Take Over

[fatolive]

8 hours ago, Keayedwhite10 said:

He couldn’t look a bigger twat if he tried

course he could, he could be in a Wigan tracksuit..

[bwfcfan5]

1 hour ago, barrycowdrill said:

The club isn’t being bought for its footballing side. It’ll be a nice healthy bonus if the team is successful and gets back to the ‘promised land’ 

but right here, right now, it’s interesting people for everything but. 

My figues May be slightly skewed here but prior to the sale of the car park and Euxton the ‘assets’ were valued at circa £80m? 

Take say £10m off that now, if your buying a company for £40m and it’s immediatly worth £70m to you then it’s an exciting proposition. What you then do with those assets to maximise ROI is up to you. 

The small matter of a lower league football team attached  is something that’s a bit of an inconvenience. And low on the priority list initially. If it starts an upturn then you can speculate to accumulate further. It that then pays off... 

kerching!!! 

I don't believe that number for a second - they may be valued there but on the market I don't think they'd get half way...

But regardless assets are only useful if you can either borrow against their value or realise their value through sale or profit. And none of those things are that easy to do here....

[Tonge moor green jacket]

I'm wondering if the efl could hit us with some sort of suspended punishment in addition to the twelve points.

Maybe for a period of three years or so; another 10 points for example, that won't be imposed so long as the club behaves, pays people on time etc.

[barrycowdrill]

2 minutes ago, Tonge moor green jacket said:

I'm wondering if the efl could hit us with some sort of suspended punishment in addition to the twelve points.

Maybe for a period of three years or so; another 10 points for example, that won't be imposed so long as the club behaves, pays people on time etc.

Exactly what I was referring to. Depending on our conduct. Financial behaviours etc. 

First sign of any other delays in pay we automatically activate a further points deduction 

[Razaldo9]

I'm not sure how much sense it makes to let it go to admin, maybe we will only find out when we see who takes over.

But 1 year in league 1 is apparently 6m. What if we're relegated as we can't get a squad together? 3 years minimum with back to back promotions, £12m more lost income compared to if we got up this year. 

There's no guarantee we'd go up if they'd bought us outright, so maybe they just want the lowest costs now.

[Burndens Bogs]

4 hours ago, Take Hunt Off said:

Think the Chinese interest will evaporate unfortunately leaving a smaller consortium of  a more local interest with maybe an outside backer its all had to be done on the cheap given the huge cost/ debt issues & complications between Moonshift & Sweaty.

Just guessing of course.

Yeh that would be my guess too.       Even if we did have Chinese interest it would likely be from a chippy on Tonge Moor Rd, rather than megabucks investors - this being BWFC ‘an all that.

[sleepingindian]

the press release from efl about us going in admin said nothing about embargo just -12pts

 

[Zico]

2 hours ago, HomerJay said:

is an extra year in league one really worth saving X number of millions?

Depends if you can guarantee an instant return, given over half the squad will have fucked off either way

Any new owner may see more than one season in league one as inevitable and factored this into their plan

[sleepingindian]

1 minute ago, ZicoKelly said:

Depends if you can guarantee an instant return, given over half the squad will have fucked off either way

Any new owner may see more than one season in league one as inevitable and factored this into their plan

marc has said pp is working with administraters to try keep youth players. be a bloody shame if most of them leave especialy the better one. 

[Tonge moor green jacket]

PP should be a board member or some such.

Terrible football player, but he seems determines to do right by the club. Sorted it out previously when ken was looking at admin.

Don't want him as manager as we move forward, but can't knock him for his efforts in respect of the club's well-being.

[sleepingindian]

1 minute ago, Tonge moor green jacket said:

PP should be a board member or some such.

Terrible football player, but he seems determines to do right by the club. Sorted it out previously when ken was looking at admin.

Don't want him as manager as we move forward, but can't knock him for his efforts in respect of the club's well-being.

so true. evan though he will likely to be let go by new owners he aint half doing his best for the club and helping out

[BIGBW]

Not sure why people on here think that someone would buy the club just to gain access to some of the surrounding property or assets. In this type of situation, I assume the assets can be carved up and sold separately if this brings in the wanted return for creditors. 

[HomerJay]

4 minutes ago, BIGBW said:

Not sure why people on here think that someone would buy the club just to gain access to some of the surrounding property or assets. In this type of situation, I assume the assets can be carved up and sold separately if this brings in the wanted return for creditors. 

who thinks that?

[DomRepWanderer]

Parkinson like John McGovern were/are shit managers, but both totally have/had their hearts in the club.

[bwfc2003]

Different administrators appointed at hotel

[hughmungus]

8 minutes ago, bwfc2003 said:

Different administrators appointed at hotel

Think the hotel may end up being a management buy out from admin, its has been mentioned before and Suzanne the GM knows some serious people in the hospitality game. Would be the best option imo. 

[HomerJay]

hotel is a good business. was the only part of the "group" actually making money until last year.

wouldnt be surprised to see a hotel chain snap it up on the cheap.

[bwfcfan5]

Just now, HomerJay said:

hotel is a good business. was the only part of the "group" actually making money until last year.

wouldnt be surprised to see a hotel chain snap it up on the cheap.

Running it is one thing. Owning a hotel that is built into the infrastructure of a football ground is probably unlikely for any major hotel chain. 

[Matt Lofthouse]

4 hours ago, DazBob said:

They still run at a loss.

Yes, but apart from that. 😂

[Mantra]

4 hours ago, Boby Brno said:

Interesting that the administrators are talking to the various fans sites including WW. Should get some genuine input for once.

Where was this mentioned? I'm sure I read it earlier but can't find it now.

[BIGBW]

Just now, Mantra said:

Where was this mentioned? I'm sure I read it earlier but can't find it now.

Yes -- Saw something about WW speaking to the administrator's PR firm. Has there been any communication about this on here? Would be nice to know what they had to say. 

[Mantra]

Doesn't sound like much is going to happen for a little while if the BN is anything to go by, today.

"A team of 10 accountants have now set about assessing the financial position of parent company Burnden Leisure Limited and Bolton Wanderers Football and Athletic Club, starting virtually from scratch.

The fact-finding mission is likely to go on for the rest of this week before a ‘statement of affairs’ is produced detailing the assets and liabilities for both companies. That will be the starting point for any sales process."

So, waiting for the accountants to sort through the sludge which will conclude in a 'statement of affairs'. Then probably early next week, we might hear something about the sale process beginning.

Then we are on the market for 3 weeks although it's been suggested that this could be bypassed if no one stands in the way.

If it can't be bypassed, that takes the sale process into mid June, and that's just the minimum amount of time the club will be on sale for. It could go on for longer. This thread could be mammoth by the time it's all done.

[bwfcfan5]

8 minutes ago, Mantra said:

Doesn't sound like much is going to happen for a little while if the BN is anything to go by, today.

"A team of 10 accountants have now set about assessing the financial position of parent company Burnden Leisure Limited and Bolton Wanderers Football and Athletic Club, starting virtually from scratch.

The fact-finding mission is likely to go on for the rest of this week before a ‘statement of affairs’ is produced detailing the assets and liabilities for both companies. That will be the starting point for any sales process."

So, waiting for the accountants to sort through the sludge which will conclude in a 'statement of affairs'. Then probably early next week, we might hear something about the sale process beginning.

Then we are on the market for 3 weeks although it's been suggested that this could be bypassed if no one stands in the way.

If it can't be bypassed, that takes the sale process into mid June, and that's just the minimum amount of time the club will be on sale for. It could go on for longer. This thread could be mammoth by the time it's all done.

The accountants are doing the legal part of the admin process. Putting together the financial picture. I suspect doing that in 3/4 days will be unlikely. 

After they have done that the business will be valued - as will its constituent parts and then the administrators must decide the best course of action and document all this in a report.

Then the business (or parts of it) can be offered up for sale. I suspect it'll be a few weeks yet before we get to that point.

It is a good sign though that interested parties have approached the administrator already. It means that the administrator can with confidence proceed - assuming those people are real and can deal at a price that satisfies creditors. 

[Mounts Kipper]

16 minutes ago, bwfcfan5 said:

The accountants are doing the legal part of the admin process. Putting together the financial picture. I suspect doing that in 3/4 days will be unlikely. 

After they have done that the business will be valued - as will its constituent parts and then the administrators must decide the best course of action and document all this in a report.

Then the business (or parts of it) can be offered up for sale. I suspect it'll be a few weeks yet before we get to that point.

It is a good sign though that interested parties have approached the administrator already. It means that the administrator can with confidence proceed - assuming those people are real and can deal at a price that satisfies creditors. 

Where does it say there are interested parties? 

[bwfcfan5]

Just now, Mounts Kipper said:

Where does it say there are interested parties? 

In the Bolton News report from this morning.