Players and staff not paid for March

[yellowbow]

Football finance expert gives verdict on Oxford United accounts

OXFORD United’s latest accounts are not unusual for a club in their position – but issues over transferring money from overseas could be a…

www.oxfordmail.co.uk

 

[MiddleBartonYellow]

Football finance expert gives verdict on Oxford United accounts

OXFORD United’s latest accounts are not unusual for a club in their position – but issues over transferring money from overseas could be a…

www.oxfordmail.co.uk

Most clubs in the same boat then. Make's you wonder why you would put money into football when there is very little chance of getting it back.

 

[AbbeyOx]

quote from that article:

He added: “If you know what was spent by the people above me on things that nobody would ever hear about, it would blow you away.”

well tell us and we might understand and be a bit more reassured

 

[Navegante]

Maguire said: “There is nothing really to stop fairly instantaneous transfers of large sums of money, because that happens in global markets all the time, so I’m a little bit cautious with regards to the noises from the Far East in that regard... I would be concerned about late payments. If you are a wealthy individual then your finances are distributed across the world because you’re aware of local problems that can arise.”

 

[outsidethebox]

A £2m loss in the 12 months to June 2018. I wonder how that splits between the two ownerships during that period? Also be interesting to know what the loss to date for the current accounting year is and how that compares with the owners forecasts.

 

[Berliner]

Maguire said: “There is nothing really to stop fairly instantaneous transfers of large sums of money, because that happens in global markets all the time, so I’m a little bit cautious with regards to the noises from the Far East in that regard... I would be concerned about late payments. If you are a wealthy individual then your finances are distributed across the world because you’re aware of local problems that can arise.”

Maybe he's in need of a job? Sounds better than what we've currently got.

 

[AbbeyOx]

Most clubs in the same boat then. Make's you wonder why you would put money into football when there is very little chance of getting it back.

can understand it if you’re a fan or connections with town or city but think the lure of the premiersh#t is the biggest reason. not many actually make it though

 

[MarkG]

“I think Oxford are in a broadly similar situation to that of many other clubs at that level,” he said.
“Clubs are losing money because control over costs and in particular in respect to wages is poor within the game.

So you can run a club profitably, at an affordable loss to the owner, or at an unaffordable loss.

The first is very rare in football with perhaps a handful in the 92.
As to affordable losses, many owners have very deep pockets and can subsidise their clubs. What is affordable depends on the owner, to some it may be £1M a year, to others £10M a year.

My worry is that £2M or more per year is not affordable to Tiger. I don't know the scale and profitably of his day-to-day business, or what he has left over from his time at Reading, but he doesn't appear to be a big name business tycoon with any obvious large source of wealth.

 

[m]

Many people spend many hours playing football manager simulators.

Some people are wealthy enough to acquire the real thing.

 

[Marked Ox]

Well KR does suggest (assuming it happens) that there will be different investors.

 

[Essexyellows]

Just shows how utterly ineffective the "Financial Fair Play" rules are really.
The most concerning aspect is that once one large club fails the whole house of cards implodes.
When you read that Fulham spent £100 million last year it really makes you wonder where it will stop before the game destroys itself.

 

[Marked Ox]

Just shows how utterly ineffective the "Financial Fair Play" rules are really.
The most concerning aspect is that once one large club fails the whole house of cards implodes.
When you read that Fulham spent £100 million last year it really makes you wonder where it will stop before the game destroys itself.

And Fulham spent it so effectively. ?

 

[bazzer9461]

Well KR does suggest (assuming it happens) that there will be different investors.

Sorry I missed that, when was that?

 

[greatunclekip]

Well KR does suggest (assuming it happens) that there will be different investors.

I think its now beyond clear that Tiger is not independently wealthy enough himself to fund the club. The delay every time payment is due will be with trying to get it from multiple different investors.

 

[Marked Ox]

Sorry I missed that, when was that?

In the article linked by Yellowbow.

 

[uptheus]

I think its now beyond clear that Tiger is not independently wealthy enough himself to fund the club. The delay every time payment is due will be with trying to get it from multiple different investors.

Or his sister!!

 

[uptheus]

Most clubs in the same boat then. Make's you wonder why you would put money into football when there is very little chance of getting it back.

Darryl seemed to do ok!!

And he could afford to buy hotdogs, drinks and scarfs etc!

 

[Yellows1]

Or his sister!!

?

 

[Foley]

A £2m loss in the 12 months to June 2018. I wonder how that splits between the two ownerships during that period? Also be interesting to know what the loss to date for the current accounting year is and how that compares with the owners forecasts.

There is the loss then the large backdated service charge which DE didn't pay but Tiger had to pick up.
I would imagine that the cash outflow in the year to June 19 will be a lot more than £2m

 

[Foley]

I think its now beyond clear that Tiger is not independently wealthy enough himself to fund the club. The delay every time payment is due will be with trying to get it from multiple different investors.

Somebody had put in more than £2M since Tiger has been in charge.
It seems beyond clear to you so who has funded the club to this extent?