registration of charge

Income from transfers is almost never paid as a lump sum. So as the income is spread into the future there can be yearly losses. The future payments are an asset to the club, but are only included on the books when paid.
 
lots of guessing going on (myself included) ... joys of football club's and there financial running, very hard to get a true, accurate understanding of the financial plight of our club/any club - without DE or Tiger publicly declaring.

when DE mentions ploughing significant sums into Oxford, is that the collective Oxford (womans team etc..) or just OUFC - womans team and OUFC are separate companies.

there is also an outstanding debenture with Barclays from 2009
 
Income from transfers is almost never paid as a lump sum. So as the income is spread into the future there can be yearly losses. The future payments are an asset to the club, but are only included on the books when paid.

If a club sells a player for £3 million ,
Half payable up front. Then the club puts 1.5 in the bank and the other 1.5 is on the balance sheet as a debtor. So an asset of the club and hence also of whoever own the club at that time.

Contingent assets like when we got a sell on for dean whitehead are only accounted for when certain to be received. Similarly contingent fees for appearances , international appearances ex.
 
My recollection is that what he said was more along the lines of 'no more debt will be accrued', although it was widely interpreted the way you say.

I've had a quick look to find the exact quote but failed.

What he actually said was that he would write off any additional debt accrued on his watch.
He said this angrily after polite but persistent questioning from Myles at an open meeting. Amazing what can be achieved by simply asking serious questions and demanding a proper answer.
This is a quite different matter as I read it. This is way of screwing more money out of the club
that's not 100% true is it Charlie?

What isn't true?
 
Look at section 9 of the Charge document. If the bank has more than £995,817 on 30 April 2018, this will be paid to the company. If on 30 September 2018, the account has more than £1,284,074, this will be paid to the company.

Does it seem likely these are expected deferred transfer fees (and in total or individually?). The dates presumably must be when other clubs are due to pay OUFC?

Rather than "screwing the club", it is more Eales getting protection for his 'investment' to be repaid. Tiger has spent enough time that he should know what the assets of the club were when he was buying it. The alternative would be to up the purchase price by £5Million using this to repay the Ensco debt, and then the club has the player contracts as unsecured assets, but conversely a higher amount due to Tiger if he'd put this into the club as debt.

What I think is of more concern is what funding Tiger has to :-
A> fund the structural losses of north of £1million per year excluding player transfers (which are now out of the picture for the foreseeable future)
B> get the club back running properly, and whether there is any prospect of challenging for promotion next season, assuming we are in L1.
C> what his plans for the club are? Is it a plaything, does he hope to flip it on like Eales has for a profit?
 
The Debenture is just security for DE for outstanding money agreed for the deal with Tiger . As we are not privy to the Sale and Purchase Agreement we do not know (a) what DE sold the club for and (b) what sum remains outstanding. It is entirely possible and probably quite likely that the value of the Club's assets, including further payments from clubs to whom we have sold players, exceeds the actual amount that remains outstanding to DE. So to suggest that DE is going to squirrel away all the current assets of the Club is nonsense.
 
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What isn't true?[/QUOTE]

that the club will have to send every penny it earns to a former owner (or whatever your precise words were), this is as ridiculous as your previous post about shareholders liability. Would you like to come to my lad's next economics lesson?
 
Last time I checked Eales wasn’t a registered charity. He is a business man who wants his money back for his investment. That investment paid for a very well worked scouting system which made the club money, I see no issue with him taking his cut from that trading model.

It will be up to tiger to make the club successful in a way whereby it makes money and in return makes Tiger money.
 
So is this just the IL/NM debt that is now being paid off?

He paid a quid for that debt. Now it’s woth 4.3 million???!!!!

More crass posting. You might as well say he paid £1M for the squad and the players mentioned brought in transfer fees of several million???!!!!

Eales and Ashton took a club struggling to get near the L2 play offs into L1 and with their then player trading model created a saleable Club.

Eales ended up paying some £4M of Lenagan’s debt back which is £3M more than Charlie and Donald thought was a reasonable price. So Eales then ported the balance as due to Ensco. It’s up to any prospective buyer if they choose to include previous owners’ debt when they buy the club. Looks like Tiger has.
 
A lot of folk on here don't understand finance. A lot of folk don't appear to have grasped the concept of capital management. I am no accountant or business genius but, even I can see that Eales will leave OUFC with more than a few bob in his pockets.

Read this carefully.
 
Semi interesting that Tiger's company is registered in Singapore:
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Wow anyone else feel duped by Darryl right now? He definitely said he would wipe out debt run up on his watch and now he has £4.2m charge on us. Add this to the months of silence, manager saga and selling a lot of key players in the summer and sadly I've now got a very different view of Darryl. Sadly shows all owners are in it for themselves even the ones you thought were the good ones.

What really worries me is that now we could sell a player for £2m (say Lego) and we don't see a penny if it and it goes straight to Darryl.

I'm starting to wonder how little Tiger paid for the club up front. Why would you want this charge hanging over us surely you only agree to this as you don't have the cash up front and if you don't have the cash up front how the hell is he going to afford to run the club?

We really need to hear what the plan is fast as we don't have any desire for the stadium apparently and now we have a big debt to Daryl. Anyone know what the total debt is as the posts above aren't clear? Suggestions that we have big debt including the charge to Darryl, which is the complete opposite of what Darryl promised. So much for him saying he's deferred payments for interest of the club sounds like he's got us over a barrel for a lot of money and that charge would be stuck there even if Tiger ever decides to leave if it hasn't been paid back. Am I wrong in saying only ways to get shot of it are to pay it back, negotiate with Darryl to get a new deal (and he doesn't have to!) or go into administration?

Am I worrying too much here. Sorry just trying to piece together what's going on?

Gotta give Tiger our backing and really hope there's exciting times ahead just really want to understand what the plan is and what's going on.
 
That would be my only question, u say u feel duped by him, but then say u wonder how little he sold the club for. If he sold it for next to nothing then this is just getting his money at a later date isn’t it? Don’t think we have actually been told a sale price
 
Wow anyone else feel duped by Darryl right now? He definitely said he would wipe out debt run up on his watch and now he has £4.2m charge on us. Add this to the months of silence, manager saga and selling a lot of key players in the summer and sadly I've now got a very different view of Darryl. Sadly shows all owners are in it for themselves even the ones you thought were the good ones.

What really worries me is that now we could sell a player for £2m (say Lego) and we don't see a penny if it and it goes straight to Darryl.

I'm starting to wonder how little Tiger paid for the club up front. Why would you want this charge hanging over us surely you only agree to this as you don't have the cash up front and if you don't have the cash up front how the hell is he going to afford to run the club?

Eales stated that he would wipe out the debt incurred on his watch, so stands to reason that he would wipe out any profit generated in the same period. The days of benevolent football club owners seem to be long gone.

In terms of these debentures, they are secured against the future cash inflows arising from transfers. I guess "normally" these would be baked into the agreed sale price along with other assets.

But in this case, Tiger seems to be in effect purchasing the club on tick. For a man with lofty ambitions, this raises serious questions about his ability to finance the project.
 
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