stand and our assets are still not even £4m? Don't forget that these posted accounts are way for a long gone period, and, at the time of writing, the expected expenditure was likely still the original £4M. Also, yes we could build even a £10M ground but apart from 3rd party revenue generators within the ground, it would likely be worth pretty much nothing as a fixed asset, as you cannot really sell it on. Link to comment Share on other sites More sharing options...
Monty Burns Posted August 20, 2015 Share Posted August 20, 2015 I was under the impression that OMBC had covered the bulk of what the stand was costing? WOW!!!! Have they :censored:. Link to comment Share on other sites More sharing options...
OAFCM35 Posted August 20, 2015 Share Posted August 20, 2015 WOW!!!! Have they :censored:. they gifted us 5million.. 3million was a repayment for the lancaster club.. 700k of it was for community work.. so IF that 3million has been given back to the 2 amigos there is 1.4 mill unaccounted for.. IF it hasn't there 4.4million unaccounted for.. the original price for the build was 4.5million or so we are told Link to comment Share on other sites More sharing options...
leeslover Posted August 20, 2015 Share Posted August 20, 2015 they gifted us 5million.. 3million was a repayment for the lancaster club.. 700k of it was for community work.. so IF that 3million has been given back to the 2 amigos there is 1.4 mill unaccounted for.. IF it hasn't there 4.4million unaccounted for.. the original price for the build was 4.5million or so we are told The £5m was presumably what it cost for Mr Blitz not to sue. He had millions sitting in a worthless investment and :censored: knows what in wasted fees to lawyers, architects and so on. Link to comment Share on other sites More sharing options...
oafcprozac Posted August 20, 2015 Share Posted August 20, 2015 No, 700k was given in the form of a grant the rest was a refund on the Lancaster club purchase so Ombc could avoid very costly litigation for monumentally :censored:ing up the charity commission status enquiry process that simply wasn't needed. Blitz quite rightly was going to sue the council back to the Stone Age Link to comment Share on other sites More sharing options...
OAFCM35 Posted August 20, 2015 Share Posted August 20, 2015 No, 700k was given in the form of a grant the rest was a refund on the Lancaster club purchase so Ombc could avoid very costly litigation for monumentally :censored:ing up the charity commission status enquiry process that simply wasn't needed. Blitz quite rightly was going to sue the council back to the Stone Age I see, that chron link higher up the page is very misleading Link to comment Share on other sites More sharing options...
Aarondo Westy Posted August 20, 2015 Share Posted August 20, 2015 Just out of intrest with all these questions suddenly apoearing regarding ownership of stand funding etc, have these ever actually been asked at the meetings and open days the club have held? Id suggest thats the place to ask them, not some message board where every man and his dog has a "source" within the club Link to comment Share on other sites More sharing options...
Monty Burns Posted August 20, 2015 Share Posted August 20, 2015 Wasnt the deal actually that the council will match anything that was spent on the stand, up to a limit of £5m? Link to comment Share on other sites More sharing options...
owdumer Posted August 20, 2015 Share Posted August 20, 2015 The lack of updates from the club to people who have spent a lot of money for services not being received is worrying to say the least.As a member of the 100 club I was promised an invite to a "meet the manager" evening on 10 September in the new Broadway suite only to now be reading about a Trust event at the Railway in Royton "meet the manager" on the very same date, no notification from the club on the subject having been received. I suppose that now they have the money........... Link to comment Share on other sites More sharing options...
SavageTheBeast Posted August 20, 2015 Share Posted August 20, 2015 Been speaking to my "source" we won't be in till October and the boxes and the inside not till November. Nothing in the back of the stand yet. Announcement soon Link to comment Share on other sites More sharing options...
LaticsPete Posted August 20, 2015 Share Posted August 20, 2015 The lack of updates from the club to people who have spent a lot of money for services not being received is worrying to say the least.As a member of the 100 club I was promised an invite to a "meet the manager" evening on 10 September in the new Broadway suite only to now be reading about a Trust event at the Railway in Royton "meet the manager" on the very same date, no notification from the club on the subject having been received. I suppose that now they have the money........... I can see disappointing and frustrating , even annoying. But "worrying" ? Link to comment Share on other sites More sharing options...
deyres42 Posted August 20, 2015 Share Posted August 20, 2015 I can see disappointing and frustrating , even annoying. But "worrying" ? Throw dishonest into the mix. Link to comment Share on other sites More sharing options...
RoyleArmy1994 Posted August 20, 2015 Share Posted August 20, 2015 Well Shrewsbury on sat is the last game of the "your not able to accommodate your seat" games, of the three the club listed. The next is bradford at home on the 5th September. If I and many are not in by then, there will be some very unhappy fans! Link to comment Share on other sites More sharing options...
SavageTheBeast Posted August 20, 2015 Share Posted August 20, 2015 Well Shrewsbury on sat is the last game of the "your not able to accommodate your seat" games, of the three the club listed. The next is bradford at home on the 5th September. If I and many are not in by then, there will be some very unhappy fans! October I've been told for seated fans and boxes November Link to comment Share on other sites More sharing options...
Aarondo Westy Posted August 20, 2015 Share Posted August 20, 2015 Been speaking to my "source" we won't be in till October and the boxes and the inside not till November. Nothing in the back of the stand yet. Announcement soon Haha i see what you did there Link to comment Share on other sites More sharing options...
RoyleArmy1994 Posted August 20, 2015 Share Posted August 20, 2015 All these sources! We must have a huge amount of non playing staff at the club Link to comment Share on other sites More sharing options...
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