How is the club being funded?

[oafc0000]

I might of missed something here but given we no longer have someone writing cheques on a weekly basis and given the club takings are pretty low anyone got any idea how we are funding ourselves at the moment ?

 

Are we being run to match what we bring in (as it should be) ? Was we given a golden goodbye to cover this season ? or are we now operating a overdraft / loan facility ?

 

I didn't keep up with everything during the summer so sorry if this has already been covered...

[lancy lad]

I might of missed something here but given we no longer have someone writing cheques on a weekly basis and given the club takings are pretty low anyone got any idea how we are funding ourselves at the moment ?

 

Are we being run to match what we bring in (as it should be) ? Was we given a golden goodbye to cover this season ? or are we now operating a overdraft / loan facility ?

 

I didn't keep up with everything during the summer so sorry if this has already been covered...

I thought the same myself. When Blitz announced he was finishing, all I know is they said the budget was safe for this season so I dont know if they have just put enough dosh in to make us viable until the end of the season!

[Macca]

I thought the same myself. When Blitz announced he was finishing, all I know is they said the budget was safe for this season so I dont know if they have just put enough dosh in to make us viable until the end of the season!

 

I guess Corney is funding the club at present. Blitz wrote a cheque to keep us going over the summer and the budget reduced with it. There should be less losses coming from the club making it more manageable. With the new stadium and looking for investment it must be in their interest to keep the club going.

[RobOAFC]

Budget was set for without Blitz & Gazal's funding. So for this season we are safe in financial terms. After that though...

[lancy lad]

Budget was set for without Blitz & Gazal's funding. So for this season we are safe in financial terms. After that though...

We need plenty of the stayaways back through the turnstiles (if they could have seen us yesterday, that would bring a fair few back) and I am hoping and praying we get to the 3rd round of the FA cup and get ManUre away!

[Lags]

I still cannot believe some are still thinking it's Corney on his jack jones. Sure on paper it is but the others will be in the loop, come on guys and gals. On paper they are no longer liable for any mishap that might arise at Oldham Athletic (2004) Ltd.

[Lags]

We need plenty of the stayaways back through the turnstiles (if they could have seen us yesterday, that would bring a fair few back) and I am hoping and praying we get to the 3rd round of the FA cup and get ManUre away!

 

Agree with your way of thinking brother but please not ManUre. Arsenal yes and revenue will still be top dollar without the scummers giving it large to us on our drubbing by their third string youth players.

[oafc0000]

So, nobody actually knows for real what the heck is going on ?

 

Setting a budget is one thing... I could set a budget of £500 million... Its were the £500 million is coming from that I am questioning... and of course the long term impact of said budget...

 

I thought Corney wasn't a money man ?

Edited August 8, 2010 by oafc0000

[lancy lad]

Agree with your way of thinking brother but please not ManUre. Arsenal yes and revenue will still be top dollar without the scummers giving it large to us on our drubbing by their third string youth players.

You never know Lags, I think we all expected a 5 niller when they played dirty Leeds last year! Actually going to The Emirates would be pretty nifty!

[lancy lad]

So, nobody actually knows for real what the heck is going on ?

 

Setting a budget is one thing... I could set a budget of £500 million... Its were the £500 million is coming from that I am questioning... and of course the long term impact of said budget...

 

I thought Corney wasn't a money man ?

Hasn't been made public!

[creepy]

even if the stayaways come back it still wont be enough too put in the bank and support us next season

 

we need new investment and pretty quick

[jimsleftfoot]

So, nobody actually knows for real what the heck is going on ?

 

Setting a budget is one thing... I could set a budget of £500 million... Its were the £500 million is coming from that I am questioning... and of course the long term impact of said budget...

 

I thought Corney wasn't a money man ?

 

The same people as last year are covering the costs this season. Its next season which is the problem.

[RobOAFC]

So, nobody actually knows for real what the heck is going on ?

 

Setting a budget is one thing... I could set a budget of £500 million... Its were the £500 million is coming from that I am questioning... and of course the long term impact of said budget...

 

I thought Corney wasn't a money man ?

 

Budget was set by expected ST sales (guessing they expected about 2,000 - 2,500 to be sold) and partly funded by Blitz & Gazals most recent and last cheque in the summer which they then decided to leave after.

And when Blitz & Gazal announced they was leaving several people on here said that Corney is alot richer than what we all thought.

[oafc0000]

So we are presuming we should still be debt free (other than the money owed to TTA) come the end of the season... aka costs being covered as usal... but from that point onwards we are on are own ?

Edited August 8, 2010 by oafc0000

[opinions4u]

The way I interpreted things was that the budget for this season is a "break even" financial plan and that was the intention going forwards. Hence you look at the transfer list and see players who are probably higher paid then may others. It will also explain the sale of Abbott.

 

No more sugar Daddy throwing money at it.

 

Other than the obvious on pitch concern that brings, the big worry is the £3m (insert accurate figure if needed) owed to Blitz. If he calls it in, administration would be inevitable. I'm assuming he won't call it in, because he'll get more money if he receives high proportions of transfer fees (e.g. Eaves, the fabled Micah Richards money if it ever materialises etc).

 

If it is a break even plan, based on 2,000 season tickets, the club could potentially turn an operating profit (before transfers) if the team plays well and fans return in numbers paying £20 a time. But there's no chance of ever clearing the debt to Blitz without transfer income or placing the club in administration or, possibly, making him a reduced payment in full and final settlement.

 

Everything in this post is speculation on my part. Nothing more.

Edited August 8, 2010 by opinions4u

[leeslover]

I dont for a second think we won't be operating a loss this season. Let's all hope things pick up and the fans get back, and we may make a pretty penny from the sale of a youth who most of us didn't think was claearly ahead of Brooke a few weeks ago, but I'm not seeing a squad with a massively different wage bill. Maybe the sales and loss of Abbott's salary will make it about even.

[opinions4u]

Maybe the sales and loss of Abbott's salary will make it about even.

You'll probably have as good a view of it as anyone. I think the likes of Purdie and Worthington will need to be shifted out to get the debits column in line with the credits.

Edited August 8, 2010 by opinions4u

[RobOAFC]

When we had 'one of the top 10 budgets in the league' the board said that we needed around 6,500 - 7,500 fans at each home game to break even/small profit (correct me if am wrong)

With the bill being reduced each year, i am presuming that now, around 4,000 - 5,500 fans at each home game will break even. Along with a good cup run in league cup/ fa cup (maybe both?) and possibly reaching the latter stages of JPT will possibly make us a small profit.

 

 

[leeslover]

You'll probably have as good a view of it as most. I think the likes of Purdie and Worthington will need to be shifted out to get the debits column in line with the credits.

Very broad terms, and I will accept L & E spanking my arse if I am wrong, but for an average year at recent rates we are about £400k behind the times. Worse with poor ST sales vs last year and associated loss of matchday revenue. So might be about an Abbott + and Eaves sale with a lower salary base I guess. I do find it strange how, living within your means," is good, but, "investment," or, "ambition," is better.

[opinions4u]

Very broad terms, and I will accept L & E spanking my arse if I am wrong, but for an average year at recent rates we are about £400k behind the times. Worse with poor ST sales vs last year and associated loss of matchday revenue. So might be about an Abbott + and Eaves sale with a lower salary base I guess. I do find it strange how, living within your means," is good, but, "investment," or, "ambition," is better.

I prefer ambition based on good football management and motivation, rather than building up debts that will eventually blow up in your face (Darlington).

 

I fear living within means and not competing and, ultimately, following the trajectory Col Jones highlighted.

[oafc0000]

I prefer ambition based on good football management and motivation, rather than building up debts that will eventually blow up in your face (Darlington).

 

I fear living within means and not competing and, ultimately, following the trajectory Col Jones highlighted.

 

You either live within your means or you run up debts...

[futchers briefs]

You either live within your means or you run up debts...

There ain't many football clubs living within their means!! - and anybody subscribing to sky and supporting them in charging £650/month to pubs etc and contributing to over-inflated/undeserved wages of premiergreed footballers are all contributing to the downfall of lower league football.

[opinions4u]

You either live within your means or you run up debts...

But you can live within your means, manage your team well and succeed.

 

Not easy, but possible.

 

With respect you are possibly getting confused re Admin or I am. Why would Blitz the major creditor put the club into admin himself and basically say he was going to take pennies in the pound whilst any chance of recovering more exists.

He wouldn't. Unless he needs money instantly. Those who run the club could decide to screw him over though and take the business in to administration themselves, lining up a new owner along the way.

 

As long as we are sensible and pay the bills like PAYE/ VAT (never our money in view of HMRC). we have a chance. Whilst fully accepting Eaves is a goner sadly it reinforces the image that latics are a little selling club

Even as a Premiership side, Latics were a selling club.

 

With hindsight flattening the stand was crazy....?? before permission was granted on new site.

On the balance sheet it shows as money saved. What we will never know is how many fans that decision cost, and how much income was lost as a result. We have certainly never filled the ground with the reduced capacity though.

 

The hardcore fans who might be tempted back by some decent football are different to the indifferent stay aways and Sky punters who do not have an affinity with a local club.

 

It's always going to be tough running a small town football club with a modest fan base. Despite the "pinch me" years, Latics have always been more of a lower league side. But we can all retain the dream!

Edited August 9, 2010 by opinions4u

[Erratic_Latic]

The way I interpreted things was that the budget for this season is a "break even" financial plan and that was the intention going forwards. Hence you look at the transfer list and see players who are probably higher paid then may others. It will also explain the sale of Abbott.

 

No more sugar Daddy throwing money at it.

 

Other than the obvious on pitch concern that brings, the big worry is the £3m (insert accurate figure if needed) owed to Blitz. If he calls it in, administration would be inevitable. I'm assuming he won't call it in, because he'll get more money if he receives high proportions of transfer fees (e.g. Eaves, the fabled Micah Richards money if it ever materialises etc).

 

If it is a break even plan, based on 2,000 season tickets, the club could potentially turn an operating profit (before transfers) if the team plays well and fans return in numbers paying £20 a time. But there's no chance of ever clearing the debt to Blitz without transfer income or placing the club in administration or, possibly, making him a reduced payment in full and final settlement.

 

Everything in this post is speculation on my part. Nothing more.

 

Harry Redknapp on Sky Sports last night was saying that Micah Richards would be a player he'd be interested in should he become available. Hope the City owners were listening.... power of suggestion and all that...

[al_bro]

I prefer ambition based on good football management and motivation, rather than building up debts that will eventually blow up in your face (Darlington).

 

I fear living within means and not competing and, ultimately, following the trajectory Col Jones highlighted.

The big problem is that moving to Failsworth is not ambition, it's condemning us to lower league football for ever. A 12000 seat stadium cannot sustain a Championship team.