BPAS PODCAST: 20th June '22 Bonus Episode: Shahed Alam Interview

[BPAS]

Shahed Alam was the Finance Director of the Football Club from Aug 2019 until October 2021. Shahed & his brother Tanvir were employed by Abdallah to come into the club and clean up the mess he inherited from the previous owner. In this feature length bonus interview episode we cover the following topics with Shahed;

 

- The state of the accounts

- North stand ownership, the OEC and the court case

- The EFL loan

- Abdallah, Mohamed & Barry

- What the future might hold

 

You can now support the pod by paying a monthly subscription of just £2.99 via this link https://anchor.fm/bp-alert/subscribe. All the regular episodes will remain free to everyone.

 

You can also support us by visiting https://www.oafcpodcast.co.uk, subscribing to our mailing list and purchasing from our online shop.

 

Follow the show on Twitter, Instagram & Facebook @oafcpodcast.

 

Download and listen to the podcast via the FanHub app, where content creators and fans alike are rewarded for getting involved #ctg.

 

You can find out more about Push The Boundary by visiting them at www.pushtheboundary.co.uk and following on Twitter @PTB_OAFC. Find out more about OASF at www.oldhamathleticsupportersfoundation.com where you can also donate to the 1895 Fund.

 

Title music is by Manchester DJ and producer Starion find out more at www.redlaserrecords.bandcamp.com

 

 

[Chaddyexile84]

1 hour ago, BPAS said:

Shahed Alam was the Finance Director of the Football Club from Aug 2019 until October 2021. Shahed & his brother Tanvir were employed by Abdallah to come into the club and clean up the mess he inherited from the previous owner. In this feature length bonus interview episode we cover the following topics with Shahed;

 

- The state of the accounts

- North stand ownership, the OEC and the court case

- The EFL loan

- Abdallah, Mohamed & Barry

- What the future might hold

 

You can now support the pod by paying a monthly subscription of just £2.99 via this link https://anchor.fm/bp-alert/subscribe. All the regular episodes will remain free to everyone.

 

You can also support us by visiting https://www.oafcpodcast.co.uk, subscribing to our mailing list and purchasing from our online shop.

 

Follow the show on Twitter, Instagram & Facebook @oafcpodcast.

 

Download and listen to the podcast via the FanHub app, where content creators and fans alike are rewarded for getting involved #ctg.

 

You can find out more about Push The Boundary by visiting them at www.pushtheboundary.co.uk and following on Twitter @PTB_OAFC. Find out more about OASF at www.oldhamathleticsupportersfoundation.com where you can also donate to the 1895 Fund.

 

Title music is by Manchester DJ and producer Starion find out more at www.redlaserrecords.bandcamp.com

 

 

 

I quite like that guy 

[kowenicki]

Possibly the most insightful one yet. Facts beat opinions and feelings. Very fair appraisal from him I thought. Two sides to every story. 
 

Without this guys input (and to be fair AL’s cash) we would have been sued to oblivion and/or liquidated. 
 

As I’ve said previously, Blitz knew full well what he was doing and how it would likely end. Played everyone…including, Corney, Whitehead, Brooke and AL (that’s not to absolve any of them of any blame). Blitz wants what is best for Blitz. 

“both valuations are total bullshit”, spot on. 
 

“New owner needs to buy the club and sink 3 or 4 million pounds immediately and then invest 300 to 400k per year”.  

Incidentally, remember the much discussed hmrc raid story which majored on the collecting boxes of files in a van… was that actually the forensic accts he mentioned then or was there other proof it was hmrc? 
 

 

 

Edited June 20, 2022 by kowenicki

[Dave_Og]

I have taken  part in many due diligence exercises for much more significant business than OAFC and it is entirely fair to say that the DD can only be as good as the information provided.  However, it is inconceivable that any vaguely competent DD exercise could have failed to identify that the bank accounts hadn't been properly reconciled for years.

[Lee Sinnott]

1 hour ago, Chaddyexile84 said:

 

I quite like that guy 

See - told you he was probably the most competent employee of the Lemsagam reign...

[Chaddyexile84]

8 minutes ago, Lee Sinnott said:

See - told you he was probably the most competent employee of the Lemsagam reign...

 

I knew you'd call me out!  TBF my only previous experience of him was Royton Cricket Club where I thought he came across as a bit of a tool, having listened to that he certainly knows his stuff and seems to be quite likeable and comical too.

 

The state of the clubs finances when he came in and the complete lack of proper record keeping is frankly terrifying

[lookersstandandy]

22 minutes ago, kowenicki said:

 

Incidentally, remember the much discussed hmrc raid story which majored on the collecting boxes of files in a van… was that actually the forensic accts he mentioned then or was there other proof it was hmrc? 

 

We asked him about the HMRC raid and he confirmed the £882k contingent liability in the accounts relates to this. So, it was a real thing.

[lookersstandandy]

28 minutes ago, Dave_Og said:

I have taken  part in many due diligence exercises for much more significant business than OAFC and it is entirely fair to say that the DD can only be as good as the information provided.  However, it is inconceivable that any vaguely competent DD exercise could have failed to identify that the bank accounts hadn't been properly reconciled for years.

Quite. To have not done any research, from open public domain sources, to have worked out a timeline of events from TTA reign up to the point at which Mr. Lemsagam was conducting his due diligence, also seems nothing short of negligent IMO.

[kowenicki]

13 minutes ago, lookersstandandy said:

 

We asked him about the HMRC raid and he confirmed the £882k contingent liability in the accounts relates to this. So, it was a real thing.

So it is still ongoing? Seems crazy with the amount of time that has passed.

[lookersstandandy]

Just now, kowenicki said:

So it is still ongoing? Seems crazy with the amount of time that has passed.

Yes, but it seems as tho there won’t be a case to answer. It related to VAT on the North Stand transfer from OAFC to Brassbank. Don’t forget, another investigation allegedly set off by Barry Owen trying to grass Corney up to HMRC.

[yarddog73]

Anyone still having it that Abdallahs siphoning money out of the football club and lining his pockets? 

[underdog]

I am 30 mins in. Good interview, questions and research too

 

I would like to add that it was OASF (was trust) pressure via a letter of complaint that the 2018 accounts were re-published as they were not compliant with FRS102.

 

From memory, it was never mentioned to Trust that the 1st published accounts (July) were not...erm reflective and would be done again at some point. Or we would not have chase it up as as we did. Eventually, having to write and complain in December. Bearing in mind Trust director Philippa had personally spoken to owner at the end of a meeting in May that Trust do request full accounts due in July that year, as well as Rep to the board asking for them from July onwards . The response back from the club in December was not good and we sought FSA advice at the time.

 

Philippa was determined to uphold Trust shareholder rights and still work with the club even after they questioned her qualifications to do so. To work with Shahed and get the accounts up to an acceptable standard. She got them to include "ongoing concerns" and was advocating profit and losses too. Hence why she eventually, was kidnapped by the FSA to advised the FSA/Fan Led Rewview of standardising football finances and independant regulator

 

Same  letter of complaint confirm Corney was a shareholder and co-incidentally, Companies house was updated to reflect this within 24hrs of Trust asking to see the shareholder register.

 

Then last year, we had some issues too and Shahed left shortly after, well that is what I thought but did he say he was around when there was interest in Harry? was that not January?

 

What a dysfunctional mess we are in

 

 

Edited June 20, 2022 by underdog

[Theoutsider]

2 hours ago, lookersstandandy said:

Yes, but it seems as tho there won’t be a case to answer. It related to VAT on the North Stand transfer from OAFC to Brassbank. Don’t forget, another investigation allegedly set off by Barry Owen trying to grass Corney up to HMRC.

Thanks to you and Matt for all your time and efforts @lookersstandandy  I listen most weeks and enjoyed a slightly different perspective. 
 

I have had some past professional dealings with Shahed and was not that impressed if I am honest, but my opinion has changed a bit after today. 
 

Any reflections from you and Matt? Does it change anything? Made you think differently about the whole situation with the club? 
 

 

 

[kowenicki]

41 minutes ago, yarddog73 said:

Anyone still having it that Abdallahs siphoning money out of the football club and lining his pockets? 

Surely nobody thought that?

[lookersstandandy]

1 hour ago, Theoutsider said:

Any reflections from you and Matt? Does it change anything? Made you think differently about the whole situation with the club? 

Hi, thanks for your kind words & you’re welcome.

 

In answer to your question(s),  No, it doesn’t change my perspective any. I still think Abdallah is hopelessly out of his depth, the £2.5m+ he’s spent has largely been wasted on his own terrible decisions (he’s relegated us twice), his due diligence woefully lacking, the continued employment of his brother who’s so inept and out of his depth, and their reckless & unfathomable association with Barry Owen, a man with who I have so little respect for, all adds up to them being the primary reason why they have spectacularly failed. Simon Blitz is a big problem too. They all need to go. We need to raise money. We need to secure Boundary Park. Only then will we be able to think about better times again.

Edited June 20, 2022 by lookersstandandy

[League one forever]

Very good listen.

 

Thanks Matt and Andy. 
 

It’s very difficult to see a way out that is viable or realistic. 

 

 

[yarddog73]

11 minutes ago, lookersstandandy said:

Hi, thanks for your kind words & you’re welcome.

 

In answer to your question(s),  No, it doesn’t change my perspective any. I still think Abdallah is hopelessly out of his depth, the £2.5m+ he’s spent has largely been wasted on his own terrible decisions (he’s relegated us twice), his due diligence woefully lacking, the continued employment of his brother, who’s so inept and out of his depth, and their reckless & unfathomable association with Barry Owen, a man with who I have so little respect for, all adds up to them being the primary reason why they have spectacularly failed. Simon Blitz is a big problem too. They all need to go. We need to raise money. We need to secure Boundary Park. Only then will we be able to think about better times again.

I agree with this, is there a reason the OEC and those who run it are supported by the protest groups then?, as you say all sides are culpable and for the good of the football club shouldn't the boycotters be interested in starving all those involved with our demise of their monies? I still can't understand how one side is embraced yet the other is jettisoned, no doubt about it Abdallah has contributed to his own downfall but those on the other side come out with little credit and as I predicted much of it comes down to ego.

Edited June 20, 2022 by yarddog73

[lookersstandandy]

9 minutes ago, yarddog73 said:

I agree with this, is there a reason the OEC and those who run it are supported by the protest groups then?, as you say all sides are culpable and for the good of the football club shouldn't the boycotters be interested in starving all those involved with our demise of their monies? I still can't understand how one side is embraced yet the other is jettisoned, no doubt about it Abdallah has contributed to his own downfall but those on the other side come out with little credit and as I predicted much of it comes down to ego.

Hi Simon, I’m afraid I don’t see how you apportion blame on the FLG/OEC chaps for the situation the club is in. They do not own the land, they do not own the club. Either you have a personal dislike for them (which you’re entitled to have - and I don’t share it) or you are missing the point. We had them on recently and we put every question to them. Assuming they answered honestly (I have no reason to believe otherwise) they are trying to be part of the solution, they are not part of the problem. Assuming Shahed answered honestly (I have no reason to believe otherwise) it is Abdallah, Mohamed & Barry, especially Barry, who are behaving pathetically over access to the North Stand and OEC facilities. I have no sympathy for that.

Edited June 20, 2022 by lookersstandandy

[mick26]

20 minutes ago, lookersstandandy said:

Hi, thanks for your kind words & you’re welcome.

 

In answer to your question(s),  No, it doesn’t change my perspective any. I still think Abdallah is hopelessly out of his depth, the £2.5m+ he’s spent has largely been wasted on his own terrible decisions (he’s relegated us twice), his due diligence woefully lacking, the continued employment of his brother, who’s so inept and out of his depth, and their reckless & unfathomable association with Barry Owen, a man with who I have so little respect for, all adds up to them being the primary reason why they have spectacularly failed. Simon Blitz is a big problem too. They all need to go. We need to raise money. We need to secure Boundary Park. Only then will we be able to think about better times again.

Not caught all of it yet but after admitting AL would be lucky to get £1 for the club did he shed any light on why he was looking for £4M to £6M to sell?

[lookersstandandy]

1 minute ago, mick26 said:

Not caught all of it yet but after admitting AL would be lucky to get £1 for the club did he shed any light on why he was looking for £4M to £6M to sell?

In effect, out of spite…. But he knows it’s unachievable.

[yarddog73]

4 minutes ago, lookersstandandy said:

Hi Simon, I’m afraid I don’t see how you apportion blame on the FLG/OEC chaps for the situation the club is in. They do not own the land, they do not own the club. Either you have a personal dislike for them (which you’re entitled to have - and I don’t share it) or you are missing the point. We had them on recently and we put every question to them. Assuming they answered honestly (I have no reason to believe otherwise) they are trying to be part of the solution, they are not part of the problem. Assuming Shahed answered honestly (I have no reason to believe otherwise) it is Abdallah, Mohamed & Barry, especially Barry, who are behaving pathetically over access to the North Stand and OEC facilities. I have no sympathy for that.

The problem I have is with Blitz and they are in my eyes doing his dirty work which isn't the immediate problem I know but it is creating a situation where nobody will come out of it with any credit, agree with regards to Barry though he needs to go immediately as his presence just pours petrol on the flames, I personally favour someone coming in and taking over the whole lot, highly unlikely I know.

[yarddog73]

2 minutes ago, lookersstandandy said:

In effect, out of spite…. But he knows it’s unachievable.

Probably why he has allowed shitpeas back on the scene as well.

[lookersstandandy]

6 minutes ago, yarddog73 said:

The problem I have is with Blitz and they are in my eyes doing his dirty work which isn't the immediate problem I know but it is creating a situation where nobody will come out of it with any credit, agree with regards to Barry though he needs to go immediately as his presence just pours petrol on the flames, I personally favour someone coming in and taking over the whole lot, highly unlikely I know.

I think that Characterisation is unfair/wrong. The FLG/OEC are not doing Blitz’s dirty work…. They have been/are trying to take Blitz out of the equation. They want what’s best for OAFC, they are fans too.

[Theoutsider]

14 minutes ago, lookersstandandy said:

Hi Simon, I’m afraid I don’t see how you apportion blame on the FLG/OEC chaps for the situation the club is in. They do not own the land, they do not own the club. Either you have a personal dislike for them (which you’re entitled to have - and I don’t share it) or you are missing the point. We had them on recently and we put every question to them. Assuming they answered honestly (I have no reason to believe otherwise) they are trying to be part of the solution, they are not part of the problem. Assuming Shahed answered honestly (I have no reason to believe otherwise) it is Abdallah, Mohamed & Barry, especially Barry, who are behaving pathetically over access to the North Stand and OEC facilities. I have no sympathy for that.

Thanks for the reply earlier
 

The whole thing is a mess and whilst if Abdallah is having health issues (reading in between the lines) I obviously have sympathy, there is a lot  of things that are very much of his making. 
 

If he had been honest from the start, open with people then I am sure people would’ve continued to support whilst he tried to unravel the North Stand fiasco. Instead he has annoyed the majority of the fan base and created countless other issues. 
 

Agree though, they FLG/OEC haven’t caused any of this and are just caught in the cross fire; it’s business, stop being petty if it relates purely to personality and just do what is right. 

 

[yarddog73]

3 minutes ago, lookersstandandy said:

I think that Characterisation is unfair/wrong. The FLG/OEC are not doing Blitz’s dirty work…. They have been/are trying to take Blitz out of the equation. They want what’s best for OAFC, they are fans too.

We all are Andy, even Barry Owen claims to be a fan....