Sweaty Ken

[Kane57]

Fuck all really

One of the better earners, I'd wager

[Sluffy]

It appears he's taking about half a million a year

 

Not strictly true.

 

A sum of £525,000 was paid to KA's company (Inner Circle Sports and Media iirc) for 'consultancy work' - that could mean anything really - and KA may not even benefit from it himself for all we know as no one outside the company, or who commissioned the work at the club would actually know the truth.

 

Also for what it is worth a further £125,000 was paid again for consultancy to Athos Ltd, which is owned by family members of Mr Anderson.

 

The Anti - Anderson's have read it to these bland statements that KA paid himself £525,000 and LA £125,000 but that is just their opinion - there are certainly no facts whatsoever supporting such a view.

 

Even if it was true (and other lines of thinking was that the £525,000 paid to KA's company - when tax was deducted - came very close to the amount he paid the liquidator for Holdsworth shares; or perhaps it was work done on KA's behalf regarding all the court preparation work he's had to incur due to his company (Inner Circle Investments) being the owner of BWFC (via Burnden Leisure); or maybe it genuinely was for the costs incurred by KA's company in scouting and arranging the recruitment of all those players we have brought in since he was here.

 

Anyway I digress a little bit, and return to say even if it was true that the £525,000 was for wages for him, then that would equate to more or less £10,000 per week, which seems to have been around the cap we were paying players under the embargo, so contrary to our friend Mr Manning's comment above hardly one of the better earners and certainly much less than what was paid to the likes of Amos, Pratley, Dervite, etc.

 

There are actually no facts in the public domain to say that either KA or LA have ever been paid a wage from BWFC despite what all the anti-Andersons fervently want people to believe.

[Kane57]

Well, that's one way of looking at it

[tomski]

Well, that's one way of looking at it

Aye. Wow

[bwfcfan5]

Not strictly true.

 

A sum of £525,000 was paid to KA's company (Inner Circle Sports and Media iirc) for 'consultancy work' - that could mean anything really - and KA may not even benefit from it himself for all we know as no one outside the company, or who commissioned the work at the club would actually know the truth.

 

Also for what it is worth a further £125,000 was paid again for consultancy to Athos Ltd, which is owned by family members of Mr Anderson.

 

The Anti - Anderson's have read it to these bland statements that KA paid himself £525,000 and LA £125,000 but that is just their opinion - there are certainly no facts whatsoever supporting such a view.

 

Even if it was true (and other lines of thinking was that the £525,000 paid to KA's company - when tax was deducted - came very close to the amount he paid the liquidator for Holdsworth shares; or perhaps it was work done on KA's behalf regarding all the court preparation work he's had to incur due to his company (Inner Circle Investments) being the owner of BWFC (via Burnden Leisure); or maybe it genuinely was for the costs incurred by KA's company in scouting and arranging the recruitment of all those players we have brought in since he was here.

 

Anyway I digress a little bit, and return to say even if it was true that the £525,000 was for wages for him, then that would equate to more or less £10,000 per week, which seems to have been around the cap we were paying players under the embargo, so contrary to our friend Mr Manning's comment above hardly one of the better earners and certainly much less than what was paid to the likes of Amos, Pratley, Dervite, etc.

 

There are actually no facts in the public domain to say that either KA or LA have ever been paid a wage from BWFC despite what all the anti-Andersons fervently want people to believe.

The accounts also note that a separate £250,000 was paid by the business to settle the inner circle and sports shield business. The net result being transfer of shares from SS to IC. You could argue that is also money Anderson has taken out of the club for his own end.

 

The consultancy, I’m struggling to see any argument how that isn’t Anderson indirectly paying himself a wage. I’m not saying he shouldn’t. But the counter point is if you add it all up it’s £750K taken out of the club by Anderson on a turnover of £8M.

[John Thomas]

Go on then...

Can’t understand why he’s saying he isnt pro actively trying to get investment/a sale done. Only waiting for these predictable chancers to kick tyres. He cant pay bonuses on time or put decent bids in so he is going to just oversee our return to league one. Smoke and mirrors all the time

[gonzo]

Worth every penny so far.

[Zico]

Apart from when the players went on strike

[Kane57]

The accounts also note that a separate £250,000 was paid by the business to settle the inner circle and sports shield business. The net result being transfer of shares from SS to IC. You could argue that is also money Anderson has taken out of the club for his own end.

 

The consultancy, I’m struggling to see any argument how that isn’t Anderson indirectly paying himself a wage. I’m not saying he shouldn’t. But the counter point is if you add it all up it’s £750K taken out of the club by Anderson on a turnover of £8M.

 

Just remember who you're replying to

[barrycowdrill]

As a percentage it looks high and rightly questioned.

 

To balance that, the fact he stepped in when no one else wanted to to avoid the club becoming extinct, stepped in again to assume full control when no one else wanted to when it became clear Holdsworth was a balloon and since then guided the club through one of if not the most difficult time in its history I'd say the work he has done is priceless

 

This is a topic that has been raised elsewhere previously, but the norm in the private sector is to have the CEO, MD etc as the highest earner within the business. i dont get why people think any different in a football club.

 

even more relevant for us considering the above 

[bwfcfan5]

As a percentage it looks high and rightly questioned.

 

To balance that, the fact he stepped in when no one else wanted to to avoid the club becoming extinct, stepped in again to assume full control when no one else wanted to when it became clear Holdsworth was a balloon and since then guided the club through one of if not the most difficult time in its history I'd say the work he has done is priceless

 

This is a topic that has been raised elsewhere previously, but the norm in the private sector is to have the CEO, MD etc as the highest earner within the business. i dont get why people think any different in a football club.

 

even more relevant for us considering the above 

 

Yes, I'm not opposed to Ken's renumeration. However, the % on turnover is somewhat high. And remember that was on our league one turnover. Who knows what has been taken out since.

 

Lets say another £750K has come out. That is in total £1.5M over two seasons. It will get ugly in some quarters if that is revealed and we end up short of players come August with no striker signed - especially if it turns out we wouldn't pay £750K for his top target. The reality is it doesn't work like that and cashflow determines what we can pay and when and how. And I still maintain the injury has in reality scuppered that deal. But that is not how the anti-Anderson brigade will see it on twitter. And frankly it does seem a little hard to defend that "salary" if next season we have a tiny squad and get thumped week in week out. 

[barrycowdrill]

Absolutely. Simple minds will expect all of that money to go to signings and him work for free

 

in relation to turn over he has left himself open to attack. Definitely.

 

i said in a post yesterday, there will come a point in the not too distant future where he decides he doesnt need the shit that comes with what he is doing. Whether that be the constant pressure to keep the club going or abuse from certain quarters for every decision he makes.

 

Then we could be in a worse situation than when we started 

[bwfcfan5]

Absolutely. Simple minds will expect all of that money to go to signings and him work for free

 

in relation to turn over he has left himself open to attack. Definitely.

 

i said in a post yesterday, there will come a point in the not too distant future where he decides he doesnt need the shit that comes with what he is doing. Whether that be the constant pressure to keep the club going or abuse from certain quarters for every decision he makes.

 

Then we could be in a worse situation than when we started 

 

Hopefully not. Though he lives in Monaco and is rarely here so I doubt he's that wrapped up in all the daily tittle tattle. 

[barrycowdrill]

Hopefully not. Though he lives in Monaco and is rarely here so I doubt he's that wrapped up in all the daily tittle tattle. 

 

If at some point in the last 12 months or so LA hasnt walked in to a room and started the conversation with Ken with "Jesus Christ what a bunch of cnuts we have to deal with...."

 

i would be amazed

[Sluffy]

Hopefully not. Though he lives in Monaco and is rarely here so I doubt he's that wrapped up in all the daily tittle tattle. 

 

He resides in Switzerland, at least that is where he is registered for tax purposes.

[mannyroad58]

Hopefully not. Though he lives in Monaco and is rarely here so I doubt he's that wrapped up in all the daily tittle tattle. 

Rarely here are you having a laugh, he's at most if not all of the games and if he misses the odd game or 2 in a season he's more than entitled to do so as we all are and he's involved in every aspect of the club that's how he's managed to cut the costs and get us running as a business

[Mounts Kipper]

Latest comments in Bolton news we came close to a deal with investor who recently bought Egyptian club instead. Quick search found this guy. https://www.egyptindependent.com/ex-honorary-president-of-ahly-buys-assiouty-club-changing-name-to-al-ahram-fc/

 

Bet KA is gutted it didn’t happen.

[Zico]

Absolutely. Simple minds will expect all of that money to go to signings and him work for free

 

in relation to turn over he has left himself open to attack. Definitely.

 

i said in a post yesterday, there will come a point in the not too distant future where he decides he doesnt need the shit that comes with what he is doing. Whether that be the constant pressure to keep the club going or abuse from certain quarters for every decision he makes.

 

Then we could be in a worse situation than when we started 

 

maybe, but he's only relatively recently made a proactive decision not to sell the club or seek investment, and there'll be a good reason for that, which is probably his wage

[Sluffy]

The accounts also note that a separate £250,000 was paid by the business to settle the inner circle and sports shield business. The net result being transfer of shares from SS to IC. You could argue that is also money Anderson has taken out of the club for his own end.

 

The consultancy, I’m struggling to see any argument how that isn’t Anderson indirectly paying himself a wage. I’m not saying he shouldn’t. But the counter point is if you add it all up it’s £750K taken out of the club by Anderson on a turnover of £8M.

 

You could argue that but it wouldn't be a statement of fact.

 

The money was paid to Holdsworth (so he at least benefitted from it - not to mention the £1 million he took from the BluMarble loan in 'setting up fees' to pay the remaining £4 million into the clubs bank account - note BluMarble are only coming after the club for the £4 million it received, presumably they are dealing with Mr Holdsworth in respect of the other £1 million?) as part of his facility of ultimately exiting the partnership.

 

Companies can and sometimes do repurchase their own shares.  The net result being less share holders to receive the annual company dividend.  As no dividends have ever been paid in Burnden Leisure's history, no shareholders have directly benefitted from the action. In theory therefore as both Anderson and Holdsworth were both equal partners at the time in Burnden Leisure they must have both agreed to this action, so it would be wrong to speculate as you have that this action was to solely enrich Anderson.

 

As for the consultancy 'struggle' as much as you like but THE FACTS in black and white in the audited accounts of the club DON'T show any 'wages' paid to either KA or LA.

 

It is as simple as that - everything else is just people like you guessing.

[Zico]

You could argue that but it wouldn't be a statement of fact.

 

The money was paid to Holdsworth (so he at least benefitted from it - not to mention the £1 million he took from the BluMarble loan in 'setting up fees' to pay the remaining £4 million into the clubs bank account - note BluMarble are only coming after the club for the £4 million it received, presumably they are dealing with Mr Holdsworth in respect of the other £1 million?) as part of his facility of ultimately exiting the partnership.

 

Companies can and sometimes do repurchase their own shares.  The net result being less share holders to receive the annual company dividend.  As no dividends have ever been paid in Burnden Leisure's history, no shareholders have directly benefitted from the action. In theory therefore as both Anderson and Holdsworth were both equal partners at the time in Burnden Leisure they must have both agreed to this action, so it would be wrong to speculate as you have that this action was to solely enrich Anderson.

 

As for the consultancy 'struggle' as much as you like but THE FACTS in black and white in the audited accounts of the club DON'T show any 'wages' paid to either KA or LA.

 

It is as simple as that - everything else is just people like you guessing.

 

ok

 

do you think he does it for free? THE FACTS suggest he does it for free, but he pays someone else at his own company to the tune of 525k to help him out

 

you say "that could mean anything really"

 

what do you think it means?

[Mounts Kipper]

ok

 

do you think he does it for free? THE FACTS suggest he does it for free, but he pays someone else at his own company to the tune of 525k to help him out

 

you say "that could mean anything really"

 

what do you think it means?

I think it’s quite clear Sluffy is Ken. ????

[barrycowdrill]

maybe, but he's only relatively recently made a proactive decision not to sell the club or seek investment, and there'll be a good reason for that, which is probably his wage

 

i think hes been quite open about the fact he has always been open to selling. If the deal was right. For who? thats up for debate but i have no other reason at the moment to think its for anyone other than the club or else he would have sold it to any of the jokers who have tipped up already. Made his money off the deal and fucked off.

 

Why earn half a million over 2 years and put up with all the shit when he can make a couple of million and leave it all behind?

 

Ive admired his stance on this up to this point and i do believe he doesnt want to put the club at risk again for the right reasons but for me there will come a time where he thinks can i be arsed? Its a thankless job 

[Ani]

You could argue that but it wouldn't be a statement of fact.

 

The money was paid to Holdsworth (so he at least benefitted from it - not to mention the £1 million he took from the BluMarble loan in 'setting up fees' to pay the remaining £4 million into the clubs bank account - note BluMarble are only coming after the club for the £4 million it received, presumably they are dealing with Mr Holdsworth in respect of the other £1 million?) as part of his facility of ultimately exiting the partnership.

 

Companies can and sometimes do repurchase their own shares. The net result being less share holders to receive the annual company dividend. As no dividends have ever been paid in Burnden Leisure's history, no shareholders have directly benefitted from the action. In theory therefore as both Anderson and Holdsworth were both equal partners at the time in Burnden Leisure they must have both agreed to this action, so it would be wrong to speculate as you have that this action was to solely enrich Anderson.

 

As for the consultancy 'struggle' as much as you like but THE FACTS in black and white in the audited accounts of the club DON'T show any 'wages' paid to either KA or LA.

 

It is as simple as that - everything else is just people like you guessing.

Money paid into his business is money paid to him. To say otherwise is total bullshit. It is done this way as it is tax efficient for the club as no pension and NI contributions/liability incurred. Works for him as he will take income as dividends from shares in the company.

 

Any self employed contractors on here will be doing the same. I know I do.

[Kane57]

Ego must play a part too. Ken Anderson rich guy is one thing, but Ken Anderson football club owner is another.

[bwfcfan5]

You could argue that but it wouldn't be a statement of fact.

 

The money was paid to Holdsworth (so he at least benefitted from it - not to mention the £1 million he took from the BluMarble loan in 'setting up fees' to pay the remaining £4 million into the clubs bank account - note BluMarble are only coming after the club for the £4 million it received, presumably they are dealing with Mr Holdsworth in respect of the other £1 million?) as part of his facility of ultimately exiting the partnership.

 

Companies can and sometimes do repurchase their own shares.  The net result being less share holders to receive the annual company dividend.  As no dividends have ever been paid in Burnden Leisure's history, no shareholders have directly benefitted from the action. In theory therefore as both Anderson and Holdsworth were both equal partners at the time in Burnden Leisure they must have both agreed to this action, so it would be wrong to speculate as you have that this action was to solely enrich Anderson.

 

As for the consultancy 'struggle' as much as you like but THE FACTS in black and white in the audited accounts of the club DON'T show any 'wages' paid to either KA or LA.

 

It is as simple as that - everything else is just people like you guessing.

The dispute was between SS and IC over the club's ownership. It was resolved (and the shares transferred to IC) via a payment from the football business. The argument about whether this enriches Anderson or not is moot. That was club money being used to solve a dispute between two companies over club ownership. Yet the business itself paid for the resolution. And IC picked up the shares as a result. 

 

In effect if IC decided to buy shares of another unrelated business you wouldn't expect KA to use BWFC money to pay for them. 

 

As for guessing, nobody is guessing here. It is irrelevant what the money was used for. We know that ~£750K flowed out of the club to businesses Anderson either owns or has a connection with. Were he not here that money would not be going there.

 

Is it fair enough? Different debate entirely. Also we do not know if he is taking a standard wage on top.