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33 minutes ago, Burndens Bogs said:

Yes you could well be right, maybe FV thought the hotel was included in the deal.

Really ? I knew it was nt think it would have cropped up earlier. It could be linked to hotel in the sense that they want both. 

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8 hours ago, Tommy Banks said:

That’s got to be the most moronic comment I’ve seen on here. How you think that making fun of people with autism is acceptable beggars belief. Also the mods on this site should be dealing with posters who think it’s acceptable.

If that's the most moronic comment you have seen on here the I'm guessing you have never been 'Behind The Stands.' 

I'd also say that the pretend homophobia is more offensive than any perceived dig at folk on the high functioning end of the autistic spectrum like Alan Turing, since it is not relevant to content posted. 

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On 18/06/2019 at 18:53, Marc505 said:

Head groundsman himself has said this is bullshit. Gone daft this.

i know for a fact, that there has been 30k worth of fertiliser delivered to the training ground earlier this week, and a lot of machinery repaired, that had stood idol for a while, and the administrators have also stopped some of the treaining ground portacabins being removed by hirers.  All after the "prepfered bidder announcment / £1m transferred" announcment.

 

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17 minutes ago, Ratwhite said:

i know for a fact, that there has been 30k worth of fertiliser delivered to the training ground earlier this week, 

 

I thought Ameobi was leaving?

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1 hour ago, RoadRunnerFan said:

If that's the most moronic comment you have seen on here the I'm guessing you have never been 'Behind The Stands.' 

I'd also say that the pretend homophobia is more offensive than any perceived dig at folk on the high functioning end of the autistic spectrum like Alan Turing, since it is not relevant to content posted. 

Michael James is a director of both FV and PBP and as PBP has security over the hotel for a £5.5m loan, it should not need a second Alan Turing to work out that the hotel has got to figure in the negotiations and that will involve Quantuma.

Still waiting for someone to explain to me where £24million plus of unsecured creditors have suddenly appeared from.  £27m plus if you think that ED's executors are only looking to KA for £5m  and not the £8m Howard said it was.

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8 minutes ago, Chris Custodiet said:

Michael James is a director of both FV and PBP and as PBP has security over the hotel for a £5.5m loan, it should not need a second Alan Turing to work out that the hotel has got to figure in the negotiations and that will involve Quantuma.

Still waiting for someone to explain to me where £24million plus of unsecured creditors have suddenly appeared from.  £27m plus if you think that ED's executors are only looking to KA for £5m  and not the £8m Howard said it was.

We do not know. It was reported by the BN and Nixon. Bassini also said that "due diligence revealed a higher level of debt than he was initially aware of" though he used far more basic language. 

We know for example we owed over a million to the council and rising over a million to emergency services....and we were losing more than £5M a year...so....

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28 minutes ago, Chris Custodiet said:

Michael James is a director of both FV and PBP and as PBP has security over the hotel for a £5.5m loan, it should not need a second Alan Turing to work out that the hotel has got to figure in the negotiations and that will involve Quantuma.

Still waiting for someone to explain to me where £24million plus of unsecured creditors have suddenly appeared from.  £27m plus if you think that ED's executors are only looking to KA for £5m  and not the £8m Howard said it was.

Wasn't it running costs that they had to provide up front £12million that was owed and £12million for next season ?

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10 hours ago, Tommy Banks said:

That’s got to be the most moronic comment I’ve seen on here. How you think that making fun of people with autism is acceptable beggars belief. Also the mods on this site should be dealing with posters who think it’s acceptable.

As I read it hes not taking the piss, just a play on words, which is harmless in my eyes.  I have two family members with autism and i haven't taken offence, in fact I found it amusing.

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Posted (edited)
2 hours ago, bwfcfan5 said:

We do not know. It was reported by the BN and Nixon. Bassini also said that "due diligence revealed a higher level of debt than he was initially aware of" though he used far more basic language. 

We know for example we owed over a million to the council and rising over a million to emergency services....and we were losing more than £5M a year...so....

Try looking at the figures on page 4 of the last Burnden Leisure audited accounts. Operating loss of £12.9m in 2016/17.

https://beta.companieshouse.gov.uk/company/00335699/filing-history

Do you seriously think that there would be a £5m loss in 2017/18  when broadcasting income increased by £6m, profit on player sales would bring in another £6-7m, wages would be reduced as legacy player contracts ran out and another c.£1m credit was negotiated with BM on previous interest charges.

There would be a slightly higher level of debt arising through 2018/19 but nowhere near enough to account for the numbers banded about on here and elsewhere. Iles is clueless, Nixon's remote and Bassini is ... erm Bassini.

Edited by Chris Custodiet

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31 minutes ago, Chris Custodiet said:

Try looking at the figures on page 4 of the last Burnden Leisure audited accounts. Operating loss of £12.9m in 2016/17.

https://beta.companieshouse.gov.uk/company/00335699/filing-histo

Do you seriously think that there would be a £5m loss in 2017/18  when broadcasting income increased by £6m, profit on player sales would bring in another £6-7m, wages would be reduced as legacy player contracts ran out and another c.£1m credit was negotiated with BM on previous interest charges.

There would be a slightly higher level of debt arising through 2018/19 but nowhere near enough to account for the numbers banded about on here and elsewhere. Iles is clueless, Nixon's remote and Bassini is ... erm Bassini.

FV also pulled out (or at least it is reported as such) due to a higher level of debt uncovered during Due diligence. 

There is quite a lot of thing stacking up to suggest that it might have been the case. 

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13 hours ago, ZicoKelly said:

"heads of terms" is about to become the most posted phrase on here since "Clayton Powys"

Clayton Powys the racist?

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5 minutes ago, bwfcfan5 said:

FV also pulled out (or at least it is reported as such) due to a higher level of debt uncovered during Due diligence. 

There is quite a lot of thing stacking up to suggest that it might have been the case. 

The club was bound to have been losing money every month in 2018/19 and so there would inevitably be a higher level of debt if the due diligence was carried out  some time after the prospectus was prepared. Other issues may also have cropped up in the meantime but nothing like the figures banded about.

FV are not philanthropists and plainly needed a good deal  for it to work for them. So it should be no surprise that they should make a tactical withdrawal if it was getting less favourable and there was the  better option of waiting for admin.

Have you tried figuring out who, in addition to the secured creditors, is owed £24-27m, why they would extend so much credit to such a risky business or what goods or services might have been supplied to get to such an amount in such a short time?

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Just now, Chris Custodiet said:

The club was bound to have been losing money every month in 2018/19 and so there would inevitably be a higher level of debt if the due diligence was carried out  some time after the prospectus was prepared. Other issues may also have cropped up in the meantime but nothing like the figures banded about.

FV are not philanthropists and plainly needed a good deal  for it to work for them. So it should be no surprise that they should make a tactical withdrawal if it was getting less favourable and there was the  better option of waiting for admin.

Have you tried figuring out who, in addition to the secured creditors, is owed £24-27m, why they would extend so much credit to such a risky business or what goods or services might have been supplied to get to such an amount in such a short time?

I don't think we've been paying people for a long time. What that amounts to we shall see (or perhaps not). But clearly there is a reason why two buyers agreed HoTs then pulled out as due diligence uncovered something they didn't like...granted one was Bassini but its still a pattern.

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35 minutes ago, bwfcfan5 said:

I don't think we've been paying people for a long time. What that amounts to we shall see (or perhaps not). But clearly there is a reason why two buyers agreed HoTs then pulled out as due diligence uncovered something they didn't like...granted one was Bassini but its still a pattern.

Apologies to those who tried to follow the link I provided earlier. It didn't work and I've now corrected it. Here it is again. https://beta.companieshouse.gov.uk/company/00335699/filing-history

For the benefit of anyone who might be interested, page 4 of the audited 2016/17 accounts show that the BL Group spent £6.9m on cost of sales and admin in 2016/17 yet some want to believe that, just two years later, it now owes £24-27m to unsecured creditors.

I believe Howard got close to the true facts even though he/she was pursuing an agenda that was designed to be unfavourable to both KA and FV.

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2 hours ago, Breightmet Boy said:

As I read it hes not taking the piss, just a play on words, which is harmless in my eyes.  I have two family members with autism and i haven't taken offence, in fact I found it amusing.

My lad is autistic as fuck and I clearly would be diagnosed if I was at school nowadays and yet saw nowt offensive in the post.

Certainly compared to the rest of the site.

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16 minutes ago, Chris Custodiet said:

Apologies to those who tried to follow the link I provided earlier. It didn't work and I've now corrected it. Here it is again. https://beta.companieshouse.gov.uk/company/00335699/filing-history

For the benefit of anyone who might be interested, page 4 of the audited 2016/17 accounts show that the BL Group spent £6.9m on cost of sales and admin in 2016/17 yet some want to believe that, just two years later, it now owes £24-27m to unsecured creditors.

I believe Howard got close to the true facts even though he/she was pursuing an agenda that was designed to be unfavourable to both KA and FV.

Spent it on a restaurant apparently according to twitter 

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34 minutes ago, Clarence Carter said:

Powis.

Clayton Powis the racist?

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35 minutes ago, Eavesy said:

Spent it on a restaurant apparently according to twitter 

According to twitter eh?

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Posted (edited)
1 hour ago, Chris Custodiet said:

According to twitter eh?

Chris, this isn’t meant as a dig or anything but what are you actually trying to get at?

I’m no accountant so I’m not going to try and accurately break down numbers.

Maybe the 40 million debt that Nixon refers to is inflated but it doesn’t mean the debt can’t be significant. I don’t know what goods or services have been provided that would rack up such huge debts and I’m a bit lost with howards theory on Ken’s factored millions whether that’s secured or unsecured.

Anyway, my point is, despite selling Madine and increased revenue from promotion, that doesn’t mean significant debt can’t have been built up. Maybe it’s been exaggerated in the media, perhaps running costs were taken into account for the next couple of years when Nixon said 40 million. I really don’t know. I do want to know why you’re being a stickler about it though, as you think it’s significant.

What are the options in your mind?

1. The debt is nowhere near as high as stated therefore maybe people should blame the bidders rather than Ken for not completing a solvent deal.

2. The debt is actually crazy high and therefore Ken has obviously done some shady shit.

I don’t know, I’m just trying to read between the lines of what you’re getting at because you obviously know more than I do about accountancy and such.

do you not agree that with Ken not funding the club for a number of months and the amount of goods and services that a business like Bolton Wanderers must receive could have built up significant unsecured debt. Maybe not 27 million but still a number which FV and others did not want to meet in a solvent sale so they could spend more on the club/land?

Feel free to blast my opinions, I just don’t know exactly what you’re getting at.

Edited by Mantra

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A question for all the wannabe forensic accountants on here. Once you find out who owes what to who and know who has paid how much and where, what will you do with all this information?

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15 hours ago, Tommy Banks said:

That’s got to be the most moronic comment I’ve seen on here. How you think that making fun of people with autism is acceptable beggars belief. Also the mods on this site should be dealing with posters who think it’s acceptable.

Could I politely suggest you let the mods do their jobs & refrain from trying to get a long time poster removed for something that only seems to offend you? I understand we are all different but I would hazard a guess that you are going to need sedatives if you stay on this site & read some of the stuff posted ( in jest) by some of our more seasoned members 😁

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15 minutes ago, DazBob said:

A question for all the wannabe forensic accountants on here. Once you find out who owes what to who and know who has paid how much and where, what will you do with all this information?

Blame the ST.

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