OxVox Site

[GodalmingYellow]

You wouldn't get 7% on this deal at current rates in my view, both because of the level of base rates and anticipated short to medium term expected rises in base rates, as well as the very high risk factor.

You might get 8%.

£13m @ 8% = £1.04m interest

Current interest = circa £8m @ 6.5% (from memory) = £520k

Additional cost of borrowing is therefore £520k

Plus existing losses varying between £250k and £500k. Again from memory, I recall that Firoka has had to report setting aside of £500k for to cover current year Stadco losses.

So that could reasonably be £1m a year additional income to find just to break even.

So even if you did manage to lure Premier egg chasers at £500k per year rent, and get around the connorbation rules governing Premier egg chasing, that still leaves big losses, a crap football surface and no contribution to the football club.

Sounds great!

Firstly I nthink you've misunderstood what I was saying. I wasn't suggesting that you get a rugby club in as a tenant what I was saying that a rugby club could BUY the stadium at effectively half the price that it would cost OUFC because they already have OUFC as a tenant and they don't care about what we do to the pitch.

As for the losses you quote for the stad co (from the '05 accounts as I haven't got the '06 at hand) these are losses AFTER interest payments. You can't include the interest payments twice.

Your last sentence is exactly what worries me - If Kassam gets fed up with waiting around for Lenagan to piss or get off the pot and finds a rugby club to buy the stadium then as you say:

&quotthat still leaves big losses, a crap football surface and no contribution to the football club&quot

but this way it's forever![/quote]

I'm not including the interest payments twice, as I only took account of the increase in interest payments by borrowing an additional £5m. Therefore, it is the additional cost of borrowing, plus the cost of losses which need to be recovered, and the existing cost of borrowing isn't taken into account twice.

Likewise, I didn't (and don't) have the Stadco accounts to hand, so I apologise if any of the numbers are materially incorrect.

I agree completely that the club is in a very difficult position here. Kassam has the club by the short and curlies largely.

Kassam is asking what he believes to be a fair sum, and he will not shift from that, especially after the rather silly comment from Ian lenagan that he agrees with the price has destroyed his negotiating position. That is unless Kassam gets fed up with the ongoing losses, which be eating away at him.

Whilst making significant losses, Stadco clearly isn't worth £13m. Its worth maybe £9m debt free (by which I mean no outstanding capital loans, mortgages or directors loans, and I suspect Ian Lenagan now realises this.

[Snake]

As with anything, the Stadium, its land and business is worth what people are prepared to pay for it and how desperate the seller is for the money. Given that FK is hardly strapped for cash/securities/property, and having had his name in the national papers recently because of the refuge that the Kassam Stadium offered during the worst floods in Oxfordshire for 60 years then I can’t see him biting on a reduced offer from what was originally agreed.

We really do need a proper sugar daddy to come along to make proper progress up the Football Pyramid.

[Snake]

I just had a quick look at this - http://www.oxvox.org.uk/phpBB2/viewforu ... e6fe5540db - and it seems like OV have about 10% of their paid-up members coming on board now, including Martin B and Jon M.

An interesting board. Top topics appear to be Stadium Catering and discussing what RageOnline have to say about their board. Oh, and the fact that TVP can’t be arsed to send a rep to talk to them.

No mention of a ping-pong League yet, but give it time.

[Ascension Ox]

I just had a quick look at this - http://www.oxvox.org.uk/phpBB2/viewforu ... e6fe5540db - and it seems like OV have about 10% of their paid-up members coming on board now, including Martin B and Jon M.

An interesting board. Top topics appear to be Stadium Catering and discussing what RageOnline have to say about their board. Oh, and the fact that TVP can’t be arsed to send a rep to talk to them.

No mention of a ping-pong League yet, but give it time.

Hilarious.

[Snake]

I really think that until OV sort out the IT issues related to spammers they should restrict the use of their new forum to members over the age of 18, given that the majority of postings on there in the last month are targeting an adult audience.

However, it’s good to read some contributions from OV committee members that have nothing to do with cheap Viagra or pornography, and that they are still concentrating their minds (in the main) on the match day catering facilities. Well, it’s a big issue for some supporters.

[GodalmingYellow]

However, it’s good to read some contributions from OV committee members that have nothing to do with cheap Viagra or pornography, and that they are still concentrating their minds (in the main) on the match day catering facilities. Well, it’s a big issue for some supporters.

You missed the point big time.

It is about how OUFC and StadCo treat suppliers and customers, the effect of that on the perception of OUFC within the community, and the effect on the club's future prosperity.

[Snake]

http://www.oxvox.org.uk/phpBB2/viewtopic.php?t=69

And the debate is warming up..

Last I heard John Angus was making himself a GY dartboard

[GodalmingYellow]

http://www.oxvox.org.uk/phpBB2/viewtopic.php?t=69

And the debate is warming up..

Last I heard John Angus was making himself a GY dartboard

Apparently, he doesn't have anything better to do.

[Snake]

I think you’ve missed my point, GY, which is

Not everyone who follows our team is as passionate about the pies and dust in our Stadium as you and your fellow OxVox chums are. In the meantime Oxford United continue their decline down the football pyramid and have now lost touch by a margin of 6 points with the promotion pack. In fact we find ourselves chasing an opportunity to get into the playoffs, and it’s still only September.

Yes, there is a broken light bulb or two around the place and the bogs do sometimes run out of loo paper, but should these issues be near the top of OV’s list of things to sort out?

‘Fiddling while Rome burns’ springs to mind..

[GodalmingYellow]

I think you’ve missed my point, GY, which is

Not everyone who follows our team is as passionate about the pies and dust in our Stadium as you and your fellow OxVox chums are. In the meantime Oxford United continue their decline down the football pyramid and have now lost touch by a margin of 6 points with the promotion pack. In fact we find ourselves chasing an opportunity to get into the playoffs, and it’s still only September.

Yes, there is a broken light bulb or two around the place and the bogs do sometimes run out of loo paper, but should these issues be near the top of OV’s list of things to sort out?

‘Fiddling while Rome burns’ springs to mind..

You're right, I did miss the point, but that was one dealt with above, where you had completely mis-understood the purpose of the debate. Read the earlier comments to remind yourself.

Maintaining the Stadium is an essential part of retaining the supporters, albeit not on the same scale as team issues, granted.

Having said that, there is little OxVox can do about the team issues, whereas there is plenty they can do about stadium maintenance.

[A-Ro]

Having said that, there is little OxVox can do about the team issues.

Well maybe you should get out of your shell a bit and make (y)our voices heard.

[A-Ro]

Having said that, there is little OxVox can do about the team issues.

Well maybe you should get out of your shell a bit and make (y)our voices heard.

Hmmm! I've just read the OxVox site and your discussions regarding the OxVox committee, I don't think anyone could accuse you of not getting out of your shell GY.

[GodalmingYellow]

Having said that, there is little OxVox can do about the team issues.

Well maybe you should get out of your shell a bit and make (y)our voices heard.

Hmmm! I've just read the OxVox site and your discussions regarding the OxVox committee, I don't think anyone could accuse you of not getting out of your shell GY.

I like to be active.

[Mally]

Is it just me that thinks OxVox are letting the club off the hook far too easily here. The football club (with whom OxVox have a relationship) have contracted Firoka to provide the stadium to the club. Shouldn't OxVox be directing their issues to the club for them to sort out? If OxVox were unhappy with the club's choice of kit or it's quality, would they be going direct to the kit manufacturer or asking the club to sort it out?

Surely OxVox's number one request to the club should be for them to purchase the stadium so they have control of all the issues relating to it. Failing this the club has a responsibility to it's paying customers to sort out any issues themselves through whatever procedures are in place between the two companies.

[Snake]

I agree with Mally, but I’d go further than that.

The club is currently outside the Division V playoff zone and are losing in excess of £10,000 a week. We don’t own our stadium and so have no collateral. We have a manger approaching the age of 67 and currently living on past glories, and no one really knows what the Chairman does for the club other than smile for the local papers when they want a photo and buy drinks for supporters at away games.

Meanwhile, our real financial backer has other sporting interests, but OxVox are content to be arguing about the quality of the food and what pictures should be put up in the Stadium to remind Us of what a glorious club we USED to be.

Terry is right to have a real go at OV on their own forum, because it seems to me that all OV want to do is ingratiate themselves with whoever can be arsed to spend an hour or so of their time at a meeting with them.

/

Q. How many members of OxVox does it take to change a light bulb at the Kassam Stadium?

A. Clearly, more than the 265 they currently have.