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Today's Shitstorm.


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Blitz wants his money back

 

Potentially putting us into Admin. While both relegations are entirely the fault of the Lemsagams. Blitz only has himself to blame for being stuck with Abdallah him and Corney had 7 years after Blitz "cut ties" with OAFC to find an appropriate buyer who could have taken the club off him they didn't and found a clown instead.

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‘Attractive’ as administration seems to be to rid ourselves of the Lemsagams we would still need to find someone and fairly sharpish to fund our football club going forward

 

Blitz stepped back from funding us and Lemsagam has obviously struggled

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As many fans as possible need to donate next seasons ST money to the contingency fund and local businesses will also need to get involved.

Any supporters considering buying a ST for whatever reason need to stop and think about it now!!

Edited by oafc1955
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31 minutes ago, Ritchierich said:

The beginning of the end game for that wanker Blitz I suspect. It always was and always will just be about money for him

There were a lot of easier ways of making money from property development than buying a football club at the time he got involved.

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16 minutes ago, Dave_Og said:

There were a lot of easier ways of making money from property development than buying a football club at the time he got involved.


You know the dance Dave

 

Even Blitz had to turn the money tap off funding the club and stepped back 

 

Lemsagam thought he could just chuck a few £million at us and we would charge up the leagues

 

Buying the club is the least expensive bit

 

Its funding the club for its day to day activities but more about funding the club to enable it to try and meet our supporters minimum expectations getting back into the Football League 

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So two sides to this. Go into Admin, Administrators try and facilitate a sale, in the meantime we would need funding which we don’t have due to a lack of assets so liquidation could follow quickly after if sale doesn’t progress.

 

Or the sale gets away, and the new owner has no debt, we get a points deduction for next year (do we ?) hopefully stay up and spend that 12 months with the new owners negotiating a a purchase of the stadium and surrounding land. 
 

Have I missed something ? 

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"Former Oldham Athletic owner Simon Blitz is understood to be considering calling in his debts - a move that could plunge the club into administration."

 

Important caveats, but I suppose it depends on who is the source of the story!

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16 minutes ago, LightDN123 said:

So two sides to this. Go into Admin, Administrators try and facilitate a sale, in the meantime we would need funding which we don’t have due to a lack of assets so liquidation could follow quickly after if sale doesn’t progress.

 

Or the sale gets away, and the new owner has no debt, we get a points deduction for next year (do we ?) hopefully stay up and spend that 12 months with the new owners negotiating a a purchase of the stadium and surrounding land. 
 

Have I missed something ? 

yes

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4 minutes ago, Dickie Down said:

The article does set out very nicely the predicaments facing the club.

 

Any administration would, I fear, result in our relegation to NLN at the end of next season.

 

At best

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Truth be told, if there is no administration then what are the chances of ALMO going? 

 

If ALMO stays, does anyone seriously believe OAFC will turn round and suddenly start winning? No me neither. 

 

The club must get rod of ALMO in the first instance for it ever to have a CHANCE of turning round

 

Everything comes with risks attached but in order to ever get a CHANCE of happiness at BP back and a positive culture again, then more hard decisions need to be taken 

 

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If we go into admin, is the best case scenario that there's a buyer ready to step in immediately who will finance and run the club in such a way that we can absorb a points deduction and still stay up next season?!

Edited by nzlatic
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Just now, nzlatic said:

If we go into admin, is the best case scenario that there's a buyer ready to step in immediately who will finance and run the club in such a way that we can absorb a points deduction and still stay up next season?!

yes, i'd say so.  The worst case is that unless someone is in that position more or less immediately then the administrator will have no option but to liquidate the club

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Just now, nzlatic said:

If we go into admin, is the best case scenario that there's a buyer ready to step in immediately who will to finance and run the club in such a way that we can absorb a points deduction and still stay up next season?!

I suppose it is yes.

 

It would, however, take a lot of  good things to happen very quickly.

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3 minutes ago, Dave_Og said:

yes, i'd say so.  The worst case is that unless someone is in that position more or less immediately then the administrator will have no option but to liquidate the club

 

2 minutes ago, Dickie Down said:

I suppose it is yes.

 

It would, however, take a lot of  good things to happen very quickly.

It says a lot about the current circumstances that, given the unlikeliness of that best case scenario and the severity of the worse case scenario, I'm close to thinking I'd be happy to take the gamble.

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3 minutes ago, nzlatic said:

 

It says a lot about the current circumstances that, given the unlikeliness of that best case scenario and the severity of the worse case scenario, I'm close to thinking I'd be happy to take the gamble.

 

I've long had the thought that a large part of the problem is that Latics are caught between the historical animosities of two ancient religions.

 

Blitz et al are of the the Jewish faith whilst the Lemsgams are Muslim. That is generally a problem, particularly currently given the problems around Israel and Palestine. Neither side will be seen to give anything to the other.

 

The only chink of light is that Passover has come and gone and Ramadan concludes with Eid next week, very much coinciding with the end of the season. Both sides will be free from their religious obligations and just might concentrate on sorting the job out.

 

Just a sliver of hope that things might move along then.

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There are parties out there who want to buy the club. If in admin the club loses the multi million pound asking price. Given the contract situation of the majority of the squad it'll be ideal timing as running costs will be as low as they can be for a period. 

 

Blitz may even handle the running and sell the lot. 

 

Stop forward Darren Royle, FLG, Rajs Bros, IRA and any other groups interested in it please......

 

One off chance to remove AL this. If he carries on with the club he'll always want the millions, always fight the court case on the stand and we will rot to death. 

 

Risk worth taking this.

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1 minute ago, GlossopLatic said:

Have we not danced this Dance before and Abdallah just paid up out of court? Would this play out any different?

 

I believe he didn't quite pay it all. Of course he could pay up again and kill the admin risk off, if he can......

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