BOWTUN BAKED Posted August 28, 2015 Posted August 28, 2015 We're already in the shit. If someone doesn't takeover in the next 12 months, then the fan gets switched on. Quote
Blondi Posted August 28, 2015 Posted August 28, 2015 There is supposed to be an article in the Sun (Nixon),which says the club is for sale at £30 million. Eddie has reduced the asking price apparently. Quote
Sweep Posted August 28, 2015 Posted August 28, 2015 There is supposed to be an article in the Sun (Nixon),which says the club is for sale at £30 million. Eddie has reduced the asking price apparently. £30M is a steal really, especially as we have around £500M worth of assets Quote
Guest Blixa Posted August 28, 2015 Posted August 28, 2015 There is supposed to be an article in the Sun (Nixon),which says the club is for sale at £30 million. Eddie has reduced the asking price apparently. The asking price is neither here nor there. It's all about what he will do about the debt. That's the issue with any potential sale. Quote
Casino Posted August 28, 2015 Posted August 28, 2015 £30M is a steal really, especially as we have around £500M worth of assets prob about right that, is 500million due to the land revaluation Quote
EyesRight Posted August 28, 2015 Posted August 28, 2015 I presume the £30m is what he is actually out of pocket and that will effectively write off the debt, just speculating though... Quote
Sweep Posted August 28, 2015 Posted August 28, 2015 So it's actually £210 million? I'm presuming that if somebody gives him a bag with £30M in it, he will write off all the debt and hand over the keys. Quote
Guest Posted August 28, 2015 Posted August 28, 2015 Jeez, if I had a spare £30m, I'd be onto an asset steal Quote
Durks of Langho Posted August 28, 2015 Posted August 28, 2015 I just had a quick look at the 2013 balance sheet which was the last set of accounts produced as a PLC before switching to a private limited company. The total assets on that balance sheet is £50 million and that includes the land, hotel and academy. The liabilities on that balance sheet are £148 million and there are carefully worded comments made in the chairman statement in relation to the business being a "going concern" with the support of Eddie. I think that we have seen a further deterioration of the financials since 2013 which is highlighted by the £181 million of debt in the press this week. I don't think Eddie has any more money to put in. His net worth is shown as £40 million and he has been dropped in the wealth list due to the money he has put into BWFC so even HIS league position has dropped!! He started off with a reported wealth of £150 million several years ago but clearly has sunk much of that into the club. Any new investor or owner will want their money to go towards the recovery of the business and to benefit the club on the pitch so in real terms Eddie will be lucky to get 10p in the £1 for the existing debt. Quote
burnden Posted August 28, 2015 Posted August 28, 2015 There is supposed to be an article in the Sun (Nixon),which says the club is for sale at £30 million. Eddie has reduced the asking price apparently. Quote
Blondi Posted August 28, 2015 Posted August 28, 2015 (edited) Ditto post. Edited August 28, 2015 by Blondi Quote
gonzo Posted August 28, 2015 Author Posted August 28, 2015 Nixon saying its £30 Million and a clean slate? If the assets are worth £50 million that's one hell of fucking deal. Quote
Spider Posted August 28, 2015 Posted August 28, 2015 Who's up for it? Bolton Wanderersways Football Club. Dig out your passports. Quote
BOWTUN BAKED Posted August 28, 2015 Posted August 28, 2015 The assets are a lot more than 50M. Someone's going to get a bargain there. Let's hope it's not an asset stripper. Quote
Carlos Posted August 28, 2015 Posted August 28, 2015 The assets are a lot more than 50M. Someone's going to get a bargain there. Let's hope it's not an asset stripper. What assets? Bit of land and weigh in the steel at Metro Salvage? Quote
Durks of Langho Posted August 28, 2015 Posted August 28, 2015 Ok, so I just looked at the latest accounts filed at Companies House which run to 30th June 2014 for Burnden Leisure Ltd . Total assets on the balance sheet including fixed/non current assets total £50.3 million. Current assets total £7.6 million giving total assets of £57.9 million. Current liabilities are £38.4 million and long term liabilities are £179.2 million. I cant see any other assets and the net worth of the club is detailed as negative at £162.9 million (in the red) I am not sure why a few folks think the club has more assets to be honest. The last PLC accounts stated it included the hotel, land and academy. Quote
BOWTUN BAKED Posted August 28, 2015 Posted August 28, 2015 (edited) What assets? Bit of land and weigh in the steel at Metro Salvage?Bit of land. Dead cheap is land!.... Bit scurrilous, but I went onto Company houses a few week back & looked at our Phil. Long story short, CH currently have him involved with 13 companies, total assets £110M. Majority of the 13 had zero assets, then I got bored, remembered I had a life & went to the pub Edited August 28, 2015 by BOWTUN BAKED Quote
Carlos Posted August 28, 2015 Posted August 28, 2015 Land is worth fuck all if you can't do anything with it, it's just a field. Quote
DaveTheRave Posted August 28, 2015 Posted August 28, 2015 Land is worth fuck all if you can't do anything with it, it's just a field. Why can't somebody do something with it? More shops or houses maybe. Quote
Carlos Posted August 28, 2015 Posted August 28, 2015 Why can't somebody do something with it? More shops or houses maybe. You won't get planning permission for the Lostock academy land. The Middlebrook land has more chance, I'd say that's our largest asset. Without planning permission land is pretty worthless. Quote
Ghana White Posted August 28, 2015 Posted August 28, 2015 I don't really understand a lot of this. Are the school and offices behind the north stand still being built? How are we doing that if we're in so much debt? Will that bring in a revenue to stop us losing money every year? Quote
Sweep Posted August 28, 2015 Posted August 28, 2015 What assets? Bit of land and weigh in the steel at Metro Salvage? You've not been paying attention have you Carlos, the land and hotel are worth an estimated £500M Quote
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