HMRC?

I appreciate that there is ‘more to come’ but to hear the same old bullshit trotted out about how it was a mistake and processes are being put in place blah blah blah is shocking. Sorry mate, what process? Not paying your tax liabilities and then even after being issued with a court hearing and winding up petition just not paying it again, and again, and again, and then magically settling it the day after the fan base erupts and the supporters trust finally loses its rag and goes for you? Ah, yes, easy mistake! Could happen to the best of us!

What few words have been passed on here are already total garbage. Can’t wait to see what a full statement comes out with.
 
"Improving Cash-Flow"? It's official then: Tiger is a fantasist, a charlatan and a masquerader without sufficient cash to properly fund the operations of our football club.

Unlike previous owners who allowed the club to build up considerable 'soft' debt, the Bangkok Walter Mitty is running up external liabilities which threaten to bring the whole house of cards down.

We need to get this shyster out of the club before it's too late!
 
Oufcrealist said:
Back at the end of September, Kassam said he was owed 600k in unpaid service charges. Thats why he was playing hard ball!! Has this been paid? Will he keep the winding up petition going on Dec 19th?
Click to expand...
I heard he was fully paid a couple of weeks back .
 
Yep, it seems to confirm that cash flow is the problem. It’ll be interesting to see if Tiger does say anything substantial, for once, in the next couple of days. I’m not holding out much hope that he’ll even keep his promise on that now.

From that brief statement, I think it’s time for the fan base to start getting really worried unfortunately.

Oh, and is anybody still looking forward to January..?
 
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January will be interesting as whilst I’m told the budget has been increased from last season, it has been increased across the club to allow for substantial investment in the youth set up u23’s etc.

If that’s the case, and I’ve no reason to doubt it, I personally think that’s the correct approach form those concerned as that’s not only protecting our interests its potential a very lucrative market for us to be involved in.
 
A couple of things here....
1) Good to hear the tax bill has been paid although I'm not sure why it had to get to this stage.
2) I think we now need to wait and hear his reply to all the questions OxVox put to him. It will be pretty easy to see whether it is just him paying us lip service or words of intent.
3) Short term cash flow is and always has been an issue since Tiger arrived. The long term project, such as investing in the training ground, increasing the clubs "brand" and investing in the academy/U23 side is very good for the football club. Tiger however needs to address how he is going to sort out the short term problem of cash flow. Will this involve the new board members and if not then how will it get better?
 
As @DenisSmithsWig has said, the backing given to the youth set up and under 23's has been excellent but this doesn't come cheap. This would in itself suggest that Tiger and co. have money and are looking a few years ahead to a point where these players become regulars or move up the pyramid for a large profit.

Added to this is the fact that the tax bill appears to have been paid in full and, as yet, no other debts are being called in, suggests that money is available.

The problem seems to be in the way money is being freed up and that shows business naivity at best or something more fundamentally wrong with the structure of the club.

Potentially this is something that can be easily fixed, but we all need something far more substantial from Tiger if we are to trust his ability to take us forward. Hopefully we will see this in the coming days and OxVox can continue to hold him to account.
 
Lets hope other Tigers message reassures the other companies owed money, the winding order is not over just because Tiger paid his bit to the revenue, other creditors might want their money as well.
 
LondonRoader said:
Lets hope other Tigers message reassures the other companies owed money, the winding order is not over just because Tiger paid his bit to the revenue, other creditors might want their money as well.
Click to expand...

Do we know what other companies are owed money, and to what extent?
 
Scotchegg said:
Do we know what other companies are owed money, and to what extent?
Click to expand...

Like most real info about OUFC under tigers ownership thats thin on the ground....we'll find out Dec 19th I suppose?
 
Blox21 said:
I heard he was fully paid a couple of weeks back .
Click to expand...

If this is true, this may be significant. If the club had to fork out an extra 600k they hadn't planned assuming they would win the arbitration with Kassam.( yes yes poor planning) this clearly would have a big impact on cash flow.
In many ways, this is a slightly better scenario.
..it would mean Kassam is paid off and there is a little more justification in cash flow problems with such a big chunk coming out.
 
radicalox said:
If this is true, this may be significant. If the club had to fork out an extra 600k they hadn't planned assuming they would win the arbitration with Kassam.( yes yes poor planning) this clearly would have a big impact on cash flow.
In many ways, this is a slightly better scenario.
..it would mean Kassam is paid off and there is a little more justification in cash flow problems with such a big chunk coming out.
Click to expand...

It's a dangerous game though when you are running a business which, if you have any unplanned cost come out of the blue throws your company in to financial trouble. There surely should be a cash reserve for unexpected costs.
 
DenisSmithsWig said:
It's a dangerous game though when you are running a business which, if you have any unplanned cost come out of the blue throws your company in to financial trouble. There surely should be a cash reserve for unexpected costs.
Click to expand...

Yes I totally agree. But my point is it a marginally better situation that they struggled because of a unexpected 600k outflow rather than not even being able to cover general running costs. Obviously still far from an ideal situation.
 
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