GlossopLatic Posted August 23, 2017 Share Posted August 23, 2017 (edited) 31 minutes ago, kowenicki said: Etihad stadium is a clue. I think football club owners can just make direct investments to a football club it doesn't have to go through a sponsor. What I don't think they can do anymore is put the money in via directors loans and put the club in massive debt. If a takeover went through he could put the money straight in and we would come out of any embargo that we are under. Edited August 23, 2017 by GlossopLatic Quote Link to comment Share on other sites More sharing options...
Boys in Blue Posted August 23, 2017 Share Posted August 23, 2017 I can't help but feel that Shez knew about probable investment but expected it to be done by now- hence his frustration. I can't imagine that he'd sign a Belgian winger if he thought that would take him to the top of an EFL imposed salary cap. Surely he'd prioritise other areas of the team. It makes me nervous that we're obviously waiting for money to clear before officially signing new players- hence the keeper has a done deal that isn't official. Dont know if this is an issue with proof of funds to EFL or the money not having arrived yet. Quote Link to comment Share on other sites More sharing options...
jorvik_latic Posted August 23, 2017 Share Posted August 23, 2017 6 minutes ago, Boys in Blue said: I can't help but feel that Shez knew about probable investment but expected it to be done by now- hence his frustration. I can't imagine that he'd sign a Belgian winger if he thought that would take him to the top of an EFL imposed salary cap. Surely he'd prioritise other areas of the team. It makes me nervous that we're obviously waiting for money to clear before officially signing new players- hence the keeper has a done deal that isn't official. Dont know if this is an issue with proof of funds to EFL or the money not having arrived yet. We signed Kyeremeh after the embargo according to Corney. We're working within restrictions. Quote Link to comment Share on other sites More sharing options...
leeslover Posted August 23, 2017 Share Posted August 23, 2017 1 hour ago, latics22 said: I nearly What I don't get is how does new investment mean we have more money? Unless they blag it as advertising. That's exactly the sort of questions the Trust will be asking if we are formally notified of an interest in someone buying the club Quote Link to comment Share on other sites More sharing options...
underdog Posted August 23, 2017 Share Posted August 23, 2017 The Trust will monitor the situation. I am sure if confirmed and what it is whether iinvestment or new owner the necessary business checks will have to be done first..yes our fave two words Due diligence.....aagghhh lets see what pans out Quote Link to comment Share on other sites More sharing options...
oldhamoafc Posted August 23, 2017 Share Posted August 23, 2017 We have less players than last season, and the new signings can't be on much. So what's changed? Have we lost some sponsorship or something? Crowds even worse? How've we got this huge wage bill compared to turnover? Quote Link to comment Share on other sites More sharing options...
bozman Posted August 23, 2017 Share Posted August 23, 2017 12 minutes ago, oldhamoafc said: We have less players than last season, and the new signings can't be on much. So what's changed? Have we lost some sponsorship or something? Crowds even worse? How've we got this huge wage bill compared to turnover? Exactly what I was thinking. If we were within FFP rules last season, how have we breached it with less players? Are we paying Hunt, Duffus and Davies £20k a week each? Quote Link to comment Share on other sites More sharing options...
Magister Posted August 23, 2017 Share Posted August 23, 2017 1 hour ago, Boys in Blue said: I can't help but feel that Shez knew about probable investment but expected it to be done by now- hence his frustration. I can't imagine that he'd sign a Belgian winger if he thought that would take him to the top of an EFL imposed salary cap. Surely he'd prioritise other areas of the team. It makes me nervous that we're obviously waiting for money to clear before officially signing new players- hence the keeper has a done deal that isn't official. Dont know if this is an issue with proof of funds to EFL or the money not having arrived yet. So Shez is now an accountant and investment manager ......come on he is told by somebody else what is available .etcetc Quote Link to comment Share on other sites More sharing options...
rudemedic Posted August 23, 2017 Share Posted August 23, 2017 How many home games had we played 4 weeks ago? Fairly certain the Girona game was less than 28 days ago. I'd fully expect us to be struggling over the summer due to wage bills with limited income, especially if some of the income we would normally spend over the summer had been spent in the season before. When are we due our payments from the football league, presumably near the start of the season? There was some talk about Wellens saying he hadn't been paid, but it was downplayed due to it being late July. We may well have been in an embargo and we may well no longer be in an embargo due to extra money coming in. Plus if the 3 weeks was a reference to when we were removed from the embargo as opposed to when we were put in, it all stacks up. It's Simon Corney, he might not lie but you do have to work out what he has said when things don't add up. Quote Link to comment Share on other sites More sharing options...
bozman Posted August 23, 2017 Share Posted August 23, 2017 25 minutes ago, underdog said: The Trust will monitor the situation. I am sure if confirmed and what it is whether iinvestment or new owner the necessary business checks will have to be done first..yes our fave two words Due diligence.....aagghhh lets see what pans out Is the chairman obliged to tell the trust if he plans to sell a percentage of his shares or would he only have to inform you if there was a new majority shareholder ? Quote Link to comment Share on other sites More sharing options...
deyres42 Posted August 24, 2017 Share Posted August 24, 2017 https://www.efl.com/-more/governance/efl-rules--regulations/appendix-5---financial-fair-play-regulations/ Quote Link to comment Share on other sites More sharing options...
Boys in Blue Posted August 24, 2017 Share Posted August 24, 2017 So Shez is now an accountant and investment manager ......come on he is told by somebody else what is available . I'm not saying Shez is the accountant, but surely someone at the club is aware enough of finance and/or the embargo to tell Shez when he's getting close to what the club can spend- even if that's a temporary situation. If there's no-one who can do that, then no wonder we keep getting put under embargo Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted August 24, 2017 Share Posted August 24, 2017 The old FFP chestnut which only seems to be enforced on little Oldham who still only have one keeper on the books -that's working then. Quote Link to comment Share on other sites More sharing options...
BP1960 Posted August 24, 2017 Author Share Posted August 24, 2017 7 hours ago, oldhamoafc said: We have less players than last season, and the new signings can't be on much. So what's changed? Have we lost some sponsorship or something? Crowds even worse? How've we got this huge wage bill compared to turnover? Well it's not gone on performance bonuses. Quote Link to comment Share on other sites More sharing options...
youngen Posted August 24, 2017 Share Posted August 24, 2017 15 hours ago, deyres42 said: You all laughed when I mentioned embargo... Didnt laugh, just dont even bother acknowledging embargos anymore Quote Link to comment Share on other sites More sharing options...
Hands on Posted August 24, 2017 Share Posted August 24, 2017 I do wonder if some of you have actually taken the trouble to listen to what SC said. He said we are under an embargo, he has the letter, which started three weeks ago because we are paying too much to our players. Now we assume this is a transfer embargo because that is what the EFL control so we can assume this is why we have been looking at players out of contract. The embargo doesn't stop us taking on these players but I think if nothing changes EFL fines could be on their way. Reference to due diligence and a name followed a direct question about wanting to sell the club. If the sale goes through before the end of August the new owners can under FFP simply inject money, so called investment, into the club to augment our budget as long as it doesn't create debt ie they make a gift. FFP at our level is a salary versus income assessment and does not include transfer fees. Clearly having built a squad with players on contracts we are now hurting because some of those well remunerated players can't be arsed and there is very little anyone can do about it unless and until someone throws some more money at the club as a so called investment. The Shez rants and strange formations now seem to make more sense. There is a chink of sunlight but the outlook is still overcast. Quote Link to comment Share on other sites More sharing options...
underdog Posted August 24, 2017 Share Posted August 24, 2017 (edited) 11 hours ago, bozman said: Is the chairman obliged to tell the trust if he plans to sell a percentage of his shares or would he only have to inform you if there was a new majority shareholder ? Hello bozman, I don't know all in the ins and outs of owning a business so what I'm typing is what I believe but if wrong, I'm sure someone with more knowledge will correct it and expand on it. So in my mind....your trust rep is on the board of OAFC and registered at companies house to that effect with all the rules/regulations/articles attached to that post and as an owner of a business (OAFC). Therefore, as he is a board director I will presume he would be one of the first to be advised if there was a firm offer on the table with regards to investment/change of ownership at the same time as the other OAFC board directors. I will presume there will be a point where the Trust directors will then be officially told via the rep of what the offer is without breaking any confidences/rules/protocol for all said parties. Owners, OAFC board, trust board, club....phew.... Your rep did attend last Saturdays home match but was not advised of anything firm before his pre-match exit of the boardroom hospitality area, nor aware of any firm offer on the the table up to last night. So, it's exciting news to hear....let's see what happens Edited August 24, 2017 by underdog Quote Link to comment Share on other sites More sharing options...
bozman Posted August 24, 2017 Share Posted August 24, 2017 1 minute ago, underdog said: Hello bozman, I don't know all in the ins and outs of owning a business so what I'm typing is what I believe but if wrong, I'm sure someone with more knowledge will correct it and expand on it. So in my mind....your trust rep is on the board of OAFC and registered at companies house to that effect with all the rules/regulations/articles attached to that post and as an owner of a business (OAFC). Therefore, as he is a board director I will presume he would be one of the first to be advised if there was a firm offer on the table with regards to investment/change of ownership at the same time as the other OAFC board directors. Your rep did attend last Saturdays home match but was not advised of anything firm before his pre-match exit of the boardroom hospitality area, nor aware of any firm offer on the the table up to last night. So, it's exciting news to hear....let's see what happens Thanks for that. I actually did a bit of my own research on this as, ironically, it's also relevant to a company I'm involved in at the moment. Apparently his obligation with regard to informing you of such matters depends on what is stated in the Articles of Association of the company. And good to hear they're letting the Trust rep back in the boardroom again now ! Quote Link to comment Share on other sites More sharing options...
underdog Posted August 24, 2017 Share Posted August 24, 2017 3 minutes ago, bozman said: Thanks for that. I actually did a bit of my own research on this as, ironically, it's also relevant to a company I'm involved in at the moment. Apparently his obligation with regard to informing you of such matters depends on what is stated in the Articles of Association of the company. And good to hear they're letting the Trust rep back in the boardroom again now ! ...thanks Bozman....I was just about to edit that specific part about "obligation to tell us.." and with regards to letting him back in the boardroom....well he is not invited into "boardroom" as it is called pre-match. That is at the invite of the chairman only and the chairman has not extended hospitality again this season to your trust rep. He stays pre match in the north stand hospitality area to raise awareness of trust/club to people and leaves to take his ususal seat up in the main stand OAFC board meetings in another matter and I'm sure we will get an update from your Rep soon on any progress with this Quote Link to comment Share on other sites More sharing options...
singe Posted August 24, 2017 Share Posted August 24, 2017 Having been a (very minor) shareholder through my job in a company Stelios used to own and all but liquidated, I can tell you that you are not entitled to hear much, get to hear very little and very late. Quote Link to comment Share on other sites More sharing options...
underdog Posted August 24, 2017 Share Posted August 24, 2017 15 minutes ago, singe said: Having been a (very minor) shareholder through my job in a company Stelios used to own and all but liquidated, I can tell you that you are not entitled to hear much, get to hear very little and very late. So many things to consider isn't there, what we the fans think we should be allowed to know, to what legally the Trust and OAFC board are entitled to know, to employees of the club as well, to the timing of if why what when...to oohphs there it is. we can only be on guard and see how what happens. Quote Link to comment Share on other sites More sharing options...
jorvik_latic Posted August 24, 2017 Share Posted August 24, 2017 26 minutes ago, singe said: Having been a (very minor) shareholder through my job in a company Stelios used to own and all but liquidated, I can tell you that you are not entitled to hear much, get to hear very little and very late. Did your shares entitle you to a seat on the board though? That's where this is different. Quote Link to comment Share on other sites More sharing options...
singe Posted August 24, 2017 Share Posted August 24, 2017 2 minutes ago, jorvik_latic said: Did your shares entitle you to a seat on the board though? That's where this is different. Are we entitled or it is benevolently? Quote Link to comment Share on other sites More sharing options...
jorvik_latic Posted August 24, 2017 Share Posted August 24, 2017 1 minute ago, singe said: Are we entitled or it is benevolently? It's set up so that the Trust is entitled to a seat on the board. Quote Link to comment Share on other sites More sharing options...
ChaddySmoker Posted August 24, 2017 Share Posted August 24, 2017 2 hours ago, Hands on said: I do wonder if some of you have actually taken the trouble to listen to what SC said. No. There is never any point. Quote Link to comment Share on other sites More sharing options...
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