OCYS Consolidated Thread

[Unregistered]

I wish HM would pump my beef.

The things people dream about. Maybe you should keep those thoughts to yourself. Just saying.

[Unregistered]

No, actually your not, and see it doesn't matter how many times people point to the facts you still won't listen to anyone but your purple master. You just want people to believe you know what you are talking about to try to discredit FKK. Sorry, you haven't a clue.

OK, I'm sick of seeing arguments about the $100,000. You do realize that this information is publicly available on the internet at no cost, don't you? It took me about 15 minutes to find it.

The merger was effective June 1, 2012. CFK's tax year was June 1 - May 31, so the merger was effective at the end of their tax year. CFK received over $100,000 as part of a merger with "another local club." This balance was required to zero out CFK's net asset balance - so prior to the $100,000 they had a negative net asset balance, meaning their total liabilities exceeded their total assets. CFK had no assets other than cash (no receivables) at the end of their tax years ended 5/31/09, 5/31,10, or 5/31/11. The public data doesn't show any asset or liability balances on 5/31/12 because they were absorbed in the merger, but it doesn't seem like they would have any receivables in 2012 if they didn't have them in the previous three years. Even if they did, they were less than the total liabilities.

Can we please stop arguing over this?

[Unregistered]

additionally, I think the "$100k" figure is Bull--it. nobody has offered anything but Phil's memo as evidence to back it up. But it sure sounded good to the OC faithful, so $100k it is, Mates.

You are right, the $100,000 number is incorrect (those evil Englishmen!)

The correct number is $107,161.

Mate.

[Unregistered]

You are right, the $100,000 number is incorrect (those evil Englishmen!)

The correct number is $107,161.

Mate.

What's the big deal here. OC paid 100K+ for many players and ECNL. Now that there is a deal. Unfortunate for them that they lost all the top female players after a year, but they will be able to keep ECNL for one more year. I would say OC still benefited more from the merger.

[Unregistered]

I wish HM would pump my beef.

^^ this is a teenage boy getting his jollies on TS.

[Unregistered]

OK, I'm sick of seeing arguments about the $100,000. You do realize that this information is publicly available on the internet at no cost, don't you? It took me about 15 minutes to find it.

The merger was effective June 1, 2012. CFK's tax year was June 1 - May 31, so the merger was effective at the end of their tax year. CFK received over $100,000 as part of a merger with "another local club." This balance was required to zero out CFK's net asset balance - so prior to the $100,000 they had a negative net asset balance, meaning their total liabilities exceeded their total assets. CFK had no assets other than cash (no receivables) at the end of their tax years ended 5/31/09, 5/31,10, or 5/31/11. The public data doesn't show any asset or liability balances on 5/31/12 because they were absorbed in the merger, but it doesn't seem like they would have any receivables in 2012 if they didn't have them in the previous three years. Even if they did, they were less than the total liabilities.

Can we please stop arguing over this?

Speaking of assets-

-1200 players
-ECNL
-Best coaches in Orlando

(forgot about those, didn't ya, Mate?)

[Unregistered]

GB organized a semi secret trial using U12 parents as scouts in order to recruit more 2002 from all over the state, I guess having a u12 purple team full of 2002s plus two U11 purple teams full of 2002s was not enough. Or maybe he was trying to get back at CM for excluding his team last year. In any case it sure looked like they were trying to keep all the U11 purple 2002s from trying out. Some how the word got out and one of the u11 purple teams was allowed to try out.

Big slap in the face of all the U11 purple team players especially the second U11 purple team which has some very good players. In fact the second U11 purple is going to the regional finals while the top purple was eliminated.

Real class act.

WOW!!! really GB didn't organize anything, and the tryouts were not secret!!! The Parents were the ones who organized the tryout and CM was there with his U11 team I might add. Get you're facts straight, but why do you this is TS!.

In fact the second purple U11 team going to regional finals has nothing to do with the Danone Cup, oh wait it does if you're an U11 Second Pur Parent now doesn't it.....

Want to blame someone find some parents to blame,, and no this isn't GB, it's someone on the outside looking in....

[Unregistered]

What's the big deal here. OC paid 100K+ for many players and ECNL. Now that there is a deal. Unfortunate for them that they lost all the top female players after a year, but they will be able to keep ECNL for one more year. I would say OC still benefited more from the merger.

I didn't say it was a big deal. I'm tired of seeing people argue over whether OCYS had to pay anything as part of the merger. The evidence is available if you are willing to look for it, so let's just move on to the next subject. I'm assuming that OCYS had full knowledge of the financial condition of CFK when they agreed to the merger, because they would have most likely filed a lawsuit against someone if this was hidden (and they would have been justified in doing so.) OCYS obviously thought it was worth the money, otherwise they wouldn't have done it.

[Unregistered]

Speaking of assets-

-1200 players
-ECNL
-Best coaches in Orlando

(forgot about those, didn't ya, Mate?)

No, I didn't forget about those. Those aren't listed on CFK's public financial reports, because they aren't assets. The players represent potential future revenues, and CFK would have had to incur expenses in order to earn those revenues (and OCYS did incur expenses to earn those revenues). They are not assets. It is absurd to say, "Well, those players would have paid us $900,000 next year, so we should include that as an asset, but forget about the $1,000,000 of expenses that we would have incurred to earn those player fees." ECNL is a league that CFK was a member of - not an asset. The "Best coaches in Orlando" have to be paid to perform their services - not an asset.

I'm not saying that OCYS didn't benefit from the merger, or whether the $100,000 was a good deal or a bad deal. They gained access to additional players, ECNL, and coaches. No one is disputing that. OCYS thought it was worth the money. My post was specifically about whether OCYS paid $100,000 as a part of the merger, because I'm tired of seeing the "Yes, they did!" "No, they didn't!" arguments.

[Unregistered]

Soon as Beckham opens Miami franchise OCYS will go to sh--

Best players will stay in Miami and That franchises DA academy will run circles around this one w/ regards to how professionally it's run.

[Unregistered]

I didn't say it was a big deal. I'm tired of seeing people argue over whether OCYS had to pay anything as part of the merger. The evidence is available if you are willing to look for it, so let's just move on to the next subject. I'm assuming that OCYS had full knowledge of the financial condition of CFK when they agreed to the merger, because they would have most likely filed a lawsuit against someone if this was hidden (and they would have been justified in doing so.) OCYS obviously thought it was worth the money, otherwise they wouldn't have done it.

True, their own press release says that they added 1700 kids from CFK. That equates to a lot of money for the club, so $100,000 is a drop in the bucket.

[Unregistered]

No, I didn't forget about those. Those aren't listed on CFK's public financial reports, because they aren't assets. The players represent potential future revenues, and CFK would have had to incur expenses in order to earn those revenues (and OCYS did incur expenses to earn those revenues). They are not assets. It is absurd to say, "Well, those players would have paid us $900,000 next year, so we should include that as an asset, but forget about the $1,000,000 of expenses that we would have incurred to earn those player fees." ECNL is a league that CFK was a member of - not an asset. The "Best coaches in Orlando" have to be paid to perform their services - not an asset.

I'm not saying that OCYS didn't benefit from the merger, or whether the $100,000 was a good deal or a bad deal. They gained access to additional players, ECNL, and coaches. No one is disputing that. OCYS thought it was worth the money. My post was specifically about whether OCYS paid $100,000 as a part of the merger, because I'm tired of seeing the "Yes, they did!" "No, they didn't!" arguments.

I can see where you're coming from- the "green eye shade" perspective.

If players, the league affiliation and the coaching staff were not considered "assets" by Phil and Co. (though not assets on the balance sheet), then there would have been no acquisition of CFK. Businessmen have to take other things into consideration- maybe you would have booked it as "goodwill", or ignored these factors altogether- I can't say. but I GUARANTEE Phil saw these things as assets, just as he looked at FSA and saw "fields".

Bottom line is- all this feigned "surprise" from OC about $100k liability from CFK and how they were forced to "bail them out" is a bunch of baloney. As you correctly point out, they made the deal, they liked the deal, they signed the deal.

[Unregistered]

Soon as Beckham opens Miami franchise OCYS will go to sh--

Best players will stay in Miami and That franchises DA academy will run circles around this one w/ regards to how professionally it's run.

Really, so you already know who is going to be running the DA academy for a club that hasn't even started up yet. We need to get you a job at the fair. Do we really think that they need three DA clubs in Miami.

[Unregistered]

I can see where you're coming from- the "green eye shade" perspective.

If players, the league affiliation and the coaching staff were not considered "assets" by Phil and Co. (though not assets on the balance sheet), then there would have been no acquisition of CFK. Businessmen have to take other things into consideration- maybe you would have booked it as "goodwill", or ignored these factors altogether- I can't say. but I GUARANTEE Phil saw these things as assets, just as he looked at FSA and saw "fields".

Bottom line is- all this feigned "surprise" from OC about $100k liability from CFK and how they were forced to "bail them out" is a bunch of baloney. As you correctly point out, they made the deal, they liked the deal, they signed the deal.

The memo that originally mentioned the $100,000 didn't present it as something that was a surprise. It was given as evidence to refute the claim that OCYS was helping to fund the pro team. The memo says that the pro team actually invested over $200,000 in OCYS, including the $100,000 for CFK's debts. Also, there were rumors being spread that the merger didn't take place, so I think they included this information to also help refute that (if the merger never took place, why would OCYS pay CFK's debts?) Some members of OCYS who weren't involved in the merger were probably surprised, and I think that is where the argument started. These people probably were legitimately surprised. But I doubt the people involved were surprised. They made a decision that the benefits they would receive from the merger was worth the investment.

[Unregistered]

No, I didn't forget about those. Those aren't listed on CFK's public financial reports, because they aren't assets. The players represent potential future revenues, and CFK would have had to incur expenses in order to earn those revenues (and OCYS did incur expenses to earn those revenues). They are not assets. It is absurd to say, "Well, those players would have paid us $900,000 next year, so we should include that as an asset, but forget about the $1,000,000 of expenses that we would have incurred to earn those player fees." ECNL is a league that CFK was a member of - not an asset. The "Best coaches in Orlando" have to be paid to perform their services - not an asset.

I'm not saying that OCYS didn't benefit from the merger, or whether the $100,000 was a good deal or a bad deal. They gained access to additional players, ECNL, and coaches. No one is disputing that. OCYS thought it was worth the money. My post was specifically about whether OCYS paid $100,000 as a part of the merger, because I'm tired of seeing the "Yes, they did!" "No, they didn't!" arguments.

OCYS got ECNL and FKK got the best female players in central florida. Both sides won and lost. OCYS girls get an opportunity to play in ECNL and maybe get noticed but not an easy task by any means when your playing against much better quality teams and players. While FKK girls train with the best girls in the area week after week but have to work harder to be seen. Not the perfect scenario for either side but it is what it is.