Article in Sunday Express saying takeover imminent.....

Isn't FFP also based on the total loses for the reporting year? If the loses are outside a set percentage then the club fails FFP so can only bring in if they shift out?

Was under the impression then new owners means new start.. ie as soon as business plan in place embargo is lifted.... all FFP failures are attributed to old owners so we are free to sign who we want. may be wrong but Deano didnt seem overly bothered about it on GMR, just said he wanted to get things sorted with the takeover then look at recruitment. surely he would know if it wasnt that easy?

I guess we'll find out as and when the deal is done and we actually do have new owners......not sure when that will be yet

 We failed because we couldn't submit a viable business plan for the next 12 months. There is one now - if this is submitted (and accepted) and we met the other FFP requirements the embargo can be lifted. It's not the same as the other embargos in place at other clubs

Interesting read

 

http://mannyroad.com/

Interesting read

 

http://mannyroad.com/

Although ironically written by someone hiding behind an alias that purports to be a real name. Basically a troll who has googled a few names.

Football league approval of owners is only applicable for anyone with 30% or more in shares

So If you had Robert Mugabe, Saddam Hussein, cornel Gadafi and Tamraz all with 25% the football league would give it the thumbs up?

 

Or do they instead tot up all the not rights and if the total shareholding is over 33% it's not refused?

Its the 2015 accounts that have not been signed off for 'going concern' reasons.

 

The accounts drawn up to 30 June 2014 were signed off and filed on 30 June 2015. They showed a net debt of £183million of which £174million was owed to Moonshift (comprising £150million capital and interest aggregating to c.£24million).

 

The Moonshift loans started in 2007/08, originally at an interest rate of 10% (only slightly higher than the secured bank borrowing but with significantly greater risk to the lender).

Later the interest rate was reduced to 5% and then nil.

 

The average Moonshift interest charge against profit has been about 3% but unless Premiership status could be maintained (and at a profit) there was no way the interest could ever have been paid without additional Moonshift lending.

 

The biggest increase in the loan balance (from £23million to £85million) occurred in 2009/10 when Moonshift paid off all but a small amount of bank borrowing and helped finance the £15million spent on player acquisitions in that year.

 

The problem in 2014 was that Eddie had invested more than he had ever been estimated to be worth (or that he had gained from the reported sales of his shares in Strix) and he could not undertake to keep funding the club any longer. Without the guarantee of further funding, neither the board nor the auditors were entitled to sign the accounts off as a 'going concern' until twelve months from the ​balance sheet date.

 

Eddie seems to have been insistent upon Sports Shield's backers proving that they can satisfy the 'going concern' requirements. If they can, it should be possible to get the 2015 accounts signed off and the FFP ban lifted (always assuming, of course, that other FFP rules have not been breached).

Edited February 26, 201610 yr by GudniB

...and assuming SS actually have any money to spend on loanees.

...and assuming SS actually have any money to spend on loanees.

That too. There's many a  slip....!

Anybody have an idea of how long football league ratification takes? Hoping that the takeover is confirmed as early as tomorrow, could provide a boost on the pitch.

48 hours. Probably.

48 days probably.

After all, it's only Bolton Wanderers. Not as if it's important or urgent.

It'll be at the bottom of some junior's in-tray.

Edited February 26, 201610 yr by Rembrandt

Anybody have an idea of how long football league ratification takes? Hoping that the takeover is confirmed as early as tomorrow, could provide a boost on the pitch.

 

Back in court today, according to DTelegraph.

 

Daily Cause List

Bankruptcy & Companies Court

Hearing Room 9

Floor One

Rolls Building

before Mr Deputy Registrar Garwood

 

10.30 kick off, next booking 11.30.

Edited February 26, 201610 yr by MalcolmW

Also at FL getting fit & proper persons certificate.(Deano & Co.)

According the Glasgow express.

Anybody have an idea of how long football league ratification takes? Hoping that the takeover is confirmed as early as tomorrow, could provide a boost on the pitch.

 

Hopefully this afternoon according to a BN article

Sounds promising. Although I see that Marc Iles is playing it down, but as I've read on here, he probably has less of a clue than us.

What time are we appointing Phil Brown?

What time are we appointing Phil Brown?

Next 48 hours.

The tanning parlours of horridge are having all their beds retubed in preparation.

www.theguardian.com/football/2016/feb/26/neil-lennon-bolton-wanderers-interview

www.theguardian.com/football/2016/feb/26/neil-lennon-bolton-wanderers-interview

Reads like a concession speech, that. Please not Brown next though.

A good read

Reads like a concession speech, that. Please not Brown next though.

 

apart from the building a team thing. hes brought plenty of crap in as far as i can see. wasting money left right and centre.