The full extent of Chris Moore’s (pictured) reign of terror can now be revealed as the club have revealed that their losses trebled to almost £3million a year during his time at Boundary Park. The main reason for the losses were the large playing contracts which Mr. Moore initiated. The existing contracted players are still earning an average weekly wage of over £1,400, excluding pension contributions, and appearance money this season is set at £230 per man per match.The end of Oldham Athletic
The full extent of Chris Moore’s (pictured) reign of terror can now be revealed as the club have revealed that their losses trebled to almost £3million a year during his time at Boundary Park. The main reason for the losses were the large playing contracts which Mr. Moore initiated. The existing contracted players are still earning an average weekly wage of over £1,400, excluding pension contributions, and appearance money this season is set at £230 per man per match.PFK, the administrators working at Boundary Park, admit that the Latics are “manifestly insolvent” even though Mr. Moore wrote off loans of over £4 million. If Athletic survive the next few weeks and a new company is formed it would still mean an end to the name of Oldham Athletic as any new club would have to operate under a new name.
Finding investors will not be an easy task as assumptions for the next three years would include:
An average home crowd of 5,800;
Athletic will be knocked out of every cup competition in the first round;
Athletic will stay at Boundary Park with a rent of £20,000 per month;
Bonuses for players and coaching staff will total around £70,000 each season;
New players player signed after this season will earn £500 per week or less.
The new company will be able to renegotiate wages, appearance money and bonuses but the players and the PFA would have to agree. The new company would also have to pay bills on a monthly basis to avoid debts mounting.
Another major decision would be whether to honour existing season tickets. Common sense suggests that they should be honoured but since when did common sense enter our beautiful game?
Athletic’s first target will be to raise £500,000 by Monday and then they need to find another £700,000 to satisfy the football creditors. Other creditors will lose out whatever happens. It would be interesting to find out about the famous ‘black hole’ which accounted for the loss of substantial funds including the ‘Sponsor a Seat’ money so generously donated by many Latics fans.
It’s time for football to take stock. Athletic are just the tip of the iceberg and should they go under just watch the domino effect which will begin. Banks are currently afraid of being the ‘first one’ to close a football club but should Oldham be the first, the other clubs in danger should start to sweat. It will be an interesting few weeks!