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Wanderers Ways. Neil Thompson 1961-2021

Sweaty Ken


Lostock Whites

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2 hours ago, Ani said:

 

I get it is similar to the Parky out debate, the difference being is that you sack a manager there will always be people willing to step in, less so for a business that is losing millions a year and asking someone to take over.

The only thing I'd add, is that it may be that interested parties are not keen to deal with ken and aren't coming forward.

I suppose if we went into administration we might get more of an idea.

If ken does carry on, the concern is how long before he achieves the sustainable financial management he initially espoused?

 

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Well for what it is worth I don't believe KA will walk away but if he did I would imagine the club would simply stop functioning.

The reason being Anderson is not only the owner but the only 'executive' of the club, as far as I'm aware there is no appointed head of paid services (a CEO) no 'administrative' Directors (Managing Director, Finance Director),  so in short there is no one left to take decisions.

Richard Eaton, The Head of Finance, will have to adhere to statutory financial regulations and may well have to declare the club is unable to trade (it may not be insolvent in terms of the club having more assets than debt but if he as the financial representative of the club is unable to have the authority to access these assets, then how can he allow the club to continue trading knowing in his position as Head of Finance the club is unable to pay the bills?).

Certainly if KA has walked away the first Winding Up petition would lead to Liquidation as KA still owns the club, is not seeking to contest the Winder, has not sold it on, is not paying the bills, would not be seeking Administration and presumably simply be happy for all go to shit (he may/may not still walk away with money from his secured loan depending on what monies are left in the club and what level of creditor he is paid at).

Maybe the club could be saved if it could survive until KA defaults on the Moonshift loan and the club ownership defaults to them - but possibly they don't want the club either - and at a higher level of secured creditor status are prepared for the club to also fall into Liquidation and gamble that there really is someone out there prepared to pay a fair price for the club (and debts) before it did?

Certainly can't foresee those outcomes ever happening though - but stranger things have happened I guess?

No doubt those organising the 'Anderson Out' process would have fully factored in such an outcome in the desire to see KA go asap?

Hope they have a Plan B ready if he ever did just walk away still as the owner!

 

 

 

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I may be coming at this from the wrong angle but on the bit about winding up petitions (from 1:00 -1:19) does it not seem to confirm there is some type of agreement to pay at a later date?
im guessing the petitions have only been issued today/yesterday? and i'm guessing we get the money from the EFL next week? so maybe there is some truth in what ken was trying to say

"Two winding up petitions one week after Bolton had broken there contract to pay us 
and one week before they promised they would make good the contract"
 

Edited by Werder barmen
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1 hour ago, kent_white said:

Anybody else seen their personal email from Sweaty? :)

At least we know now that he did pay himself 525K in the 2016-17 financial year. (Promotion bonus)

it could be  a while before we know how much he received 2017-18 (staying up bonus, not you Parky) and 2018-19 (that’s what I think of your protest bonus)

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39 minutes ago, Sluffy said:

Well for what it is worth I don't believe KA will walk away but if he did I would imagine the club would simply stop functioning.

The reason being Anderson is not only the owner but the only 'executive' of the club, as far as I'm aware there is no appointed head of paid services (a CEO) no 'administrative' Directors (Managing Director, Finance Director),  so in short there is no one left to take decisions.

Richard Eaton, The Head of Finance, will have to adhere to statutory financial regulations and may well have to declare the club is unable to trade (it may not be insolvent in terms of the club having more assets than debt but if he as the financial representative of the club is unable to have the authority to access these assets, then how can he allow the club to continue trading knowing in his position as Head of Finance the club is unable to pay the bills?).

Certainly if KA has walked away the first Winding Up petition would lead to Liquidation as KA still owns the club, is not seeking to contest the Winder, has not sold it on, is not paying the bills, would not be seeking Administration and presumably simply be happy for all go to shit (he may/may not still walk away with money from his secured loan depending on what monies are left in the club and what level of creditor he is paid at).

Maybe the club could be saved if it could survive until KA defaults on the Moonshift loan and the club ownership defaults to them - but possibly they don't want the club either - and at a higher level of secured creditor status are prepared for the club to also fall into Liquidation and gamble that there really is someone out there prepared to pay a fair price for the club (and debts) before it did?

Certainly can't foresee those outcomes ever happening though - but stranger things have happened I guess?

No doubt those organising the 'Anderson Out' process would have fully factored in such an outcome in the desire to see KA go asap?

Hope they have a Plan B ready if he ever did just walk away still as the owner!

 

 

 

The protest is their Plan B

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1 minute ago, wakey said:

tough one that. You got any proof?

Have you that he is?

 

(Look if you are who I think you are and you want to carry on a past history with me then it's wrong and disrespectful to be doing it on this site.  You can always find me over on Bolton Nuts anytime you feel like having a pop at me.  Otherwise why not draw a line under it and move on?).

 

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1 minute ago, Sluffy said:

Have you that he is?

 

(Look if you are who I think you are and you want to carry on a past history with me then it's wrong and disrespectful to be doing it on this site.  You can always find me over on Bolton Nuts anytime you feel like having a pop at me.  Otherwise why not draw a line under it and move on?).

 

Past history?  At most we had a 'moment' years ago. On an internet forum. I'd assume any necessary under-lining was done pretty much at the time.

As for having a pop at you, at most, I'm gently teasing and it's because of your obvious man-crush on Ken, not because it's you Sluffy.

 

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28 minutes ago, Sluffy said:

He's not the Devil either - do we all agree on that too?

 

Depends who you speak to. If you look on Twitter, as I know you do, I’d say no.

If you speak to anyone who has actually dealt with him in business, then I’d say no.

Me? Never met him.

Edited by Boby Brno
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