Callum O'Dowda

Keepitreal said:
I believe the sell on is for between 25-30%. I have heard from a few ITK people that Eales gets to pocket most of that as part of his sale to Tiger - a shame if true bearing in mind COD came through our youth ranks, we invested in his development and our current set up could really do with a few million to spend. Not that I think it will happen, but the worse case scenario is COD runs his contract down completely, Eales gets nothing and the lad moves on a free.
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The sooner DE is paid the better.
Eales is owed a certain amount of money. Once that is paid OUFC get future payments.
So it is good if this happens for the club.
 
Sheik djibouti said:
If it is true about Eales trousering the SOC on O'Dowda, and IF you want to blame anyone for OUFC not benefitting from it, then look no further than Tiger.

It was he after all who did the deal with Eales when "buying" the club....because he didn't have the bunce up front and couldn't get the deal done any other way.

It's a bit like blaming Kassam entirely for the ridiculous Stadium deal the Merry agreed to....again when he and backers didn't have the money to buy the stadium.
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And Kassaam had the best of interests for OUFC when he came up with the deal and would have suggested that Merry would be making a mistake not to separate the club from the stadium?
 
100% of the money, possibly £2m comes to the club. Great for turnover!
This income must be used to reduce the club's debt - the money owed to DE. Once the debt is cleared, the club will continue to receive 100% of the income from transfers, I suspect with it being used to pay other debts.
 
I’m curious as to how much we still owe to Daryl Eales.

Since Eales departed OUFC, the club has received transfer income from Johnson, Lundstram, Rothwell, Ledson,
Hemmings and add ons from the Kemar Roofe deal to Leeds in July 2016.

The debenture in favour of DE was around £4.2m.

If O’Dowda moves from Bristol C for the kind of money reported
you would like to think the charge in favour of Eales would be largely repaid?

www.oxfordmail.co.uk

Records show structure of Oxford United takeover deal

DETAILS have emerged about the structure of the deal which saw Sumrith Thanakarnjanasuth buy the controlling stake in Oxford United.
www.oxfordmail.co.uk www.oxfordmail.co.uk
 
WestOxon U’s said:
I’m curious as to how much we still owe to Daryl Eales.

Since Eales departed OUFC, the club has received transfer income from Johnson, Lundstram, Rothwell, Ledson,
Hemmings and add ons from the Kemar Roofe deal to Leeds in July 2016.

The debenture in favour of DE was around £4.2m.

If O’Dowda moves from Bristol C for the kind of money reported
you would like to think the charge in favour of Eales would be largely repaid?

www.oxfordmail.co.uk

Records show structure of Oxford United takeover deal

DETAILS have emerged about the structure of the deal which saw Sumrith Thanakarnjanasuth buy the controlling stake in Oxford United.
www.oxfordmail.co.uk www.oxfordmail.co.uk
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Looking at the OUFC 2018 accounts note 8, amounts owed to Ensco in relation to the loan notes (amortised) were £3,494,928. Note 7 has trade debtors of only £2,240,877. Assuming that trade debtors are mostly known transfer fee instalments receivable because you would account for the sale in full even if payments are in stages, that leaves a shortfall of £1.25 million. The players listed above were all sold prior to 30 June 2018, leaving I think only Canice Carroll and Tsun Dai as sales since then.

Depending on how you read it, this balance was a top up for the value of the rest of the squad (Ledson, Nelson etc) who hadn't been sold at Feb 2018 and potential sell-ons, or was part of the purchase price that was agreed to be deferred.

Anyway, the loan notes are due to be paid off in full by some point in 2019, whether by player transfers, or some other means, and the fact the charge is still in place at Companies House suggest it hasn't been cleared yet.
 
It amazes me how people take one piece of information and run with it regardless of facts! The deal struck by DE when selling the club to Tiger was for an initial payment up front and further agreed payments at set intervals. These payments were linked to expected funds from previously agreed sales and timed to coincide with expected payments, but that is where the link to player sales stops.

It was never agreed that DE would get all future payments, or have any control other existing assets. To put it in simple terms, if you bought a car from your mate for £3000 and agreed to pay £2000 up front and £500 a month for the next two months on pay day, you would still only pay up to the £3000 in total. You wouldn't expect to pay every month for ever, or pay extra because you got a bonus in your next months pay.

IF we got a 25-30% sell on with O'Dowda and he went for £8 million, we would pick up around £2-2.7m. Tiger could use that however he wishes. If there is an outstanding debt owed to DE then he can pay that off. Or he can invest in the first team squad. Or put money towards the cost of running the club day to day. Or put in hot showers in the training ground. Or replace the repossessed lawnmowers. Or take Mrs Tiger shopping in Bicester Village!!!
 
Isn't it all debt whether in Solihull or Singapore. The difference being DE has to be paid as per sale agreement and Singapore debt can be added to or paid down by Tiger and the gang. Or am I complete wrong?
 
Scotchegg said:
It amazes me how people take one piece of information and run with it regardless of facts! The deal struck by DE when selling the club to Tiger was for an initial payment up front and further agreed payments at set intervals. These payments were linked to expected funds from previously agreed sales and timed to coincide with expected payments, but that is where the link to player sales stops.

It was never agreed that DE would get all future payments, or have any control other existing assets. To put it in simple terms, if you bought a car from your mate for £3000 and agreed to pay £2000 up front and £500 a month for the next two months on pay day, you would still only pay up to the £3000 in total. You wouldn't expect to pay every month for ever, or pay extra because you got a bonus in your next months pay.

IF we got a 25-30% sell on with O'Dowda and he went for £8 million, we would pick up around £2-2.7m. Tiger could use that however he wishes. If there is an outstanding debt owed to DE then he can pay that off. Or he can invest in the first team squad. Or put money towards the cost of running the club day to day. Or put in hot showers in the training ground. Or replace the repossessed lawnmowers. Or take Mrs Tiger shopping in Bicester Village!!!
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But the terms of the loan notes are that all payments in respect of the transfer of the registration of players get paid into the charged bank account until the secured debt is paid off. If you read my post #30 above, I don't think we will have yet received enough cash from transfer fees to pay off the debt, so a sell-on (if there is one at all) does go into the account controlled by Ensco.

To put it in simple terms, if you bought a car from your mate for £4000 and agreed to pay £2000 up front and £500 a month for the next two months on pay day, you would still owe £1,000.
 
Two good posts Mark G - helps us to understand roughly what could be owed to DE
and good rationale for concluding it could be circa £1.25m

I’d forgotten the income we received for Carroll and Dai so in my mind around £1m could still be the balance owed.
Important to state that if O’Dowda is sold we would receive the “sell on “ over the course of his contract - we would not get the
£2m-£2.7m up front.
 
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WestOxon U’s said:
Two good posts Mark G - helps us to understand roughly what could be owed to DE
and good rationale for concluding it could be circa £1.25m

I’d forgotten the income we received for Carroll and Dai so in my mind around £1m could still be the balance owed.
Important to state that if O’Dowda is sold we would receive the “sell on “ over the course of his contract - we would not get the
£2m-£2.7m up front.
Click to expand...
There is also "other creditors" due to Ensco in relation to the ported WPL debt - shown as due within one year in the OUFC accounts. But the Ensco 2018 accounts only show total debtors of 4,186,521.

Also I don't know football contracts, but I'd have thought if BCFC sell O'Dowda and we have a sell-on, it would be due at once as BCFC would have at least some of the cash from the sale. Why should we get paid later just because BCFC get paid in instalments?
 
Rothwell and Ledson both left for fees. Is it possible that Sheffield United's promotion got us some money from the Lunny transfer? Plus any fees paid in stages from the likes of Leeds, etc.
 
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