What is The 1895 Fund?
The aim of the fund is to raise a substantial sum of money, which will enable us to act in the best interests of the town and the club, in case of potential future scenarios, as laid out below.
The Fund is a collaboration between OASF, PTB and the wider fan base, who are working together to ensure that the views and considerations of as many fans as possible are acknowledged ahead of the funds official roll out. This document is an outline of what both organisations agree could potentially be a suitable way forward, but please be aware that as fans you will be consulted before any final decisions are made. Your involvement in this process is absolutely vital.
Supporters should feel assured that collectively, we feel that we have thought about all possible concerns and eventualities, but appreciate that you may have additional questions, queries, ideas or concerns, which we warmly welcome. In the proposal below, we will attempt to outline the benefits of the fund as well as allay any potential concerns.
To date, we have sought professional financial advice on how to constitute the 1895 Fund and asked relevant questions regarding it’s uses and withdrawal mechanisms.
If you do have any questions or comments, please contact us here or via the website.
What could the 1895 Fund be used for?
We propose that the 1895 Fund would only be utilised in one or more of the following scenarios:
To purchase a controlling stake in the football club - funds will therefore not be released to purchase anything less than a 51% share hold of Oldham Athletic Football Club
To purchase the club outright - as a single entity or part of a consortium
Purchase of the stadium and surrounding land
Administration costs - in the event of the club entering administration, funding could be made available to stave off liquidation
Associated costs directly related to the acquisition of or in preparation of the above
How is the 1895 Fund ring-fenced within OASF prior to use?
The fund will operate as an OASF bank account but any transactions will require the signature of one of the four founding members of PTB, an OASF director and an external (impartial) professional. These will be known as the “1895 Fund Committee”.
How will the fund be managed – what is its make up?
The fund will sit in a separate bank account from OASF’s main account, OASF & PTB will have an equal say on how the fund is best managed through their representative on the 1895 Fund committee. It will be the intention of all parties to act in the best interests of both Oldham Athletic Football Club and it’s supporters.
Who are the 1895 Fund committee?
Having taken financial advice on the subject, the committee is to be made up of a minimum of three people. At this stage, we propose the three committee members would consist of the following:
1 OASF Director
1 PTB signatory
1 external impartial signatory (Ideally of a legal profession)
All three will be required to sign for withdrawals. While this may seem prohibitive, withdrawals will not be frequent due to the withdrawal conditions laid out earlier in this document.
How will the 1895 Contingency Fund be managed?
The 1895 Fund committee will report back to the OASF board with monthly account updates. These will be reported in published OASF meeting notes and the totaliser will be updated on the OASF website.
How will a decision be made to access the fund?
Initially, any funds released will be discussed between the OASF board, PTB and the 1895 Fund committee. If any decision to release funds was reached, an OASF EGM would be called and a member vote taken.
Will the money be used to fund the club under the current ownership?
Under no circumstances will the Contingency Fund be made available to, or utilised by the current custodians of Oldham Athletic Football Club.
Can I support in any other way?
Yes. The 1895 Lottery is a separate fundraising initiative, and this can be accessed via our website.
Will OASF research additional funding?
We’ve already made a start on identifying alternative funding streams and we will be appealing for and utilising the help of OASF volunteers to move this forward.
What other funding are you considering?
Leave a Latics legacy in your will, merchandise, events and other plans are in the pipeline and further details will be released in due course.
We would like to say thank you to the FSA, Push the Boundary and independent fans Mark Airey and Dave Ogden (financial compliance and governance specialist) for their observations and input into this proposal.
Please email firstname.lastname@example.org with any questions, concerns or suggestions.
Be part of the change. We are OAFC.