Take Over

[Okocha10]

We will 

3 minutes ago, bwfcfan5 said:

Until its all signed by all parties then what starts as legal paperwork can rapidly become "we need to renegotiate these elements". 

You might have everything agreed and one party may want slight change to terms that affects material parts of deal at last minute. It is also possible that having agreed everything ready to be signed another offer for the hotel meant the administrators had to re-visit things. Loads of things can happen from "agreed deal" to done deal. Doesn't mean it wasn't agreed Thursday. Then Friday - something materially changed. 

Im really not certain they have had a deal agreed for hotel at all, we will wait & see but this deal for the hotel wont be agreed till Quantuma deadline passes, heard so much shite saying the deal is going to be agreed in next 24 hours to many times now.

[Mantra]

Imagine Boohoo or some back door hotel dealers get over the line ahead of FV. Whatever happens just hope it is over soon.

Funny how Nixon has actually been more accurate than most of us would care to admit.

If Quantuma are determining the final deadline of the deal on both fronts, I wonder how long it’ll be from Friday that it is finalised.

Remember we have until September for transfers and now we’ve played one game in admin, see no reason that we can’t carry on. Don’t think EFL would care if someone other than FV get it, as long as it’s sorted.

Edited August 5, 2019 by Mantra

[bwfcfan5]

Just now, Okocha10 said:

We will 

Im really not certain they have had a deal agreed for hotel at all, we will wait & see but this deal for the hotel wont be agreed till Quantuma deadline passes, heard so much shite saying the deal is going to be agreed in next 24 hours to many times now.

Iles seems to think they did but that a contractural change held things up. Also note he doesn't say it will be done it next 24 hours - he says "could if all goes well". That to me would read its likely to be longer than 24 hours in reality.

Reading between the lines (and I could be wrong) it sounds like Iles has spoken to Quantuma who are to me saying "FV will get it if they want it but we're doing it by the book". 

[ProfessorWoland]

1 minute ago, Mantra said:

Imagine Boohoo or some back door hotel dealers get over the line ahead of FV. Whatever happens just hope it is over soon.

Funny how Nixon has actually been more accurate than most of us would care to admit.

If hotel are determining the final deadline of the deal on both fronts, I wonder how long it’ll be from Friday that it is finalised.

Remember we have until September for transfers and now we’ve played one game in admin, see no reason that we can’t carry on. Don’t think EFL would care if someone other than FV get it, as long as it’s sorted.

You would surely be taking a big risk buying the hotel and then seeing FV walk away and the club being liquidated, what value is there in the hotel if the club disappears?

[bwfcfan5]

1 minute ago, Mantra said:

Imagine Boohoo or some back door hotel dealers get over the line ahead of FV. Whatever happens just hope it is over soon.

Funny how Nixon has actually been more accurate than most of us would care to admit.

If Quantuma are determining the final deadline of the deal on both fronts, I wonder how long it’ll be from Friday that it is finalised.

Remember we have until September for transfers and now we’ve played one game in admin, see no reason that we can’t carry on. Don’t think EFL would care if someone other than FV get it, as long as it’s sorted.

I think there is substantial points of difference between what Iles and Nixon are saying - I think Nixon is deliberately spinning out a timescale that clearly is not as set in stone. Its also clear things were about to complete Friday before a contractural change scuppered it.

If FV want hotel - given James is major secured creditor then in reality it is highly likely they get it. 

[bwfcfan5]

Marc Iles

 

@MarcIles

Replying to

@Radixlecti1

@barryroscoe

and

@JME19742

Nope. FV bid was ready to be submitted until someone (I bet you can guess) wanted a change in the contract. Then it goes back around the houses to be signed off, etc.

Edited August 5, 2019 by bwfcfan5

[Okocha10]

3 minutes ago, bwfcfan5 said:

@MarcIles

@Radixlecti1

@barryroscoe

and

@JME19742

Nope. FV bid was ready to be submitted until someone (I bet you can guess) wanted a change in the contract. Then it goes back around the houses to be signed off, etc.

If that's the case what's to stop him asking for changes to the contract till the deadline?

[bwfcfan5]

3 minutes ago, Okocha10 said:

If that's the case what's to stop him asking for changes to the contract till the deadline?

There is no deadline - he can drag it out forever - at some point Quantuma could I think force deal through without his consent but that takes time and is messy and relies on Quantuma taking the risk (that's my terrible understanding of things here).

The threat for Ken would be liquidation of club and hotel meaning he'd lose out on lots of money and his running of the business come under scrutiny he wouldn't want. In a way playing the first game has helped him - he knows he can drag it out. The counter would be if admins say "Saturday can't take place without the takeover signed off and done". That might be the only way to get this over the line. 

[Damocles]

Isn’t the issue Nixon alludes to simply that the FV bid requires PBP to effectively transfer £5.5M in to some kind of equity (or write off) whereas another bidder would see the £5.5M repaid? 

If Tom Morris has been told all along that the best way of getting his money back is to support FV and hope for a future return, surely another bidder and £5.5M in his pocket might be tempting?

[Leyther_Matt]

35 minutes ago, ProfessorWoland said:

Is there still the capability at the ground to take cash on the turnstile or has this been discarded in favour of an all electronic system?

We have cash turnstiles for cup games so I don’t see why not if push came to shove. 

[Widnes Two Hats]

This made me smile, sums up Nixon and Iles

 

Alan Fudson

 

@reluctantThicko

 

You can hear me here getting my exclusives with future Bolton chairwoman. I don’t have sources. I get it straight from their mouths. I asked Sharron if it had been done. She didn’t say yes. It’s not been done yet

 

 

[Sluffy]

I think I can understand what will happen from Iles tweets - ignore Nixon for now.

In this tweet from Iles today he is saying the bid for the hotel was ready to be submitted - until it was delayed again (ignore Anderson for now also)

In this tweet he saying hotel bid need not wait until Friday - a CVA can be agreed before hotel deadline date.

Seems to me therefore that once FV bid is finally submitted for the hotel, the hotel Administrator will accept it, a CVA completed and both the sale of the hotel AND club will be finally completed - and ahead of Saturdays game.

That's how I read from what is being put into the public domain.

We'll find out soon enough anyway.

[bwfcfan5]

3 minutes ago, Sluffy said:

I think I can understand what will happen from Iles tweets - ignore Nixon for now.

In this tweet from Iles today he is saying the bid for the hotel was ready to be submitted - until it was delayed again (ignore Anderson for now also)

In this tweet he saying hotel bid need not wait until Friday - a CVA can be agreed before hotel deadline date.

Seems to me therefore that once FV bid is finally submitted for the hotel, the hotel Administrator will accept it, a CVA completed and both the sale of the hotel AND club will be finally completed - and ahead of Saturdays game.

That's how I read from what is being put into the public domain.

We'll find out soon enough anyway.

Well and that Ken is deliberately getting in the way. That's pretty clear too. 

Also does a CVA not require about 14 days to sign off on?

Edited August 5, 2019 by bwfcfan5

[Sluffy]

1 minute ago, bwfcfan5 said:

Well and that Ken is deliberately getting in the way. That's pretty clear too. 

Whether you, me or anyone else likes it or not, Anderson stands/stood to lose around £3.5m from the sale of the hotel if the selling price was £5.5m or less (the amount James/PBP had first claim on).  If he's 'played' everyman and his dog in order to not lose it, then wouldn't you do the same in his position - I know I'd fight not to lose £3.5m if I could avoid it.

It's pointless to argue the toss if it was Eddies money or not, or whether Eddie intended to get it back or not - as it stands at the moment he either fights for £3.5m or lets it go - it's as simple as that.  He's chosen to fight for it, he's legally entitled to fight for it and at the end of the day the money isn't even the clubs - it's simply bidding FV up to buy the club for more than they intended to.

It's nothing personal, it's business.

This is the real world colliding with the fantasy bubble that football (and a huge majority of its supporters and fans) live in.

It's as moral as players being paid what they are for kicking a ball about whilst nurses, paramedics, firefighters, etc, who save lives daily are paid peanuts in comparison.

 

[Danny G]

57 minutes ago, Damocles said:

Isn’t the issue Nixon alludes to simply that the FV bid requires PBP to effectively transfer £5.5M in to some kind of equity (or write off) whereas another bidder would see the £5.5M repaid? 

If Tom Morris has been told all along that the best way of getting his money back is to support FV and hope for a future return, surely another bidder and £5.5M in his pocket might be tempting?

This is my interpretation too.

[Casino]

3 hours ago, bwfcfan5 said:

He was right about that - a terrible move from FV. Should have got the PFA loan sorted first rather than trying to offer the staggered payments. Terrible PR for them that. 

the pfa loan wont be paid until the takeover completes, i think?

wages were paid from the piggy bank

[Sluffy]

1 hour ago, Damocles said:

Isn’t the issue Nixon alludes to simply that the FV bid requires PBP to effectively transfer £5.5M in to some kind of equity (or write off) whereas another bidder would see the £5.5M repaid? 

If Tom Morris has been told all along that the best way of getting his money back is to support FV and hope for a future return, surely another bidder and £5.5M in his pocket might be tempting?

I'm sure Morris would have known that all along and could have called the PBP loan in at anytime after its term had expired and cashed out at anytime in the last couple of years.

I'm unsure what exactly PBP position is in FV - as we currently understand it Brittan, James and Thomas own a third each of the company - and it isn't James but rather PBP that has the £5.5m secured - they (PBP) wouldn't put it in to the newco as equity without some share of the company in return, and they are unlikely to want to write off a guaranteed secured loan repayment - so I suggest it is more likely they will take ownership of the hotel instead as part of the overall FV consortium - and own a share of whatever the overall master plan is?

That in turn makes more sense of James owning a third of FV without having put any investment him himself, I assume Brittan and Thomas being the ones brining in the new investment required to take the club on and undertake whatever else is in their master plan.

[Casino]

2 hours ago, bwfcfan5 said:

I think there is conjecture there.

i dont think anybody uses more conjecture than you

you told us all last week the game wasnt going ahead if the takeover wasnt completed

it was  a afir guess but each time it was presented as fact

[gonzo]

So to clarify, if this boo hoo do indeed want to gazump the hotel deal, surely they’d have come in for the club previously knowing you can’t have one without the other? 

 

[Spider]

Can I just ask that Sluffy, Custard, Hoppy and the other one keep their posts short, punchy and brief?

its a nightmare trying to read them whilst bombing down the M6.

ta

[leadfrog1]

Wake me up when it's over bored of this shit now 

[Cheese]

8 minutes ago, Spider said:

Can I just ask that Sluffy, Custard, Hoppy and the other one keep their posts short, punchy and brief?

its a nightmare trying to read them whilst bombing down the M6.

ta

Could've read the thread from start to finish going North on the M6 this morning.

[Casino]

4 minutes ago, gonzo said:

So to clarify, if this boo hoo do indeed want to gazump the hotel deal, surely they’d have come in for the club previously knowing you can’t have one without the other? 

 

i think this is the point

high stakes poker

pointless having the hotel without the fotball existing

FV will be making the point if they cant have the hotel, the football shuts and the hotel is worthless

boohoo, or whoever think EDT/FV (well MJ) wont allow the football to be liquidated

 

anderson will be playing a similar game, wanting the price of the hotel maximised, as he gets nowt until PBP have their share

he will be trying to get more out of FV who again threaten to walk away leaving football liquidated and hotel worthless

KA 'knows' that EDT/MJ wont let that happen

 

messy

maybe

[gonzo]

So boohoo get the hotel and do what with it? Make it in to a massive pretty little thing or summet? 

Like normid with knickers and bras

[Wanderlust]

3 hours ago, Sluffy said:

Given a choice of believing what some totally uninformed, ranting morons on twitter /FB/ down the pub, or the Administrators factual report (which is available to view by all of us - including you), then you will clearly see stated that Anderson is shown to be an unsecured creditor for £180k (as well as his secured holding) you've once again plumped for the hate rhetoric rather than the professional statement of facts.

Well done you.

My pleasure. Although if you bothered to read it you would see that I merely pointed out that in the absence of actual accounts or facts in general, those options are every bit just as much a possibility as all the other unsubstantiable nonsense spouted by you and others and at no stage did I say they were "facts".

Yet again you've jumped on an idea/thought/opinion/joke and falsely stated I've claimed it to be true - just because you don't like anything to contradict your bullshit conflations and surmises which you write at great length in the hope of propagating the idea that you're some sort of authority on the matter - despite knowing no more about what's really happened/happening than my dog's piles.

Cock.