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Summary of Questions Received - "Ask the Chairman"

Guest nonaenever

By Guest nonaenever
in The opinions4u Terraces - Latics Forum

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yarddog73 John Sheridan

yarddog73

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If the footballing side is that part of the business they don't want why on earth would you spend £7 million on a half built under utilised event centre attached to the said football ground, it's staggering that anyone would actually think it was worthwhile, look at the empty retail units and large areas of the stand which are nowhere near finished - it's a mess, a club shop which we probably earns us tuppence a week which seems to be their on sufferance, it's just saddled the club with almighty debt and staggeringly appears to have made us an even less attractive proposition than we were to start with. Fans taking over is pie in the sky talk, every possible revenue stream is tied up, every single asset has been cashed in and there's no foundation to even start something a fresh, it's not having hope that kills you and unless someone with serious money comes in we are stuck with what we've got.

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Guest nonaenever

Guest nonaenever

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Exactly nzlatic. Collectively we need to consider our next move here as this is certainly something which needs to be properly explored.

 

A fans meet is needed as a message board isn't the right place to debate this imo.

 

Spot on Andy - and in agreement with nzlatic's excellent comment too (but multi quote doesn't seem to work). Business is all about negotiation; we've effectively got a starting point. Message boards are certainly not the way to go about this but it has been a useful conduit initially. Some of the comments are bizarre but I am not going to criticise - everyone is entitled to their opinion. I`m going to consider the next steps.

 

What people need to realise though is this; the revenue streams don't amount to nothing - if there was ever to be a "fan buyout" of a 75% shareholding, there are current revenue streams amounting to circa £1.9m of income annually - not an insignificant amount. Currently, though, the outgoings are higher than that. The losses are currently being covered; and to be frank, we should be grateful for that - it keeps us alive.

 

So, I`m going to have a think on things, get down to Lincoln, enjoy the match and refrain from any more debate on here.

 

I will provide an update only when there is anything material to report regarding "questions for the Chairman" and any other related issues.

 

Thanks for all the contributions - and please keep on supporting the Latics.

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mcfluff1985 David Eyres

mcfluff1985

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To be fair, Corney has bent the truth on several occasions. He's in a place of great responsibility, the fans have been at BP for decades before him, and the same fans will still be at BP long after he's gone - in what ever state it's in - I think they've got the right to call him out on a few uncertainties.

Difference between lying and being wrong

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GlossopLatic David Eyres

GlossopLatic

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So the offer is basically to take over the running of the football side of the business for £2.5 million? What if it was free? Eg the trust gets given a 75% stake. Would we as fans want it then?

 

If so, rather than this being seen by some as a ridiculous offer, '£2.5m for a loss making business', could this be a starting point for a negotiation?

Even if he did give it away that would be just the beginning of the problems we would need to find £1million just to see us through to 2018.

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kowenicki David Eyres

kowenicki

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Posted (edited)

I haven't been following this too closely.

 

Are we saying it is £2.5m to buy the team/franchise only?

 

You then have the income from only the league and ticket sales to pay players and all staff plus a rent to the ground owners?

 

Is this the proposition?

 

If so, I am a little bemused.

Edited by kowenicki
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Blue_Guru Earl Barrett

Blue_Guru

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I think the animosity towards Corney stems from his arrival as one of TTA our saviours from the threat of extinction and after so much initial promise...If you look at the sorry state we are in now it is worlds apart.

 

I actually think the fact Corney is still around is a major burden for him as had it been a new face that acted as the administrator of Blitz assets then I think there would be more understanding from a lot of fans. Corney also doesn't help himself by the way he makes out he is keeping us together, and we are punching above our weight (which I am sure he is, and we are). But many fans still remember all the promise from when he rode in on a white horse and therefore have very little sympathy. The fact is we were in a much better state (generally speaking from a revenue/fan base perspective) than were we find ourselves now.

 

Some people cant let go of those initial promises which were obviously Blitz promises, and demand to know how Corney let us get into this mess. Some people don't want to search for answers on how we got here and simply want to think up solutions.

 

My apathy comes from the reality that there are unlikely to be any solutions to our downfall other than the below:

 

1) We get an investor or new buyer which I am unclear on how realistic the demands are from the current hierarchy on OAFC as a business proposition and this is where I recommend the questioning goes. Not that we can change or influence it unless fans want to try a buy out.

2) We get really, really lucky and get a fluke manager who can cobble together a good team on a very low budget and goals and wins come which will bring some fans back and increase revenues.

3) We continue with the hand to mouth life under existing ownership whilst they prioritise recouping their lost monies through any assets and means possible. I don't think they want to kill the club as it is important to maintaining some revenues to brassbank. However we are definitely not the priority which many fan cant accept.

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yarddog73 John Sheridan

yarddog73

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Blue_Guru

 

1) Not going to happen

 

2) We've had a couple of decent managers in recent times and they've been cashed in like any other asset we have, if Robbo as us climbing the table in the new year he will be cashed in likewise.

 

3) Your about spot on there.

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Andy b Earl Barrett

Andy b

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Fan ownership may not be a panacea but greater fan input, influence and a sense of ownership can go a long way imo. It is the void between the club and fans which is doing the damage and creating the negativity around everything OAFC related. The fact that we could only generate 25k worth of funding from the scoreboard initiative (an average of less than 8 pounds per dedicated and devoted latics fan who still goes regularly) is really indicative of this. A well intended initiative no doubt but the fan base of the club did not feel it was their initiative. Result - a lack of buy in. There would be merit in the club handing over the running of a part of the club (probably the commercial off the pitch stuff) to the fans. Commercial staff would be employed by the fans and all profits could be put back into the club with an agreement that a fixed percentage goes direct to the playing budget.

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Andy b Earl Barrett

Andy b

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Ps but more importantly we need to engage with the club in a unified voice and put a compelling proposal forward for how we as fans can help (manpower, finances, passion, contacts - whatever) to move the club in the right direction - more income, better prospects on the pitch, happier and more engaged fan base and ultimately more fans through the door

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HarryBosch John Sheridan

HarryBosch

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Posted (edited)

Agree Fruitygoo, it's more than likely just the name OAFC.......plus whatever revenue streams the x3 chaps have set up to go to the club (which isn't much it seems). The owners don't have what happens on the pitch as the priority. Making money is king, not for the club but for their back pocket. I don't get how any fans can say fair enough if they owned a business etc. This is football!!

The only way we'd be solvent / profitable would be for all revenue streams to go back to the club. Coz then it would just about fund itself. The owners bought the land and have now built houses on some of it. How much land do we have left if sold and any new owners wanted to expand...?

The current regime have set up a complete mess if any new owner who genuinely wants the club to grow and expand due to having to buy everything back......

No one ( in my opinion) is going to buy the land, the club, the stand as is way too expensive for all.

No one is going to invest in the clubs name as no return on investment (if you're not a fan).

All that's going to happen as things currently are is that we'll eventually go bust (years / months down the road - a slow painful death) and the owners will build houses or non-football related activities on the site. It's slow dealth by stealth in plain sight. We all know deep down this is what's happening but not enough of us are willing to accept or to be able to do anything about it (me included).

 

In short (and this is long) the owners couldn't really care less about what happens on the pitch and haven't for years.....gutting really......

 

Like a lot of people you seem to assume that the value of the land, club, etc... will never increase or decrease. That circumstances will never change.

 

History tells us things always change and land & property prices always go up - a point will come when OAFC can/will become an attractive proposition to somebody. And an offer will come in that's acceptable to TTA, whatever that means. And their circumstances will also undoubtedly change at some point...

Edited by HarryBosch
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Fruitygoo Earl Barrett

Fruitygoo

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Posted

 

Like a lot of people you seem to assume that the value of the land, club, etc... will never increase or decrease. That circumstances will never change.

 

History tells us things always change and land & property prices always go up - a point will come when OAFC can/will become an attractive proposition to somebody. And an offer will come in that's acceptable to TTA, whatever that means. And their circumstances will also undoubtedly change at some point...

 

What land? The 'Club' owns precious little....

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b0ndl1ne Earl Barrett

b0ndl1ne

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If the club made a £1million loss a year then the fans plc would have to find 750k NET over the course of the year. Doesn't sound viable to me.

 

Buying into the club is as I see it purchasing an opportunity to own a football club that is 2 divisions below the premier league, has the opportunity to develop and sell players for profit, can break even with larger crowds that it's had in the past and may benefit from a fairer downstream of funds from TV rights

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underdog David Eyres

underdog

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If the club made a £1million loss a year then the fans plc would have to find 750k NET over the course of the year. Doesn't sound viable to me.

Buying into the club is as I see it purchasing an opportunity to own a football club that is 2 divisions below the premier league, has the opportunity to develop and sell players for profit, can break even with larger crowds that it's had in the past and may benefit from a fairer downstream of funds from TV rights

Never mind having to fund the monthly outgoings/losses. How do you share that responsibility?

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