Anderson pay off

[DomRepWanderer]

6 minutes ago, Escobarp said:

Sluffy. I have a lot of time for what you write and the effort and detail that goes into it and most of the time it’s accuracy 

but

and this is the biggest but ever 

ken Anderson is a slimy horrible devious treacherous cunt. Nobody should be excusing what this man has done to our club over the last few months. He was within a few hours of killing us  

Its nothing short of despicable. He had every intention of taking this to liquidation. His view was either he benefits or we all suffer including him 

the stunts he has pulled are nothing short of disgusting and I cannot see anyone wanting to do business with him again

i think you may also find that there may well be some comeback on Kenneth from the authorities. Yes the books have been looked at forensically but was that the time to be outing him or pursuing him when his co-operation was needed? Watch this space his time will come 

but please do yourself and all of us a favour . And stop posting now  about ken and what he’s had or not had  

 

 

 

No fucking chance he's like a dog with a bone when it comes to Anderson.

[Mounts Kipper]

19 minutes ago, Sluffy said:

Says the man who wanted liquidation rather that FV taking ownership of the club.

I never said that, and your still a tit. 

[Tombwfc]

3 hours ago, ZicoKelly said:

would it be that much?

he borrowed £5M to pay off what Deano borrowed to buy the club

which I think means ED effectively paid off that debt he didn't intend paying off

KA may have kept some for himself, like Deano did when he took out the loan, but don't think it's to the tune of £7.5M

so it might be nearer 2.5M, because Blue Marble needed paying off £5M

I think

 

 

Presumably anything Ken lent back to the club he secured, and didn't the two admins only have him down for circa £5m?

One way or another, he's 7.74m better off than he was yesterday. So it's not a bad result at all for King Ken.

Does suggest that the plan (beyond finding some sap to buy the club and pay off him and his debts) was always to push us to liquidation and play emotional blackmail with EDT. Given that he was never, ever going to pay a penny himself.

 

[Mounts Kipper]

4 minutes ago, Tombwfc said:

 

Presumably anything Ken lent back to the club he secured, and didn't the two admins only have him down for circa £5m?

One way or another, he's 7.74m better off than he was yesterday. So it's not a bad result at all for King Ken.

Does suggest that the plan (beyond finding some sap to buy the club and pay off him and his debts) was always to push us to liquidation and play emotional blackmail with EDT. Given that he was never, ever going to pay a penny himself.

 

I wonder why EDT never took the option to take his shares when he defaulted on paying them back the money they borrowed him, that would have made the sale to FV so much more straight forward, anyone know why they didn’t do that? 

[Escobarp]

3 minutes ago, Mounts Kipper said:

I wonder why EDT never took the option to take his shares when he defaulted on paying them back the money they borrowed him, that would have made the sale to FV so much more straight forward, anyone know why they didn’t do that? 

Because they wanted the 7.5million at the outset that’s why 

[Eavesy]

56 minutes ago, Sluffy said:

Thanks.

Anderson walks away with £240k for selling the club to FV and what ever he took out in the three years that he was there.

I've seen that to be estimated at around £2m - seems a reasonable estimate to me.

Before anyone kicks off, there's been two separate Administration companies and at least ten forensic auditors going through the books all this time so, it's unlikely that he's raped and pillaged the club as some still believe, nor have been doing dodgy deals and loaning the club money - as been strongly suggested by Howard at one time (there's no one on the Administrators list of unsecured debtors to suggest that had happened).

Is £2m for three years in charge outrageous?  Well it compares to what Gartside was receiving until his passing.

As for this £7.5m.

Bridging loans from Eddie to Anderson secured on Ken's personal wealth.

Anderson certainly put £5m into the club, secured it against assets, then paid off the utterly bizarre BluMarble loan (paid to Holdsworth company, secured on the clubs assets, and apparently not known about by Anderson when he became joint owner?).

When the club went into Administration, Anderson needed the £5m back in order to pay off Eddie (Eddies Trustees by now).

As EDT was the first in line for the assets at the club (Warburton second) and PBP first at the hotel, it meant the probable sale of the assets would pay off all those in front of Anderson in the two queues but wouldn't stretch to cover his £5m as well.

Anderson then set about creating an artificial market to get the bids up for the hotel (and in doing so prevented FV doing the deal to by the club weeks ago).

Finally when that failed he seems to have asked EDT if they would waive the loan to which they must have said - no.

He then played the nuclear option and said something like 'in that case I'll take my chances and see what I can get from liquidation'.

Cunt's trick - yes.

Within his rights to do so - also yes.

Would I have done the same if I was in the hole for £7.5m - probably.

Wouldn't you in the same position - ?

EDT waived the debt.

That means he isn't walking away with a further £7.5m in his back pocket though.

The irony to all this though is that most people always believed that Eddie had put the £5m in to pay off BluMarble and Ken hadn't put in a penny - and seemed to accept that as ok?

Well with EDT waiving the debt, then in effect that's exactly what happened yet social media seems to be in meltdown over it?

Anyway as the take over has now happened (and I'd like to add my personal thanks and gratitude to all those who saved us in the end) that I doubt I'll be posting much from now on.

My aim in posting so much recently has purely been trying to help others understand what's actually going on rather than the twitter world view of it, which unfortunately is taken as gospel by so many these days.

Unless I'm banned in the cull I won't be leaving the forum and will add bits when I feel I can add to a thread but as my age and health preclude me from going to games anymore and my career's been mainly to do with how companies function and operate within the law (and that I'm now greatly optimistic that FV will be more transparent and open in their endeavours), I simply don't believe I have a great deal to add otherwise.

I'd like to thank Benny, Escobarp, Danny, Howard and the much maligned (in my opinion anyway) Chris Custard in particular for their fantastic and compelling insights into what's actually been going on based on their professional expertise and knowledge - and sharing such with the rest of us. I appreciate and thank you for it.

As for Kenneth Anderson, let me leave you with a rhetorical question to contemplate -

Who ultimately did the most damage to the club?

1 - Gartside for his colossal financial mismanagement?

2 - Eddie for selling the club to Holdsworth (plus one other to be named later) when Deano clearly had no money?  Presumably knew about him going to take out the Blumarble loan (but was he aware of his intent to secure it on the clubs assets(???) and who was seen frequently in the company of undesirables

3 - Holdsworth for being an utter chancer, taking out the disastrous BluMarble loan, taking over £1.5m out of the club within a year and bringing Ken on board, and having mates such as Michael Collins - and photographed with Johnathon Disley?

https://www.theboltonnews.co.uk/news/14900955.ex-business-associate-of-investment-firm-that-took-over-bolton-wanderers-jailed-for-part-in-loan-and-mortgage-fraud-racket/

or

4 -Anderson for being unscrupulous and probably/almost certainly being morally repugnant?

 

Have a nice day everyone!

Top guy. Spot on

[Sluffy]

39 minutes ago, Escobarp said:

Sluffy. I have a lot of time for what you write and the effort and detail that goes into it and most of the time it’s accuracy 

but

and this is the biggest but ever 

ken Anderson is a slimy horrible devious treacherous cunt. Nobody should be excusing what this man has done to our club over the last few months. He was within a few hours of killing us  

Its nothing short of despicable. He had every intention of taking this to liquidation. His view was either he benefits or we all suffer including him 

the stunts he has pulled are nothing short of disgusting and I cannot see anyone wanting to do business with him again

i think you may also find that there may well be some comeback on Kenneth from the authorities. Yes the books have been looked at forensically but was that the time to be outing him or pursuing him when his co-operation was needed? Watch this space his time will come 

but please do yourself and all of us a favour . And stop posting now  about ken and what he’s had or not had  

I don't believe I have excused what Anderson has done, particularly over the last few months.

I also don't believe I said Anderson was without sin on the legality in the running of the club merely that nothing had been put in the public domain so far and it was looking less likely that he had.

Nevertheless I thank you for your reply and kind words and would be utterly delighted if Anderson or anyone else is brought to account in a court of law for any illegalities perpetrated on our club.  I'm sure we all would.

As I indicated earlier I do intend the mainly withdraw from posting on the forum but I do have one more post left to do this evening!

[Sluffy]

53 minutes ago, Mounts Kipper said:

I never said that, and your still a tit. 

First post on page 1047 of the take(n) over thread.

Seems you rather we be liquidated - and thus prevent a FV takeover.

Have a nice day!

Mounts Kipper

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Posted Saturday at 23:28 (edited)

I hate ken Anderson that much I’d prefer us to liquidate and start again in level 20 if it meant that greasy plastic faced sad excuse for a human being got fuck all out of it. And by the way I think it’ll end with liquidation, Anderson wanted that all along in my opinion. 

Edited Saturday at 23:32 by Mounts Kipper

 

[SalfordOriginal]

Just now, Sluffy said:

First post on page 1047 of the take(n) over thread.

Seems you rather we be liquidated - and thus prevent a FV takeover.

Have a nice day!

Mounts Kipper

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Posted Saturday at 23:28 (edited)

I hate ken Anderson that much I’d prefer us to liquidate and start again in level 20 if it meant that greasy plastic faced sad excuse for a human being got fuck all out of it. And by the way I think it’ll end with liquidation, Anderson wanted that all along in my opinion. 

Edited Saturday at 23:32 by Mounts Kipper

 

Stuffy - give it a rest man.  There is few people more BWFC than MK.  That’s from someone who only knows him loosely through games attended

[Escobarp]

[Breightmet Boy]

Sussed Out, dry bummed and hung out to dry.  Sluffy, it’s time to do one isn’t it

[Wanderlust]

So in summary, we still don't know how much Anderson's tenure has cost us or how much he took out of the company?

[Mounts Kipper]

29 minutes ago, Sluffy said:

First post on page 1047 of the take(n) over thread.

Seems you rather we be liquidated - and thus prevent a FV takeover.

Have a nice day!

Mounts Kipper

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Posted Saturday at 23:28 (edited)

I hate ken Anderson that much I’d prefer us to liquidate and start again in level 20 if it meant that greasy plastic faced sad excuse for a human being got fuck all out of it. And by the way I think it’ll end with liquidation, Anderson wanted that all along in my opinion. 

Edited Saturday at 23:32 by Mounts Kipper

 

Where does it say I prefer liquidation to FV buying us? 

[hughmungus]

Having to defend Gartside to a certain extent, he was responsible along with Eddie for Sam walking away when they had to make a shit or bust decision, and he then spent the next 7 or so yrs trying to buy Sams success back with the same money he had refused to give him and he realised that to late.

As a BWFC guy he wore his heart on his sleeve and didn’t want to appear to be the guy who let it fail. He ultimately died trying which is a real shame. 

[Casino]

You said liquidation over anybody buying us

 

Anyoad, let's all stfu with point scoring 

[bwfcfan5]

Anderson didn’t create an auction for the club. He merely had to delay until it got to the point of liquidation knowing that either Mike James or EDT or both would not allow the club to disappear. That’s why he spent weeks and weeks agreeing to a deal then reneging at the last minute. 

Anderson wanted his loan clearing and protection against future action against him. FV offered him the best hope of achieving those things. So he played the game of stringing it out as long as possible. EDT wanted their money so were the ones hoping someone with big money rocked up. They didn’t, Ken ran the clock down to the wire and ultimately preyed on MJ and EDT blinking to preserve the club.

That is it. 

[jules_darby]

Not sure why folk are getting at Sluffy; he’s not actually backing KA’s character in the slightest; he’s just enlightening folk as to his motives. Trying to play devil’s advocate perhaps.

He may go on a bit but at least he’s trying to help us understand, unlike that spunkbreath Custard who just sneers down his nose at us folk.

His views may not be popular but they sound about right as to what was happening to me. Suppose the messenger often gets shot...

[Mounts Kipper]

4 minutes ago, jules_darby said:

Not sure why folk are getting at Sluffy; he’s not actually backing KA’s character in the slightest; he’s just enlightening folk as to his motives. Trying to play devil’s advocate perhaps.

He may go on a bit but at least he’s trying to help us understand, unlike that spunkbreath Custard who just sneers down his nose at us folk.

His views may not be popular but they sound about right as to what was happening to me. Suppose the messenger often gets shot...

I didn’t get passed this comment. 

Is £2m for three years in charge outrageous?  Well it compares to what Gartside was receiving until his passing.

He’s trying to justify Anderson paying himself 2 million for basically running the club into the ground. No wonder folk sick and tired of him. 

[jules_darby]

Just now, Mounts Kipper said:

I didn’t get passed this comment. 

Is £2m for three years in charge outrageous?  Well it compares to what Gartside was receiving until his passing.

He’s trying to justify Anderson paying himself 2 million for basically running the club into the ground. No wonder folk sick and tired of him. 

He gives context that a previous chairman earned similar 

How good a job they did is subjective

 

[tomski]

2 hours ago, SalfordOriginal said:

Stuffy - give it a rest man.  There is few people more BWFC than MK.  That’s from someone who only knows him loosely through games attended

I’ll second that. 

I really despair that anyone is justifying Anderson. I think they’ll be more to come.

[TM Trotter]

Sluffy, for what it's worth, I thought that was quite a balanced, sensible post. 

Not once have you defended Anderson's character or forgiven his actions, you've just put yourself in his sweaty, weight-crushed shoes for a different take on the passionate 'fuck the Andersons' discourse we all like to participate in.

No way are you deserving of being mentioned in the same breath of some of the Anderson apologists on here and beyond.

[Wanderlust]

3 minutes ago, TM Trotter said:

Sluffy, for what it's worth, I thought that was quite a balanced, sensible post. 

Not once have you defended Anderson's character or forgiven his actions, you've just put yourself in his sweaty, weight-crushed shoes for a different take on the passionate 'fuck the Andersons' discourse we all like to participate in.

No way are you deserving of being mentioned in the same breath of some of the Anderson apologists on here and beyond.

It was a balanced post TBF but Sluffy has increasingly moderated his language over recent weeks since it became more and more apparent that the praise he has heaped on "Mr Anderson", and his often more than robust challenges to anyone who dared even suspect that he may be up to no good for the last three years is an untenable position.

Good for him for moderating his language now that it's fairly clear that he backed the wrong horse. Still a long way from manning up and admitting he was wrong or apologising for the streams of abuse he hurled at "anti-Andersons" as he affectionately called us. Time to let it rest now but I just wish he'd not keep popping up with lengthy back-handed justifications - it doesn't look good and it kicks it off again.

Onwards and sideways.

[true white]

Some funny reviews of Ken’s  Motcombs restaurant coming in.😁 Sorry if this has been posted elsewhere.Lads he is not worth arguing about. He’s gone for good. The money he’s been paid, looks like edt has had to sort. Maybe it’s there way of saying we got this wrong. Time to look forward and he’s not worth thinking about. 

[bolty58]

6 hours ago, Sluffy said:

First post on page 1047 of the take(n) over thread.

Seems you rather we be liquidated - and thus prevent a FV takeover.

Have a nice day!

Mounts Kipper

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Posted Saturday at 23:28 (edited)

I hate ken Anderson that much I’d prefer us to liquidate and start again in level 20 if it meant that greasy plastic faced sad excuse for a human being got fuck all out of it. And by the way I think it’ll end with liquidation, Anderson wanted that all along in my opinion. 

Edited Saturday at 23:32 by Mounts Kipper

 

 

Sluffy, full marks mate - I know you are a true BWFC fan (most definitely in my 51% good category) and, as a former proud Grammar School boy, I have deep appreciation of your wordsmithery and (as my International Sales Director boss from Ohio would say) 'sticktoiteveness'. You are off beam about MK though. A White to his very core.

In the light of your seemingly endless stream of epic epistles, I do find myeslf having to ask a question. Have you ever kissed a girl, son?

[Chris Custodiet]

9 hours ago, Mounts Kipper said:

I didn’t get passed this comment. 

Is £2m for three years in charge outrageous?  Well it compares to what Gartside was receiving until his passing.

He’s trying to justify Anderson paying himself 2 million for basically running the club into the ground. No wonder folk sick and tired of him. 

If it was £2m for three years it would be outrageous. But is this true or is it just more fake news?

One thing that has not been cleared up, is what has happened to the £1.6m Rubins said was owed to Anderson when the true figure was £7.5m. Has the £1.6m also been written off?

Whether it has or hasn't, the EFL, as a stakeholder, should demand an independent regulatory investigation as to why this gross misstatement occurred with all the costs, anxieties, confrontations and delays that inevitably flowed from the misstatement and the reasons for it.

P.S. After relegation from the Premiership in 2012, CEO Alan Duckworth left with a large pay off whilst Phil Gartside took on the combined roles of chairman and CEO on a total salary of c.£400K. His average for the previous ten years was £366K, the averages in later years being boosted by bonuses, presumably related to retention of Premiership status.

Combining the roles of chairman and CEO rarely turns out for the better.

Edited August 30, 2019 by Chris Custodiet