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Kane57

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Argyle have a family zone with segregated concourse which has video games, pool tables with face painters etc for younger ones. Whether it will work in creating a new generation of fans it's too early to tell.

My two are now at the age they want to be where the smoke bombs are being let off.

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10 minutes ago, radcliffewhite1 said:

On paper yes 

but don’t tell me our crowds was accurate, Reading & boro must of been sub 10k

All clubs do the same, obviously ours were more extreme later in the season.

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37 minutes ago, radcliffewhite1 said:

On paper yes 

but don’t tell me our crowds was accurate, Reading & boro must of been sub 10k

Boro was close to 6k

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Club up for sale officially now...

Administrators set price of £25M. £25K needed to access full accounts etc...

Admin has not exactly made this a steal...

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Just now, bwfcfan5 said:

Club up for sale officially now...

Administrators set price of £25M. £25K needed to access full accounts etc...

Admin has not exactly made this a steal...

It comes with a hotel, no debts and 6k fans though

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Just now, Marc505 said:

It comes with a hotel, no debts and 6k fans though

Yep. Still a huge amount in my view for a business that has lost money for 15 years consistently. 

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5 minutes ago, bwfcfan5 said:

Yep. Still a huge amount in my view for a business that has lost money for 15 years consistently. 

I agree that it's probably a bigger figure than expected, it'll definitely sort the wheat from the chaff when it comes to interested parties at least... Hopefully there's some wheat left!

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11 minutes ago, bwfcfan5 said:

Club up for sale officially now...

Administrators set price of £25M. £25K needed to access full accounts etc...

Admin has not exactly made this a steal...

Who’s getting the £25mill ?

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Posted (edited)
1 minute ago, Moon boy said:

Who’s getting the £25mill ?

It will pay off the creditors and settle the Administrators fee I would imagine.

The new owner would get the club AND Hotel, debt free.

Strangely enough identical to what apparently Anderson was asking - for a debt free club and a small profit for himself.

Swap the small profit for himself with the Administrators fee and it seems to be exactly the same deal.

If so it seems the rumours of vast amounts of hidden creditors and dodgy dealings by Ken, are possibly well wide of the mark.

No doubt everything will come out in due time.

Edited by Sluffy
Added a bit more to my original post

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5 minutes ago, Sluffy said:

It will pay off the creditors and settle the Administrators fee I would imagine.

Sorry I appreciate that, but how does it break down, if you can explain, thanks

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13 minutes ago, Sluffy said:

It will pay off the creditors and settle the Administrators fee I would imagine.

The new owner would get the club AND Hotel, debt free.

Strangely enough identical to what apparently Anderson was asking - for a debt free club and a small profit for himself.

Swap the small profit for himself with the Administrators fee and it seems to be exactly the same deal.

If so it seems the rumours of vast amounts of hidden creditors and dodgy dealings by Ken, are possibly well wide of the mark.

No doubt everything will come out in due time.

Was it going to be a debt free club though?

Why was it that no buyers ever wanted to deal with him?

Which ever way you try to dress it, he's a cunt.

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Just now, Moon boy said:

Sorry I appreciate that, but how does it break down, if you can explain, thanks

Difficult for me to say without knowing what is happening with the Administrators at the hotel but in general all footballing creditors (the players, Vince at Forest Green will be paid up in full, the secured creditors (Anderson, James, Warburton, the bank) will be paid in full and all non secured creditors HMRC, the Town Hall, the clubs admin staff wages, etc, will get a minimum of 25p in the £.

I have made a bit of a flippant remark above about the similarity to what the Administrator is asking and what Anderson was but my point really was that if the amount to come out of Administration (ie the sale price of the club) which includes the hotel and presumably car parks and other land etc, then it's doubtful that Anderson has raped and pillaged the club anything like some/many hoped/believed.

As I said though all will be revealed in time no doubt.

 

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1 minute ago, Tonge moor green jacket said:

Was it going to be a debt free club though?

Why was it that no buyers ever wanted to deal with him?

Which ever way you try to dress it, he's a cunt.

That was what the 'taster' document stated it would be.

You've got to ask those who tried to buy the club - but they are probably under NDA's - you could always believe what they say on twitter and Facebook as an alternative though?

Maybe he is, but that doesn't necessarily mean he's acted illegally.

No doubt we will find out more details in due course.

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3 minutes ago, Sluffy said:

Difficult for me to say without knowing what is happening with the Administrators at the hotel but in general all footballing creditors (the players, Vince at Forest Green will be paid up in full, the secured creditors (Anderson, James, Warburton, the bank) will be paid in full and all non secured creditors HMRC, the Town Hall, the clubs admin staff wages, etc, will get a minimum of 25p in the £.

I have made a bit of a flippant remark above about the similarity to what the Administrator is asking and what Anderson was but my point really was that if the amount to come out of Administration (ie the sale price of the club) which includes the hotel and presumably car parks and other land etc, then it's doubtful that Anderson has raped and pillaged the club anything like some/many hoped/believed.

As I said though all will be revealed in time no doubt.

 

Bang on.

During the last few days of Anderson’s tenure it was banded about it would cost £80m to buy the club.

That figure includes about £30m worth on transfers needed to buy a new squad and deal with £6m losses per year.

now its £25m to get the club with no mention of the daily losses, oh and the cost to buy an entire new squad 

 

basically the numbers are bollocks.

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So does this mean that the creditors have agreed to a price? I thought it was going to be an auction based on who offers the creditors the most?

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Nixon saying 17-18million to buy the club and the other 8-7million to show the EFL for future funding.

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45 minutes ago, bwfcfan5 said:

Yep. Still a huge amount in my view for a business that has lost money for 15 years consistently. 

Uber is worth about $100m and will never trade at a profit. 

£25m seems about right based upon what we know about the secured creditors and then applying the discount to the unsecured. 

I cannot see the future funding that the efl want proof of dropping though as we will run at an expected loss of well north of £5m per season I imagine for the next two years. But happy to be proven to wrong. 

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5 minutes ago, Pricey said:

So does this mean that the creditors have agreed to a price? I thought it was going to be an auction based on who offers the creditors the most?

I guess there's no reason why potential purchasers could not offer more than the advertised price?

I'm guessing that the £25m would be the minimum amount in order to exit Administration in accordance with the EFL rules, so a higher accepted offer for the club would no doubt mean that the unsecured creditors would receive more than the minimum 25p in the £ they probably would only get if the club was sold for the £25m asking price.

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Wasn't Nixon saying a solvent sale would have cost around £41m, so basically almost half the price now, bargain for somebody.

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So to the so called 'In the know' people on here is it feasible someone will buy the club at that price and bring in enough quality players to compete in L1?

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The leaked brochure where £25 million was originally proposed was October 2017...

https://lionofviennasuite.sbnation.com/2017/10/5/16432302/revealed-bolton-wanderers-for-sale-yours-for-25m

Since then, Ken has admitted to refraining from funding the club and therefore debts will now have built up again. That's probably where the £41.6 million came from that Nixon mentioned.

Never saw 80 million mentioned in the press, but it was speculated on here, I remember, that for Bassini to do his three-year-plan it would be around 70 something million. 

Presumably this new 25 million figure is 100% of the secured debt paid off and whatever percentage the unsecured creditors are "happy" to be paid. Then you can add on all the speculated costs of how much money we will lose per annum and how much money we will have to spend on players, coaches etc...

It's a lot of money to dish out for a League One club that's got very little football structure at the moment. Hopefully there's someone with more money than sense (but not too big a ratio) that will pick us up on the "cheap" and get us back to being a normal club again. 

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Whoever buys it would surely be doing so with the intention of competing at that level and then above for that level of outlay albeit at that level the assets should exceed the cost I imagine so a safe investment with a clear deck 

also need to remember depending on who buys it some of our secured creditors may choose to do debt/equity swap thus reducing the initial purchase price 

most definitely not ITK just plain business sense that really 

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Buy the club then sort out a squad of players and manager

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