Benny The Ball Posted July 25, 2019 Share Posted July 25, 2019 8 minutes ago, Mounts Kipper said: Lined up a buyer? The same buyer who’s been on the scene since before administration and one who’s seemingly reluctant to complete. Shit job done in my eyes. They have presided over a flawed process Accepted a conditional offer that was not in their gift to accept and then the hotel administrator wrongly delayed marketing the hotel so it is impossible to do a sale and purchase of two intrinsically linked businesses at the same time So yes I am with you on that - Shit Job done thus far Link to comment Share on other sites More sharing options...
bwfcfan5 Posted July 25, 2019 Share Posted July 25, 2019 5 minutes ago, Sluffy said: Really??? The Administrator hasn't got any monies to pay them with (the £1m deposited plus what's remaining in the club isn't enough to clear the full amount of wages owing) JV don't seem to want/are unable to put more in until the hotel is secured. EFL wants someone to financially guarantee that if the club is allowed to start the season it can finish it. If the players wont play until they are paid in full then JV can't give that undertaking. The EFL refuses to allow BWFC to enter the league for the coming season. JV then has no reason to want the club anymore - nor would anyone else. They walk away. BWFAC is liquidated. OR Players accept to defer full payment of wages for a couple of years and don't strike. Club saved. Its not that simple is it? If the hotel is the hold up then FV won't complete till that process concludes. As it stands we don't have enough players on contract and the administrator is not able to commit to signing contracts without the guarantee that FV (one assumes) are unable or unwilling to provide. So even if players deferred wages (and that has some interesting consequences for them in terms of their contractural status and ability to move clubs) the problem wouldn't be fixed. We'd still have the problem of fielding a team for the first game. Then you have the EFL squad restrictions issue. If we throw kids in they are then our squad. Which further complicates things because any subsequent sale leaves a buyer with their hands tied for the foreseeable future. Link to comment Share on other sites More sharing options...
Chris Custodiet Posted July 25, 2019 Share Posted July 25, 2019 1 hour ago, RoadRunnerFan said: Understand your frustration with Iles, though I think he has raised his game recently. Conn is a good journalist, and whilst the article which has offended you was awful, it's about 13 years old. Maguire is not a journalist, he's someone journalists turn to for help in situations like this, his credentials are excellent. Knock yourself out with acronyms if that's what floats your boat, don't expect anyone else to find it funny though. That article wasn't just plain stupid, it was the product of an attitude and mentality that hasn't changed and frankly never will change, just as Iles will never change. Iles is OK if he sticks to football but you may have noticed that the esteemed and mighty Marc Iles didn't get Bonnar's job when he decided to retire - not a moment too soon. Link to comment Share on other sites More sharing options...
Wanderlust Posted July 25, 2019 Share Posted July 25, 2019 (edited) 24 minutes ago, Sluffy said: Really??? The Administrator hasn't got any monies to pay them with (the £1m deposited plus what's remaining in the club isn't enough to clear the full amount of wages owing) JV don't seem to want/are unable to put more in until the hotel is secured. EFL wants someone to financially guarantee that if the club is allowed to start the season it can finish it. If the players wont play until they are paid in full then JV can't give that undertaking. The EFL refuses to allow BWFC to enter the league for the coming season. JV then has no reason to want the club anymore - nor would anyone else. They walk away. BWFAC is liquidated. OR Players accept to defer full payment of wages for a couple of years and don't strike. Club saved. There are parallels here to "keeping the no deal Brexit option on the table as a negotiating tool". Both scenarios stink of "give me what I want or I'll commit suicide". In our case, we have Anderson, James and the EFL - all of whom profess to have the club's interests at heart and yet despite allegedly having a common goal (to save the club) they are incapable of coming to a compromise situation whereby they share the pain in order to strike a deal. Administrators can't be blamed for that given their role although perhaps they should be banging heads together until the parties understand that there is not enough meat on the bone for everyone to get everything they want and that the only solution is for a compromise to be reached. It's almost like playing a game of chicken with our club and the winner will be the one who gives the least f***s about what happens to us. Edited July 25, 2019 by Hoppy510 Link to comment Share on other sites More sharing options...
tomski Posted July 25, 2019 Share Posted July 25, 2019 56 minutes ago, bwfcfan5 said: Their job is to try and save the business and maximise the return for creditors. If that cannot be done then they have to liquidate. They've very much done their job. They've lined up a buyer and are ready to complete. Not their fault that said buyer want to buy another separate business from a separate administration process. One way of looking at it. In my head the job was to find a buyer as a fan. They haven’t as of yet. I realise that opinion is subjective but it’s where I’m at. Link to comment Share on other sites More sharing options...
Matthew1234 Posted July 25, 2019 Share Posted July 25, 2019 I genuinely thought the takeover would have to happen this week for us to stand any hope. It's fading fast Link to comment Share on other sites More sharing options...
Sluffy Posted July 25, 2019 Share Posted July 25, 2019 16 minutes ago, bwfcfan5 said: Its not that simple is it? If the hotel is the hold up then FV won't complete till that process concludes. As it stands we don't have enough players on contract and the administrator is not able to commit to signing contracts without the guarantee that FV (one assumes) are unable or unwilling to provide. So even if players deferred wages (and that has some interesting consequences for them in terms of their contractural status and ability to move clubs) the problem wouldn't be fixed. We'd still have the problem of fielding a team for the first game. Then you have the EFL squad restrictions issue. If we throw kids in they are then our squad. Which further complicates things because any subsequent sale leaves a buyer with their hands tied for the foreseeable future. Well I believe it is that simple. There are only two secured creditors on the hotel James and Ken (and we are told Ken is now sorted). We believe the 'interest' and the consequential inflation of price for the hotel is because some (Fawaz, Bassini/Sullivan) believe they can gain ownership to the club by buying the hotel - but if the club is bought first, then do they really want to just simply own a hotel? I doubt it. Seems the immediate problem is that JV don't have enough up front cash to pay the players in full until the hotel is resolved If some deal can be struct with the players everything falls into line - maybe they do take a risk on being out bid on the hotel but I would have thought a CVA would have been achieved by now and still believe it to be the probable outcome. So if the players can accept some compromise, JV can commit to buy the club, which in turn removes those such as Fawaz apparently seeking to get the club with the hotel, which drops the interest/price on the hotel putting FV as clear favourites to take ownership of it, which allows JV to pursue their original plan which the EFL has already approved, which will allow the EFL to grant the club to partake in the league, which in turn triggers the recruiting of players that have been lined up during the last few weeks. In other words all systems go - apart from the players being on board. Fwiw the players will get ALL the money they are owed - everybody else unsecured will only be getting 35p in the £. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted July 25, 2019 Share Posted July 25, 2019 12 minutes ago, tomski said: One way of looking at it. In my head the job was to find a buyer as a fan. They haven’t as of yet. I realise that opinion is subjective but it’s where I’m at. Only Football Ventures paid the £25K fee to look at the books. I think that tells you seriously how little interest there is in buying Bolton Wanderers Football Club. That is not fault of administrators. ED tried to sell and ended up giving it to the cockney chancers for £1. KA tried to sell and only had FV and mentalist Bassini with his "emails". The admins cannot magic up someone to buy a club. They found the best bet (the only bet it seems) and said bet hasn't been able to or wanted to complete the deal yet. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted July 25, 2019 Share Posted July 25, 2019 1 minute ago, Sluffy said: Well I believe it is that simple. There are only two secured creditors on the hotel James and Ken (and we are told Ken is now sorted). We believe the 'interest' and the consequential inflation of price for the hotel is because some (Fawaz, Bassini/Sullivan) believe they can gain ownership to the club by buying the hotel - but if the club is bought first, then do they really want to just simply own a hotel? I doubt it. Seems the immediate problem is that JV don't have enough up front cash to pay the players in full until the hotel is resolved If some deal can be struct with the players everything falls into line - maybe they do take a risk on being out bid on the hotel but I would have thought a CVA would have been achieved by now and still believe it to be the probable outcome. So if the players can accept some compromise, JV can commit to buy the club, which in turn removes those such as Fawaz apparently seeking to get the club with the hotel, which drops the interest/price on the hotel putting FV as clear favourites to take ownership of it, which allows JV to pursue their original plan which the EFL has already approved, which will allow the EFL to grant the club to partake in the league, which in turn triggers the recruiting of players that have been lined up during the last few weeks. In other words all systems go - apart from the players being on board. Fwiw the players will get ALL the money they are owed - everybody else unsecured will only be getting 35p in the £. Your assumption is the reason they want to buy the hotel is for upfront cash to pay the players. If that assumption is correct then yes said compromise would work. But there may be other reasons as to why they want the hotel guaranteed before completing the club deal.... Link to comment Share on other sites More sharing options...
Lt. Aldo Raine Posted July 25, 2019 Share Posted July 25, 2019 Who are JV? Anyway, for what it's worth, Nixon suggested last night that Fawaz is no longer interested. Link to comment Share on other sites More sharing options...
Sluffy Posted July 25, 2019 Share Posted July 25, 2019 1 minute ago, bwfcfan5 said: Your assumption is the reason they want to buy the hotel is for upfront cash to pay the players. If that assumption is correct then yes said compromise would work. But there may be other reasons as to why they want the hotel guaranteed before completing the club deal.... Thank you for your reply. https://en.wikipedia.org/wiki/Teaching_grandmother_to_suck_eggs Have a nice day. Link to comment Share on other sites More sharing options...
Benny The Ball Posted July 25, 2019 Share Posted July 25, 2019 10 minutes ago, Matthew1234 said: I genuinely thought the takeover would have to happen this week for us to stand any hope. It's fading fast Remember "Supera Moras " worn as the club motto on shirts over many decades - highly relevant to this situation Link to comment Share on other sites More sharing options...
Sluffy Posted July 25, 2019 Share Posted July 25, 2019 2 minutes ago, Lt. Aldo Raine said: Who are JV? Anyway, for what it's worth, Nixon suggested last night that Fawaz is no longer interested. Sorry meant FV. I've been writing a report on a Joint Venture scheme and the initials JV have clearly got stuck in my head. Apologies. Best check if I've put FV in my report by error now too! Link to comment Share on other sites More sharing options...
Burndens Bogs Posted July 25, 2019 Share Posted July 25, 2019 10 minutes ago, Lt. Aldo Raine said: Who are JV? That'll be the Johnny Vegas consortium. Link to comment Share on other sites More sharing options...
Lt. Aldo Raine Posted July 25, 2019 Share Posted July 25, 2019 10 minutes ago, Sluffy said: Sorry meant FV. I've been writing a report on a Joint Venture scheme and the initials JV have clearly got stuck in my head. Apologies. Best check if I've put FV in my report by error now too! Fair enough. I thought there might have been mystery fourth director I didn't know about for a minute there. Link to comment Share on other sites More sharing options...
Lt. Aldo Raine Posted July 25, 2019 Share Posted July 25, 2019 11 minutes ago, Burndens Bogs said: That'll be the Johnny Vegas consortium. Haha! Link to comment Share on other sites More sharing options...
Blondi Posted July 25, 2019 Share Posted July 25, 2019 Today's the day when FV announce the takeover. Link to comment Share on other sites More sharing options...
DomRepWanderer Posted July 25, 2019 Share Posted July 25, 2019 20 minutes ago, Blondi said: Today's the day when FV announce the takeover. Somehow I doubt that. Link to comment Share on other sites More sharing options...
bwfcfan5 Posted July 25, 2019 Share Posted July 25, 2019 39 minutes ago, Blondi said: Today's the day when FV announce the takeover. Definitely isn't I'm afraid. Link to comment Share on other sites More sharing options...
Breightmet Boy Posted July 25, 2019 Share Posted July 25, 2019 1 hour ago, Burndens Bogs said: That'll be the Johnny Vegas consortium. Thank God for that, I thought it was them that sell The Watchtower magazine in Germany, Jehovah's Vitnesses. Link to comment Share on other sites More sharing options...
Pricey Posted July 25, 2019 Share Posted July 25, 2019 I have it on good authority that the takeover will not be concluded today Link to comment Share on other sites More sharing options...
bwfcfan5 Posted July 25, 2019 Share Posted July 25, 2019 4 minutes ago, Pricey said: I have it on good authority that the takeover will not be concluded today Or tomorrow... Link to comment Share on other sites More sharing options...
Pricey Posted July 25, 2019 Share Posted July 25, 2019 11 minutes ago, bwfcfan5 said: Or tomorrow... Fed up of hearing that it is going to be completed and then it doesn't, so thought if I say it wont then it will. Wishful thinking I suppose Link to comment Share on other sites More sharing options...
stimmau5 Posted July 25, 2019 Share Posted July 25, 2019 (edited) EFL statement on Bury - https://www.efl.com/news/2019/july/efl-statement-bury-fc2/ I thought we were in a worse position than Bury, seems thats maybe not the case. Edited July 25, 2019 by stimmau5 Link to comment Share on other sites More sharing options...
Mounts Kipper Posted July 25, 2019 Share Posted July 25, 2019 Just now, Pricey said: I have it on good authority that the takeover will not be concluded today I do hope so, but very much doubt what you say. Link to comment Share on other sites More sharing options...
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