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Benny The Ball

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Benny The Ball last won the day on May 6

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About Benny The Ball

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  • Birthday 15/10/1962

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  1. By not running the administrations concurrently the hotel valuation has risen - the whole process is flawed - just follow the money and look who benefits Theory is quite plausible
  2. That's our future - when / if we are saved !! Transpired to be a 5 minute interview with Steven Battersby - and to be fair - was the first time I have ever heard mention of the Hotel situation - frankly at this stage anything that shines a light onto the separate agendas of the two administrators is welcome - they wont welcome the media attention on what they are doing
  3. For those up and about feature on BWFC coming up on radio 5 " wake up to money " shortly
  4. I think the time for following the legal requirements of administration is gone The whole process has been flawed from the very start , from the appointment of two separate administrators who seem to have followed their own course of actions and timescales and paid scant if any regard to what the other was doing David Rubin should have not accepted the FV bid on a conditional basis - particularly as it was subject to the acquisition of the hotel , that was not in his gift to do so Quantuma should not have delayed marketing the Hotel until a preferred bidder for the Football Club was found and then use the knowledge that the FV bid was conditional to try and force up the price of the Hotel by attracting inflated bids and offers from frustrated wanna be football club owners such as Bassini and Fawaz Al Hasawi , most likely being encouraged by vested interests and clever lawyers You are presuming in what you say the Hotel is worth substantially more than £5.5 million - it may not be , its value may only have increased very recently because of a flawed process The two should have worked together Rubins said he wanted proof of £25 million from prospective buyers of the club and the hotel - suggesting publically he ran the overall show Quantuma said the Hotel and Football club are intrinsically linked So why have they not worked together ? The fact is that unless they throw the rule book of legal requirements of administration out of the window we will be left with neither a football club or a hotel End of
  5. Me too - Sounds like Quantuma have realised if this deal is not done in the next few days the hotel is worthless
  6. I know we are all looking for anything positive , anything at all the moment , so here's something that may signify some positive news in the pipeline , or maybe Wycombe are just going about their business as normal ... Can we / dare we read anything into it ? https://www.wycombewanderers.co.uk/news/2019/july/bolton-tickets-now-on-sale/
  7. Chris there's an awful lot of Law firms out there with the relevant expertise The Issue here is that one lawyer is wearing two hats - one on behalf of Ken Anderson and one on behalf of the creditors of Bolton Whites Hotel a subsidiary within the Bolton Wanderers group structure What happens when a decision has to be made by that lawyer that on the one hand is to the benefit of the Football group as a whole and to the detriment of KA as an individual ( or vice versa ) Whose best interests will that Lawyer act in ? That is the issue and to avoid such issues altogether a different firm should have been appointed
  8. The bits that stand out to me are sections 5.5 and 5.6 on page 7 and 5.12 on page 8 5.5 It should be noted that the joint administrators will shortly be engaging in a marketing and sale process of the above assets. This has been delayed since the commencement of the administration due to the amount of operational issues that the company has faced since the commencement of the administration , including re-opening the hotel. Additionally since the company is inextricably linked to the football club, the sale of the hotel is highly contingent on the sale of the football club. 5.6 As Such , given the preferred bidder of the football clubs administrators was only confirmed recently the joint administrators considered it appropriate to delay marketing the hotel until such time as the sale of the football club was further progressed. 5.12 To advise on appropriate legal matters and to prepare required legal documentation the joint administrators instructed Walker Morris LLP a firm of Lawyers with the appropriate expertise and experience in dealing with these types of administrations I find 5.12 shocking as Walker Morris are Ken Andersons solicitors and as such have a massive conflict of Interest and the Hotels creditors ought to be raising that as a major concern With regard to 5.5 and 5.6 I just detect the hand of KA all over this trying yet again to manipulate the situation to his own ends - If the administrators accept the Hotel is inextricably linked to the football club , then surely they must accept that without a football club there will be no hotel , and to my mind sitting back and not marketing the hotel for 6 weeks is inexcusable - they should have been marketed concurrently
  9. I am wondering how much longer this whole sorry saga can go on for Just listened to that Gordon Taylor interview on Talk Sport and there were doubts expressed that we will have a team on the pitch on the opening day of the season I was hoping that following yesterdays publicity that the 2 administrators would see sense and sort this matter out between themselves - ideally in the next 48 hours , because what is clear is that FV need the hotel to fund their plans. However I have just noticed that the Hotel administrator has filed online yesterday at companies house ( Bolton Whites Hotel Limited ) Statement of administrator's proposal This document is being processed and will be available in 5 days. If that statement ( which cannot yet be viewed ) reaffirms the timescales in his press release We have commenced a marketing and sales process of the hotel and have appointed agents to manage the process, which has received significant interest from potential purchasers. We expect the process to run for four to six weeks and do not propose to comment on progress during this time, as discussions will be confidential. then I am struggling to see a way forward Surely the hotel administrator must realise without the football club being able to fulfil its fixtures there will be no hotel Something needs to happen and it needs to happen soon
  10. Why ? If FV have presented to the administrator an unconditional offer to purchase the stadium upon FV acquiring the club for £x million from a blue chip Insurance company or similar , am pretty certain they would accept that as part of the required funding Does not necessarily mean £25 million in a bank account with instant access - at least I dont think it does
  11. I dont think FV funding plan is reliant on the hotel business in the sense that it provides an income for the football club . I think Damocles was on the right lines a couple of days ago. My hunch is that FV have lined up a sale of the football stadium at £12 - £15 million with an institutional investor and that capital sum will be released on completion. That cash will be critical to FV - it will represent 50- 60% of the £25 million they will have proven as available funding to the administrator. They have probably lined up a tenant for the hotel already and agreed with the stadium buyers a long term rent the football club will pay - on the face of it everyone is happy . . But then the hotel administrator puts a spanner in the works because he gets indications that higher offers for the hotel are out there - more than FV want to pay, which leaves everything up in the air because the institutional investor will rightly only do a deal on the entire stadium and not just part of it , so without the hotel FV wont be able to fund the club.
  12. At one point he did , however ED trustees were entitled to have detailed financial information under terms of charge they had over club , and one way or another relevant Information was available to potential buyers
  13. Don't forget Bassini , Gaspard and FV had already had access to the relevant data as they had already been in discussions with KA so did not necessarily need to pay for what they already knew
  14. I am anticipating that the hotel will most likely be sold to Football Ventures along with ( and at the same time as ) the football club. The Hotel was owed £985k ( Note 12 Trade Debtors ) in the accounts as at 30 June 2017 by " Group Undertakings " in other words the football club. This will have most likely risen substantially since that date as the hotel has paid out staff wages for the football club and will have also allowed use of the hotel by staff from the football club which wont have been paid for. If at the point of entering administration that inter company debt stood at lets say £1.6 million in the hotels books , then because the administration has been split into two , effectively that £1.6 million is an unsecured creditor in the football clubs books and the club will pay the hotel a reported 25p in the £ along with the other unsecured creditors . Therefore the hotel will over time recoup circa £400k from the football club . The Hotel is reputed to have been valued at circa £4.5 - £6 million If the hotel is sold to Football Ventures then most likely most of the cash received by the administrator will go to pay off KA with the balance going to the unsecured creditors. Then most likely James will as you suggest write off most of what he is currently owed and put in place a new charge That's how I see it proceeding - and to be honest I struggle to see it being sold separately , because under such circumstances where it is sold separately neither James ( wanting ownership of the club and the hotel ) or Anderson ( wanting his money back ) would be satisfied with the outcome , unless someone comes along and pays £10 million plus for it , which is well above what its valued at.
  15. You do have rather a lot to say for yourself .............. whats your issue ?
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