Oyston Mill | Vital Football

Oyston Mill

If an estate agent can't even sell their own property or set a realistic reserve at auction??????? :nope: :dunno:
 
It is an absolute dump and I think I had read somewhere that they had previously marketed it at £900k? but with no takers. In the trial evidence it was even described as rubbish by Owen Oyston. Even with recent planning permission to convert to student flats it has limited value, especially with major conversion costs. They had set the starting price for bids at £2.9m and I understand the reserve was a bit higher. The best bid they got was £1.2m and I am surprised they got that taking into account their current circumstances. I also wonder if they had to get permission to continue to hold the auction bearing in mind the court asset freeze?
 
Dave - the judge didn't actually draw on any of the club valuations. The rationale behind the figure he awarded was the amounts he considered the Os had improperly taken out of the club plus the return of VB's original investment. With costs, any interest for staggered payment beyond 28 days and the Manchester judgement the total could be over £37m
 
bfcpete - 8/11/2017 20:10

Dave - the judge didn't actually draw on any of the club valuations. The rationale behind the figure he awarded was the amounts he considered the Os had improperly taken out of the club plus the return of VB's original investment. With costs, any interest for staggered payment beyond 28 days and the Manchester judgement the total could be over £37m
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I think the the club incl ground, Squires Gate and the hotel are about £37m - happy coincidence?
 
Ah I thought as the judge said VB should be considered 50% owner of club the Os have to buy his shares then x2 = value of club
 
Dave - he did but he took the view that on the basis of the 50% equity VB was entitled to the same level of "dividends" that the Os had taken out of BFC for their own purposes. He totalled those payments to nearly £27m and then added the original investment of £4.5m by VB to make the £31.3m as the value of the buy out and compensation. That avoided him having the complexities of selecting a method to actually value the club at a particular point of time or in the future and it is fully transparent because it is based on the actual payments that the Os paid themselves. Simple but very clever really and one that caught everyone out. :grins:
I was also interested in the alternative that the judge looked at which would have cost the Os about £18m. That involved OO and VB having having 49% and 48% respectively and the minor shareholders 3%. OO and VB could select 3 board members each but KO would be excluded from being one. The minor shareholders would select one board member who would be chairman. An eigth board member would be selected jointly by OO and VB and if they couldn't agree would beselected by the minor shareholders. The judge moved away from this option because he did not want to force two unwillng partners to work together if they didn't want to and also because VB had been banned by the EFL, although that may be reviewed when they look at the judgment on the 18 November
 
Thanks Pete.
Is that the date when the EFL are looking at the case?
I guess the next milestone for us hanging on to VB coming in is that the EFL review the decision to disqualify him holding high office.
 
I loved the idea of VB 48% plus minority shares 3% as this would I guess have seen the O's lose control
 
Dave - the EFL have said they are already looking at the judgement and are taking a report to their next board meeting on the 18th. What is in that report, whether they have talked to both parties and whether it prompts them into any action is a unknown. I think they will be severely criticised if they don't do something about the Os and also VB after the comments by the judge on the latter on Monday
 
VB deliberately didn't appeal FL ban ahead of judgement so judge couldn't select partnership option. Believe he is taking legal counsel on how best to appeal in a manner that then enables him to take the club on. Best thing about the FL ban is that it was the Oystons who reported him!
He'll have the club before the year is out I reckon.
 
What would the actual valuation of the club (+stadium + training ground) be now? Anyone have a reasonable idea?

Wolves got bought for £45m last year, but given their a championship club I'd have thought we'd be significantly less?
 
inside_man - 9/11/2017 12:50

What would the actual valuation of the club (+stadium + training ground) be now? Anyone have a reasonable idea?

Wolves got bought for £45m last year, but given their a championship club I'd have thought we'd be significantly less?
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That estimate must include the ground. Hotel? Squires Gate?
 
Got to be surely.

Wolves dropped out of the Prem the year after us. They are having their best season yet and spent big.

IF VB does get the gig, interesting to see if he gives another Premiership in.......years out :grins:
 
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