Dave_Og Posted May 12, 2022 Share Posted May 12, 2022 30 minutes ago, tGWB said: In 2003, Blitz Gazal Corney paid £7m for the football club. the stadium, the land the stadium and the surrounding land Oldham Athletic 2004 Ltd was formed with Blitz Gazal and Corney as Directors The stadium, the land it sits on and surrounding land were made assets of a separate company, Brassbank Ltd (Blitz & Gazal) In 2010, Blitz and Gazal resigned as Directors of Oldham Athletic 2004 Ltd saying " I have found it a constant battle and uphill struggle more recently and I don't feel that I am able to give the clubs supporters the contribution they are looking for in the future" "Simon Corney will take over the reins as Chairman and I know that, along with Alan Hardy, Ian Hill and Barry Owen, they will be working hard to ensure the club can move forward" In 2015 the North Stand was finally opened at a build cost of £6.5m, some £2m over the original budget. The build cost had a £700k Grant and £1.6m of Council Funds. The North Stand is owned by Brassbank Ltd (Blitz & Gazal) In January 2018, Abdallah Lemsagam became the majority shareholder of the company Oldham Athletic 2004 Ltd, taking over the 97% shares owned by Simon Corney, with the Trust retaining the other 3%. This meant that the running of the club would be reliant on him as the owner, being responsible for any ongoing liabilities, debt and future investment at the club Abdallah Lemsagam did not buy the stadium, the land it sits on or any surrounding land My personal view, without any insider information is that: Blitz and Gazal must have tried over the last 20 years to rid themselves of their attachment with the club, without success The physical assets they originally purchased for £7m must have massively depreciated in value especially with the club having fallen out of the Football League. The stands will have depreciated on their accounts and that's before we take into account the monies needed to bring them up to a decent standard after years of poor maintenance The land will have increased in value but is fairly useless to them with a football stadium sat on it, further complicated by a difficult owner of the football club The original £6.5m build cost of the North Stand will have depreciated in value on the books and additionally by the clubs fall out of the Football League, but not to the degree of the rest of the stadium Average crowds in the National Conference will reduce fairly dramatically which obviously restricts the opportunity to improve our future on the pitch, with supporter revenue, sponsorship, tv monies etc all being significantly down, even compared to the last two years A recent published accounts for Oldham Athletic 2004 Ltd showed debts at the club of c£5m. The debt was not broken down but I suspect maybe £2m+ could well be monies Abdallah Lemsagam has put into the club which has been converted to loans In most business acquisitions the assets of the purchase and revenue streams are considered along with the opportunity to grow the business. Its not unusual to pay the seller for a perceived value in the business of "goodwill" which is depreciated on the books going forward. You would need to be a genius to tackle that one at Latics All in all, with the likely expectations of all parties tangled up in our club, I am not surprised at all that we haven't been able to find a good owner Those are all the 'headlines' but as you know there are good few other issues running that further muddy the waters Its a right mess I'm not sure why you thought my point that Brassbank own the stadium and surrounding land is incorrect? Link to comment Share on other sites More sharing options...
tGWB Posted May 12, 2022 Share Posted May 12, 2022 13 hours ago, BP1960 said: I don't think I'm the only one confused by who owns what at this club. Break it down for me listing all the parties concerned. 6 hours ago, Dave_Og said: Brassbank own the ground and all surrounding land. Simple as that. Just thought a more detailed response might help BP and some other OWTB forum readers Link to comment Share on other sites More sharing options...
Dave_Og Posted May 12, 2022 Share Posted May 12, 2022 10 minutes ago, tGWB said: Just thought a more detailed response might help BP and some other OWTB forum readers I agree. Thing is though the f acts really aren't complex at all. AL owns club, BB owns the rest. The ramifications have many complexities Link to comment Share on other sites More sharing options...
BP1960 Posted May 12, 2022 Share Posted May 12, 2022 5 hours ago, Dave_Og said: I agree. Thing is though the f acts really aren't complex at all. AL owns club, BB owns the rest. The ramifications have many complexities So all a new investor has to do is pay AL for the goodwill and Brassbank for the ground and land..or pay off AL and rent the stadium? Link to comment Share on other sites More sharing options...
Dave_Og Posted May 13, 2022 Share Posted May 13, 2022 11 hours ago, BP1960 said: So all a new investor has to do is pay AL for the goodwill and Brassbank for the ground and land..or pay off AL and rent the stadium? Well yes, in theory. Link to comment Share on other sites More sharing options...
wroteforluck87 Posted May 14, 2022 Share Posted May 14, 2022 On 5/11/2022 at 3:24 PM, yarddog73 said: No Athleticos for the foreseeable I think he mend that the family section should be where all the singing (from young fans) should come from in the absence of the athleticos Link to comment Share on other sites More sharing options...
Lee Sinnott Posted May 16, 2022 Author Share Posted May 16, 2022 Noticed last week that Wrexham don't have all four of their stands open and I'm absolutely certain that Chesterfield haven't always had behind the goal (away end) open whilst they've been in the NL. So maybe it's not as crazy an idea as it seems... Link to comment Share on other sites More sharing options...
daniel Posted May 16, 2022 Share Posted May 16, 2022 4 minutes ago, Lee Sinnott said: Noticed last week that Wrexham don't have all four of their stands open and I'm absolutely certain that Chesterfield haven't always had behind the goal (away end) open whilst they've been in the NL. So maybe it's not as crazy an idea as it seems... Think Wrexham’s terraced stand has been closed for years due to it being condemned. Link to comment Share on other sites More sharing options...
Lee Sinnott Posted May 24, 2022 Author Share Posted May 24, 2022 NS confirmed shut... Link to comment Share on other sites More sharing options...
Careca9 Posted May 24, 2022 Share Posted May 24, 2022 Wonder if some sort of boarding will be put in front to obstruct viewing from the stand. Very very messy this. New owners needed in pre season but that looks unlikely Link to comment Share on other sites More sharing options...
kowenicki Posted May 24, 2022 Share Posted May 24, 2022 Link to comment Share on other sites More sharing options...
kowenicki Posted May 24, 2022 Share Posted May 24, 2022 Seriously…Just boycott the club. All of it. Boycott the OEC. Boycott the gym. Boycott the lot. All involved need to go away. Link to comment Share on other sites More sharing options...
Chaddyexile84 Posted May 24, 2022 Share Posted May 24, 2022 Well if I was getting a ST ticket this year I had decided to go in the NS Thanks for confirming I made the right decision you absolute wankers, There are less weapons in Ukraine than our club Link to comment Share on other sites More sharing options...
AnthonyOAFC Posted May 24, 2022 Share Posted May 24, 2022 Disgusting and upsetting. Not sure why Sheridan still wants to be involved with the club, with these tossers in charge. Link to comment Share on other sites More sharing options...
yarddog73 Posted May 24, 2022 Share Posted May 24, 2022 Not going to affect many but got Shitpeas all over it again.... Ironic that they view the North Stand as unsafe when you actually fall through the floor in the Main Stand in places. Link to comment Share on other sites More sharing options...
basilrobbie Posted May 24, 2022 Share Posted May 24, 2022 If the things you are all saying about the facilities (or lack thereof) in the stands that will be open are true (and I don't doubt that they are), that really is something to kick up a stink about with both the National League and the local council. These statements are really quite disturbing, in their way. It is vaguely reminiscent of Hitler moving around imaginary armies in early 1945 as the Russians** closed in on Berlin. **Matt Deanski doesn't look very Russian though. Link to comment Share on other sites More sharing options...
AnthonyOAFC Posted May 24, 2022 Share Posted May 24, 2022 Link to comment Share on other sites More sharing options...
yarddog73 Posted May 24, 2022 Share Posted May 24, 2022 4 minutes ago, AnthonyOAFC said: Weird is the word, fucking weird statement- whose fucking wrote that... Like something that Kim Jong-un would release, over 70's in rows A to D please........ Link to comment Share on other sites More sharing options...
LaticMark Posted May 24, 2022 Share Posted May 24, 2022 2 minutes ago, yarddog73 said: Weird is the word, fucking weird statement- whose fucking wrote that... . . . I'll give you one guess. Link to comment Share on other sites More sharing options...
Dick_Valentine Posted May 24, 2022 Share Posted May 24, 2022 I think most of us expected the news about the North Stand, but the part regarding the RRE is just bizarre. What a fucking club. Link to comment Share on other sites More sharing options...
Monty Burns Posted May 24, 2022 Share Posted May 24, 2022 7 minutes ago, yarddog73 said: Weird is the word, fucking weird statement- whose fucking wrote that... well, it stinks, so it was probably... Link to comment Share on other sites More sharing options...
Lee Sinnott Posted May 24, 2022 Author Share Posted May 24, 2022 Will just copy and paste my tweet. I actually get closing a stand due to predicted attendances. But to close the NS when there are two other stands practically falling apart shows what a pathetic agenda-driven decision this is. Shameful... Link to comment Share on other sites More sharing options...
nzlatic Posted May 24, 2022 Share Posted May 24, 2022 13 minutes ago, AnthonyOAFC said: So Barry is creating an over 21 section of the ground. What on earth is he planning on selling in there?!? Link to comment Share on other sites More sharing options...
yarddog73 Posted May 24, 2022 Share Posted May 24, 2022 3 minutes ago, nzlatic said: So Barry is creating an over 21 section of the ground. What on earth is he planning on selling in there?!? I'd be more worried why they want to split fans up based on age, weirdos. Link to comment Share on other sites More sharing options...
dannyboy55555 Posted May 24, 2022 Share Posted May 24, 2022 12 minutes ago, nzlatic said: So Barry is creating an over 21 section of the ground. What on earth is he planning on selling in there?!? Assume he's deliberately trying to piss the Athleticos off? What a twat Link to comment Share on other sites More sharing options...
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