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Deal has been agreed yet corney isn't happy with it and is desperately trying to find a higher bidder? Who's agreed the deal then?

 

Dependant on the new stand being completed (which suggests it's included in the sale) yet they've got the club "for a song" - no way they're letting it go on the cheap just as they're about to start earning a bit of money back!

 

Doesn't add up to me...

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Which part of OAFC is going into administration then? From my limited knowledge of the business I've concluded that its been fragmented into several companies over the last 10 years. It isnt just one company that hold all the assets and debt so its not inconceivable that TTA will still hang on to parts of the club that give them a return on what they have 'invested'.

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Sorry, i might have missed the point, but why won't they finish the stand and open it even though they can? What is to be gained by keeping it closed?

From what the OP says, opening the stand would complete the deal so keeping it closed buys them more time to find someone else.

 

Load of tosh. If the deal is done then it is done and they have sold us. If not, then open the :censored:ing stand.

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The story - at least the element that the stand could have been open for the start of the season - contradicts the idea that it's been shortage of money that has delayed progress .

And that latter theme has been well aired and , apparently been given credibility by "sources"

Think I'll wait and see but I'm sceptical of the administration scenario at present .

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You know what, thank you to the poster for passing on this information. It would be hard to substantiate either way but thanks for at least telling us what you have heard.

If true WOW, there is a lot of information there that a non latics supporting fan might not know if not told?

Anyway going to take it with a pinch of salt but just made my Thursday more interesting

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You know what, thank you to the poster for passing on this information. It would be hard to substantiate either way but thanks for at least telling us what you have heard.

If true WOW, there is a lot of information there that a non latics supporting fan might not know if not told?

Anyway going to take it with a pinch of salt but just made my Thursday more interesting

Or it's a fantastic wind up...

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As ever, now a few of them are starting - thanks for the info.

 

Don't hold back Stevie, say what you really mean

To be clear, my comment wasn't aimed at the OP, just at the content of what he's heard.

 

Why would someone seek to have a club they were acquiring put into administration? Why would Corney et al enter into a deal that was dependent on that and the club surviving a points deduction? Imagine the state the club would be in (without a buyer) if the condition that the club survives a points deduction is not met. And who really thinks Corney has the freedom or inclination to allow the club to go into administration, placing his mates' loans in jeopardy? If they want to sell, they'd be far better off agreeing a settlement of the loans than trying to recover them as creditors to a club in administration.

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In my line of work I do a lot of travelling as a salesman and I sell a product many sports teams buy anyway I was in the midlands yesterday and got talking to a new contact and we got onto football so naturally I spoke about Oldham Athletic and this is where things got interesting.

This gentleman who we will call Richard told me in no uncertain terms the club was sold pending the new stand being completed and fully functional but the deal will only go through if the club is put into administration as the new potential buyers see the club able to sustain and survive a points deduction this year before being well backed and funded in attempt to get out the division next season, they already have a well known management duo who have agreed in principle to follow the potential new owners to the club.

Richard then said the club were stalling on opening the stand and as they are aggressively trying to find alternative suitors but are running out of time, the stand COULD have been finished and opened for the start of the season this Richard was adamant in that.

Anyway he bought 6 months worth of my product and provided an hours worth of conversation albeit very interesting conversation.

Make of that what you will.

 

I used to love Dream Team, would definitely love us to be involved in a Harchester esque storyline

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There are a few holes to this story, but the deal is pretty much a pre-packed adminstration, so plausible. About 1 in 4 adminstrations in the UK are now Pre-pack type. The allow things to carry more seamlessly. JJB used this.

 

The reason I can't quite see this being 100% true, is that the adminisatarion would presumably require SC to write off the £6m debts.

Also, if we were in such dire financial straights we would not have been able to hold onto our players this summer, or sign others of the calibre we have.

SC only has to hold on 1 year before the stand starts producing a profit, not a lot in terms of 12 years.

There has been quite a heavy investment in OEC in the past few months, not only cash but time, marketing and getting it right. Not the actions of someone about to sell and almost bankrupt.

 

On the other side, there is lot of detail there for some seemingly unconnected with no interest in peddling the tale.

Of course, that might not be the case, and there could be an unknown connection.

 

FWIW, I reckon that deal may well have been tabled, but SC has left it on the table and not been of interest (so far).

As with most speculation like this, there will be an kernel of truth and an embellishment. The embellishment, IMHO, is that it is a done deal.

 

It still amazes me people are corncerned that the stand has taken time. We are not a rich club, we have survived hand to mouth for decades.

 

The problems with the stand seem to be more cash flow related rather than near bankruptcy. Temp cash flow issues should surpise no-one, surely?

 

Yup, the club has (or had at least) limited debts which has been the point all along. The only real debt is to the owners, though not treated as a repayable loan and so admin wouldn't have any effect. The club has the lease on the Stadium, but the land is owned by Brassbank so again unaffected.

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It's been a long time since someone produced a halfway decent football conspiracy theory. For me, it's lacking two staples: a motorway service station, which is a staple of football conspiracies generally, and Featherstall Road Tesco, which is a staple of OAFC conspiracies. I'm all for originality but tradition is tradition.

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There are many aspects to a take over. It could be that Blitz will get tax relief for any amounts written off, it could be anything and anything is possible. I hope the rumour is true because we all need a fresh start, I just didn't think we would have to risk league 2 to get it.

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Only once since 2008-09 have we avoided the bottom four by 10 points or more, and that was because the bottom 4 were particularly poor that year - 7 points behind 20th.

 

If - and it's obviously a big if - it was all true, then the new owner is maybe overly confident about a points deduction...

Edited by NewBlue
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There are many aspects to a take over. It could be that Blitz will get tax relief for any amounts written off, it could be anything and anything is possible. I hope the rumour is true because we all need a fresh start, I just didn't think we would have to risk league 2 to get it.

I think we should steer clear of anyone claiming lots of money to invest, how often does it fail to materialise. And managment duo's waiting in the wings? Sven and Tord-no thanks.

 

Far too risky until we know more. Better the devil you know, and all that.

Edited by singe
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Regardless of being taken over or not, I think we should try and do a Real Oviedo before somebody else does....

After '70,000: Where are you?', I can't imagine many match-going fans would be happy about people from all over the world having a stake and equal decision-making rights...

 

I'd love it if we could do it and be sustainable though.

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Only once since 2008-09 have we avoided the bottom four by 10 points or more, and that was because the bottom 4 were particularly poor that year - 7 points behind 20th.

 

If - and it's obviously a big if - it was all true, then the new owner is maybe overly confident about a points deduction...

It would be the second time the Club had gone into Administration and I would think it would result in at least 15 points being deducted.

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After '70,000: Where are you?', I can't imagine many match-going fans would be happy about people from all over the world having a stake and equal decision-making rights...

 

I'd love it if we could do it and be sustainable though.

I think you're confusing Real Oviedo (Shareholders Trust) with Ebbsfleet United (MyFootballClub with decision-making Members).

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