Director Takes £11m From Football Club

Discussion in 'General Business Forum' started by TheBlackpoolCopywriter, Mar 5, 2012.

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  1. TheBlackpoolCopywriter

    TheBlackpoolCopywriter UKBF Newcomer Free Member

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    Interested to hear the views of business-people on this one.

    Blackpool FC majority shareholder, Owen Oyston, has taken £11m out of the football club for the season 2010/11. This is according to the recent set of accounts submitted to Companies House. I have a copy of these accounts so if anybody is interested let me know.

    Majority of Blackpool fans are furious about this, mainly down to the lack of investment in the football club, especially after the windfall of reaching the Premier League last season.

    I guess this depends on what your views of a football club are. In my opinion, they are the heart of a community, so the fact a director can take the equivalent of over £210k per week (majority of which is club generated money) is morally wrong.

    For those of you that are unaware of the greed of the Oyston family, I think this puts it into perspective. Out of a £51.7m turnover for season 10/11, a staggering £5,000 was donated to charitable causes.

    I know some of you may not be Daily Mail readers, nor am I, but there is an excellent article on there which I cannot post the link to. Search Owen Oyston £11m, I'm sure it'll come up.
     
    Posted: Mar 5, 2012 By: TheBlackpoolCopywriter Member since: Mar 5, 2012
    #1
  2. Montaigne

    Montaigne UKBF Newcomer Free Member

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    If the football club is a business owned by him then surely it's up to him what he does with the profits?
     
    Posted: Mar 5, 2012 By: Montaigne Member since: Jul 9, 2011
    #2
  3. arcon5

    arcon5 UKBF Ace Free Member

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    I don't think you can judge his actions without a fuller picture of the clubs financial situation and how he took it out (e.g. was it paid in dividends, wage, directors loan) etc
     
    Posted: Mar 5, 2012 By: arcon5 Member since: Sep 6, 2006
    #3
  4. TheBlackpoolCopywriter

    TheBlackpoolCopywriter UKBF Newcomer Free Member

    9 3
    Basically a wage to himself. The Oyston family have all sorts of different companies set up which they use solely to give themselves interest free loans from the football club. They are robbing the club blind of any income it receives.
     
    Posted: Mar 5, 2012 By: TheBlackpoolCopywriter Member since: Mar 5, 2012
    #4
  5. Montaigne

    Montaigne UKBF Newcomer Free Member

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    Again, if it is their company and they're not breaking the law then what's the issue?
     
    Posted: Mar 5, 2012 By: Montaigne Member since: Jul 9, 2011
    #5
  6. TotallySport

    TotallySport UKBF Legend Full Member - Verified Business

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    its a business, the times when football was a working mans passion are long gone, anyone willing to pay £35 to watch a game is insane, and shouldn't expect anything less.
     
    Posted: Mar 5, 2012 By: TotallySport Member since: Jul 18, 2007
    #6
  7. woodss

    woodss UKBF Enthusiast Free Member

    602 219
    It's a business, not a charity - if he wants to take money out, so be it - I fail to see how he's obliged to do certain things just because it's morally right in the eyes of supporters.

    Perhaps his point of view is that he is morally obliged to look after his own family and interests first - the football club is just a very profitable means to an end...
     
    Posted: Mar 5, 2012 By: woodss Member since: Feb 22, 2007
    #7
  8. sirearl

    sirearl UKBF Legend Free Member

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    I believe its £100 for an arsenal ticket.:|

    Earl
     
    Posted: Mar 5, 2012 By: sirearl Member since: Apr 23, 2007
    #8
  9. woodss

    woodss UKBF Enthusiast Free Member

    602 219
    That is expensive toilet paper

    (Spurs fan ;D)
     
    Posted: Mar 5, 2012 By: woodss Member since: Feb 22, 2007
    #9
  10. andygambles

    andygambles UKBF Ace Full Member - Verified Business

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    But it is OK to pay the players £200k per week?
     
    Posted: Mar 5, 2012 By: andygambles Member since: Jun 17, 2009
    #10
  11. TotallySport

    TotallySport UKBF Legend Full Member - Verified Business

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    it his business he can pay the players what he wants, if you were the player would you say no to £200K a week.
     
    Posted: Mar 5, 2012 By: TotallySport Member since: Jul 18, 2007
    #11
  12. andygambles

    andygambles UKBF Ace Full Member - Verified Business

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    My question was directed at the OP who suggested the owner taking that much was wrong.
     
    Posted: Mar 6, 2012 By: andygambles Member since: Jun 17, 2009
    #12
  13. GraemeL

    GraemeL Pain in the neck? Full Member - Verified Business

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    No. Thats below the MWFF.

    (Minimum wage for footballers)
     
    Posted: Mar 6, 2012 By: GraemeL Member since: Sep 7, 2011
    #13
  14. captaincloser

    captaincloser Banned

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    The mistake was allowing such a disreputable family to take control of the club. The whole history of how their money has been made and the personal life of the one who went to jail would probably be enough for most clubs not to take them on.They are a cancer on the club.
     
    Posted: Mar 6, 2012 By: captaincloser Member since: Mar 20, 2010
    #14
  15. willitbe

    willitbe UKBF Newcomer Free Member

    785 142
    I think they are entitled to take what they want. They have been involved with that club for years and funded the bad times out of their own pockets..

    What a socialist attitude to take, saying it is morally wrong to pay himself some wages from a club he has funded. Regardless of what one of them was banged up for, they are seen as fit and right owners by the Leagues they have been in, so what right do you have to question it?
     
    Posted: Mar 6, 2012 By: willitbe Member since: Aug 25, 2008
    #15
  16. bdw

    bdw Banned

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    Is there something wrong with a socialist attitude? :|

    .
     
    Posted: Mar 6, 2012 By: bdw Member since: Aug 13, 2008
    #16
  17. MancunianCreative

    MancunianCreative UKBF Newcomer Full Member

    611 112
    I'm afraid I have to agree with most here. It's his club, he owns it. He takes out what it makes.

    A different look at owners is the Glazer family at Manchester United. They indebted a highly profitable company to purchase it, and they're taking large salaries instead of servicing the debt they've lumbered the club with. One can only hope they are bought out soon.
     
    Posted: Mar 6, 2012 By: MancunianCreative Member since: Aug 26, 2011
    #17
  18. vvaannmmaann

    vvaannmmaann UKBF Legend Free Member

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    My bold.
    Having never heard of the man I read the Wiki entry.Seems his money came from running an estate agents which he sold off and lifestyle magazine publishing.
     
    Posted: Mar 6, 2012 By: vvaannmmaann Member since: Nov 6, 2007
    #18
  19. bdw

    bdw Banned

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    You are right. Look what's happening at Glasgow Rangers, a club that 20 years ago was arguably as rich and powerful as Man U.


    .
     
    Posted: Mar 6, 2012 By: bdw Member since: Aug 13, 2008
    #19
  20. captaincloser

    captaincloser Banned

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    Wiki. Yes it would all be on there:rolleyes:
     
    Posted: Mar 6, 2012 By: captaincloser Member since: Mar 20, 2010
    #20
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