Winding Up Petition For Orient? | PASOTI
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Winding Up Petition For Orient?

Oct 11, 2014
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As I just posted on another forum, here is the reality

Becchetti has reportedly loaned the club 11m in total. Administration will only fetch a 3.8million return at most if it sells. So he will be looking for 4m+ to sell. Add on account debts to other creditors on top, and you could probably see why a buyer wont go in. The Youth set up has also been left to deteriorate, which at a club like Orient is what keeps the £££ rolling in from selling up and coming players. So a new owner would need to pay a total of 10m plus to buy the club, clear the debt and investment into those areas which will make money.

Have a read of Sitton's autobiography (even if you like or hate him). Seems like history repeating itself and that he was right in regards to the YTS and centre of excellence, and how important it was to Orient in regards to turning over enough cash to keep it in the black 22 years ago

Becchetti has two choices. File for administration and take what he can get, or let the club get liquidated.

More likely to sell under Admin, as a new owner can spread the cost and pay less.
 

Pogleswoody

R.I.P
Jul 3, 2006
20,748
4,410
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Location Location
I lived in Ilford/Barking for many years and occasionally went to see the O's. Like Palace and Watford (both now Prem!! :think: ) they always had a plethora of 'yoof' players coming through. Often from the local Black community. (Barnes, Blissett, Hilaire, Rocastle etc. (was he Palace and/or Arsenal? or both? Maybe I've got my names confused?) ) that I remember seeing early in their careers.
Unless you have 'real' money it is madness to neglect the young talent coming through locally. Esp if you are Div 2 in London, close to the Hammers, Charlton and all the 'big clubs'. If Orient have not nurtured their youth development then they are in real trouble.

Real shame but always had a soft spot for them until Ballboygate!!
 

Forest of Dean Green

✅ Evergreen
Mar 5, 2009
3,289
2,299
Gloucestershire
A couple of my very good friends are Orient fans. Father and son who have spent many watching them together, with grandson now in tow. Park the ball boy incident. This is an historic club in trouble. We should have TONS of empathy with that. A madman owner who appears to be prepared to chuck the club on the pyre to spite the fans. Our heart should go out to them. Anyone who grows up supporting an Orient or a Brentford in a city full of glamorous options is a good egg by me. And, like us, they have an unusual name and I was anyway drawn to that as a youngster. The club didn't push a ball boy. A stupid man did. Fans united.
 

Pogleswoody

R.I.P
Jul 3, 2006
20,748
4,410
72
Location Location
Forest of Dean Green":h1ihrmk4 said:
A couple of my very good friends are Orient fans. Father and son who have spent many watching them together, with grandson now in tow. Park the ball boy incident. This is an historic club in trouble. We should have TONS of empathy with that. A madman owner who appears to be prepared to chuck the club on the pyre to spite the fans. Our heart should go out to them. Anyone who grows up supporting an Orient or a Brentford in a city full of glamorous options is a good egg by me. And, like us, they have an unusual name and I was anyway drawn to that as a youngster. The club didn't push a ball boy. A stupid man did. Fans united.

Yeah Amen to that Forest.

There but for the Grace of Brent ... :nworthy:
 
Dec 22, 2016
53
0
Barnstaple
Thing is though, last season on some of the other forums I go on, their fans were giving it the big one, saying how they were going to pee this league with their £10k a week players. They've offloaded them now, but they shouldn't have been paying that even in league 1. Whatever happened to financial fair play? I don't have a lot of sympathy for them.
 

Cobi Budge

Auction Winner 👨‍⚖️
Apr 8, 2011
13,417
12,012
27
Plymouth
I'd usually have sympathy for a club in distress considering what we went through, but on this occasion I'm not sure how anyone can have any sympathy with Orient when they defended one of their employees assaulting one of ours, and needlessly brought up Luke in the process, huge lack of class.