Latics hit by pension bombshell

Chairman of Oldham Athletic F.C. Simon Corney meets some of the fans to discuss issues.

ATHLETIC have been hit with a financial bombshell which is projected to cost the club almost £100,000 a year — for the next SEVEN years.

A revaluation of the deficit in the Football League Pension and Life Assurance Scheme means the amount the club have been asked to contribute has more than doubled from the current amount, set back in 2009.

While most others also contribute, it is understood that no club in npower League One is being asked to shell out more than Athletic.

Already having the effect of wiping out a large portion of the season ticket funds collected for 2012-13 so far — which, as it stands, is already down £130,000 on last season's total despite numbers sold rising as a result of the £10 scheme for under-16s — the issue has left club chairman Simon Corney fuming.

"We got a letter from the Football League informing us that Oldham Athletic have to make a contribution of £100,000 a year to a pension deficit scheme," said the chairman.

"When (chief executive) Neil Joy told me about it, it knocked the wind out of me. It represents a quarter of our season ticket money.

"It is paying a fund set up to include previous managers — and, incredibly, it also includes past staff and directors. I really don't understand it."

The scheme dates back to 1977 and the original deficit was discovered in 1999, when the final salary section was closed as a result.

Since then, the amount that clubs have been asked to contribute on each revaluation has varied according to both how much they owe and the scheme's performance. While Athletic paid out £8,400 in 2001, the figure has been as low as £2,300 in 2006.

As it stands, Athletic must shell out £7,600 every month for the next seven years, after which the amount paid drops to £4,500 a month. Between 2009 and the present, the club had been paying £3,600 per month.



*In other news, Athletic manager Paul Dickov is set to take his squad out to Portugal in mid-July for a six-day training camp designed to ready the players for the new campaign as well as providing useful binding time.

The cost of the trip will be deducted from the playing budget.



*Dickov believes the deal which will take out of contract right-back Kieran Lee to Sheffield Wednesday is "done and dusted".

Though the player is currently away on holiday, it is thought he may have signed for the newly-promoted Owls before he left.



*OLDHAM Athletic, Trust Oldham and Oldham Athletic Community Trust have organised a meeting at Boundary Park tomorrow for volunteers who have offered to help give Laticsi ground a summer makeover.

The meeting will be held in the Corner Flag Suite at 6.30pm. There is no need to register, simply turn up to find out more.



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