Board Zaki Steps Down

[carefreeoufc]

Link from official website below:

Zaki Steps Down | Oxford United Football Club

Oxford United’s Vice Chairman Zaki Nuseibeh is stepping down from his role at the club.

www.oufc.co.uk

 

[m]

Do we assume this is a cost-cutting measure?

 

[carefreeoufc]

Do we assume this is a cost-cutting measure?

Surely he was doing the role gratis? For his love of Oxford!

 

[West Oxon U’s]

Do we assume this is a cost-cutting measure?

More like a bank balance preserving measure, possibly, for Zaki?

 

[Oxt1]

Do we assume this is a cost-cutting measure?

No, as he has taken his investment with him. So the club are actually losing money here rather than saving any.

 

[West Oxon U’s]

 

[tatabanya]

Reckon this might mean we see some quieter members of the board start making some noise

 

[m]

Thanks all for the replies.

 

[Followtheox1]

Who is actually on our board?

 

[greatunclekip]

Not ideal of course. But as an investment banker, when we blew the playoffs, holding your cash in there for another loss making season makes no sense. Quite simply we'll never have a better chance.

Covid then hits and it becomes a total no brainer.

 

[psquared]

No, as he has taken his investment with him. So the club are actually losing money here rather than saving any.

When Zaki says he will "leave his role at Oxford United and exit his investment", does this simply mean however many shares he had (and this was never clear) have now been sold to existing board members?

 

[Essexyellows]

 

[unification]

Who is actually on our board?

According to CompaniesHouse and excluding the departing Zaki, we have a board of directors listed as:

Aninya Bakrie
Horst Geicke
Tiger

So, not many moneymen left since Erick Thorir left too. I think Tiger is going to need a few extra wealthy mates to prop us up. The problem is that COVID is stymieing investment in every industry at present. Who is going to want to throw money at a football club in the current circumstances?

 

[Victor1986]

"Exit my investment" usually means 'I want my money back'. Have we paid this quarter's rent I wonder?

 

[ttg17]

Very classy letter.

Worrying though.

 

[Berliner]

According to CompaniesHouse and excluding the departing Zaki, we have a board of directors listed as:

Aninya Bakrie
Horst Geicke
Tiger

So, not many moneymen left since Erick Thorir left too. I think Tiger is going to need a few extra wealthy mates to prop us up. The problem is that COVID is stymieing investment in every industry at present. Who is going to want to throw money at a football club in the current circumstances?

I am much more worried that there is no leading man from a board to fan perspective there. Zaki was the only guy who really "got it" from a footballing perspective. Bakrie is all about taking pics with his mates, Geicke is always the silent partner (has anyone actually heard him say anything in connection with OUFC) and Tiger is, well, Tiger...updates but obviously not written by him.

And that's before we start considering how hard hit these guys are following COVID.

 

[Manorlounger]

A real shame. A very outgoing character and always friendly. He made a very good ambassador for the club and obviously had his head screwed on with regard to finance. I hope this is not sign that the finances are troubling the board members. Without the big boys letting us have so much backing the club could see some hard times.

 

[tonyw]

"Exit my investment" usually means 'I want my money back'. Have we paid this quarter's rent I wonder?

Depends how his "investment" was structured (I put investment in quotes because only a crazy person would actually view a League One football club as an investment, rather than a fun way to burn your money!)

If he simply owned equity in OUFC, then he's probably out of luck. Can't get your money back then unless and until someone wants to buy your shares.

If, however, his investment took the form of some kind of debt instrument, which he's looking to recall, then that could put the club under even more financial pressure.

Either way, it's not great news because Zaki was an impressive guy who usually talked a ton of sense.
But I'm not sure I can blame anyone for not wanting to sink any more of their hard-earned cash into the football industry right now.

 

[AbbeyOx]

wonder what it means re stadium?
sign another 25 year lease at the shitpit

 

[unification]

I am much more worried that there is no leading man from a board to fan perspective there. Zaki was the only guy who really "got it" from a footballing perspective. Bakrie is all about taking pics with his mates, Geicke is always the silent partner (has anyone actually heard him say anything in connection with OUFC) and Tiger is, well, Tiger...updates but obviously not written by him.

And that's before we start considering how hard hit these guys are following COVID.

Agreed. The only solace I find in all of it is that it won't just be us!

Unless you're Jeff Bezos, sell refrigerated vans to supermarkets or had shares in a surgical mask company, the majority of businesses have been set back by Covid. I can imagine that the majority of football chairman and owners are in the same position.

I hope we have enough to get through it though.

 

[Junior_1]

I wonder in a roundabout kinda way if a certain Mr K may be approached to see if he’s Interested in coming along for a new journey...

 

[werthersoriginal]

Erm isn't this quite worrying? Maybe prompted by the lack of progress with the stadium as well as by Covid?

 

[CaptainOx]

In Robinson's iFollow interview prior to Bristol Rovers, he made a big thing of pointing out how well the board have supported him and the club, not just during Covid but in the last two years. He then listed off the names of the board/investors, didn't mention Zaki and Chris Williams didn't correct him, I thought it strange at the time but makes sense now!

In his list, he reeled off Tiger, Horst (Geicke), Erick (Thohir), Anin (Bakrie) and then what sounded like "Barry and "Susie" - any ideas who they are?

 

[Wallop]

In Robinson's iFollow interview prior to Bristol Rovers, he made a big thing of pointing out how well the board have supported him and the club, not just during Covid but in the last two years. He then listed off the names of the board/investors, didn't mention Zaki and Chris Williams didn't correct him, I thought it strange at the time but makes sense now!

In his list, he reeled off Tiger, Horst (Geicke), Erick (Thohir), Anin (Bakrie) and then what sounded like "Barry and "Susie" - any ideas who they are?

Yes. ?

 

[outsidethebox]

Barry is obviously Bazzer.

 

[Marked Ox]

Did Thohir sell his stake in the club and did he just remove himself from the board?

 

[Wallop]

Did Thohir sell his stake in the club and did he just remove himself from the board?

Did he ever have a stake or was he there as a name/professional advisor? I would imagine he had to sever all ties given his Governmental position.

 

[RyanioBirdio]

Barry is obviously Bazzer.

Tell him to sign a striker.

 

[Marked Ox]

Did he ever have a stake or was he there as a name/professional advisor? I would imagine he had to sever all ties given his Governmental position.

I thought one of the investment vehicles of his owned some of the equity in the holding company that owns OUFC shares but that could be my memory being wrong.

 

[Fred]

Let's be honest our predictions for oufc since Tiger took over have been quite often wrong. Time will tell.