Crusoe Posted January 8, 2017 Share Posted January 8, 2017 An ex Premier League club with proud history going to the wall? No chance. That's exactly why I think they would. A club people have heard of but most don't really care about. A cautionary tale. Besides, bail one out and you set a precedent that you'll bail everyone out, which they can't do and wouldn't want to. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted January 8, 2017 Share Posted January 8, 2017 That's exactly why I think they would. A club people have heard of but most don't really care about. A cautionary tale. Besides, bail one out and you set a precedent that you'll bail everyone out, which they can't do and wouldn't want to. Not saying they themselves would bail us out as such but they would find someone to take it on. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 Blitz and Gazals interests are protected, all the surrounding land the OEC and any other tangible assets are ring fenced and would be protected even if we entered administration, until we know the finances of the OEC we don't even know if OAFC benefit at all from it but I'd hazard a guess TTA are happy for the team/club to be placed in administration whilst they make hay with the areas of the business that they are really interested in. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted January 8, 2017 Share Posted January 8, 2017 Blitz and Gazals interests are protected, all the surrounding land the OEC and any other tangible assets are ring fenced and would be protected even if we entered administration, until we know the finances of the OEC we don't even know if OAFC benefit at all from it but I'd hazard a guess TTA are happy for the team/club to be placed in administration whilst they make hay with the areas of the business that they are really interested in. How would that work? And why didn't they do it years ago? Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted January 8, 2017 Share Posted January 8, 2017 Blitz and Gazals interests are protected, all the surrounding land the OEC and any other tangible assets are ring fenced and would be protected even if we entered administration, until we know the finances of the OEC we don't even know if OAFC benefit at all from it Spot on. And why didn't they do it years ago? Was there ever a time when future financial expectations for OAFC Ltd were as low as this? Quote Link to comment Share on other sites More sharing options...
deyres42 Posted January 8, 2017 Share Posted January 8, 2017 Nobody buys the club unless land and stand comes with it unless it is some form of supporter led thing. Quote Link to comment Share on other sites More sharing options...
opinions4u Posted January 8, 2017 Share Posted January 8, 2017 Blitz and Gazals interests are protected, all the surrounding land the OEC and any other tangible assets are ring fenced and would be protected even if we entered administration, until we know the finances of the OEC we don't even know if OAFC benefit at all from it but I'd hazard a guess TTA are happy for the team/club to be placed in administration whilst they make hay with the areas of the business that they are really interested in. They're owed as estimated £9m by the football club. I don't think that money is "protected". Their OEC business is, I'd suggest, pretty much dependent on the football club still existing in some form. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 You know that there is more than one business involved then, only Oldham Athletic (2004) Association Football Club Limited need to be placed in administration, it would have little effect on their other businesses and it may even benefit them, isn't that how administration works? Quote Link to comment Share on other sites More sharing options...
opinions4u Posted January 8, 2017 Share Posted January 8, 2017 You know that there is more than one business involved then, only Oldham Athletic (2004) Association Football Club Limited need to be placed in administration, it would have little effect on their other businesses and it may even benefit them, isn't that how administration works? The assets of the football club get sold off to pay creditors. What assets are worth what they're owed? Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 If they wanted rid of the football club wouldn't they be free to negotiate with new owners for use of the ground and OEC? If Corney is so skint why are they going full steam ahead with building the next block of houses behind the Chaddy? Quote Link to comment Share on other sites More sharing options...
opinions4u Posted January 8, 2017 Share Posted January 8, 2017 If they wanted rid of the football club wouldn't they be free to negotiate with new owners for use of the ground and OEC?Yes. But negotiations are two sided. If Corney is so skint why are they going full steam ahead with building the next block of houses behind the Chaddy?That development has been on hold for a year. Is it anything to do with Corney? I thought it was down to his mates. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted January 8, 2017 Share Posted January 8, 2017 The assets of the football club get sold off to pay creditors. The assets are subject to charges from Brassbank and Necarcu etc. together with their bankers Quote Link to comment Share on other sites More sharing options...
opinions4u Posted January 8, 2017 Share Posted January 8, 2017 The assets are subject to charges from Brassbank and Necarcu etc. together with their bankers And aren't that big. Quote Link to comment Share on other sites More sharing options...
joe_lead Posted January 8, 2017 Share Posted January 8, 2017 I have no knowledge of the overall set up of all the quoted companies but Oldham Athletic (2004) Association Football Club Limited is likely a member of a group of Companies where they utilise 'our' losses to off-set the Corporation Tax they would otherwise have to pay on the profit making companies within the overall Group. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted January 8, 2017 Share Posted January 8, 2017 I have no knowledge of the overall set up of all the quoted companies but Oldham Athletic (2004) Association Football Club Limited is likely a member of a group of Companies where they utilise 'our' losses to off-set the Corporation Tax they would otherwise have to pay on the profit making companies within the overall Group. Not part of a Group. Quote Link to comment Share on other sites More sharing options...
Aarondo Westy Posted January 8, 2017 Share Posted January 8, 2017 (edited) Can't say I fully understand admin tbh so again just a theory here but could it not be the case that, someone has come along and said I want to buy It all from you but am not willing to spend x million on paying the clubs debt before buying anything. I'll give you say 10million but I want the land the stand the OEC and you to put the club in to admin and we can start again next year? That way most if not all the losses are recouped by the tta again I can't say for certain that would be true just a theory and they could leave which apprantly they are desperate to do so. In my personal opinion getting everything the stadium the stand the land the OEC is the only way the club is remotely attractive to a buyer. Could be well wide of the mark and more than likely I am lol Edited January 8, 2017 by Aarondo Westy Quote Link to comment Share on other sites More sharing options...
opinions4u Posted January 8, 2017 Share Posted January 8, 2017 Can't say I fully understand admin tbh so again just a theory here but could it not be the case that, someone has come along and said I want to buy It all from you but am not willing to spend x million on paying the clubs debt before buying anything. I'll give you say 10million but I want the land the stand the OEC and you to put the club in to admin and we can start again next year? That way most if not all the losses are recouped by the tta again I can't say for certain that would be true just a theory and they could leave which apprantly they are desperate to do so.I can't see how that benefits TTA. In my personal opinion getting everything the stadium the stand the land the OEC is the only way the club is remotely attractive to a buyer.And this is why Blitz and Gazal lent the money to build it and, bizarrely in my view, add their gold stars to it. So that makes the OEC vital to the future success of the football club. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 Going back to the administration point, it's difficult to see that happening as we are actively looking to recruit, if the embargo isn't lifted and nobody signs it may well become an option. Quote Link to comment Share on other sites More sharing options...
OAFCinWolves Posted January 8, 2017 Share Posted January 8, 2017 How would that work? And why didn't they do it years ago? Just maybe not everything was in place and protected? 5 year plans and all that? Quote Link to comment Share on other sites More sharing options...
OAFCinWolves Posted January 8, 2017 Share Posted January 8, 2017 (edited) Going back to the administration point, it's difficult to see that happening as we are actively looking to recruit, if the embargo isn't lifted and nobody signs it may well become an option. Sometime you don't have a choice it can become illegal to trade if you continually can't pay your bills as they fall....insolvent Edited January 8, 2017 by OAFCinWolves Quote Link to comment Share on other sites More sharing options...
Kusunga_Is_God Posted January 8, 2017 Share Posted January 8, 2017 If he walks what happens? Just answer that He needs to stand aside, we need to bring in a competent board and not just one who wants to constantly line their pockets with anything going. How you can support a chairman who over the course of 10 years has continually asset stripped the club. A chairman who has overseen attendances drop to crippling levels. Corney also has continued to syphon the club of money to build a new stand and said stand is owned under a different company!? Another example of Simon's incompetence was cashing out on the tarky clause just so he could have 50k quick in his pocket. He's a failed business man and has single handedly destroyed this club. How on earth can you suggest he's done an alright job? He's devious and unfair. Quote Link to comment Share on other sites More sharing options...
Andy b Posted January 8, 2017 Share Posted January 8, 2017 If he goes the fans takeover, we cut our cloth accordingly and we start again. We get our club back. Seems straightforward to me. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 Unless even bigger clowns who are currently feathering their nests have even bigger plans of grandeur. If he was to go you'd have to clear out the board on mass otherwise it would be a waste of time. Quote Link to comment Share on other sites More sharing options...
deyres42 Posted January 8, 2017 Share Posted January 8, 2017 If he goes the fans takeover, we cut our cloth accordingly and we start again. We get our club back. Seems straightforward to me. Who are these fans with the required expertise? Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted January 8, 2017 Author Share Posted January 8, 2017 They will step up when needed, are you seriously suggesting they'd do a worse job than those we've been lumped with? Quote Link to comment Share on other sites More sharing options...
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