Trust Shares: The Ugly Truth

[oafcmetty]

I don't know much about SD but if they are good and affordable it could be what we need. A clear structure with back up and audit, if embraced, might have helped avoid the problems in the past and safeguard the future. Supposing say that the current board and new joiners get things straight and moving forward we shouldn't be relying on everything relying on what they do or know - something working well doesn't always mean you have good systems in place.

 

 

Membership is available to any Club that we have helped become Community Owned as well as any Supporters’ Trust we have helped set up.

The SD Membership Policy can be viewed here.

In the first year membership is free, and in subsequent years the membership fee for the organisation is £100 a year (unless the members vote to change the fee). In addition to the annual fee, members need to complete a survey and provide SD with a set of accounts – these must be audited if turnover is more than £100,000 a year.

Other supporters’ groups and Clubs can apply to become affiliate members of SD but will not have voting rights.

[Takemeanywhere]

My information is now almost two years out of date, so I am not in a position to answer questions as to where the Trust now finds itself. I suggest that we wait for the clarification, which we are being told is imminent. I will then happily answer any questions relating to my time with the Trust.

[Hands on]

It is unacceptable that money freely given by supporters is not properly accounted for. How much was received, what expenses were incurred, where the money was kept and how it was disbursed. If accounts were produced why not file them?

 

Initially with £247,000 involved I would have expected the accounts to have been audited. As time went on and the amounts were smaller accounts should have been produced by a competent person and subject to independent scrutiny rather than audit to keep costs down.

 

The theft of £2,423 was a wake up call. It is disappointing that Mr Owen has resigned because he is the one who should be answering the questions raised here.

[leeslover]

It's probably worth pointing again that the claims made here are historical and make no claims about the current arrangements. It is spilt milk in a sense but I think it's important that lessons are learned about putting hands up when things aren't right.

[24hoursfromtulsehill]

I've just had a phone conversation with Rick Attwood. I stick by the stuff in the original post with one clarification: the shares haven't totally gone south. They're held by an unincorporated association of the Trust members at the time the company was disolved. The Trust is looking into re-incorporating the shares with the new limited company.

 

I'm also convinced by Rick when he says that there's more to the story than most people currently know about. The Trust will release a statement in due course that hopefully clarifies and qualifies the original post, and more importantly looks to the future.

 

One general thing we discussed was that the Trust has done some great things and should stand for a great thing - fan involvement in football. Over the years, the Trust has repeatedly asked for people to get involved, with only limited success. Latics and England made the same point elsewhere on this thread. If we want the Trust to work, we have to get involved. Volunteer organisations need volunteers. I'm guilty of carping from the cheap seats in that respect. It's also true what Rick says about exercising caution when criticising volunteers. I know from my experience as a union rep how dispiriting that can be. I don't want to deter anyone from volunteering by criticising or looking into the Trust historically. Mistakes have been made, but there is a way forward and we should probably concentrate on that now.

[Diego_Sideburns]

Simon Corney's message to Fans in January 2013, following victory over Liverpool:

“Trust Oldham can play a key role in the rebirth of this club. I want to see fresh ideas from them and more interaction. This is your club - and you can help it”.

 

[Chaddy_Ender]

Now the man that comes across as an autocratic dictator has stepped aside it may encourage others to get involved.

[ChaddySmoker]

It is unacceptable that money freely given by supporters is not properly accounted for. How much was received, what expenses were incurred, where the money was kept and how it was disbursed. If accounts were produced why not file them?

 

Initially with £247,000 involved I would have expected the accounts to have been audited. As time went on and the amounts were smaller accounts should have been produced by a competent person and subject to independent scrutiny rather than audit to keep costs down.

 

The theft of £2,423 was a wake up call. It is disappointing that Mr Owen has resigned because he is the one who should be answering the questions raised here.

Before Xmas Barry said that 'we now have 2 signatories on all cheques!' The man is a bloody genius.

[deyres42]

Agreed, at the risk of sounding like Lags (not in a bad way) there has to be an element of put up or shut up now.

 

I would like to see all directors resign (and re-stand if they wished) but appreciate that may cause too much disruption.

[Clifford]

Can someone try and get the papers involved. Needs some serious digging into and unless fans are going to pay either the police or the papers are the way to go.

[underdog]

Can someone try and get the papers involved. Needs some serious digging into and unless fans are going to pay either the police or the papers are the way to go.

Why?, attend the meeting, look or ask for the evidence for clarity and make your own mind up,with experts from the fans too, why do you need the press and police?

Edited January 22, 2015 by underdog

[Clifford]

Why?, attend the meeting, look or ask for the evidence for clarity and make your own mind up,with experts from the fans too, why do you need the press and police?

Because this whole thing seemingly has gone very dodgy under the noses of the fans and it seems it may have been done in a very underhand way. It could almost be criminal. I think the police and the press would both like a look at the way Barry et al have acted here.

[Clifford]

200k+ for what seems like nothing. Statuses changed as underhanded as it could be done, no accounts handed in and now the chair has quit and whats left of the trust?

 

Oh and the ex chair is now a board member in his own right.

 

Very odd.

[Clifford]

This should be public info and looked into properly. It shouldn't just be for the super fans on here who live inside the latics bubble. Hundreds / thousands of fans contributed money. It stinks.

[disjointed]

Why?, attend the meeting, look or ask for the evidence for clarity and make your own mind up,with experts from the fans too, why do you need the press and police?

Don't rise to it Tracey, if he was that bothered he would get the press/police involved himself, instead of asking some one else to do it.

[underdog]

 

 

Because this whole thing seemingly has gone very dodgy under the noses of the fans and it seems it may have been done in a very underhand way. It could almost be criminal. I think the police and the press would both like a look at the way Barry et al have acted here.

Then if you feel that strong why don't YOU do that, rather than suggest someone else does.

 

I am confident that if 24 and Leeslover had the same thoughts then I am sure they would have contacted the necessary authorities.

 

Come to the meeting, come meet the current committee team in person, see what skills they/knowledge they have gained . listen to what we are missing, listen to both fans questions and answers given, listen to the plan for the up and coming AGM too. come give us feedback too, offer alternatives/suggestions.

 

It's easy to be critical via keyboard, maybe coming to meet the team might give you more clarity on what the trust does and maybe trust in the trust people.

[underdog]

Don't rise to it Tracey, if he was that bothered he would get the press/police involved himself, instead of asking some one else to do it.

Oh dear too late....just posted the same thing...oh well

[Clifford]

Don't rise to it Tracey, if he was that bothered he would get the press/police involved himself, instead of asking some one else to do it.

I will be contacting the press. Don't know the ins and outs enough to speak to the police. I'd hope those that do on here are brave enough to do the right thing.

[opinions4u]

There's a difference between negligent acts and criminal acts.

 

I wouldn't be wasting plod's time just yet.

[Clifford]

A theft, change of status (done in a very neat and quiet way) and now the revelation that the shares aren't even with the trust.

 

Benchmark for getting on the board isn't very high.

 

As for the meetings, you've had my money and time before, never again.

[lookers87]

http://www.trustoldham.co.uk/statement-regarding-rumours/

 

Thanks to 24 and LL for your recent updates/clarification too.

[underdog]

http://www.trustoldham.co.uk/statement-regarding-rumours/

Thanks to 24 and LL for your recent updates/clarification too.

Thanks lookers

[leeslover]

http://www.trustoldham.co.uk/statement-regarding-rumours/

 

Thanks to 24 and LL for your recent updates/clarification too.

Thanks for this. Our advisor is waiting on some information from the FCA which should enable him to clarify the correct legal route to transfer the shares. He will correspond directly with a Trust nominated figure if this has been carried through should this be agreeable? Should this be so we can put that element to bed.

[underdog]

Thanks for this. Our advisor is waiting on some information from the FCA which should enable him to clarify the correct legal route to transfer the shares. He will correspond directly with a Trust nominated figure if this has been carried through should this be agreeable? Should this be so we can put that element to bed.

And again I will echo what lookers posted above thanks to you and 24.

 

It was a valid point to raise and I'm confident, researched well by you both with you experience and contacts too

[HarryBosch]

I've no idea who, if anybody, this is aimed at, but - supporting a football club shouldn't ever need to involve threads like this or many of the others we've had of late.....