Summary of Questions Received - "Ask the Chairman"

[bozman]

Wait, so £2.5m for basically nothing?

And 'guaranteeing NS income arrangement'?

 

I don't think you have quite understood what Simon just said to you. He pretty much confirmed it would cost around £20m to buy the club.

The way I read it,what he's offering is effectively a settlement on the clubs debts to Blitz etc of £2.5m, so roughly circa 25%.

But Blitz would retain ownership of the ground, surrounding land and physical assets.

As these are not included in such a sale we have no real idea what they're looking for, for the whole package.

It neither confirms or denies the £24m figure.

[Monty Burns]

You've read it wrong.

[oafcmetty]

Projected income at the moment from the North Stand to the club is circa £200-£300k per annum.

That's revenue, not profit, right? That's not a lot of money - 2,000 season tickets at £150 gets you £300k.

 

 

the proposition at least throws light on the club's "valuation" to dispel a lot of myths.

As others have said, that's bollocks. Firstly it doesn't include everything. Secondly it's an offer to fans - not to an outside investor. Knowing someone is interested who has a lot of cash, would the asking price increase? Smoke and mirrors as always.

[oafcmetty]

Obviously the quotes above aren't from Monty....

[real]

Why don't you go and ask him

Almost every response has queried the finances in the conversation. It's flattering that you think mine is most worthy of attention but I think it's best to let nnn lead on this.

[mcfluff1985]

Almost every response has queried the finances in the conversation. It's flattering that you think mine is most worthy of attention but I think it's best to let nnn lead on this.

Because you'll just sit on here spouting like the rest

[sjk2008]

There's plenty of other threads where the Corney inners and outers can slate each other, but can we keep this thread on topic please?

Edited December 1, 2016 by sjk2008

[tGWB]

Early days I know but what a great start

 

What an offer, to allow our Supporters to buy a 75% interest in our Club

 

Course we will need more details but you can put me down for £5,000

[Magister]

Very fair point, BP1960 - 40years in my case. But it's just a failing business at the moment and there is no knight in shining armour around the corner.

.

 

At a guess, the next 10 years are going to be very, very hard for everybody. I'm tired of labels - be it "Up Corney's arse" or "Negative :censored:e". Can we just be objective and discuss realistic

options?

What's a failing business? Brassbank certainly isn't....does anybody on here not think the TTA are not in pocket over the land deals, the car parks , the hospital building etc. When they took over the club had the asset of the buy back clause of land. What assets are now owned by Oldham Athletic...we even pay rent to play on our " own " pitch

[palmer1]

Can you ask Corney if he still feels that when he leaves this club it will be in better shape than when he joined as promised numerous times?

 

With the land sold etc etc etc how can he say yes?

[4froale]

Can you ask Corney if he still feels that when he leaves this club it will be in better shape than when he joined as promised numerous times?

 

With the land sold etc etc etc how can he say yes?

think you have answered your own question

[real]

Because you'll just sit on here spouting like the rest

Unlike you ranting at anyone you don't agree with like a petulant 10 year old who's learned a few swear words.

 

I've sent my thoughts to nnn and I don't know why you think people are not entitled to express views and debate on a forum without attending a few meetings. You seem to be a bit obsessed about it.

[real]

Can you ask Corney if he still feels that when he leaves this club it will be in better shape than when he joined as promised numerous times?

 

With the land sold etc etc etc how can he say yes?

To be fair the land wasn't the club's, although TTA did use the buy-back clause which only the club had access to, but switched the purchase into Brassbank.

The receipts for the medical facility, hospital parking, housebuilding etc could well have given Brassbank a decent return, but it's an unknown.

Edited December 1, 2016 by real

[blueatheart]

but switched the purchase into Brassbank.

 

Big balls up by the council, that.

[bozman]

You've read it wrong.

OK. So please do share the benefit of your wisdom and explain how what he told NNN confirms that he wants £20 million for the whole thing?

All he says is that he'll sell 75% of the club for 2.5 million and write off the clubs debts to Blitz in doing so. We know the club doesn't own the ground or land so has limited assets and that he'd want a substantial amount extra for that but how do we know it's £20 million?

[BP1960]

Early days I know but what a great start

 

What an offer, to allow our Supporters to buy a 75% interest in our Club

 

Course we will need more details but you can put me down for £5,000

Can you explain exactly what you will get for your £5,000 though?

[opinions4u]

Can you explain exactly what you will get for your £5,000 though?

The same club run by different amateurs.

[mcfluff1985]

Unlike you ranting at anyone you don't agree with like a petulant 10 year old who's learned a few swear words.

 

I've sent my thoughts to nnn and I don't know why you think people are not entitled to express views and debate on a forum without attending a few meetings. You seem to be a bit obsessed about it.

It's the ones who post :censored: as fact with zero proof that annoy me most

[ghostofcecere]

If it were to be made more clear what we'd actually get for our £2.5M, then I could be very tempted to invest £5K in it.

[Stevie_J]

Big balls up by the council, that.

There's nothing the council could have done about it. The club was controlled by Corney, Blitz and Gazal, who exercised the club's right to buy back the land. What 'the club' does with it after that, such as transferring/selling it to someone else, is completely outside of the council's control.

[GlossopLatic]

Are people being serious about spending £5k in shares in Latics a business that is losing £1million a year and has no assets because seriously I think you're insane.

[real]

It's the ones who post :censored: as fact with zero proof that annoy me most

Not sure why you're obsessed with me then. You won't find anything from me like that.

[GlossopLatic]

Can you explain exactly what you will get for your £5,000 though?

Assuming 500 other people took up this offer and Corney was true to his word regarding giving 75% away

 

A 0.0015% stake in Oldham Athletic Simon Corney would get you're £5000 you will get a 0.0015% of any dividends that the club pays out in profit which would only be a certain % of that profit and bearing in mind it's a lower league football club that never makes a profit that looks highly unlikely you will ever see you're £5000 again until someone bought it off you.

 

I'm not sure how serious that offer from Corney was he may have been talking hypothetically but I'd be amazed if people were mad enough to do this basically you would be giving him £5000.

 

It's a no from me.

Edited December 1, 2016 by GlossopLatic

[real]

Assuming 500 other people took up this offer and Corney was true to his word regarding giving 75% away

 

A 0.0015% stake in Oldham Athletic Simon Corney would get you're £5000 you will get a 0.0015% of any dividends that the club pays out in profit which would only be a certain % of that profit and bearing in mind it's a lower league football club that never makes a profit that looks highly unlikely you will ever see you're £5000 again until someone bought it off you.

 

I'm not sure how serious but that offer from Corney was he may have been talking hypothetically but I'd be amazed if people were mad enough to do this basically you would be giving him £5000.

 

It's a no from me.

I'd agree with that. He's basically offering to write off past year losses (which should be written off anyway as the debt hasn't built any improved performance) and then sell for £2.5m something he/his partners paid £1 for and have managed to halve the number of paying customers. He'd retain all assets and in doing so would limit any scope for progress.

 

We'd be in the same situation Stockport were with Kennedy.

[Stevie_J]

So we each give Corney five grand and he remains by far the biggest shareholder in the club? Nah, you're all right...