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Anderson pay off


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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. Tha

Ladies, let it drop eh   It's a new dawn, its a new day We have our club back Obvs MJ is one of us, but Sharon being a northern lass is a bonus Let's just fucking enjoy it

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 reaso

3 minutes ago, Sluffy said:

Substantially smaller and far quieter Bolton football forum.

Usually free of trolls such as the two posters above.

 

 

Ahh right, I'm a Wednesday fan, so you should see our forums for trolls, but I've always liked Bolton seeing as I live in Atherton, and my lads a Bolton fan, so when a few months ago everything kicked off, I asked a few mates what forums i need to go to, to try and find out what's going on, they said here, and I actually enjoy it, so, unless I'm booted I'll stay 😂

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10 minutes ago, Casino said:

Ladies, let it drop eh

 

It's a new dawn, its a new day

We have our club back

Obvs MJ is one of us, but Sharon being a northern lass is a bonus

Let's just fucking enjoy it

At least til 3.01pm

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3 hours ago, marcx666 said:

Ahh right, I'm a Wednesday fan, so you should see our forums for trolls, but I've always liked Bolton seeing as I live in Atherton, and my lads a Bolton fan, so when a few months ago everything kicked off, I asked a few mates what forums i need to go to, to try and find out what's going on, they said here, and I actually enjoy it, so, unless I'm booted I'll stay 😂

You're more welcome than some on here, you yorkshire bastard 

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15 hours ago, Sluffy said:

Fascinating stuff as always Chris, thank you again for your professional insight on to all of this.

So if I understand you correctly the £1.6m stated by Rubin's is nothing at all to do with the £5m secured by Anderson from the 'BluMarble' bridging loan and relates to the vaguely understood £2.5m element of the £7.5m EDT claim owed to them by Anderson secured on his personal wealth.

This £2.5m is further discounted by the £525k book entry (and presumably now the taxes set aside to pay) the purchase of Holdsworth's share plus the tax - leaving the £1.6m stated as a secured creditor in BL/BWFAC.

As for the £5m, IF the BM loan was secured against the hotel (I recall reading somewhere that they were about to crystallise their defaulted loan and take possession of the hotel), would not then the £5m be showing on BL's other arm of business, namely the hotel, and thus be stated by the hotel Administrator and not Rubins?

How could Rubins state the £5m as security for Anderson when they don't control all the assets there belonged to BL and which I would have assumed would have been more logically placed against Bolton Whites (Hotel) if the security was set against replacing a previous security for the hotel that the £5m had just cleared?

Wouldn't the issue be more why didn't Quantama show Anderson as a £5m secured creditor rather than why Rubins did not (well added it to the £1.6m they had already stated)?

I'm out of my depth again and more than happy to bow to your knowledge and vast experience on such details.

Please accept my apologies, Sluffy, but just after I had posted my last comment and gone to put the kettle on, I realised there was one bit that was incorrect so I shortly afterwards took that bit out. You have responded to the unamended posting.

Ken claims he was owed £7.5m inferring that there were no net repayments of his loan account being monies that he had borrowed from Eddie and owed to Eddie's estate. Rubins on the other hand included only £1.6m.

Although I expect the accusation may be made, it is simply not consistent with any known facts or logic that Ken took out the difference. On the other hand it is more than possible that he took out c.£900K around the time of the Madine sale in lieu of fees for achieving the sale, persuading Blumarble to reduce their demands by c.£1m and turning in an overall profit for the first time in years whilst also maintaining Championship status.

I expect that any amounts withdrawn by Ken would initially be recorded in the books as directors loan repayments rather than fees until such time as the exact fee was formalised. Its fairly normal for this kind of transaction to be dealt with following discussions with the external accountants/auditors.

I don't believe the £525K is part of this at all. That was in the previous year and although I believe that it essentially funded the acquisition of Holdsworth's shares whilst avoiding unwelcome tax charges, he was also setting down a precedent. He actually went one step further by calling an AGM, at a cost of c.£10K, giving minority shareholders an opportunity to question it. It was an obvious question but no-one asked it.

Did Ken know that Rubins were going to mark down his loan account by £5.9m? Who knows, but I expect Ken will have known that if he didn't bring in Quantuma as administrators to the hotel he was in the brown stuff up to his neck. It seems to me to have been a tactic forced upon him with all the consequences that flowed from it.

Members of the House of Commons and House of Lords have all expressed their various concerns and had their say about Bolton and Bury but now the whole thing needs independent investigation sponsored by key stakeholders like the EFL and PFA. Questions must be asked, lessons must be learned.

 

 

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The £525k was paid as consultancy fees, per the financial statements we all love... made him 15th best paid executive in football... outrageous for a league one club, more than 8 premier league CEO’s... let’s see what the next 2 years consultancy was... I imagine it would be significantly more than that the year of the Madine sale. 

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19 minutes ago, DLH said:

The £525k was paid as consultancy fees, per the financial statements we all love... made him 15th best paid executive in football... outrageous for a league one club, more than 8 premier league CEO’s... let’s see what the next 2 years consultancy was... I imagine it would be significantly more than that the year of the Madine sale. 

In the days before computers accountants spent most of their time trying to get the manual records to balance.

Some were better at it than others but I recall one of the slower members of staff  being described thus,  ''he couldn't balance a pound of tea and a pound of sugar''. It reminded me a bit of a description of Gary Megson who allegedly ''couldn't trap a bag of cement''.

P.S. Can you read?

Edited by Chris Custodiet
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10 minutes ago, Chris Custodiet said:

P.S. Can you read?

There’s been some bell ends on here since WW came over from rivals but you’re doing a cracking job of trying to outdo them all. Congratulations 

Edited by jules_darby
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6 hours ago, Flannel Truscott said:

You're more welcome than some on here, you yorkshire bastard 

He could be from Atherton and supports Wednesday because his Dad did or his Grandad or whatever.. Anyway Sheff Wed are a good football club and they did have the misfortune of having Megson for a time, so we have something in common.

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40 minutes ago, Chris Custodiet said:

P.S. Can you read?

Do you find that people just punch you in the face a lot?

 

You could be the soundest bloke in the world but on here you are coming across as a complete and utter cretinous cunt!  Is that your goal?

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4 minutes ago, Morizio said:

Do you find that people just punch you in the face a lot?

 

You could be the soundest bloke in the world but on here you are coming across as a complete and utter cretinous cunt!  Is that your goal?

I have to admit that I sometimes find myself thinking  that George Bower wasn't entirely wrong about one thing but it is incredibly frustrating.

Why not for once address the issue and tell me if you think there should be an independent investigation or should it just be forgotten that Bury have gone out of the league and Bolton come close to it?

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19 minutes ago, Chris Custodiet said:

 

Why not for once address the issue and tell me if you think there should be an independent investigation or should it just be forgotten that Bury have gone out of the league and Bolton come close to it?

We all reckon there should be. And we all reckon you're the man to do it. After all you are the totally unpretentiously named Man Who Watches The Watchman. 

You are the only man with the intellect, knowledge, skill, experience, impartiallity, humilty, humanity, self awareness and tact to pull it off.

I'll write to Debbie Jevans and Nick Craig and recommend you immediately.

Can you do Bolton and Burys investigations or are you limited to one? 

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12 minutes ago, RoadRunnerFan said:

We all reckon there should be. And we all reckon you're the man to do it. After all you are the totally unpretentiously named Man Who Watches The Watchman. 

You are the only man with the intellect, knowledge, skill, experience, impartiallity, humilty, humanity, self awareness and tact to pull it off.

I'll write to Debbie Jevans and Nick Craig and recommend you immediately.

Can you do Bolton and Burys investigations or are you limited to one? 

Kind of you to say so but its not for me. I still know what tripe looks like but I'm past my best before date.

Tact? Not enough really. Sometimes I lose patience with the excessively slow-witted and head-in-the-sand types.

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50 minutes ago, RoadRunnerFan said:

After all you are the totally unpretentiously named Man Who Watches The Watchman. 

You are the only man with the intellect, knowledge, skill, experience, impartiallity, humilty, humanity, self awareness and tact to pull it off.

:)

 

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25 minutes ago, Chris Custodiet said:

Kind of you to say so but its not for me. I still know what tripe looks like but I'm past my best before date.

Tact? Not enough really. Sometimes I lose patience with the excessively slow-witted and head-in-the-sand types.

Earlier on in this thread you posted some, as usual, informative and knowledgeable facts (and opinions).   There were a couple of posts where you you did not insult or patronise anyone, nor did you mention FIBS or the Beeno.   I was impressed.

I started to write a response to you which commended you on your apparent new-found civility and to hope that, like all good educators, you could share without shaming or insulting.

I have had to scrap that response as it appears a leopard cannot change its spots.  It's a pity, but you just appear to want to intimidate people with your obnoxious superiority complex.   Maybe you weren't always like this but your desire to antagonise would seem to outweigh your usefulness as the world's greatest accountant.

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2 hours ago, Chris Custodiet said:

Please accept my apologies, Sluffy, but just after I had posted my last comment and gone to put the kettle on, I realised there was one bit that was incorrect so I shortly afterwards took that bit out. You have responded to the unamended posting.

Ken claims he was owed £7.5m inferring that there were no net repayments of his loan account being monies that he had borrowed from Eddie and owed to Eddie's estate. Rubins on the other hand included only £1.6m.

Although I expect the accusation may be made, it is simply not consistent with any known facts or logic that Ken took out the difference. On the other hand it is more than possible that he took out c.£900K around the time of the Madine sale in lieu of fees for achieving the sale, persuading Blumarble to reduce their demands by c.£1m and turning in an overall profit for the first time in years whilst also maintaining Championship status.

I expect that any amounts withdrawn by Ken would initially be recorded in the books as directors loan repayments rather than fees until such time as the exact fee was formalised. Its fairly normal for this kind of transaction to be dealt with following discussions with the external accountants/auditors.

I don't believe the £525K is part of this at all. That was in the previous year and although I believe that it essentially funded the acquisition of Holdsworth's shares whilst avoiding unwelcome tax charges, he was also setting down a precedent. He actually went one step further by calling an AGM, at a cost of c.£10K, giving minority shareholders an opportunity to question it. It was an obvious question but no-one asked it.

Did Ken know that Rubins were going to mark down his loan account by £5.9m? Who knows, but I expect Ken will have known that if he didn't bring in Quantuma as administrators to the hotel he was in the brown stuff up to his neck. It seems to me to have been a tactic forced upon him with all the consequences that flowed from it.

Members of the House of Commons and House of Lords have all expressed their various concerns and had their say about Bolton and Bury but now the whole thing needs independent investigation sponsored by key stakeholders like the EFL and PFA. Questions must be asked, lessons must be learned.

Thank you once again Chris.

Don't let the haters drive you away.

 

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5 hours ago, Chris Custodiet said:

Kind of you to say so but its not for me. I still know what tripe looks like but I'm past my best before date.

Tact? Not enough really. Sometimes I lose patience with the excessively slow-witted and head-in-the-sand types.

Take it you are in the Pearson for manager camp then? 

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17 hours ago, Casino said:

Ladies, let it drop eh

 

It's a new dawn, its a new day

We have our club back

Obvs MJ is one of us, but Sharon being a northern lass is a bonus

Let's just fucking enjoy it

Spot on. Just consign any talk about Anderson to the same bin as Megson. The cunts bin. Not to be opened unless an emergency or when the accounts are finally revealed 

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Disagree

Anderson is a fucking disgrace. Keep it to one Fred but that cunt shouldn’t walk into the night. I hope he gets pursued. 

The bloke brought the club to its knees and I’ll not forget him in a long time. As will many more.

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