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Old 02-11-2009, 14:27   #12
expatriate
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Re: 'red letter ?'.. Mark 2 !

good afternoon.

Ilyas here. I realise that the club will probably not provide an update to the fans and the community at large. This is disgraceful in my view, and only one of many things that have been done, and continue to be done that are outside the pale.

before i post my update, please remember i am neither a director or an office holder at the club. I will focus only on facts, and if there is guesswork involved or second hand information, i will say so.

this is NOT a positive update, so prepare yourselves accordingly.

firstly, as of right now, £206,000 has been sent to HMRC. The balance of the money was meant to be from the PFA (on weds last week oneil told the court that the pfa money was "in the bank" and would be remitted in the next few hours). As of 3.20pm this money has not turned up. I do not believe it will arrive today.

Additionally, not one penny has come from the directors' contribution. As you recall this was meant to be for £100,000. I can confirm that nothing has come through. Oneil has contributed not one penny, unless he has sent it secretly to the tax authorities.

Also, the player's wages are not paid. this means the club has to come up with £150,000 in the next couple of days.

Also, I am now aware that no League money is to come in. Apparently the league money was used to repay the original PFA money, which in turn means that players wages for a few months were paid not by the club but by the PFA, which in turn begs the question "what happened to all that cashflow from operations if not to pay for wages". there is also the small matter of what happened to the oxford professor and ASSF loan that we had originally heard had been used for "tax payments" and when that turned out not to be true we were told it was for "operational purposes".

On a related matter, I can now confirm that oneil is not the owner of any shares. not one single share. how on earth he managed to persuade people that he is a majority owner, and signs off on the programme as "owner" is something that will be added to the list of things to be investigated.

I know most of you will be focused on the big question of "what next". Peter and i had promised the court to uphold the shortfall of £110,000. We have fulfilled that commitment. It turns out that the shortfall was much much greater. I can at least confirm that Rob Heys has been helpful and clear today. I have seen correspondence with the PFA which leads me to believe that some amount might come in at some time, but I do not know when that "sometime" might be.

I am keeping this message short and to the point. I am fuming, I am angry, and I am ashamed at the way the directors are treating this club and its supporters and fans, and the community at large. Given everything that has gone on, I believe that a forensic analysis of the accounts is the least that needs to be done, and i promise you all that i will not leave this matter un-resolved.

I also promise to come back tonight with another update. For now I have asked heys to let me know what oneil proposes to do about the new "shortfall".
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