General Accounts are up

[MarkG]

That took a while to get registered! All the same, very satisfactory to know that Ol' Slippery has no hold on the club any longer.

He still owns just under 10% of the shares (Ensco never actually sold their shares in the club, the club issued more shares to Tiger's holding company to make them a 90% shareholder). Presumably in case there is ever a big money takeover he gets a pay-out.

 

[Sarge]

OM today , OUFC 'officially' no longer 'owe' Ol' slippery any debt ...

Oxford United debt to former owner Darryl Eales is officially cleared

OXFORD United have repaid the money owed to Darryl Eales as part of the 2018 takeover.

www.oxfordmail.co.uk

 

[Manorlounger]

He still owns just under 10% of the shares (Ensco never actually sold their shares in the club, the club issued more shares to Tiger's holding company to make them a 90% shareholder). Presumably in case there is ever a big money takeover he gets a pay-out.

Forgot about those! Given that the "Club" has virtually no assets, I should imagine that these will be bought back at some point. Eales will no longer need any leverage or access to the club as was the case when the charge was still valid. The ins and outs of the financial world are a wonderful thing to behold! (Incomprehensible to most, of course, and include me in that)

 

[MarkG]

Forgot about those! Given that the "Club" has virtually no assets, I should imagine that these will be bought back at some point. Eales will no longer need any leverage or access to the club as was the case when the charge was still valid. The ins and outs of the financial world are a wonderful thing to behold! (Incomprehensible to most, of course, and include me in that)

There's presumably a shareholders' agreement setting out if and when those shares get bought out. In the past, WPL (Ian Lenagan) also kept a minority shareholding until Ensco took over the shares completely.

I'd guess something along the lines of
If the club gets sold then all shares are valued equally.
If the club gets promoted to the Premier League, then the club is valued independently and the shares get bought out based on % holding.

I think one of the rules for keeping a <10% holding in another club is that it is as an investment only, and you have no say in running the club or anything else.

There are also a few hundred other shareholders who each own a handful of shares - there doesn't seem to be any reason these haven't been bought back for a penny other than the admin involved and also that it keeps those fans happy with their OUFC share certificate.