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Just to add there is no way that Howard or anybody know at this time who will be the successful bidder from admin

 

thus this is utter bullshit. Absolute horse shit. 

At this stage the administrators will not have even received a formal bid for the club so to make a prediction is pointless  

 

could it come true? Absolutely it could it’s a punchers chance in essence.   but I could predict that Corbyn and mick brown will double team Theresa May on the top deck of a 524 bus  it might happen but I’ve no way of actually knowing at this time  

 

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1 hour ago, gonzo said:

 

Proving that making a profit is possible. Also notable that Wolves, the biggest losers will have recouped all those losses and more already, with more to come next season. All about management.

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Just now, Hoppy510 said:

Proving that making a profit is possible. Also notable that Wolves, the biggest losers will have recouped all those losses and more already, with more to come next season. All about management.

I’m not sure Wolves are the blueprint given how much money they threw at it - end up with a dodgy penalty in a play off final or anything along those lines and it’s shit creek time. 

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3 minutes ago, Hoppy510 said:

Proving that making a profit is possible. Also notable that Wolves, the biggest losers will have recouped all those losses and more already, with more to come next season. All about management.

We aren’t pissing with the same cock as those 19 clubs.

 

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44 minutes ago, Escobarp said:

Just to add there is no way that Howard or anybody know at this time who will be the successful bidder from admin

 

thus this is utter bullshit. Absolute horse shit. 

At this stage the administrators will not have even received a formal bid for the club so to make a prediction is pointless  

 

could it come true? Absolutely it could it’s a punchers chance in essence.   but I could predict that Corbyn and mick brown will double team Theresa May on the top deck of a 524 bus  it might happen but I’ve no way of actually knowing at this time  

 

524s are usually single decker so they'll have a job. 

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Just now, frank_spencer said:

524s are usually single decker so they'll have a job. 

This is what happens when you leave Bolton 12 years ago frank my memory is in the Olden days 

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according to a totally unreliable person,( the missus) Bassini and ST are the 2....

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Surprised that nobody has picked up about the non disclosure clause-does that mean that when you buy the club and found all the skeletons in the cupboard you can't tell anyone

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49 minutes ago, lowcarbon said:

according to a totally unreliable person,( the missus) Bassini and ST are the 2....

Feck off you WUM

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Posted (edited)
12 minutes ago, roybarker said:

Surprised that nobody has picked up about the non disclosure clause-does that mean that when you buy the club and found all the skeletons in the cupboard you can't tell anyone

Are you referring to the non-disclosure agreement mentioned in the administrators’ press release?

If so, that’s an NDA which means anyone doing due diligence can’t (during the bidding / sale process) disclose details about the information that they have been looking at.

Edited by Jol_BWFC

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6 hours ago, Boo said:

Feck off you WUM

marc has confirmed bassini isnt part of the 2. my ges would be chinese and fv

 

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Posted (edited)

Big sam and some dude from EFL on talksport now

actually it’s the dude that wrote that article I think 

Edited by gonzo

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6 hours ago, Jol_BWFC said:

Are you referring to the non-disclosure agreement mentioned in the administrators’ press release?

If so, that’s an NDA which means anyone doing due diligence can’t (during the bidding / sale process) disclose details about the information that they have been looking at.

Yes but can you disclose after buying

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1 hour ago, roybarker said:

Yes but can you disclose after buying

Not sure what you are expecting any new owner to see. They will see the books and accounts up to date from the administrators. They won't see a forensic accounting breakdown and were there any illegality found that is the duty of the administrator to report. 

It is quite clear that there is no illegality. The club just doesn't make enough money to sustain itself. Ken no doubt took what he could out in fees and was a bad owner. But the conspiracy theories about owners stealing money are tiresome. You only need look at the accounts to see we've been in the red for a decade. Ken didn't manage to turn that round and paid himself fairly well whilst not investing anything. Bad owner. But keep it in perspective. 

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So lets say all 30 of these potential buyers pay the 25k to see the books, that is 750k, where does that go? To the club or administrator? 

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17 minutes ago, bwfcfan5 said:

Not sure what you are expecting any new owner to see. They will see the books and accounts up to date from the administrators. They won't see a forensic accounting breakdown and were there any illegality found that is the duty of the administrator to report. 

It is quite clear that there is no illegality. The club just doesn't make enough money to sustain itself. Ken no doubt took what he could out in fees and was a bad owner. But the conspiracy theories about owners stealing money are tiresome. You only need look at the accounts to see we've been in the red for a decade. Ken didn't manage to turn that round and paid himself fairly well whilst not investing anything. Bad owner. But keep it in perspective. 

Meh I’ll wait and see thanks.

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2 hours ago, roybarker said:

Yes but can you disclose after buying

I haven’t seen the NDA, but generally speaking NDAs in this context are to protect the sale process, rather than a gagging order for the future (think Phillip Green for that sort of NDA).

That isn’t to say the sale contract won’t include confidentiality clauses. It’s not the Administrators’ reputation on the line if Ken has done something dodgy, so they probably wouldn’t insist on for their purposes. However, if they need Ken to sign off on the terms of the sale (as secured creditor), he may try to insist on it.

I’m sure there are people who will know the true scale of things who haven’t signed NDAs.

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12 minutes ago, bwfcfan5 said:

Not sure what you are expecting any new owner to see. They will see the books and accounts up to date from the administrators. They won't see a forensic accounting breakdown and were there any illegality found that is the duty of the administrator to report. 

It is quite clear that there is no illegality. The club just doesn't make enough money to sustain itself. Ken no doubt took what he could out in fees and was a bad owner. But the conspiracy theories about owners stealing money are tiresome. You only need look at the accounts to see we've been in the red for a decade. Ken didn't manage to turn that round and paid himself fairly well whilst not investing anything. Bad owner. But keep it in perspective. 

Quite true but there's illegality and there's morality and the law is inadequate as it allows for mistakes, corruption by third parties and bad markets. That combination creates it possible to strip assets out of a business all within the law. Proving the intention behind it is nigh impossible which is why Anderson was merely banned from Directorships rather than being banged up when he was caught doing it last time

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Reports of the £25m does not include the Hotel, are the 2 Admin companies now arguing?

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1 minute ago, lowcarbon said:

Reports of the £25m does not include the Hotel,

If that's true, buying a club with a hotel in the ground is an even less attractive proposition.

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So to buy both the club and the hotel, a potential is looking north of 30 million +, I can see the 30 interested parties dropping quite quickly

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19 minutes ago, Hoppy510 said:

Quite true but there's illegality and there's morality and the law is inadequate as it allows for mistakes, corruption by third parties and bad markets. That combination creates it possible to strip assets out of a business all within the law. Proving the intention behind it is nigh impossible which is why Anderson was merely banned from Directorships rather than being banged up when he was caught doing it last time

The trouble with morality is it applies differently in different circumstances. Which is why the law is the law and sits about morality and ethics and everything else.

Nobody for example would want the same morality applied to a struggling small business owner unable to pay their staff as they would to Sir Phillip Green. But the law cannot start to differentiate between people. Its either legal or it isn't. Cut and dried. 

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26 minutes ago, Pricey said:

So to buy both the club and the hotel, a potential is looking north of 30 million +, I can see the 30 interested parties dropping quite quickly

Unless the Administrators for the club have fucked up royally no, don't forget they are in control of the club and as such the website announcement about the price would have been there announcement... they were very clear in that release the £25m included the hotel... may be a little bit different in the final wash, as they may well have made an assumption on the cost of the hotel, but you'd assume that it'll be broadly that amount.

Quantuma comments are interesting though... the value of the hotel, you would imagine is a lot less if its not in complete partnership with the club, makes no sense to not push for it to be involved in the overall acquisition.

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