OAFCM35 Posted September 10, 2015 Share Posted September 10, 2015 Monty Burns touched on a very good point before the admins locked the "latest conspiracy" thread For those that missed it :censored:in wow But now we are on the subject, Latics owe TTA about £7mill, even tho theyve made £millions building houses and hospitals, that isnt balanced off against the 'loans'. So you gota pay that £7m for the club, but you don't get all the land they bought cos it been built on. Bargain. Discuss Quote Link to comment Share on other sites More sharing options...
ghostofcecere Posted September 10, 2015 Share Posted September 10, 2015 We owe Blitz and Gazal £6M, a debt which they've said they would only ever call in if we got back to the Premier League. Quote Link to comment Share on other sites More sharing options...
the_mighty_bosh Posted September 10, 2015 Share Posted September 10, 2015 Why was the other one locked? Quote Link to comment Share on other sites More sharing options...
MAC0AFC Posted September 10, 2015 Share Posted September 10, 2015 (edited) Why was the other one locked? Not sure, but whys that Postman :censored: fella got two profiles? and why on earth would you get a buzz from anything like that? what a strange fella. Edited September 10, 2015 by MAC0AFC Quote Link to comment Share on other sites More sharing options...
oafc1955 Posted September 10, 2015 Share Posted September 10, 2015 So 8city2 is Postman Matt? Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted September 10, 2015 Share Posted September 10, 2015 Unless someone comes out and says they have bid for the club and have been turned down/or has said the deal is crap, how would we know what the deal would be? Quote Link to comment Share on other sites More sharing options...
Clifford Posted September 10, 2015 Share Posted September 10, 2015 We owe Blitz and Gazal £6M, a debt which they've said they would only ever call in if we got back to the Premier League. If they have made half / near / all that from selling houses or land on BP should we really still owe the full amount? Even if it meant the club missing out on a buyer? Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted September 10, 2015 Share Posted September 10, 2015 We owe Blitz and Gazal £6M, a debt which they've said they would only ever call in if we got back to the Premier League. Now I'm distracted by thoughts of just how unsustainable promotion to the Premier League would be. Let's hope it never comes to pass. Quote Link to comment Share on other sites More sharing options...
oafcmetty Posted September 10, 2015 Share Posted September 10, 2015 "Businessmen" owning a company lose a fortune. Want it all to be refunded else they'll run it into the ground and lose it all. Only in football. Quote Link to comment Share on other sites More sharing options...
ghostofcecere Posted September 10, 2015 Share Posted September 10, 2015 If they have made half / near / all that from selling houses or land on BP should we really still owe the full amount? Even if it meant the club missing out on a buyer?"We" as in Latics don't own any of the land, it belongs to their company Brass Bank. So they have only sold what they already owned, they haven't sold anything belonging to OAFC 2004 Ltd. If a new buyer came along, it would be up to them to decide whether or not to write that debt off if was was potentially scuppering any deal. My feeling is that they see their best chance of recouping that £6M back comes through the land they have sold, the rest of the houses being built, and future revenues generated by the Oldham Event Centre. Quote Link to comment Share on other sites More sharing options...
Blue_Guru Posted September 10, 2015 Share Posted September 10, 2015 "We" as in Latics don't own any of the land, it belongs to their company Brass Bank. So they have only sold what they already owned, they haven't sold anything belonging to OAFC 2004 Ltd. If a new buyer came along, it would be up to them to decide whether or not to write that debt off if was was potentially scuppering any deal. My feeling is that they see their best chance of recouping that £6M back comes through the land they have sold, the rest of the houses being built, and future revenues generated by the Oldham Event Centre. If that's the case they are sweating our assets whilst holding the debt? Who would ever want to invest in that business??? They have just got to hope some nutter with too much money wants to own a football club with a bit of history...loads of those lying around Quote Link to comment Share on other sites More sharing options...
palmer1 Posted September 10, 2015 Share Posted September 10, 2015 We owe Blitz and Gazal £6M, a debt which they've said they would only ever call in if we got back to the Premier League. That only applies to the current chairman wouldnt it? If we sell or are trying to sell then it becomes an issue to whoever wants to buy? Quote Link to comment Share on other sites More sharing options...
Monty Burns Posted September 11, 2015 Share Posted September 11, 2015 Unless someone comes out and says they have bid for the club and have been turned down/or has said the deal is crap, how would we know what the deal would be? Somebody already did. Some bald guy who was on the board, it was around eight years ago. Quote Link to comment Share on other sites More sharing options...
Monty Burns Posted September 11, 2015 Share Posted September 11, 2015 We owe Blitz and Gazal £6M, a debt which they've said they would only ever call in if we got back to the Premier League. That is whilst they still own the club. If you wish to buy the club from them you must pay them this money, but you do not get the assets they got for it. Bargain. Quote Link to comment Share on other sites More sharing options...
OAFCM35 Posted September 11, 2015 Author Share Posted September 11, 2015 (edited) That only applies to the current chairman wouldnt it? If we sell or are trying to sell then it becomes an issue to whoever wants to buy? This is the point Monty was getting at, I'd imagine B&G would be happy to keep the land for developement if someone wanted to buy the club and build a new stadium but there was a bloke who wanted to do just that the other year and Corney told him he had to stay at BP of the deal was to go through?! So from that you would imagine to get the club you must have to buy OAFC from SC and then either buy the land or lease it from B&G Edited September 11, 2015 by OAFCM35 Quote Link to comment Share on other sites More sharing options...
GlossopLatic Posted September 11, 2015 Share Posted September 11, 2015 This is the point Monty was getting at, I'd imagine B&G would be happy to keep the land for developement if someone wanted to buy the club and build a new stadium but there was a bloke who wanted to do just that the other year and Corney told him he had to stay at BP of the deal was to go through?! So from that you would imagine to get the club you must have to buy OAFC from SC and then either buy the land or lease it from B&G The clubs debts stand at £8.8million at June 2014 the end of the clubs last financial year. With another 12 months having gone on that could arguably would have gone over £9million. We already have a lease agreement in place if you buy the club you effectively own the stadium and the risks and rewards for it including any extra profits from the new stand, you won't have to further buy the lease. Most leases have a repurchase option at the end of their agreement. So we will have the option to buy the land. Quote Link to comment Share on other sites More sharing options...
jimsleftfoot Posted September 11, 2015 Share Posted September 11, 2015 If that's the case they are sweating our assets whilst holding the debt? Who would ever want to invest in that business??? They have just got to hope some nutter with too much money wants to own a football club with a bit of history...loads of those lying around One that would try and negotiate for the assets and the club. Whatever is now doesn't actually matter, it would be the negotiations going forward. Quote Link to comment Share on other sites More sharing options...
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