Magister Posted June 18, 2016 Share Posted June 18, 2016 It tells us the debt was paid last month and they're dealing with it. What more do you want? How long have you got? I think what the supporters want most is some indication from the chairman matching his assessment of the clubs financial position to his prognosis of what sort of investment we can or cannot expect in the playing side of the club. Quote Link to comment Share on other sites More sharing options...
SavageTheBeast Posted June 18, 2016 Share Posted June 18, 2016 A non story which Latics fans are jumping on to moan at the club. Quote Link to comment Share on other sites More sharing options...
SavageTheBeast Posted June 18, 2016 Share Posted June 18, 2016 It will just be procedure to go to court and get the order rescinded. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted June 18, 2016 Share Posted June 18, 2016 A non story which Latics fans are jumping on to moan at the club. Not sure it is a non story and the timing is awful but equally we shouldn't scream and cry too loudly without knowing the facts. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted June 18, 2016 Share Posted June 18, 2016 (edited) It tells us the debt was paid last month and they're dealing with it. What more do you want? Not to be treated like idiots would be a start. A Company does not suddenly become short of cash to meet it's liabilities. We now know officially that we are in the :censored:. We do not expect to be baffled by bull:censored:-but they will try. The Directors should feel compelled to now shed some light on our current situation. Personally I want the Accounts for OAFC (2004) Ltd to be filed at Companies House which has been deferred from 31st March to 30th June by a technical move. Perhaps the club couldnt pay the Accountant's bill? Edited June 18, 2016 by ChaddySmoker Quote Link to comment Share on other sites More sharing options...
longtimeblue Posted June 18, 2016 Share Posted June 18, 2016 A non story which Latics fans are jumping on to moan at the club. Hopefully it's sorted but to dismiss it as a non-story is stretching it a bit! Quote Link to comment Share on other sites More sharing options...
singe Posted June 18, 2016 Share Posted June 18, 2016 I struggling to square the circle here On the one hand We know top scorer sold in Jan, wages not paid on time, keeper sold, no players signed , manager moved on We suspect Club Captain being sold On the other hand We know investment was made in Gerrard 6 loanees and a manager to retain our status We are being allowed to believe we are pursuing a top end manager I do believe now that we deserve an honest state of the union statement from the club chairman It's more or less where I am. Add in the factor if (big if) Evans appointed and it really is a mixed message. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted June 18, 2016 Share Posted June 18, 2016 A non story which Latics fans are jumping on to moan at the club. A non story? OAFC (2004) Ltd nearly died but the life support machine was succesful on this occasion-nothing to worry about lads. Quote Link to comment Share on other sites More sharing options...
blueatheart Posted June 18, 2016 Share Posted June 18, 2016 It will just be procedure to go to court and get the order rescinded. This. Quote Link to comment Share on other sites More sharing options...
Senor_Coconut Posted June 18, 2016 Share Posted June 18, 2016 Nearly died? ffs Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted June 18, 2016 Share Posted June 18, 2016 I can't understand anyone making out there's really nothing to read into this. We've all been aware that cash flow has been an issue for some time, with wages repeatedly paid late, but, even if the relevant debt has now been paid, this is a worrying signal of how the club is operating financially. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted June 18, 2016 Share Posted June 18, 2016 Nearly died? ffs Presumably you do not understand the logic behind the legal proceedings and have never been involved in the system Quote Link to comment Share on other sites More sharing options...
deyres42 Posted June 18, 2016 Share Posted June 18, 2016 Presumably you do not understand the logic behind the legal proceedings and have never been involved in the system I'm sure you will delight in telling us in the coming days. Quote Link to comment Share on other sites More sharing options...
Diego_Sideburns Posted June 18, 2016 Share Posted June 18, 2016 High-speed court proceedings: 68 cases to be dealt with at !0:30am and 57 at 11:00am. Quote Link to comment Share on other sites More sharing options...
frizzell54 Posted June 18, 2016 Share Posted June 18, 2016 From Official Site: CLUB STATEMENT1 hours 18 mins ago "We are aware of the winding up petition brought by HMRC scheduled for Monday, June 20 and our legal advisors are dealing with it." Not over yet. Quote Link to comment Share on other sites More sharing options...
Bristolatic Posted June 18, 2016 Share Posted June 18, 2016 It's all a bit of a vicious circle isn't it? Gates are dwindling, so income reduces, FFP rules mean we can only spend 60% of turnover (or is it income? I can't remember) on wages, which only attracts lower paid players (if we're lucky), so the quality of the football reduces, so more people say "Sod it, I ain't going to watch that :censored:", ergo gates continue dwindling and the circle starts all over again. Without a wealthy benefactor who can pump a shed load of money in (as a "gift", I believe to get round the FFP rules), we're always going to struggle financially. And it's a trend that will continue if said benefactor doesn't rock up at BP any time soon. Trouble is, OAFC 2004 isn't the most attractive business on offer at the moment, much of that due to the vicious circle. If we've cleared the debt that dropped us in the good-for-the-roses with HMRC, then thank Christ for that, but I don't believe that the club necessarily has to give us all the fact and figures surrounding it. I don't suppose there's any harm in them saying, "Look fellas, we're a bit in the poo with cashflow, but we're battling on the best we can. We may have to flog off the family jewels or leave them at the pawnshop for a while, but we're constantly looking for ways out. The club is still up for sale, but the right buyers have to show an interest, which they haven't done yet". Beyond that, I don't personally expect much more transparency. They've issued a statement saying it is dealt with and the debt was paid last month. That will do for me, but obviously won't for others. Let's just be thankful we have still got a club to support. There's enough clubs have fallen by the wayside in recent years. As long as our heads are (just) above water, we'll survive. It may take a bit longer to be completely solvent. Quote Link to comment Share on other sites More sharing options...
Bristolatic Posted June 18, 2016 Share Posted June 18, 2016 From Official Site: CLUB STATEMENT1 hours 18 mins ago "We are aware of the winding up petition brought by HMRC scheduled for Monday, June 20 and our legal advisors are dealing with it." Not over yet. The statement also says it was paid last month. We just don't know how or who by and they don't have to tell us that. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted June 18, 2016 Share Posted June 18, 2016 I'm sure you will delight in telling us in the coming days. I do not think that anybody will be in 'delight' at this latest step. A few of us have seen it coming and posted about our worries. It is not our fault that the mistakes keep occuring and get larger. Quote Link to comment Share on other sites More sharing options...
frizzell54 Posted June 18, 2016 Share Posted June 18, 2016 The statement also says it was paid last month. We just don't know how or who by and they don't have to tell us that. Didn't see that bit. Quote Link to comment Share on other sites More sharing options...
Bristolatic Posted June 18, 2016 Share Posted June 18, 2016 (edited) I do not think that anybody will be in 'delight' at this latest step. A few of us have seen it coming and posted about our worries. It is not our fault that the mistakes keep occuring and get larger. How do you know that they're mistakes? It may just be as simple as the income stream isn't sufficient to pay all the bills on time. There are over 100 companies in that Court list. Are they all there because of "mistakes"? I doubt it and imagine many are simply insufficient income creating cashflow issues. Edited June 18, 2016 by Bristolatic Quote Link to comment Share on other sites More sharing options...
Midsblue Posted June 18, 2016 Share Posted June 18, 2016 Someone will have this to hand but can anyone confirm what the average home gate was when Corney, Blitz & Gazal arrived and what the average home gate has been season on season? When I say home gate I mean home fans i.e. ST holders and those who pay on the day. Reason I ask is that fans have often been criticised because gates haven't increased and haven't bought into the dream. However in their tenure, what has been achieved on the pitch to entice them apart from one play-off challenge? We all know we're skint but I still scratch my head as to why. Over the last 5,6 or even 7 seasons we have been cutting our cloth accordingly to balance the books with budgets being reduced continually and ambitions lowered year on year, which has delivered struggle after struggle each season. This is after managerial appointments not paying off, players sold off at undisclosed rates, decisions made on stadium planning, ground development and land sales that seriously question the business acumen of the decision makers and the history of balancing the books. What I'm trying to say is whilst Corney has kept the club afloat, the reasons we do struggle financially are down to decisions in the boardroom as opposed the loyalty and apathy of us fans. Perhaps administration is a viable solution to the purgatory of our club and a club enduring a slow and torturous decline. At least it breaks this vicious circle of pain on the pitch and totally disassociates Brassbank whereby someone takes over from the current regime, clean slate, rents the stadium and not hamstrung with historical debt, board direction and brings back focus of a new owner. Yes we would be in League 2 but the current fans would still attend and would most likely be fired up under a new owner. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted June 18, 2016 Share Posted June 18, 2016 How do you know that they're mistakes? It may just be as simple as the income stream isn't sufficient to pay all the bills on time. Quote Link to comment Share on other sites More sharing options...
adamoafc Posted June 18, 2016 Share Posted June 18, 2016 This is why fans should be doing everything we can for the club. Buying season tickets get the club shirt. Having a pint at the game/buying food. We aren't a big club the money generated by the fans is essential at this level. Time we acted instead of moaning about it. Yes people blame corney so have I over the years but he could of jumped like the other two did and left us without an owner and a chance of admin etc. He is always happy to admit we work to tight budgets only way to improve that is fans coming in the gates. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted June 18, 2016 Share Posted June 18, 2016 I do not think that anybody will be in 'delight' at this latest step. A few of us have seen it coming and posted about our worries. It is not our fault that the mistakes keep occuring and get larger. Anybody with half a brain could see it coming but a certain section still want to weigh in with the I Told You So's, waving their willies as they do. Quote Link to comment Share on other sites More sharing options...
Bristolatic Posted June 18, 2016 Share Posted June 18, 2016 Someone will have this to hand but can anyone confirm what the average home gate was when Corney, Blitz & Gazal arrived and what the average home gate has been season on season? When I say home gate I mean home fans i.e. ST holders and those who pay on the day. Reason I ask is that fans have often been criticised because gates haven't increased and haven't bought into the dream. However in their tenure, what has been achieved on the pitch to entice them apart from one play-off challenge? We all know we're skint but I still scratch my head as to why. Over the last 5,6 or even 7 seasons we have been cutting our cloth accordingly to balance the books with budgets being reduced continually and ambitions lowered year on year, which has delivered struggle after struggle each season. This is after managerial appointments not paying off, players sold off at undisclosed rates, decisions made on stadium planning, ground development and land sales that seriously question the business acumen of the decision makers and the history of balancing the books. What I'm trying to say is whilst Corney has kept the club afloat, the reasons we do struggle financially are down to decisions in the boardroom as opposed the loyalty and apathy of us fans. Perhaps administration is a viable solution to the purgatory of our club and a club enduring a slow and torturous decline. At least it breaks this vicious circle of pain on the pitch and totally disassociates Brassbank whereby someone takes over from the current regime, clean slate, rents the stadium and not hamstrung with historical debt, board direction and brings back focus of a new owner. Yes we would be in League 2 but the current fans would still attend and would most likely be fired up under a new owner. I'll just take one part of that, if I may. I don't believe ambitions have been lowered, but I accept that the budget has been lowered because the income has reduced. That in turn has resulted in only employing managers that we can afford. It doesn't necessarily just mean the cheapest option as some would have it, but the best the board believe we can get for what we can afford. I accept that mistakes have been made, both Corney and Owen admitting so, but balancing the books must a nightmare. Quote Link to comment Share on other sites More sharing options...
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