Winding-up petition number 5 - Here we go again!!!

[LondonRoader]

We don't. But I think we are already in the fire - I'm not sure a different one would be any hotter.

Take the personal perception and opinions out.
Has the club ever under FK stewardship or ground ownership been in danger of going pop? after the last 12 months of Tigers reign we have had how many scrapes with WUP's and other financial issues, the fire you describe is that because of Tiger not being able to pay the bills he took on.

I personally at the moment wouldn't be so hasty about putting all the clubs "eggs" in one basket.

 

[LondonRoader]

Well I guess that is always a possibility (the Glasers will leave Man U eventually and they will no doubt not know whether the replacements will be worse or better)
I am unsure whether any replacement could be that much worse than Kassam. Even though he reckons that he is the 'custodian' of the club

The scenario could get a lot worse with the club and ground under one owner... it could also get better, BUT there is nothing to indicate anything will change from the current situation apart from talk, we all wait and hope things will get better under the current owner.

 

[ZeroTheHero]

Well (as I am sure the usual suspects will be along to tell us in a minute) there is some money being spent by the current club owner(s). Just not on the ground - which is completely understandable.

Yes, Tigers and co's inability to pay bills on time is both worrying and incompetent and personally I have little faith in him. But that does not mean I have any faith in Kassam either! He is a hostile landlord - he has done absolutely nothing to help the club, not giving an inch on anything - and I don't think it would surprise any of us if (instead of being the club's guardian) he would like us out in a few years time so he can make money from the land. I don't think Kassam's ownership of the ground is any sort of factor in the club surviving this long except that it suits him to keep hold of it to keep the money coming in. True, that is some sort of protection but it is also a huge limiting factor on any progress the club can make. The crunch point will come (quite soon) when we have to possibly commit to another 25 years in a crumbling stadium held by a hostile landlord.

Could a new owner who had control of both club and the (a) ground be worse? Possibly, by selling the land/stadium they have just built/bought for some other purpose (although that would be a good financial trick - normally a club owns it's own ground and the value is in the existing land) or closing the club entirely - again, how that would make any financial sense I have no idea. On the other hand, it could be the (re)making of the club.

 

[yellowbow]

I understand Londonroaders argument to a point but my feeling is things started to go wrong for OUFC when the club and ground were separated. Yes there’s potential risk if the new owners get control of it but we just have to hope that any revenue streams generated would be beneficial to the club. They sure as hell aren’t at the moment, unless I’m missing something. I’m not looking to get into any arguments but I really don’t see anything positive that FK does for the club? I’m more than willing to listen if somebody can convince me otherwise.

I suppose a solution would be a council/community owned stadium with all revenue going to the club in exchange for a nominal rent. Can’t ever see that happening though, it’s all too political with taxpayers potentially getting upset.

 

[Foley]

The scenario could get a lot worse with the club and ground under one owner... it could also get better, BUT there is nothing to indicate anything will change from the current situation apart from talk, we all wait and hope things will get better under the current owner.

Not sure how things could get a lot worse?
Unfinished ground becoming more dilapidated by the year. Staff only allowed in the ground at certain times. A clearly very hostile Landlord who seems to do everything BUT be a custodian of the club.
Having a hostile Landlord who clearly does not have the clubs interested at heart is a lit worse than many possible alternatives.
The Priory is a classic case of Kassam's decisions since the ground and club split.

 

[AbbeyOx]

anyone know what happened in court?

 

[MarkG]

anyone know what happened in court?

Fleet back from brink

Ebbsfleet United have been saved from receivership after paying their tax bill ahead of a crunch court case.

www.kentonline.co.uk

"And the moves against Oldham, again by the tax man, and against Oxford by an undisclosed creditor were dismissed after the judge was told that the debts had been cleared. "

 

[AbbeyOx]

Fleet back from brink

Ebbsfleet United have been saved from receivership after paying their tax bill ahead of a crunch court case.

www.kentonline.co.uk

"And the moves against Oldham, again by the tax man, and against Oxford by an undisclosed creditor were dismissed after the judge was told that the debts had been cleared. "

lets hope that’s the end of that then

 

[Northernyellow]

Kas

Not sure how things could get a lot worse?
Unfinished ground becoming more dilapidated by the year. Staff only allowed in the ground at certain times. A clearly very hostile Landlord who seems to do everything BUT be a custodian of the club.
Having a hostile Landlord who clearly does not have the clubs interested at heart is a lit worse than many possible alternatives.
The Priory is a classic case of Kassam's decisions since the ground and club split.

Kassam's ownership of the club/ground has been a disaster almost from day one. He's a property man. Despite the 'stewardship' guff, he's appears only to be interested in current rental and/or future value of the land. Unless we get an owner with deep pockets (ie not Tiger) who can prise the ground off Kassam, our best bet might be to leave the county for 2-3 years (play at Wycombe) and force him to negotiate with zero rental and a depreciating asset. High risk, but I can't otherwise see how we are supposed to get rid of the bloke...

 

[Oxymoron]

And from the Fail

 

[Victor1986]

On the nail Northernyellow!!!

 

[Whingit]

Stadium Update

Oxford United can confirm that a winding up order issued against them by Firoka, the stadium company at the Kassam Stadium, has been withdrawn after the club fully paid the outstanding monies due.

www.oufc.co.uk

Interesting, although nothing will come of it.

 

[ZeroTheHero]

...our best bet might be to leave the county for 2-3 years (play at Wycombe) and force him to negotiate with zero rental and a depreciating asset. High risk, but I can't otherwise see how we are supposed to get rid of the bloke...

We have a contract with him for the next six years or so. If we don't play there we will still have to pay him. And pay to use Wycombe (!!) as well in your scenario. It's high risk for the club, but absolutely no risk to Kassam - he still gets his money, doesn't have to bother doing any repairs or maintaining the pitch and at the end we either come back with our tails between our legs or we find somewhere else and he gets to knock the place down and sell the land for housing, making a fortune. Kassam would be delighted if we went elsewhere!

 

[Deleted member 462]

“No other creditors were attached to the petition”

Christ how do these lawn mower companies, hotels and shower fitters stay in business if they never try getting back the money owed to them ?

 

[Marked Ox]

We have a contract with him for the next six years or so. If we don't play there we will still have to pay him. And pay to use Wycombe (!!) as well in your scenario. It's high risk for the club, but absolutely no risk to Kassam - he still gets his money, doesn't have to bother doing any repairs or maintaining the pitch and at the end we either come back with our tails between our legs or we find somewhere else and he gets to knock the place down and sell the land for housing, making a fortune. Kassam would be delighted if we went elsewhere!

Indeed and that tactic has really gone well for Coventry!

 

[MarkG]

Side tracking a bit, but for a company that loses millions per year, we haven't had any more winding up petitions from HMRC since January, so does that mean we are paying the bills on time (or at least before they get to the WUP stage)? All this at the latter end of the season when there isn't really any money coming in except for match day revenues.

 

[Scotchegg]

“No other creditors were attached to the petition”

Christ how do these lawn mower companies, hotels and shower fitters stay in business if they never try getting back the money owed to them ?

Moonshiner!!!

 

[Whingit]

None of these mysterious Russian loan-sharks that we were told about with such authority long ago, either.

 

[Scotchegg]

Side tracking a bit, but for a company that loses millions per year, we haven't had any more winding up petitions from HMRC since January, so does that mean we are paying the bills on time (or at least before they get to the WUP stage)? All this at the latter end of the season when there isn't really any money coming in except for match day revenues.

It would certainly appear to indicate that we've got a grip of the larger financial issues. The issue regarding staff wages was perhaps unexpected, but should have had a contingency in place to cover. But generally we do appear to be as stable as we ever have been under Tiger.

 

[frenchconnection]

Its all a fecking game to kassamski bastard keep sending out wups eventually one might slip through so he takes back possession sells on makes money .... the club obv cannot afford to take him on or buy the stadium ... though I wouldnt want to ...