Take Over

[Benny The Ball]

42 minutes ago, burnden said:

 

First time I have seen this 

Just had a read through , what I find interesting when you put this alongside Quantumas report from a few days ago , is what is not said in this report 

If you read this with no prior knowledge you would be none the wiser as to why the deal has not been concluded 

You would not think the hotel was as quantuma stated " intrinsically linked to the football club " 

Apart from at clause 3.5 where it says the hotel has entered administration , the hotel is not mentioned - at all

At 6.11 it details  why the FV bid was accepted - Highest offer , Proof of funds & Viability of business plan - no mention of that bid  being linked to or being  conditional upon the purchase of the Hotel 

At section 7 where they detail the work they are planning on doing - no mention of liaising with the Hotel administrator at all 

Just confirms for me that the whole ( club & hotel )  administration process has been flawed from day 1 and its the failure of the two sets of administrators to even attempt to work together that has put us in the position we now are  

 

NB Anyone know the context of and what is meant by "Asset Apportionment " at 6.13 ? 

 

 

Edited July 24, 2019 by Benny The Ball

[Okocha10]

That Kieran Maguire says the "2017/2018 figures are mysteriously missing, preventing disclosure of how much Ken Anderson paid himself that year". Think some on here predicted that this would happen 

Edited July 24, 2019 by Okocha10

[bwfcfan5]

3 minutes ago, Benny The Ball said:

First time I have seen this 

Just had a read through , what I find interesting when you put this alongside Quantumas report from a few days ago , is what is not said in this report 

If you read this with no prior knowledge you would be none the wiser as to why the deal has not been concluded 

You would not think the hotel was as quantuma stated " intrinsically linked to the football club " 

Apart from at clause 3.5 where it says the hotel has entered administration , the hotel is not mentioned - at all

At 6.11 it details  why the FV bid was accepted - Highest offer , Proof of funds & Viability of business plan - no mention of that bid  being linked to or being  conditional upon the purchase of the Hotel 

At section 7 where they detail the work they are planning on doing - no mention of liaising with the Hotel administrator at all 

Just confirms for me that the whole ( club & hotel )  administration process has been flawed from day 1 and its the failure of the two sets of administrators to even attempt to work together that has put us in the position we now are  

 

NB Anyone know the context of and what is meant by "Asset Apportionment " at 6.13 ? 

 

 

One might think that nobody anticipated that the EFL approval process would intervene and demand that the hotel acquired first before change of control would be allowed...

I mean perhaps it was an oversight on the part of FV and admins. Or perhaps nobody expected the EFL to rigorously examine the plan. Or perhaps FV's financial clout changed and the hotel operation became far more crucial to satisfying EFL demands...

I personally think something changed after heads of terms....

[Tommy Banks]

Bloody hell its a licence to print money 

[Pricey]

1 minute ago, Okocha10 said:

Think administrators said they agreed to pay the development fee of £250k think it was, doesn't look like they have 

I suppose the silver lining is we got more than we were owed

24 minutes ago, Duck Egg said:

We get 200. Luca and agent get 150?

quite possibly, would make sense

[Chris Custodiet]

12 minutes ago, Okocha10 said:

That Kieran Maguire says the "2017/2018 figures are mysteriously missing, preventing disclosure of how much Ken Anderson paid himself that year". Think some on here predicted that this would happen 

Mysteriously missing eh?

I suspect KA did pay himself something in 2017/18 as a reward for selling Madine for a small fortune, persuading Blumarble to accept £1m less and the club getting another year's Championship income but that 's not the reason the accounts are missing. Big problem over 'going concern' issues and auditors being unpaid are two rather more significant matters.

Could it be that Mr Maguire is another 'pot stirrer' in the Iles, Conn mould?

Edited July 24, 2019 by Chris Custodiet

[Duck Egg]

4 minutes ago, Chris Custodiet said:

Mysteriously missing eh?

I suspect KA did pay himself something in 2017/18 as a reward for selling Madine for a small fortune, persuading Blumarble to accept £1m less and the club getting another year's Championship income but that 's not the reason the accounts are missing. Big problem over 'going concern' issues and auditors being unpaid are two rather more significant matters.

Could it be that Mr Maguire is another 'pot stirrer' in the Iles, Conn mould?

So rewarding himself while not paying every other bugger that were as, if not more, responsible for the 'achievements' you've listed above?

They're not pot stirrers. They're just more polite than those of us who can see Ken's a c*nt 

[birch-chorley]

10 minutes ago, Chris Custodiet said:

Mysteriously missing eh?

I suspect KA did pay himself something in 2017/18 as a reward for selling Madine for a small fortune, persuading Blumarble to accept £1m less and the club getting another year's Championship income but that 's not the reason the accounts are missing. Big problem over 'going concern' issues and auditors being unpaid are two rather more significant matters.

Could it be that Mr Maguire is another 'pot stirrer' in the Iles, Conn mould?

Will those accounts ever see the light of day, I thought it was a legal requirement? When were they due? 

As you say, we had the Madine money and Sky payments for being in the championship that season, Ken was talking about a ‘small profit’ 

You’d have expected that we could have got those accounts out Surely? 

[Okocha10]

9 minutes ago, Chris Custodiet said:

Mysteriously missing eh?

I suspect KA did pay himself something in 2017/18 as a reward for selling Madine for a small fortune, persuading Blumarble to accept £1m less and the club getting another year's Championship income but that 's not the reason the accounts are missing. Big problem over 'going concern' issues and auditors being unpaid are two rather more significant matters.

Could it be that Mr Maguire is another 'pot stirrer' in the Iles, Conn mould?

You maybe right, guessing the only way to find out more information what is going on when the club's accounts are filed. 

[BIGBW]

18 minutes ago, Chris Custodiet said:

Mysteriously missing eh?

I suspect KA did pay himself something in 2017/18 as a reward for selling Madine for a small fortune, persuading Blumarble to accept £1m less and the club getting another year's Championship income but that 's not the reason the accounts are missing. Big problem over 'going concern' issues and auditors being unpaid are two rather more significant matters.

Could it be that Mr Maguire is another 'pot stirrer' in the Iles, Conn mould?

If he's earning interest on secured debt and failing to pay a single unsecured creditor (even families hosting scholars), he doesn't deserve a hefty salary. That's the reality. If it comes out that he's taken a huge salary while screwing over everyone else, then it's further proof he's a total piece of sh. End of. 

[gonzo]

Big shout out to Fildraw claiming an extra £7m as well 👍🏻

[Roger_Dubuis]

15 minutes ago, gonzo said:

Big shout out to Fildraw claiming an extra £7m as well 👍🏻

No wonder Blackburn, Wigan and Barnsley could attract foreign investment but we couldn't

Potential buyers who wouldn't slip Ken and Fildraw an extra £7 mill each were "tyrekickers"

[auckland_bwfc]

Ken - I know you're reading this......

 

 

 

You tank top wearing cunt. 

[HomerJay]

11 minutes ago, Roger_Dubuis said:

No wonder Blackburn, Wigan and Barnsley could attract foreign investment but we couldn't

Potential buyers who wouldn't slip Ken and Fildraw an extra £7 mill each were "tyrekickers"

if the payments are "untoward" then no way would they be claiming them to the administrator.

they will probably be arguing they invoiced the club, but the invoices are not on the accounts.

what those invoices are for, only time will tell.

they could be utter bullshit, or they could be legit. but until they see light of day, only a fool would call it.

[Sluffy]

1 hour ago, Benny The Ball said:

NB Anyone know the context of and what is meant by "Asset Apportionment " at 6.13 ? 

Benny I'm assuming it to mean who owns what shares in FV?

Basran has quit as a director and we are being told via social media that a Keith Morris is going to invest in FV.

This also seems to tie in to the entry at Companies House yesterday for FV?

[tomski]

2 hours ago, Eavesy said:

Fear of playing in front of the fans and the reaction.

especially at places like Leyland. 

Haha. I assume you are joking

[Eavesy]

Hey Ken

i know you’re reading this.

You are a magician to limit of our loss to £4.2m in 2018/19.

top job 

[tomski]

1 hour ago, Boothy said:

So now he can prefix his title by Mighty as well as Esteemed Local Journalist...

Still blaming Iles for all this?

[Eavesy]

1 minute ago, tomski said:

Haha. I assume you are joking

I bet will buckley wouldn’t fancy the reaction after he falls over the ball

[HomerJay]

1 minute ago, Eavesy said:

Hey Ken

i know you’re reading this.

You are a magician to limit of our loss to £4.2m in 2018/19.

top job 

what were the 17/18 losses?

what were the 16/17 losses?

serious question btw

[tomski]

58 minutes ago, birch-chorley said:

Will those accounts ever see the light of day, I thought it was a legal requirement? When were they due? 

As you say, we had the Madine money and Sky payments for being in the championship that season, Ken was talking about a ‘small profit’ 

You’d have expected that we could have got those accounts out Surely? 

No, don’t be silly. Nothing odd in a year accounts missing when we know extra income came in.

[Boothy]

24 minutes ago, tomski said:

Still blaming Iles for all this?

Eh? I've never blamed him for anything. I don't read his stuff cos I generally think his coverage is poor.

[Sluffy]

3 hours ago, Chris Custodiet said:

You read it right the first time, Boby and my estimate was bang on the money.

I haven''t time to read all this today. Needs a bit of thought anyway but something has bothered me about Rubin's approach and the devil's always in the detail.

Just like to highlight and emphasise how accurate your prediction was about the trading loss and it just goes to show how knowledgeable and experienced you are at understanding accountancy and extrapolating information into future years.

There's plenty on here who told us on more than one occasion that nobody, other than those directly involved, would have any idea what future years accounts could possibly look like.

You proved them completely wrong.

You get a harsh (imo) deal on here from several who have taken against you, mainly because of your disdain of Iles comprehension of the facts (particularly financial ones), the behaviour of the ST, Holdsworth part in all this, etc - which I for one share - and how you refer to them - beeno, FIBS, etc.

Well you may not be the most popular poster on here but when it comes to your knowledge and understanding of the club over the last couple of years, then you seem to have few if any peers.

I for one thank you for enlightening us all to what has been happening financially at the club from your professional expertise gained over your lifetime and hope you continue to do so and I eagerly look forward to reading your future comments in due course.

Hope others would like to give well deserved credit to you also.

[kobeer]

24 minutes ago, HomerJay said:

what were the 17/18 losses?

what were the 16/17 losses?

serious question btw

We made a profit of £193,491,571 for the year ending 30 June 2017.

[kobeer]

1 minute ago, kobeer said:

We made a profit of £193,491,571 for the year ending 30 June 2017.