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Wanderers Ways. Neil Thompson 1961-2021

Take Over


Kane57

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Is there not a legal requirement to market the hotel for a minimum period?

In order to give every chance for creditors to receive the maximum return

If so, then there's no way a deal for club and hotel is sorted any time soon

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1 hour ago, bwfcfan5 said:

It’s amazing how clueless Nixon is about the process yet so determined he is right. The bloke doesn’t seem to get that if someone, anyone had 25M to put straight down that we’d have been sold months and months ago. And that has been the case for the past few years...

£25m is only enough now we are in administration and are able to write off a chunk of the unsecured 

‘months’ ago it was circa £40m and that figure was putting interested parties off 

Apparently 

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10 hours ago, bwfcfan5 said:

This. Assuming we can of course. Amazing how our fans will point fingers at United fans or City fans for being glory hunting JCLs. Yet when put to the test don’t seem that interested in keeping BWFC alive. Amazing also how quality of football even comes into this conversation. The next season is not about football or results or players or managers but simply about having a club at the end of it.

We had a club against boro so why didn't people turn up? Because it's shite. People are pissed off with this shite. It used to be about the football now its about the money, my dad's been going for ever, he can't be arsed anymore. His he a shit fan? Part timers aren't just leaving its the die hards, I'll still be around because I'm fucking stupid. 

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7 minutes ago, darrener said:

Bollocks 

You keep kidding yourself

No self respecting fan would choose not to come against Coventry

Anyway, do wtf you want, I'm not overly arsed

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2 minutes ago, darrener said:

We had a club against boro so why didn't people turn up? Because it's shite. People are pissed off with this shite. It used to be about the football now its about the money, my dad's been going for ever, he can't be arsed anymore. His he a shit fan? Part timers aren't just leaving its the die hards, I'll still be around because I'm fucking stupid. 

And when did whether we were any good come into it

You either support us or you don't

I get it many will disagree but that's how I was brought up with football

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Just now, Casino said:

You keep kidding yourself

No self respecting fan would choose not to come against Coventry

Anyway, do wtf you want, I'm not overly arsed

But you are, I'll be there but a lot won't doesn't make them shit fans just people pissed off with the situation. Lots on here giving it the loyal fan bollocks but didn't go against boro. Double standards 

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4 minutes ago, Casino said:

Months ago, the prospectus said 25 million, debt free

why did FV pull out the first time, If was down to the fact that the debt was much higher than anticipated wasn’t it? 

Given its £25m now and we are writing off a truck load, it could well mean the prospectus was inaccurate 

We didn’t rack up another £10m - £15m in losses since March surely 

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26 minutes ago, darrener said:

But you are, I'll be there but a lot won't doesn't make them shit fans just people pissed off with the situation. Lots on here giving it the loyal fan bollocks but didn't go against boro. Double standards 

I don't understand why you would not go and watch it because you are pissed off with what is happening (or not happening) behind the scenes?

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Just now, Casino said:

Doing what?

Think he meant going. 

Bassini says he’s going to the Nat Lofthouse statue tomorrow to meet the fans and prove himself. 

Should be fun. 

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1 hour ago, Casino said:

Is there not a legal requirement to market the hotel for a minimum period?

In order to give every chance for creditors to receive the maximum return

If so, then there's no way a deal for club and hotel is sorted any time soon

As the Administrator said in his report, there is a hierarchy of aims, the first is to keep the company trading (and he talks about doing it by a CVA), and secondly, in the best interests of the creditor, namely by a sale.

There are only two secured creditors listed KA and James.

If there was no agreement between the two major creditors as to the way forward, then a CVA is not an option...

...but what if one of the secured creditors changes their minds and there is an agreement on the way forward, then I suggest that even if a sale process had in the meantime begun, that it can be withdrawn and a CVA can go ahead at very short notice.

Looks to me that Anderson wanted his money back in full as a secured creditor, created a fake demand for the hotel (Bassini/Sullivan/Fawaz), refused an option of a CVA and sat back and waited.  The Administrator was forced to go down the 'sale' route, which pushed the timescale beyond the start of the season and forced JV to do a deal.

If my reasoning is correct the hotel sale to JV through PBP's head claim and KA's 'objections being settled and in agreement with the CVA, could go through more or less immediately, and presumably hand in hand with that of the club - and negates carrying on with the sale process.

All that's needed is for JV to stump up the required cash (which I assume they have in place) and BWFC lives to fight another day.

Edited by Sluffy
Grammar errors
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12 hours ago, Sluffy said:

There's been no billionaires queueing up to buy us, so you're left with one side wanting to make the most out of the sale as possible and the other being strapped for cash.

There's no one else at the party or they would have bid for the club - Fawaz has loads of money apparently, where was he at the time the club was on offer?

This will go on until someone, probably the EFL, says right, times up, if it's not done now it is all off.  

That means the end of the club.

Means also the hotel becoming less attractive to those who wanted the club with the hotel and not just the hotel on its own.

Means probably a lower sale price for the hotel.

Means less money for the creditors at the bottom of the food chain - potentially even Ken.

Can't see him wanting that and no doubt he's telling the hotel Administrator too who should be working for his creditors best interests.

So a no deal would lead to the extinction of BWFC and possibly a significant loss for KA.

That's why I believe a deal will be done even if that means waiting for the last possible second to do so.

Is a single word of this fact Sluffy or is it all absolute conjecture on your behalf as usual?

I'm thinking conjecture unless you have anything to share with us that can be proven.

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9 minutes ago, Benny The Ball said:

For those up and about feature on BWFC coming up on radio 5 " wake up to money " shortly 

Wake up to no money?!

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19 minutes ago, boltondiver said:

Wake up to no money?!

That's our future -  when / if we are saved !!

Transpired to be a 5 minute interview with Steven Battersby - and to be fair - was the  first time I have ever heard mention of the Hotel situation - frankly at this stage anything that shines a light onto the separate agendas of the two administrators is welcome - they wont welcome the media attention  on what they are doing

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8 hours ago, birch-chorley said:

£25m is only enough now we are in administration and are able to write off a chunk of the unsecured 

‘months’ ago it was circa £40m and that figure was putting interested parties off 

Apparently 

Point still stands that anyone who had 25M quid ready to go could have bought us at any point in the past two years. Forget the debt being higher that sort of cash up front would have absolutely blown the doors off. FV don’t have it and that’s why there are delays. Making agreements. Staggering payments etc. But Nixon is deluded if he thinks anyone will come in and just throw 25M at it. If they were doing that they’d already be here.

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6 minutes ago, bwfcfan5 said:

Point still stands that anyone who had 25M quid ready to go could have bought us at any point in the past two years. Forget the debt being higher that sort of cash up front would have absolutely blown the doors off. FV don’t have it and that’s why there are delays. Making agreements. Staggering payments etc. But Nixon is deluded if he thinks anyone will come in and just throw 25M at it. If they were doing that they’d already be here.

Do you know that FV don’t have it? I only ask because if I was buying something I wouldn’t go on about how minted I was till the transaction was at minimum completed?

They may well not be minted but do you know or are you speculating?

Edited by tomski
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