The Option To Buy Oakwell - Summary

Discussion in 'Bulletin Board' started by Dub-Tyke, Aug 18, 2020.

  1. Tyke_67

    Tyke_67 Well-Known Member

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    Cricket? :)
     
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  2. Duntpasstome

    Duntpasstome Well-Known Member

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    Are we supporting Chein Lee / Conway or James Cryne / Barnsley Council.?

    Who's the good guys, who's the tw#t?

    Any BBS betting odds for the winner?
     
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  3. She

    Sheriff Well-Known Member

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    GudjonFan has thrown up a very good question in another thread, and its one that I'm struggling to think of a reassuring answer to.

    This is where the statement is confusing with regard to its use of "the Club", which it originally defines as being Barnsley Football Club Limited, but subsequently appears to refer more to BFC Investment Co Ltd. Logically, it should be Barnsley Football Club Limited which ultimately purchases the Oakwell site as, in the event of a subsequent sale, this company would comprise the football operation and would own its own ground. If the two are ultimately separated into different entities, as they are now, then the football operation could be sold off, but be left homeless by another entity owning the site and choosing to redevelop it (for sake of argument).

    This is arguably the situation we're in currently, but my understanding is that Patrick Cryne did this as a form of protection for the site, and having BMBC as the other equal shareholder of the site is consistent with this, as it keeps an interest in the ground within the local community (ignoring the fact that BMBC could potentially still leave the football club homeless in this way, if they chose to).

    It's difficult to be 100% sure from the statement whether it's BFC Limited or the investment company which has the option to purchase the site, but any outcome which continues to leave the site ownership separate from BFC Limited, through which the footballing activities operate, surely can't be in the best interests of "the Club" and I would have legitimate concerns as to the motives of someone seeking to do this.

    That's why the one question I'd like to see an answer to, above all others, is who exactly is trying to purchase the site within all this.
     
  4. orsenkaht

    orsenkaht Well-Known Member

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    Depends what each party regards as winning? I'd suggest the following:

    BMBC: Retaining control of Oakwell and it's future development for the benefit of the local community.
    Crynes: Getting the rest of the sale price without handing over their 50% of Oakwell (which it seems they are unable to do).
    "The Club": Gaining the Cryne's 50% share of Oakwell.

    If so: BMBC 1/5; Cryne's 7/1; "Club" 20/1
     
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  5. kektyke

    kektyke Well-Known Member

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    Could it be the Doyles?

    Cryne bought it from Doyle, who was Mayor at the time and had obvious links to BMBC
     
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  6. 55&counting

    55&counting Well-Known Member

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    I've just read the statement again, and again, and looks to me like BFC Ltd is the organisation which is looking to exercise the option on the 50%.
     
  7. 55&counting

    55&counting Well-Known Member

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    BFC Ltd = Barnsley FC Investment Company = Chien et al.
     
  8. Tarntyke

    Tarntyke Well-Known Member

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    Reliably informed BMBC not the 3rd/ mystery party. Council were expecting an approach before now for their shares from the owners ( which they would be willing to sell) Council would make little or no profit from this but wouldn’t lose out on initial fee paid. Person who told me doesn’t know as yet who the ‘other party is’ but if the council know who is, this person will get to know. Just telling what I’ve been told that’s all
     
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  9. 55&counting

    55&counting Well-Known Member

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    The plot thickens if this is true.
    Another intriguing statement in the statement is the reference to a significant new investment being made by BFC Investment Company into the club if the 50% deal does go through.
     
  10. orsenkaht

    orsenkaht Well-Known Member

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    That's a game changer!
     
  11. 1887 RED

    1887 RED Active Member

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    How about ck beckett as the 3rd party has to be some one with connections to the club
     
  12. Redhelen

    Redhelen Well-Known Member

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    Why haven't the owners approached the council I wonder?
     
  13. Tyke_67

    Tyke_67 Well-Known Member

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    They might have done . They aren't going to tell us everything
     
  14. She

    Sheriff Well-Known Member

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    No, all different entities. BFC Ltd is the one I care about. BFIC owns it, but might not always do so. Oakwell belongs in BFC Ltd, IMO.

    Not sure at the moment if that's the plan. Referring to both as 'the Club' muddies the waters on this.
     
  15. Stephen Dawson

    Stephen Dawson Well-Known Member

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    Did Cryne separate the ground from the club in order to cover his back financially? Should the club go tits up the Cryne family and the council would benefit from selling it to Tesco?
     
  16. Dub-Tyke

    Dub-Tyke Well-Known Member

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    The 3rd party has to be the previous owner surely - who else would have added that in the deeds and contract at the time.....

    The previous owner was Peter Doyle.

    From a business point of view, if that is the case, then it makes sense and i’d probably do the same lol. Take the option, add a few 0000s, then sell back on to Chien et al.

    Just a guess, but plausible.
     
  17. Dub-Tyke

    Dub-Tyke Well-Known Member

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    No, it was all about protection of the assets to stop that exact thing happening. BMBC certainly wouldn’t and can’t agree to it - as that was the sole reason for their involvement in it.
     
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  18. MexboroughTyke

    MexboroughTyke Well-Known Member

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    He did always say he was a reluctant owner, and would have sold to the right people. It could have been as you say, or it may have been to safeguard the assets away from the company on the off chance new owners wanted to come in and strip the club of it's assets. Either way, involving the council doesn't always end well, see Coventry as an example.
     
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  19. Dub-Tyke

    Dub-Tyke Well-Known Member

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    I’d guess, it’d make more financial sense for the investment company, and not the actual club, to buy the ground. Doesn’t put the club in the red, doesn’t affect FFP and potentially the Investment company wouldn’t have to charge the £150k annual rent to the club.

    Perhaps this hasn’t been welcomed by some parties, as the club and ground would still be legally separate. From a financial view, it would seem to make more sense though.

    Again, just a guess.
     
  20. She

    Sheriff Well-Known Member

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    Done in the recent aftermath of P. Turdoyl's attempted profiteering, and Risdale's short tenure. Quite a logical move at the time, and in the interests of the club.
     
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