Jump to content
Wanderers Ways. Neil Thompson 1961-2021

Take Over


Kane57

Recommended Posts

1 hour ago, Mantra said:

Not to be negative but doesn’t fill me with confidence if EDT had to help them with the buy in fee...

Any idea for the name change? 

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

Link to comment
Share on other sites

5 minutes ago, Damocles said:

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

You also said the FV bid was dead. Apparently not.

Link to comment
Share on other sites

1 hour ago, Mantra said:

Not to be negative but doesn’t fill me with confidence if EDT had to help them with the buy in fee...

Any idea for the name change? 

It does not say the EDT helped with the fee. 

 

I just read it as they had been flexible with the terms of the charge on the club. 

Link to comment
Share on other sites

10 minutes ago, Damocles said:

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

Glad you know all the details of the deal. You PR folk get very involved. 

Link to comment
Share on other sites

23 minutes ago, Damocles said:

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

After 5 groups paid 25k for the privilege i can't see that being the best bid.It would just carry on where we were a year ago, surviving but next to no hope on the pitch

Link to comment
Share on other sites

4 minutes ago, Ani said:

It does not say the EDT helped with the fee. 

 

I just read it as they had been flexible with the terms of the charge on the club. 

I’m not reading between the lines of the statement, I’m just going off what Casino said. Not sure if he is reading between the lines or getting info from someone else.

15 minutes ago, Damocles said:

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

Feel free to enlighten us by the way on what was a better offer for the club.

Look, maybe you’re right and FV bid wasn’t the best of the lot, but perhaps because they’ve been in it for 7 months and have made a lot of headway with creditors anyway, it was the best bid because it would take the shortest time to sort out.

Im sure the administrators would have happily sold it to someone with much deeper pockets.

Link to comment
Share on other sites

15 minutes ago, Roger_Dubuis said:

After 5 groups paid 25k for the privilege i can't see that being the best bid.It would just carry on where we were a year ago, surviving but next to no hope on the pitch

Don't forget that 'businessman' (and owner of Chelsea Cottage) Martin Edwards was prepared to accept £10M for his club when Mr Knighton rocked up. Smart isn't the word.

Link to comment
Share on other sites

15 minutes ago, Mantra said:

I’m not reading between the lines of the statement, I’m just going off what Casino said. Not sure if he is reading between the lines or getting info from someone else.

Feel free to enlighten us by the way on what was a better offer for the club.

Look, maybe you’re right and FV bid wasn’t the best of the lot, but perhaps because they’ve been in it for 7 months and have made a lot of headway with creditors anyway, it was the best bid because it would take the shortest time to sort out.

Im sure the administrators would have happily sold it to someone with much deeper pockets.

Fair enough. Do not trust what Casino says he is a prick. 😁😎

Link to comment
Share on other sites

On 21/06/2019 at 22:34, Damocles said:

One wonders if an unresolved divorce would affect the ability to fund the club, not previously disclosed to administrators.

 

On 21/06/2019 at 22:56, Damocles said:

Mere speculation on my part, the old grapevine can be very slippery. As Kane intimates, likely a bereavement or an illness diagnosis, could change the mindset I suppose, just odd that it would cause a delay given FV are a consortium.

 

On 25/06/2019 at 22:56, Damocles said:

Does nobody find it odd that none of the ‘other’ bidders have broken cover, perhaps sore at losing £25K on a venture that they realistically had no chance of ‘winning’?

Reading between the lines, FV were probably the only bidder outside of Bassini & Gaspard and are possibly struggling to find the ‘upfront’ cash to satisfy the EFL requirements for exiting administration. I suspect the delay is actually trying to get the EFL to approve a staged payment structure as opposed to the ‘upfront’ settlement. This will then presumably be put to creditors to approve (creditors including one K Anderson).

 

On 26/06/2019 at 16:25, Damocles said:

Do you truly believe that the wheels would grind to a halt because of the passing of a family member related to FV? That is unless said family member was providing funding that is now locked up in probate.

 

On 26/06/2019 at 16:30, Damocles said:

The £1M you reference here is the amount Michael James already ‘lent’ the club in April. 

There is a significant difference between 5 groups ‘paying to see the books’ and 5 ‘formalised bids’. 

Satisfying the EFL requirements is fairly subjective in respect of how it is paid. 

Shaun Harvey has made no comment on anybody satisfying any conditions yet.

 

On 27/06/2019 at 14:29, Damocles said:

The FV deal is dead, but that does not mean that other bidders can’t be brought back, or new bidders considered. Sluffy et al are convinced there were other bidders, let’s hope so..... 

FWIW, Kuyt is backed by some decent people.

 

1 hour ago, Damocles said:

So MJ debt waived, EDT debt waived & structured payment plan on the 25% debt to unsecured creditors..... this was the ‘best’ bid? 

You do have rather a lot to say for yourself .............. whats your issue ? 

Link to comment
Share on other sites

I have a feeling that Damocles / Howard will be GUTTED after FV have taken us over and some stability and rebuilding can then ensue. I strongly suspect that he / she has a major issue with BWFC and wants / hopes to see us crash and burn.

Well get over it fella / luv - it ain't gonna happen. We are the famous Bolton Wanderers and we will prevail. Always.

Link to comment
Share on other sites

3 minutes ago, Burnden Pies said:

I have a feeling that Damocles / Howard will be GUTTED after FV have taken us over and some stability and rebuilding can then ensue. I strongly suspect that he / she has a major issue with BWFC and wants / hopes to see us crash and burn.

Well get over it fella / luv - it ain't gonna happen. We are the famous Bolton Wanderers and we will prevail. Always.

I've a feeling they'll not be seen on the Gillingham away thread, that's for sure.

Link to comment
Share on other sites

3 minutes ago, Marc505 said:

I've a feeling they'll not be seen on the Gillingham away thread, that's for sure.

Indeed. Perhaps he / she will be much more preoccupied by the imminent demise of his / her beloved Bucket Shakers / Pie Eaters / Roverrrs or other bitter and jealous sad no mark team to waste their time chatting utter shit on here.

Link to comment
Share on other sites

My brothers just messaged me from East Anglia with the HoT news.   Let’s get the other bits and bobs out the way, put smiles on the staff’s faces and start afresh.  To say I’m delighted is a understatement, as you lot will be too, this really is great news.  I really hope that the fans can understand that we may not have the financial muscle to buy our way out of this league and I hope we can all respect that, let’s just rejoice we have some new owners who have the guts to sort that bloody mess KA left behind.  God I’m buzzing here 🙂 

Link to comment
Share on other sites

3 hours ago, Mantra said:

Not to be negative but doesn’t fill me with confidence if EDT had to help them with the buy in fee...

Any idea for the name change? 

I would suspect EDT have swapped their debt for equity in the new company purchasing the club - possibly/probably James doing similar - this doesn't mean either will be putting further monies into the club - unsecured anyway.

It is more likely that they will finance the club by leveraging the car parks, ground, land etc - possibly/probably by James/EDT/others providing loans and again securing these on the clubs assets.

The name change may reflect some of the original key players of FV may no longer be involved and some new ones - EDT for instance may well be.  I guess it is even possible that there may even be another company in the background to hold the ownership shares and FV has simply been a front/vehicle to get to this point.

I can see the name being of any particular importance unless it is intended to reflect a major player of the takeover in someway - like say Prescott Business Park (BWFC), OR Eddie Davies (BWFC), or something along those lines.

 

 

Link to comment
Share on other sites

Would make sense if they’ve swapped their debt for equity as they were owed quite a lot it seems. 

Nixon has said a few times that they just want to get their money back and cut ties with the club as the EDT have no interest in football now Eddie has gone. So either Nixon’s wrong or none of the bidders could fulfil the EDT debt and so they took equity instead.

Anyway that is just speculation for now. Whether EDT are involved or not the Football Ventures group will have my support, in what will no doubt be a testing few seasons under their ownership.

Hopefully they do change their name as I’m getting bored of my mates laughing at me when I tell them Football Ventures want to buy us and they ask “what other football clubs are they involved in?” And I have to say “no, this would be their first football venture.”

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.