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Taken over?

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4 minutes ago, Mounts Kipper said:

I’d imagine there are BWFC fans out there eyeing this. 

I’m sure if Barry Knight received death threats over a game then considering this there’s a chance someone will track him down 

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Perhaps "they" topped ED and Garry as anyone seen that Cockney cunt Holdsworth ?

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I'm at the formula E in Monaco on Tuesday. Anyone need any special delivery 🙃 

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Fanny5 will be loving this. Been banging on about the apocalypse for years. 

He will be over wanking at the thought of shit cunt PP being in a job forever with the ineffective hoofball football carrying on. Forever. 

My prediction is 8th May we are liquidated. New hobby coming. 

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13 minutes ago, bwfcfan5 said:

Secured debt plus 25% of unsecured is said to be close to £20M. So thats what you have to clear in admin.

Some of the secured stuff may be negotiated. Lets say best case scenario it costs £10M to get us out of admin. Then another £6M to cover operational losses and inject initial cash into the business.

So at bottom end that is £16M. That is to literally kick start it. Then you have to pay for players, coaches, management staff etc...I'm just not seeing that someone prepared to invest loads initially waits for admin. I suspect people who want to own us but don't have loads to throw away will. And that's fine. But the likelihood is next season will be about finishing outside the relegation places in league one if we go via admin. And doing so will not be straightforward for anyone. 

I see what you are saying, but with your figures there is a 4 million saving to be made. You would have to pay for players etc even if we didn't go in to admin, as most of the current players can walk away now, or are out of contract anyway at the end of the season. The only real question is can the money you save make up for starting on -12 points. Or, if you don't go in to admin and start next season with the same shit players will you sell as many season tickets as if you started on -12 points but with a fresher squad of players. At this stage I think admin is realistically the only option. Personnaly I think if Bassini get's in it will just be Ken Mk.2 and the freefall will continue. 

 

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4 minutes ago, Nordkurve said:

I see what you are saying, but with your figures there is a 4 million saving to be made. You would have to pay for players etc even if we didn't go in to admin, as most of the current players can walk away now, or are out of contract anyway at the end of the season. The only real question is can the money you save make up for starting on -12 points. Or, if you don't go in to admin and start next season with the same shit players will you sell as many season tickets as if you started on -12 points but with a fresher squad of players. At this stage I think admin is realistically the only option. Personnaly I think if Bassini get's in it will just be Ken Mk.2 and the freefall will continue. 

 

For example, football ventures had already brought MJ on board so presumably wouldn't have had to pay his loan. So I'm unconvinced admin buyout will necessarily save that much.

The trouble with admin now is not just the points. Its that you're taking the summer to resolve it. And going into the season at best with a few weeks of planning with a club that has been chaotic for 18 months. There is a lot to sort out at all levels. You do not click your fingers and turn round this mess, especially when you start -12 and quite possibly under a transfer embargo. 

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7 minutes ago, Morizio said:

Fanny5 will be loving this. Been banging on about the apocalypse for years. 

He will be over wanking at the thought of shit cunt PP being in a job forever with the ineffective hoofball football carrying on. Forever. 

My prediction is 8th May we are liquidated. New hobby coming. 

You're not wrong there. It's surprising anybody has shown an interest in the club, and I include ken in that.

Might as well pack it all in, together the the large number of other clubs that a struggling.

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Posted (edited)

Spoke to a Sunderland fan yesterday who's ran businesses all his life.

Says from the outside looking in that unless an utter lunatic turns up with £30million, we're fucked and going under.

He's not the sort to be dramatic either.

So that's a cheery thought innit?

Edited by Spider

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1 minute ago, Spider said:

Spoke to a Sunderland fan yesterday who's ran businesses all his life.

Says from the outside looking in that unless an utter lunatic turns up with £30million, we're fucked and going under.

He's not the sort to be dramatic either.

So that's a cheery thought innit?

Sounds a bit like Norwich last season. We've got no one to sell though.

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15 minutes ago, Morizio said:

Fanny5 will be loving this. Been banging on about the apocalypse for years. 

He will be over wanking at the thought of shit cunt PP being in a job forever with the ineffective hoofball football carrying on. Forever. 

My prediction is 8th May we are liquidated. New hobby coming. 

Ummmm......

I don't think we'll be liquidated. We'll be bought by someone. Its just not going to be a magical carpet ride and instead will be a slow grind. But we'll still have a club I think even though logic might say otherwise. 

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Just now, Tonge moor green jacket said:

Sounds a bit like Norwich last season. We've got no one to sell though.

I'm still certain we'll emerge battered and bruised but basically the same entity, in League 1.

He said we really are on the brink.

Just can't see us going pop. Maybe I just don't want to.

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Bassini will be the new owner IMHO, we will have just got to wait to see what he can provide. I would love a local consortium to run the club but admin would be a desperate thing to happen. Cash flow is a killer, Bassini will have to pay the tax man for the accounts to be back up and running and the wages and immediate emergencies can be paid for. Whatever happens after that will be in the plan he has to provide to EFA.

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5 minutes ago, nantwichwhite said:

Bassini will be the new owner IMHO, we will have just got to wait to see what he can provide. I would love a local consortium to run the club but admin would be a desperate thing to happen. Cash flow is a killer, Bassini will have to pay the tax man for the accounts to be back up and running and the wages and immediate emergencies can be paid for. Whatever happens after that will be in the plan he has to provide to EFA.

Really? Based on what? I cannot see that happening now. 

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19 minutes ago, Spider said:

Spoke to a Sunderland fan yesterday who's ran businesses all his life.

Says from the outside looking in that unless an utter lunatic turns up with £30million, we're fucked and going under.

He's not the sort to be dramatic either.

So that's a cheery thought innit?

Well the utter lunatic has already turned up, we're halfway there.

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Thought ken and is son were football agents if so which players do they represent ? Surprised if PFA would want any of there members wanting anything to do with them after this 

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5 minutes ago, radcliffewhite1 said:

Bassini will be nowhere to be seen in the next few days 

no chance is he taking over 

This. He'll try to slink away rather than draw attention to his part in this mess. 

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THE Bolton Whites Hotel has shut its doors for at least 48 hours as the financial crisis at Wanderers cut deeper.

A decision has been taken to close the business temporarily because the health and safety of guests could no longer be guaranteed.

 

 

From the Beano

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Posted (edited)
17 minutes ago, bwfc2003 said:

THE Bolton Whites Hotel has shut its doors for at least 48 hours as the financial crisis at Wanderers cut deeper.

A decision has been taken to close the business temporarily because the health and safety of guests could no longer be guaranteed.

From the Beano

The website now shows no availability for the next six days but shows nothing about it being closed, which would seem a little strange if people not staying there can use the Restaurant etc.

Edited by Nordkurve

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1 hour ago, Spider said:

I'm still certain we'll emerge battered and bruised but basically the same entity, in League 1.

He said we really are on the brink.

Just can't see us going pop. Maybe I just don't want to.

Yeah. Whether it's blind faith, or a refusal to accept the liquidation risk, I don't know, but I too don't think the worst will happen.

However, it's not looking like anyone genuine wants to deal with ken, so perhaps admin is the least worst option.

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51 minutes ago, Tonge moor green jacket said:

Yeah. Whether it's blind faith, or a refusal to accept the liquidation risk, I don't know, but I too don't think the worst will happen.

However, it's not looking like anyone genuine wants to deal with ken, so perhaps admin is the least worst option.

Isn't the current pressing debt considerably less than £30m? That's for someone to take over now from Ken. I suspect players' salaries HMRC and the rest don't amount to much more than £5m. It would be a shame to go down the swanee for that. It's just that Ken is not prepared to stump up and hasn't arranged any back up.

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14 minutes ago, passmosster said:

Isn't the current pressing debt considerably less than £30m? That's for someone to take over now from Ken. I suspect players' salaries HMRC and the rest don't amount to much more than £5m. It would be a shame to go down the swanee for that. It's just that Ken is not prepared to stump up and hasn't arranged any back up.

God knows what the debt is. To be honest, from what we've seen so far, the stumbling block is Ken. Not sure anyone seems interested in dealing with him.

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3 hours ago, Dan.m said:

I'm at the formula E in Monaco on Tuesday. Anyone need any special delivery 🙃 

Yeah pass this on to the Tank Top 🖕

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11 hours ago, Duck Egg said:

I stopped reading at

'taking Howard at his word'

I now understand how seemingly intelligent folk end up giving their cash away to Nigerian royalty

There is a saying that 'it is better to say nothing and be thought a fool than to say something and remove all doubt'.

If you hadn't stopped reading at 'taking Howard at his word' you would have clearly seen that I went on to severely question the validity of what he had said - and in fact went on to refute it.

At least you have certainly lived up to your user name on this occasion.

Long may you continue to do so.

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