Oxford In Financial Ruin

[STFC_Gazzza]

Someone who I used to work with in Banbury told me that the Pox are in the shit. Thought he was winding me up so did some investigation and here are some posts from the scum forum. I wouldn't want them to go bust but seems like non league football is finally taking its toll on the scum

http://www.oxvox.org.uk/phpBB2/viewtopic.php?t=193

http://www.oxfordshireforums.co.uk/topic.asp?TOPIC_ID=83773

http://www.oxfordshireforums.co.uk/topic.asp?TOPIC_ID=83576&whichpage=1

http://www.oxfordshireforums.co.uk/topic.asp?TOPIC_ID=83791

[Rich Pullen]

I used to think that - but FUCK em... Demotion will suffice as I wouldn't wish the loss of a football club on anyone.

[JPC82]

couldnt care less about Oxford

[Simon Pieman]

Someone's said the current owners make Kassam look good. Silly inbred, Kassam was surely the one that did the damage.

Does FK still charge them a rent for the three stands and the car park?

[Batch]

Them being a footballing joke makes me happy. I wouldn't wish going bust on them really, I used t think I would but after it nearly happened to us I kind f lost my sense of humour on this.

[Tails]

Hope they do alright. Wouldn't want them to go bust really, despite the reaction by some of their fans when we were close to the wire.

[Rich Pullen]

Someone's said the current owners make Kassam look good. Silly inbred, Kassam was surely the one that did the damage.

Does FK still charge them a rent for the three stands and the car park?

It's the lack of stadium ownership which has assisted there plight surely. That and not getting promoted from the Conference straight away

I'd be interested to see if it's Merry that's gone bankrupt - all it does is solidify Fitton & Co's business mentality of slowly but surely.

[Simon Pieman]

It's the lack of stadium ownership which has assisted there plight surely. That and not getting promoted from the Conference straight away

I'd be interested to see if it's Merry that's gone bankrupt - all it does is solidify Fitton & Co's business mentality of slowly but surely.

You get the feeling that BEST or MD would have done a similar thing had we got a new stadium. New stadiums increase revenue streams but it all depends where the money goes.

[STFC_Gazzza]

I think they expected to be promoted back to the league right away so paid stupid wages etc and went OTT as the divisions big spenders however now they are stuck for a third season in that division. I dare say some players are still on decent wages, gates are dropping below 4k and they dont own the stadium but fund youth set-ups etc.... Apparently they are losing 500K a year like us but are going nowhere on the pitch. Kassam is laughing really. He knows should the club go bust etc or get close to it he can buy them on the cheap etc and drip feed them etc. I dont know if the stadium loses money as well though?

[Tails]

I remember when Merry took over and brought Smith with him, the euphoria of the place was immense and they were certain that good things were just around the corner... Now look at them. I just hope the similar feeling we had when Fitton took over doesn't lead to the same kind of scenario, although I can't help but feel we've been relatively sensible and not banked on getting promoted like the yellow few did.

[Rich Pullen]

It was blatant they were in trouble when they started making loads on loan signings... That's what we did!

[RobertT]

FK does indeed still charge a rather tasty rent and I don't believe the club gets revenue from the grounds facilities as a matter of course.  I think they get matchday related revenues but I'm not so sure they get the weekday Conference stuff and Catering etc.

Would never want any club to face winding-up.  We spent long enough battling to get our club saved from the brink to know what it's like, and while they can wallow in the pub league forever, I wish them to do so as opposed to not existing at all.  I think the new ownership were a little naive there, thinking they could get the ground side of things sorted out, and continued spending on wages accordingly - I remember them mentioning they'd hit trouble when they had to comply with the wage limit, which they didn't have to in the 1st season.  Should have adjusted pronto rather than hoping for the best.

[STFC_Gazzza]

Maybe they can buy Oxford City's ground and redevelop it!

[michael]

Kassam is laughing really. He knows should the club go bust etc or get close to it he can buy them on the cheap etc and drip feed them etc.

I think you will find that the club has served it's purpose to Kassam, as he now has his conference facility, hotel, bowling alley and whatever else is on that site and came about as part of the stadium build. When he was chairman these all had to subsidise the football club, but now he is free of that.

I'm sure that Oxford will survive, somehow, but they are in one hell of a mess.

[RobertT]

The problem is the Conference are very strict on finances, so if they did so much as enter Admin they could see themselves slipping 1 or 2 divisions as punishment these days.