[Football] Potter masterpiece Östersunds FK on the brink of bankruptcy

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Swansman

Pro-peace
May 13, 2019
22,320
Sweden
Background story:

ÖFK was created in 1996 through the merge of several clubs in Östersund. A few years later, former army man Daniel Kindberg got very involved in the club, giving it an "English profile". Lots of clubs in northern Sweden do this as there is an abundance of well-paid work opportunities, so you can work half time at one of those jobs and half time has a footballer and make more money than you would in i.e. League 2.

After taking over as chairman in 2010, Kindberg started to invest in the club as well as finding external investors. After getting relegated to the fourth tier at the end of the 2010 season, Kindberg called his friend Graeme Jones at Swansea raging about how useless all managers are.

"Its your fault for picking the wrong ones", Jones said.
"Well, who should I pick then?"

Graeme Jones knew a guy who had been lurking at Martinez training sessions in Swansea. That guy was Graham Potter.

Things started to go really well but chairman Kindberg thought it could move even quicker. As he was also the chairman of Östersundshem (the communal accomodation company), he seemingly paid for "fake" jobs to a man in the construction business who was also sponsoring ÖFK.

Eh... this is messy, but in short, Kindberg supposedly moved money (about £1m) from the city owned Östersundshem to Östersunds FK, and is currently on trial for this.

Since Potter leaving and the Kindberg investigation starting last year, Östersund has been crumbling. Their Europa League adventure made the club naive and they have been living way above what they can afford. This season they signed a lot of players who has unfortunately all been shit, so they havent been able to sell any players, which is needed for them to survive.

The trial against Daniel Kindberg continues, the results in Allsvenskan remains bad (placed in the relegation playoff spot atm), the board of the club said two days ago "we need 10 miljoner kronor (£0,8m) in 10 days or its over" and it seems the (former) masterpiece Potter spent 8 years of his life creating might go into bankruptcy, though there is still some hope.

£0,8m might not sound much but a top tier club in northern Sweden normally wont have a turnover above ~£4m (unless years when you play in the EL), so its a lot of money to them.

Personally, I dont really care, but sort of sad for Potter who invested so much time and effort in ÖFK and now is getting to hear the news that everything is falling apart.

Former chairman (and "strong man") Daniel Kindberg is guilty as **** and wont be able to help out, and even if the club would survive, they are very likely going to have to pay £4m to Huesca in Spain because of weird shit regarding Saman Ghoddos failed transfer to the club.. but now we're on detail level.

TLDR: Östersunds FK, the club Potter took from the Swedish fourth tier to Europa League, will likely fold unless they find £0,8m in 10 days. They also have a shitload of other problems and I feel a bit sad for GP who loved both the city and the club.

Bonus: GP:s first day at work in ÖFK (January 2011):
 








Postman Pat

Well-known member
Jul 24, 2007
6,973
Coldean
I hope not.

Strange comment, why? Not as if the RSG investment has had any impact on spending, or his focus, and if they are successful it could be a decent opportunity for some of our younger players to get exposure in a foreign league and potentially European football.

I don't have any idea of TB's wealth, but I suspect 0.8m isn't going to make a significant dent in his bank balance.
 






GT49er

Well-known member
NSC Patron
Feb 1, 2009
49,192
Gloucester
Strange comment, why? Not as if the RSG investment has had any impact on spending, or his focus, and if they are successful it could be a decent opportunity for some of our younger players to get exposure in a foreign league and potentially European football.

I don't have any idea of TB's wealth, but I suspect 0.8m isn't going to make a significant dent in his bank balance.

As you say, £0.8M isn't a huge sum to TB - but £0.8M merely clears an immediate debt, it doesn't buy the club. I don't know how much more would be needed for that - plus there's the consideration that if, as it appears, the club has been run by a crook who has been syphoning off money from elsewhere to finance the club there night well be a whole lot of other dodgy debts to be cleared.
Obviously if Uncle Tony is interested, his financial experts will be all over it, digging out and evaluating every detail. That's up to him, of course, but my guess is that £0.8M is the tip of the iceberg.
 


Thunder Bolt

Silly old bat
Strange comment, why? Not as if the RSG investment has had any impact on spending, or his focus, and if they are successful it could be a decent opportunity for some of our younger players to get exposure in a foreign league and potentially European football.

I don't have any idea of TB's wealth, but I suspect 0.8m isn't going to make a significant dent in his bank balance.

According to the information the club has handled its finances very badly, and overspent on mediocre players who cannot be sold.
Why would any shrewd investor want to throw good money after bad?
The only connection Tony Bloom has with them is our present manager, who himself has moved on.
 


NooBHA

Well-known member
Jan 13, 2015
8,592
According to the information the club has handled its finances very badly, and overspent on mediocre players who cannot be sold.
Why would any shrewd investor want to throw good money after bad?
The only connection Tony Bloom has with them is our present manager, who himself has moved on.

All true - It would be like setting up a team in the Outer Hebridies. Building a stadium there. Moving up through the Scottish Leagues and into the CL. Its still cold and wet most of the year and more suited to igloos and woolly jumpers and bobble hats
 




Swansman

Pro-peace
May 13, 2019
22,320
Sweden
As you say, £0.8M isn't a huge sum to TB - but £0.8M merely clears an immediate debt, it doesn't buy the club. I don't know how much more would be needed for that - plus there's the consideration that if, as it appears, the club has been run by a crook who has been syphoning off money from elsewhere to finance the club there night well be a whole lot of other dodgy debts to be cleared.
Obviously if Uncle Tony is interested, his financial experts will be all over it, digging out and evaluating every detail. That's up to him, of course, but my guess is that £0.8M is the tip of the iceberg.

You cant buy a club in Sweden, the members of the club must have at least 51% of the votes so no individual could buy and control it. Sure if Tony would buy 49% of the club he would get lots of influence and no-one would oppose it, but technically speaking the members of the club could remove him from having any actual power.
 


Icy Gull

Back on the rollercoaster
Jul 5, 2003
72,015
You cant buy a club in Sweden, the members of the club must have at least 51% of the votes so no individual could buy and control it. Sure if Tony would buy 49% of the club he would get lots of influence and no-one would oppose it, but technically speaking the members of the club could remove him from having any actual power.

Any deal is dead in the water then. TB seems like a guy who wants total control if he is funding, can’t fault that.
 


Swansman

Pro-peace
May 13, 2019
22,320
Sweden
Any deal is dead in the water then. TB seems like a guy who wants total control if he is funding, can’t fault that.

Yeah we have no foreign investors and the Swedes who invest are generally expecting nothing in return. There will never be some Saudi prince investing millions of pounds here. Sure, that means we cant really compete, but about every football fan here thinks that sacrifice is worth doing as long as the members control the clubs.
 




Perkino

Well-known member
Dec 11, 2009
6,053
I'm still awaiting the USG impact on BHAFC. I'd imagine that Bloom thought is was a good opportunity to dip into an extra market so maybe a sweedish side could be added to his collection
 


NooBHA

Well-known member
Jan 13, 2015
8,592
You cant buy a club in Sweden, the members of the club must have at least 51% of the votes so no individual could buy and control it. Sure if Tony would buy 49% of the club he would get lots of influence and no-one would oppose it, but technically speaking the members of the club could remove him from having any actual power.

'' Yeah Right ''

Have you not seen what happened with FIFA - You just buy the ''Members'' off with a few Rolex Watches and several weeks away in ''Seedy Bordello''
 


Swansman

Pro-peace
May 13, 2019
22,320
Sweden
'' Yeah Right ''

Have you not seen what happened with FIFA - You just buy the ''Members'' off with a few Rolex Watches and several weeks away in ''Seedy Bordello''

I dont really understand this weird comparison tbh

You mean Tony would buy Rolex watches to 2000-3000 ÖFK members?
 




NooBHA

Well-known member
Jan 13, 2015
8,592
I dont really understand this weird comparison tbh

You mean Tony would buy Rolex watches to 2000-3000 ÖFK members?

You haven't read the Brexit thread have you ?

If he had 49% shares - He would only need to buy Rolex Watches for 2% of them. Then he has 51% - And when you have 51% ''on your side'' - Leave means Leave '' Apparently'' Really couldn't resist the analogy
 


Swansman

Pro-peace
May 13, 2019
22,320
Sweden
You haven't read the Brexit thread have you ?

God no, had a quick look once or twice and came to the conclusion that the best solution would be to place a big fat bomb beneath the UK and let it all sink.
 


God no, had a quick look once or twice and came to the conclusion that the best solution would be to place a big fat bomb beneath the UK and let it all sink.
This post will already have been perused over at Cheltenham (I'm talking about the UK's security /information centre).
Just a word of advice to anybody advocating terrorist activity, whether on NSC or elsewhere, in jest or otherwise:


Don't.
 


Swansman

Pro-peace
May 13, 2019
22,320
Sweden
This post will already have been perused over at Cheltenham (I'm talking about the UK's security /information centre).
Just a word of advice to anybody advocating terrorist activity, whether on NSC or elsewhere, in jest or otherwise:


Don't.

Yeah didnt think about how deep into the Orwellian shit you are...

Well, probably wont take them many minutes to find out I cant even find a fitting light bulb for my lamp and would make a very inadequate terrorist.
 




D

Deleted member 2719

Guest
You haven't read the Brexit thread have you ?

If he had 49% shares - He would only need to buy Rolex Watches for 2% of them. Then he has 51% - And when you have 51% ''on your side'' - Leave means Leave '' Apparently'' Really couldn't resist the analogy

52% actually.

:hilton::bigwave:
 


SeagullinExile

Well-known member
Sep 10, 2010
6,199
London
This post will already have been perused over at Cheltenham (I'm talking about the UK's security /information centre).
Just a word of advice to anybody advocating terrorist activity, whether on NSC or elsewhere, in jest or otherwise:


Don't.

Hehe...even GCHQ would read that how its meant.

With respect...your being a bit of a knob.
 


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