Monty Burns Posted March 3, 2011 Share Posted March 3, 2011 players have been paid, now lets win at bournemouth.. Quote Link to comment Share on other sites More sharing options...
razza699 Posted March 3, 2011 Share Posted March 3, 2011 http://www.oldhamathletic.co.uk/page/NewsUpdate/0,,10337~2306682,00.html Quote Link to comment Share on other sites More sharing options...
Monty Burns Posted March 3, 2011 Author Share Posted March 3, 2011 ECHO Quote Link to comment Share on other sites More sharing options...
beag_teeets Posted March 3, 2011 Share Posted March 3, 2011 As someone else said on another thread, how have they been paid? If it is as a result of SC getting a loan, bank, unsecured, cash-4-gold or whatever then it is time to be afraid. Probably well past that actually, get your Rothman's out folks, I think we're going to be seeing some new grounds soon. Quote Link to comment Share on other sites More sharing options...
PlayItLivo Posted March 3, 2011 Share Posted March 3, 2011 As someone else said on another thread, how have they been paid? If it is as a result of SC getting a loan, bank, unsecured, cash-4-gold or whatever then it is time to be afraid. Exactly, we haven't stumbled on a treasure chest have we? Quote Link to comment Share on other sites More sharing options...
razza699 Posted March 3, 2011 Share Posted March 3, 2011 (edited) . Edited March 3, 2011 by razza699 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 3, 2011 Share Posted March 3, 2011 Are they going to get paid next week? Quote Link to comment Share on other sites More sharing options...
Takemeanywhere Posted March 3, 2011 Share Posted March 3, 2011 Are they going to get paid next week? No. They get paid monthly. Quote Link to comment Share on other sites More sharing options...
Channel M Posted March 3, 2011 Share Posted March 3, 2011 I wonder if Evina got his 'playershare' wages whilst the rest of the squad trudged the streets looking on enviously - drooling hungrily at the window of Pizza Express as Cedric tucked into to his Sloppy Giuseppe!! Quote Link to comment Share on other sites More sharing options...
Stitch_KTF Posted March 3, 2011 Share Posted March 3, 2011 Seeing that he is only the chairman and not owner of the club, he cannot use anything within the club or part of the club as collateral. So why blog that it "further endangers Oldham Athletic financially"? Corney himself is hardly going to put us to the sword over this is he? Quote Link to comment Share on other sites More sharing options...
latic12345 Posted March 3, 2011 Share Posted March 3, 2011 Seeing that he is only the chairman and not owner of the club, he cannot use anything within the club or part of the club as collateral. Bullsh*t. People who run businesses they dont own renegotiate overdrafts and loans all the time. It doesn't mean they take them on personally. Quote Link to comment Share on other sites More sharing options...
mattsgrandad Posted March 3, 2011 Share Posted March 3, 2011 Interestingly enough, the article on the latics website only mentions players & management staff - doesn't mention the 'others' (office staff; ground staff etc). I wonder if the players/management representative bodies (PFA and the LMA) have stepped in with some cash (loans of course). If so, only a temporary respite as that cannot (and probably will not) be repeated month after month and eventually would have to be repaid anyway. Quote Link to comment Share on other sites More sharing options...
oafcprozac Posted March 3, 2011 Share Posted March 3, 2011 A personal loan taken out by Corney was used to help "the cashflow issue". Seeing that he is only the chairman and not owner of the club, he cannot use anything within the club or part of the club as collateral. We have remind ourselves that this seasons budget was based upon development funding needed to see out the campaign. That investment or development funding didn't materialise and it remains to be seen how Latics will survive this latest setback http://bit.ly/dOfCsI No bank would lend to a football club as Football Clubs are deemed the riskiest of the risks! So that beggars the question what exactly is he borrowing against and who will ultimately have to repay the loans? Quote Link to comment Share on other sites More sharing options...
Takemeanywhere Posted March 3, 2011 Share Posted March 3, 2011 Interestingly enough, the article on the latics website only mentions players & management staff - doesn't mention the 'others' (office staff; ground staff etc). I wonder if the players/management representative bodies (PFA and the LMA) have stepped in with some cash (loans of course). If so, only a temporary respite as that cannot (and probably will not) be repeated month after month and eventually would have to be repaid anyway. The office staff were paid on time, last Friday. Quote Link to comment Share on other sites More sharing options...
Takemeanywhere Posted March 3, 2011 Share Posted March 3, 2011 Bullsh*t. People who run businesses they dont own renegotiate overdrafts and loans all the time. It doesn't mean they take them on personally. The club doesn't have overdrafts and loans (directors loan excepted). Quote Link to comment Share on other sites More sharing options...
th2003 Posted March 3, 2011 Share Posted March 3, 2011 Magic Beans!! Quote Link to comment Share on other sites More sharing options...
Stitch_KTF Posted March 3, 2011 Share Posted March 3, 2011 Okay then, either or. Give it a name. I'm flexible enough to see that, it's a "renegotiation" to address the "cashflow issue". If you think "renegotiating" an overdraft or loan agreement isn't further endangering Latics, I'd like to hear another viewpoint, seriously. I am flexible to other opinions, unlike some. Eh? You said "a personal loan taken out by Corney was used to help "the cashflow issue". I believed you, largely as I don't imagine banks would be happy to loan Latics money. Aside from future gate receipts (perhaps), have they even got any collateral? So, aside from any terms of Corney's subsequent private loan, I can't fathom how that could endanger Latics. Crucially, I don't think Corney would have the mentality to screw the club over this, otherwise he wouldn't have loaned us any money in the first place. Maybe I'm being presumptuous. Quote Link to comment Share on other sites More sharing options...
latic12345 Posted March 3, 2011 Share Posted March 3, 2011 The club doesn't have overdrafts and loans (directors loan excepted). I don't believe this. It may not have been using its overdraft but it would be daft if it hadnt negotiated it. It's very normal even for the best of companies as, at times, the working capital gets out of sync and needs correcting in the short term. Quote Link to comment Share on other sites More sharing options...
latic12345 Posted March 3, 2011 Share Posted March 3, 2011 (edited) Okay then, either or. Give it a name. I'm flexible enough to see that, it's a "renegotiation" to address the "cashflow issue". If you think "renegotiating" an overdraft or loan agreement isn't further endangering Latics, I'd like to hear another viewpoint, seriously. I am flexible to other opinions, unlike some. These two things are very different. If Corney has taken out a personal loan, it is charged against him, thus there is no additional danger to the club. If the club has taken out a loan (they'd get it, just at a very very very high interest rate), and it is charged against the club, then this may endanger the club. Edited March 3, 2011 by latic12345 Quote Link to comment Share on other sites More sharing options...
Matt Posted March 3, 2011 Share Posted March 3, 2011 So, aside from any terms of Corney's subsequent private loan, I can't fathom how that could endanger Latics. Crucially, I don't think Corney would have the mentality to screw the club over this, otherwise he wouldn't have loaned us any money in the first place. Maybe I'm being presumptuous. It just means OAFC owe more to SC, yes? I don't think he's in it to screw us over - although I don't think he is the best person to plan to take us forward and succeed either. I don't know who the frig is before anybody asks - well nobody who would take this project on springs to mind anyroad. Bankrolling and bankrolling and bankrolling a football club at this level isn't a plan it's financial suicide. Quote Link to comment Share on other sites More sharing options...
Matt Posted March 3, 2011 Share Posted March 3, 2011 These two things are very different. If Corney has taken out a personal loan, it is charged against him, thus there is no additional danger to the club. Really? I doubt that mate, very much. Quote Link to comment Share on other sites More sharing options...
Takemeanywhere Posted March 3, 2011 Share Posted March 3, 2011 (edited) I don't believe this. It may not have been using its overdraft but it would be daft if it hadnt negotiated it. It's very normal even for the best of companies as, at times, the working capital gets out of sync and needs correcting in the short term. Football clubs don't negotiate with banks. The answer is 'no' before the question is even asked. I'm not really bothered whether you believe it, or not. Edited March 3, 2011 by Takemeanywhere Quote Link to comment Share on other sites More sharing options...
latic12345 Posted March 3, 2011 Share Posted March 3, 2011 Really? I doubt that mate, very much. The point I'm trying to make is that if Corney has taken out a loan, in his own name, and decided to put the money into the club, the club has the same risk as before i.e. Corney giving up the ghost and pulling the plug. If the club has taken out a loan, we now have another creditor, one that will be more ruthless and thus there is an additional danger to the club. Quote Link to comment Share on other sites More sharing options...
latic12345 Posted March 3, 2011 Share Posted March 3, 2011 Football clubs don't negotiate with banks. The answer is 'no' before the question is even asked. I'm not really bothered whether you believe it, or not. oh ok, sorry, I'll get back in my box... Quote Link to comment Share on other sites More sharing options...
Matt Posted March 3, 2011 Share Posted March 3, 2011 The point I'm trying to make is that if Corney has taken out a loan, in his own name, and decided to put the money into the club, the club has the same risk as before i.e. Corney giving up the ghost and pulling the plug. If the club has taken out a loan, we now have another creditor, one that will be more ruthless and thus there is an additional danger to the club. Dunno mate, I might be looking at this all very simplistically but I reckon its gone beyond cutting your losses - from what I've heard Blitz is struggling and that blog makes a point about this seasons budget being balanced with development investment that never happened. I figure he and his pals will want some money back at some point one way or another. Quote Link to comment Share on other sites More sharing options...
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