oafc_lover Posted April 23, 2015 Share Posted April 23, 2015 Simple question requiring a simple answer... Will the playing budget be increased because of income from the stand? Link to comment Share on other sites More sharing options...
SavageTheBeast Posted April 23, 2015 Share Posted April 23, 2015 Simple question requiring a simple answer... Will the playing budget be increased because of income from the stand? I wouldn't say this season or next give it two years until we see improvements in it Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 Simple question requiring a simple answer... Will the playing budget be increased because of income from the stand? Simple answer-it depends on TTA The way that they have structured it means that they could sell OAFC Ltd to a new buyer but keep hold of the retail/ conference facilities for themselves. The same way as Brassbank could keep hold of the ground! Link to comment Share on other sites More sharing options...
oafc_lover Posted April 23, 2015 Share Posted April 23, 2015 Simple answer-it depends on TTA The way that they have structured it means that they could sell OAFC Ltd to a new buyer but keep hold of the retail/ conference facilities for themselves. The same way as Brassbank could keep hold of the ground! So FFP budget will increase but obviously it's up to them if they want to spend it? Link to comment Share on other sites More sharing options...
singe Posted April 23, 2015 Share Posted April 23, 2015 I wouldn't say this season or next give it two years until we see improvements in it Am sure SC said the benefits would be seen after next season, soJuly 2016 onward. Link to comment Share on other sites More sharing options...
singe Posted April 23, 2015 Share Posted April 23, 2015 Simple answer-it depends on TTA The way that they have structured it means that they could sell OAFC Ltd to a new buyer but keep hold of the retail/ conference facilities for themselves. The same way as Brassbank could keep hold of the ground! Presumably, if sold , new OAFC owners could serve OEC notice? I assume that notice is in OEC's favour at the moment though. Link to comment Share on other sites More sharing options...
deyres42 Posted April 23, 2015 Share Posted April 23, 2015 Am sure SC said the benefits would be seen after next season, soJuly 2016 onward. He says a lot of things... Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 Presumably, if sold , new OAFC owners could serve OEC notice? I assume that notice is in OEC's favour at the moment though. Only if OAFC Ltd 'bought' the retail/conference units from OEC Ltd. As I understand it OAFC Ltd do not own those units Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 So FFP budget will increase but obviously it's up to them if they want to spend it? No the FFP Budget will only increase if OEC Ltd pay monies across to OAFC Ltd as Income Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 23, 2015 Share Posted April 23, 2015 Simple answer-it depends on TTA The way that they have structured it means that they could sell OAFC Ltd to a new buyer but keep hold of the retail/ conference facilities for themselves. The same way as Brassbank could keep hold of the ground! I've not checked but did OAFC sign the new 40 year lease for the ground? Unless TTA have split out the leases seperately for the conferencing/outlets, OEC Ltd could be sub-leasing from OAFC. I'd be surprised if the new company setup has been structured specifically with the sale of the club in mind, it will likely be more about the operation of the businesses. As long as TTA control the businesses, any sort of deal could be negotiated regardless of how the businesses are split. Though there could be lots of reasons why this has been done, one of the best reasons is to limit liability, if OEC makes a loss, its potentially better to be in a seperate company rather than dragging the club down. Link to comment Share on other sites More sharing options...
jimsleftfoot Posted April 23, 2015 Share Posted April 23, 2015 Presumably, if sold , new OAFC owners could serve OEC notice? I assume that notice is in OEC's favour at the moment though. Depends on the lease but if OEC is controlled by TTA, there is no reason why a deal couldn't be negotiated. Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted April 23, 2015 Share Posted April 23, 2015 I've not checked but did OAFC sign the new 40 year lease for the ground? Unless TTA have split out the leases seperately for the conferencing/outlets, OEC Ltd could be sub-leasing from OAFC. I'd be surprised if the new company setup has been structured specifically with the sale of the club in mind, it will likely be more about the operation of the businesses. As long as TTA control the businesses, any sort of deal could be negotiated regardless of how the businesses are split. Though there could be lots of reasons why this has been done, one of the best reasons is to limit liability, if OEC makes a loss, its potentially better to be in a seperate company rather than dragging the club down. On 2nd August 2011, Corney was quoted in the Chron: “We have agreed a 20-year lease with my two former partners, with an option for a further 20 years, and this has secured the future for the next 40 years.” He added: “I will own the shares in the football club along with the trust. It is in good hands and for the first time I am confident in ploughing more money into the football club.” http://www.oldham-chronicle.co.uk/news-features/10/oldham-athletic-news/59263/goalden-handshake Link to comment Share on other sites More sharing options...
laticsrblue Posted April 23, 2015 Share Posted April 23, 2015 Trying to get this straight in my head. So... Brass Bank (2 ex amigos) own the land. OAFC own the buildings and the new stand. OEC ltd (all 3 amigos) have paid and will continue to pay OAFC to lease from them the conferencing facilities in the new stand (does that include the supporters bar?). In the same way that the gym. the Sportsdirect shop etc will pay leases for the privilege of being in the stand. Income for OAFC comes from the leases and possibly profit sharing. Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 Trying to get this straight in my head. So... Brass Bank (2 ex amigos) own the land. OAFC own the buildings and the new stand. OEC ltd (all 3 amigos) have paid and will continue to pay OAFC to lease from them the conferencing facilities in the new stand (does that include the supporters bar?). In the same way that the gym. the Sportsdirect shop etc will pay leases for the privilege of being in the stand. Income for OAFC comes from the leases and possibly profit sharing. To clarify re the new stand as I understand it OAFC Ltd owns the front section but OEC Ltd owns the back section and structures and the fitting out of the retail and conference facilities. I know it is difficult to comprehend how a structure including the groundworks etc can be divided up but TTA would have been a bit silly to loan OAFC Ltd say £4M (on top of the old debt) to build the lot and then for OEC Ltd to pay rent to OAFC Ltd for the facilities. As Mr Corney has said OAFC own the new stand without any further debt being incurred. The thing is OAFC Ltd do not own the 'extra bits' of the new stand Link to comment Share on other sites More sharing options...
GlossopLatic Posted April 23, 2015 Share Posted April 23, 2015 To clarify re the new stand as I understand it OAFC Ltd owns the front section but OEC Ltd owns the back section and structures and the fitting out of the retail and conference facilities. I know it is difficult to comprehend how a structure including the groundworks etc can be divided up but TTA would have been a bit silly to loan OAFC Ltd say £4M (on top of the old debt) to build the lot and then for OEC Ltd to pay rent to OAFC Ltd for the facilities. As Mr Corney has said OAFC own the new stand without any further debt being incurred. The thing is OAFC Ltd do not own the 'extra bits' of the new stand What's the source on this? Link to comment Share on other sites More sharing options...
bigfatjoe1 Posted April 23, 2015 Share Posted April 23, 2015 Anyway, we've got the catering covered. One of the Masterchef finalists is from Oldham. His food looks brilliant. Get him signed up. Link to comment Share on other sites More sharing options...
Buckshawlatic Posted April 23, 2015 Share Posted April 23, 2015 To clarify re the new stand as I understand it OAFC Ltd owns the front section but OEC Ltd owns the back section and structures and the fitting out of the retail and conference facilities. I know it is difficult to comprehend how a structure including the groundworks etc can be divided up but TTA would have been a bit silly to loan OAFC Ltd say £4M (on top of the old debt) to build the lot and then for OEC Ltd to pay rent to OAFC Ltd for the facilities. As Mr Corney has said OAFC own the new stand without any further debt being incurred. The thing is OAFC Ltd do not own the 'extra bits' of the new stand If this is the case (and I'm not saying you're wrong) where is all this magical new income that SC speaks of for the club coming from if we don't own the money making parts? it certainly won't be from gate receipts, new stand or not Link to comment Share on other sites More sharing options...
MAC0AFC Posted April 23, 2015 Share Posted April 23, 2015 Anyway, we've got the catering covered. One of the Masterchef finalists is from Oldham. His food looks brilliant. Get him signed up. Oldham fan aawell, as are his sons. Link to comment Share on other sites More sharing options...
oafc_lover Posted April 23, 2015 Share Posted April 23, 2015 The whole point of the new stand was not to increase the seating capacity, but to provide extra income for the club. If SC has done all this, only for OAFC to not gain financially then I will not only be surprised but I will be appalled. Even he wouldn't do that to us. Link to comment Share on other sites More sharing options...
opinions4u Posted April 23, 2015 Share Posted April 23, 2015 I think Blitz and Gazal have lent Latics the cash to build. The accounts show an increase in debt. This bigger debt gives Latics ownership of the whole stand (my guess). Assuming the events business is a separate company then they will pay rent to Latics but any profit will go to those who operate that separate events business. A fixed rental income will be a positive for the football club alongside other rents from other tenants. If my pure guesswork above is right, I'd expect Latics to be obliged to use a (significant) part of their rental income to repay Blitz and Gazal's increased loan and, potentially, a ground rent to Brass Bank. Matchday income I'd expect to be retained by the football club alongside part of those other rents. Talk of a hotel on or near the wasteland at the RRE and housing on Little Wembley, I doubt Latics will ever see any income from those developments if they happen. Overall Latics should have increased income. But TTA will also see a steady improvement on their returns from personal investments linked to the football club. Link to comment Share on other sites More sharing options...
oafc_lover Posted April 23, 2015 Share Posted April 23, 2015 In Corney's comments in the announcement of OEC, he says "Manchester has the MEN, Birmingham has the NIA, Oldham will have the OEC". Does anybody else think we could see some concerts in the stadium? Especially now it's 4 sided. Would be a strange comparison if we were not to hold events like both of those do. Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 What's the source on this? My own deductions from; 1) the Accounts to 30th June 2014 for OAFC Ltd 2) published figures regarding the total cost of the stand having increased greatly over and above the estimated cost 3) OAFC being skint and loss making but propped up by cup matches and player sales at times 4) the very existence of OEC Ltd 5) Statements that the stand has been/will be built debt free Ask yourself one question-how are we managing to build a brand new stand with great facilities at increasing costs on lessening gates every season? The answer has got to be loans (to another Company), if you have any other insight please feel free to offer alternative suggestions Link to comment Share on other sites More sharing options...
ChaddySmoker Posted April 23, 2015 Share Posted April 23, 2015 The whole point of the new stand was not to increase the seating capacity, but to provide extra income for the club. If SC has done all this, only for OAFC to not gain financially then I will not only be surprised but I will be appalled. Even he wouldn't do that to us. Under FFP as things stand I wonder if we will get any improvement to our playing budget. We will see wont we! SC has already started to delay the income until the season after next 'probably.' But perhaps probably later! Link to comment Share on other sites More sharing options...
al_bro Posted April 23, 2015 Share Posted April 23, 2015 This seems very odd to me. SC is essentially renting The OEC from himself. If TTA are the owners, then they make the investment and take the profits. How does that help the club. SC said the income from the stand, implying everything in it, would enable us to have a budget which would let us challenge the top teams in the division. He will have to pay himself an over the top rent I think. Link to comment Share on other sites More sharing options...
Monty Burns Posted April 24, 2015 Share Posted April 24, 2015 Corney said the sports direct deal puts us financially on par with the top clubs. Add in now money from the stand and we have the best budget in the division. Unless.... Link to comment Share on other sites More sharing options...
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