Selling Oxford by the pound

From the Rage Online newsdesk Wednesday, October 29th, 2003  

Firoz Kassam’s pronouncement on Radio Oxford last week that he was prepared to sell his Oxford-based businesses should have come as no surprise. He has often stated that if he had known what a millstone he had taken on by buying the club then he wouldn’t have done it, with the implication that if he could recoup his investment by selling up then he would do so. The amount of ?50-?60 million quoted in the interview was presumably a ballpark figure, encompassing the club, the stadium and conference centre, the hotel and the O-Zone leisure complex. In a later interview Kassam said that for Oxford United itself he would accept what he paid for it, namely one pound sterling.

It is this latter amount that has been latched onto by the press and others as though it had anything other than a purely symbolic status. There is no real reason for this sum to have become such a significant factor, as no-one would realistically buy the club, taking on its debts and operating losses, without negotiating to purchase at least the stadium if not the other ancillary activities as well.

In fact, there has not really been anything new said by Kassam in any of his interviews, other than iterating what has always been the case. In an attempt to make Kassam’s comments more interesting Jim Rosenthal was invited to give his opinion, being as he was interested in buying the club from Kassam shortly after the hotelier took over. However not even Rosenthal was able to make this into a newsworthy story, simply stating that he was watching the situation closely. Again, this has probably always been the case.

So, what are we to make of all this? Certainly the timing of Kassam’s comments could have been better. This could be a vital season for United, with the alternative to promotion being a possibly lengthy stay in the basement division and any uncertainty or instability could lead to the promotion push being derailed. A lot of people have picked up on Kassam’s statement that he doesn’t have the trust of the local authorities or the fans.

Of the former there can be little surprise, with some of the original planning conditions on the building of the stadium still to be implemented. Of the latter there has been more consternation. Many fans have come round to Kassam’s way of thinking, realising the common sense business model is the way ahead for a sustainable future. While, in itself, trust is not an easy thing to earn, especially for a football club chairman at a place where supporters in the past have had to suffer Robert and Kevin Maxwell, Keith Cox and Tim Midgeley, Kassam had probably the closest thing to it from a majority of supporters – respect. Unfortunately his latest statements could well have blown a lot of that respect out of the water.

Here at Rage Online we are neither pro- nor anti-Kassam, neither pro- nor anti-the Gang of Four. We are pro-OUFC. Whoever is in charge of the club the most important thing is the future of the football club itself and whether that’s Firoz Kassam, Jim Rosenthal and chums, or a supporters collective, we support whoever has the wherewithal and commitment for a long-term vision for United’s survival and prosperity. If Kassam does sell then the most important thing is to ensure that he sells it to someone who shares that vision.


This entry was posted on Wednesday, October 29th, 2003 at 12:00 am and appears under Comment.

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