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

i do pal

 

but its about timing

 

ed could have paid it and left it with ss as debt

 

yet ss are good cos they paid it and davies is bad cos he didn't

 

either way, it would have been in the bwfc borrowing column

 

thats the bit that leads me to bang my head against the wall

 

Agreed.

 

ED drew a line in the sand and stuck to it, maybe one day we'll know the reasons why.

 

I wont be holding my breath though.

i for one enjoy the financial discussions, so im happy you are around

 

id appreciate you explaining in simple terms what is happening

 

itll be easier than relying on bumping into random folk on trains

We are having to put the pieces together because we are not being told what's happening. There are quite a few on this website

(and others) that don't want to know and would rather cling to completely uninformed biases.

 

You need to understand the background/history to even start to understand the present.

 

We know ED spent £170m on acquiring BWFC and supporting it. We know that was more than he was ever estimated to be worth so we can reasonably assume that his other investments had increased in value since the last time he appeared on a rich list. His former business partner, John Taylor, still appears on rich lists. Eddie doesn't.

 

It should have come as a surprise to no-one that Eddie would eventually have to draw a line.The surprising thing was that he kept putting money in as long as he did, but we don't know what he had left at that point.

 

Its clear that the word was out that BWFC was up for sale, that there were valuable un-mortgaged assets (Eddie had paid the bank off apart from a small working overdraft) and that the owner was more than ready to be out of it.

 

It seems to have attracted a number of interested parties.

 

Eddie was rightly cautious that the interest may, not be in the football club, but the valuable assets that could be mortgaged or sold.

 

In the meantime the team's performances got worse, more losses accumulated and Phil Gartside became seriously ill. Eddie was obliged to step in and appointed Trevor Birch to help dig the club out of the hole and avoid going into liquidation or administration.

 

Some property was sold to create a fund of money to keep the club going this season whilst negotiations continued to try to get at least a bit of extra cash to keep it going for a bit longer than that.  HMRC put additional pressure on petitioning for the club to be wound up. Eddie had good advisors which bought time but the deal with new owners was a poor one if the only one that would ensure survival for a bit longer.

 

The new owners have bought the club for a pound and mortgaged the assets. We know some of the money will be used to pay HMRC but there are other creditors and we don't know how much costs, expenses, remuneration etc. are. They may not be minimal.

Edited March 19, 201610 yr by GudniB

i think i had most of that, but thanks

 

do we know how much the good guys have borrowed?

Very important for the supporters trust to get the stadium designated as an asset of community value.

Very important for the supporters trust to get the stadium designated as an asset of community value.

Exactly

Very important for the supporters trust to get the stadium designated as an asset of community value.

 

before it gets licensed for fracking.

i think i had most of that, but thanks

 

do we know how much the good guys have borrowed?

Who are the good guys? The 'consortium' (whatever that may mean) was supposed to be coming up with £7.5m. Basically though its Eddie' s money.

Anyone know how Rushen United got on today? I wonder if Eddie was watching them. Better than being in Bristol methinks.

Edited March 19, 201610 yr by GudniB

This BluMarble security looks to be the best security available. Not just against a car park or stadium but everything the football club has. Also looks to me like if we ever default on a single payment then BluMarble would have the power to appoint an administrator

We are having to put the pieces together because we are not being told what's happening. There are quite a few on this website

(and others) that don't want to know and would rather cling to completely uninformed biases.

 

You need to understand the background/history to even start to understand the present.

 

We know ED spent £170m on acquiring BWFC and supporting it. We know that was more than he was ever estimated to be worth so we can reasonably assume that his other investments had increased in value since the last time he appeared on a rich list. His former business partner, John Taylor, still appears on rich lists. Eddie doesn't.

 

It should have come as a surprise to no-one that Eddie would eventually have to draw a line.The surprising thing was that he kept putting money in as long as he did, but we don't know what he had left at that point.

 

Its clear that the word was out that BWFC was up for sale, that there were valuable un-mortgaged assets (Eddie had paid the bank off apart from a small working overdraft) and that the owner was more than ready to be out of it.

 

It seems to have attracted a number of interested parties.

 

Eddie was rightly cautious that the interest may, not be in the football club, but the valuable assets that could be mortgaged or sold.

 

In the meantime the team's performances got worse, more losses accumulated and Phil Gartside became seriously ill. Eddie was obliged to step in and appointed Trevor Birch to help dig the club out of the hole and avoid going into liquidation or administration.

 

Some property was sold to create a fund of money to keep the club going this season whilst negotiations continued to try to get at least a bit of extra cash to keep it going for a bit longer than that. HMRC put additional pressure on petitioning for the club to be wound up. Eddie had good advisors which bought time but the deal with new owners was a poor one if the only one that would ensure survival for a bit longer.

 

The new owners have bought the club for a pound and mortgaged the assets. We know some of the money will be used to pay HMRC but there are other creditors and we don't know how much costs, expenses, remuneration etc. are. They may not be minimal.

Gudni

 

Your evidence seems to suggest the ED isn't a massive wanker.

 

Tut tut.

i think i had most of that, but thanks

 

do we know how much the good guys have borrowed?

Not for sure but speculation is that its about £5m with a 10% admin fee and Wonga style interest rates.

The third bit may be exaggerated a tad but its unlikely to be cheap.

We are having to put the pieces together because we are not being told what's happening. There are quite a few on this website

(and others) that don't want to know and would rather cling to completely uninformed biases.

 

You need to understand the background/history to even start to understand the present.

 

We know ED spent £170m on acquiring BWFC and supporting it. We know that was more than he was ever estimated to be worth so we can reasonably assume that his other investments had increased in value since the last time he appeared on a rich list. His former business partner, John Taylor, still appears on rich lists. Eddie doesn't.

 

It should have come as a surprise to no-one that Eddie would eventually have to draw a line.The surprising thing was that he kept putting money in as long as he did, but we don't know what he had left at that point.

 

Its clear that the word was out that BWFC was up for sale, that there were valuable un-mortgaged assets (Eddie had paid the bank off apart from a small working overdraft) and that the owner was more than ready to be out of it.

 

It seems to have attracted a number of interested parties.

 

Eddie was rightly cautious that the interest may, not be in the football club, but the valuable assets that could be mortgaged or sold.

 

In the meantime the team's performances got worse, more losses accumulated and Phil Gartside became seriously ill. Eddie was obliged to step in and appointed Trevor Birch to help dig the club out of the hole and avoid going into liquidation or administration.

 

Some property was sold to create a fund of money to keep the club going this season whilst negotiations continued to try to get at least a bit of extra cash to keep it going for a bit longer than that. HMRC put additional pressure on petitioning for the club to be wound up. Eddie had good advisors which bought time but the deal with new owners was a poor one if the only one that would ensure survival for a bit longer.

 

The new owners have bought the club for a pound and mortgaged the assets. We know some of the money will be used to pay HMRC but there are other creditors and we don't know how much costs, expenses, remuneration etc. are. They may not be minimal.

You would assume his investments allowed him to blow 170 million I'd say he never did spend 170 million in real money.

Gudni

 

Your evidence seems to suggest the ED isn't a massive wanker.

 

Tut tut.

Just telling you what I know from audited facts and other corroborative published information. Its all  too painfully clear.

I was interested to read that Eddie played football for Farnwoth and Bolton schoolboys and continued playing until he was 35 (but not in the Bolton area).

That being the case, it seems likely that I have played football against him but otherwise never met him.

Who are the good guys? The 'consortium' (whatever that may mean) was supposed to be coming up with £7.5m. Basically though its Eddie' s money.

Anyone know how Rushen United got on today? I wonder if Eddie was watching them. Better than being in Bristol methinks.

 

exactly

Not for sure but speculation is that its about £5m with a 10% admin fee and Wonga style interest rates.

The third bit may be exaggerated a tad but its unlikely to be cheap.

So right now under SS we are 5.5 million pounds in debt, would you say more? Do you think the debt climbing will continue? Thanks.

i think i had most of that, but thanks

 

do we know how much the good guys have borrowed?

Do we know that they have borrowed at all?

Do we know that they have borrowed at all?

Yes because of the Companies House charge. Unless they are giving finance companies the highest ranking charge possible against all club assets and not borrowed anything in return.

Edited March 20, 201610 yr by ex_midlandwhite

So right now under SS we are 5.5 million pounds in debt, would you say more? Do you think the debt climbing will continue? Thanks.

Not if the admin fee came out of the £5m. So far as we know, Eddie's written off all but a bit of his loans as a counter asset-stripping measure

We don't presently know how much Burnden Leisure owes or whether it still has a working overdraft. It would be surprising if there weren't also a few unpaid & worried creditors

The only prediction I would make is that money is going to be tight - very tight. But I expect you knew that anyway.

Edited March 20, 201610 yr by GudniB

Not if the admin fee came out of the £5m. So far as we know, Eddie's written off all but a bit of his loans as a counter asset-stripping measure

We don't presently know how much Burnden Leisure owes or whether it still has a working overdraft. It would be surprising if there weren't also a few unpaid & worried creditors

The only prediction I would make is that money is going to be tight - very tight. But I expect you knew that anyway.

Feeney's interview in the BN suggests the players still haven't received all of their salaries, presumably around the time we were borrowing from the PFA

Feeney's interview in the BN suggests the players still haven't received all of their salaries, presumably around the time we were borrowing from the PFA

Fuck em

Fuck em

I've defended the players on occasion these last few months. Not being paid in any job is hardly likely to get the best out of employees.

 

But after yesterday, they can all just fuck off to Morecambe and walk into the sea.

 

Cunts to a man.

Fuck em

Seconded

Fuck em

With a two foot length of 3"x2"

Fuck em

 

 

With a two foot length of 3"x2"

 

With a rusty nail in the end.

Fuck em

 

 

With a two foot length of 3"x2"

 

 

With a rusty nail in the end.

 

And vinegar for lube.

Feeney's interview in the BN suggests the players still haven't received all of their salaries, presumably around the time we were borrowing from the PFA

It might explain why they can't be arsed working their socks off.If I wasnt being paid in my job I'd be doing the bare minimum until I left.