Smiffs Posted February 12, 2017 Posted February 12, 2017 I'd imagine if the only asset that sports shield has is BWFC (effectively the Macron) then they could put a charge on that asset or put SS into liquidation taking control of their assets? OK I understand that could in theory happen. I cannot believe someone handed over the keys to sportshield, thus allowing that to happen. Please tell me that's not happened. Quote
birch-chorley Posted February 12, 2017 Posted February 12, 2017 On the flip side I cant see how a finance company would transfer DH £4m without some sort of asset to guarantee it against I've always been of the impression that the Blu Marble loan was secured against the ground Quote
gonzo Posted February 12, 2017 Posted February 12, 2017 OK I understand that could in theory happen. I cannot believe someone handed over the keys to sportshield, thus allowing that to happen. Please tell me that's not happened. Surely that couldn't have happened without owning it in the first place? Ie 100%? Unless ED did it. Quote
birch-chorley Posted February 12, 2017 Posted February 12, 2017 (edited) Surely that couldn't have happened without owning it in the first place? Ie 100%? Unless ED did it. Assuming that's why KA said it will go legal He doesn't think that Blu Marble have the loan secured against the ground whilst DH & BM do? Edited February 12, 2017 by birch-chorley Quote
jules_darby Posted February 12, 2017 Posted February 12, 2017 Assuming that's why KA said it will go legal He doesn't think that Blu Marble have the loan secured against the ground whilst DH & BM do? That's how I read it The football league and ED may have questions to answer IMO Quote
onlyoneawalker Posted February 12, 2017 Author Posted February 12, 2017 The clock can tick at 50% a day, isn't that Sport Shields problem? It is but it prevents a sale of deanos shares ineffect - dean won't sell without blu marble sorted Ken won't buy over the odds to satisfy ridiculous loans terms - stalemate ........ Ken won't put in long term funds with no security Deano can't because he's no money but he'll hide behind the £4m he's put in ......... end game we get a deal from blu marble Ken raises the cash through debt and equity to share the pain maybe but as with Edwin no one will do anything until the shits really hitting the fan so far all we've had to do is sell a footballer for £3.5m so be it Quote
land_and_sea Posted February 12, 2017 Posted February 12, 2017 If Sportsshield did go under, and blu marble took the club's assets,perhaps in effect blue marble would end up owning the club, effectively erasing the debt, They could then sell the club to proper owners. There's worse possible outcomes mentioned on this site. Just a thought. Quote
gonzo Posted February 12, 2017 Posted February 12, 2017 If Sportsshield did go under, and blu marble took the club's assets,perhaps in effect blue marble would end up owning the club, effectively erasing the debt, They could then sell the club to proper owners. There's worse possible outcomes mentioned on this site. Just a thought. It's deanos name on the ticket and KA is majority stakeholder no? Quote
deane koontz Posted February 12, 2017 Posted February 12, 2017 Sell the ground for a fracking location. It's shit anyway. Quote
leebwfc Posted February 12, 2017 Posted February 12, 2017 If KA can prove that BM dont have the stadium or any other assets secured by the loan then that sorts that issue and drops SS and DH right in the shit (BM as well I suppose because they'll struggle to get the 5m+ back without that security) This seems to be Kens plan, as has been said already "before my time son". But iff the assets are secured I suppose we are in the deepest of shit! What would happen to the shares that DH / SS have in that scenario ? Quote
passmosster Posted February 12, 2017 Posted February 12, 2017 Have to sell them sharpish to prevent BluMarble taking over DH's home. Isn't that the plan? Don't understand the mechanics of the BluMarble charge. I suppose that is what KA is playing on. Ultra Vires and all that jazz. Quote
land_and_sea Posted February 12, 2017 Posted February 12, 2017 Well Gonzo,I'm not sure of the details.I'm just hoping that in the worst case scenario blue marble might actually have an interest in owning the club themselves. Quote
Casino Posted February 12, 2017 Posted February 12, 2017 Well Gonzo,I'm not sure of the details.I'm just hoping that in the worst case scenario blue marble might actually have an interest in owning the club themselves. I'd rather the LOV loons owned it Quote
Campos_Wig Posted February 12, 2017 Posted February 12, 2017 Didn't ED leave 15 million of debt on the balance sheet also secured against the stadium ? With a requirement that the money was to be repaid on promotion to the PL ? At least if the worst does happen, this should stop Blu Marble/SS getting the stadium for just 5 million ? Quote
Kane57 Posted February 12, 2017 Posted February 12, 2017 I'd rather the LOV loons owned it First act, close down twitter accounts Quote
burnden Posted February 13, 2017 Posted February 13, 2017 Talking Bolton on radio manc football hour tonight http://www.bbc.co.uk/programmes/p04qv4ph#play Quote
Farrelli Posted February 13, 2017 Posted February 13, 2017 Not really, jack D interview from the weekend with KA. Iles was also on with Steve Battersby in the studio offering a fan's perspective and ST member Dan. All are in agreement that it is a mess and very worrying. It was said by SB and Dan that administration should possibly have been sought last march as the outcome now could be far worse. Quote
Casino Posted February 13, 2017 Posted February 13, 2017 Not really, jack D interview from the weekend with KA. Iles was also on with Steve Battersby in the studio offering a fan's perspective and ST member Dan. All are in agreement that it is a mess and very worrying. It was said by SB and Dan that administration should possibly have been sought last march as the outcome now could be far worse. and was there anybody in the studio with the brains to make the case they may be talking bollocks? who was the dan? that scruffy looking, short arsed fcuker on the steering group? Quote
Farrelli Posted February 13, 2017 Posted February 13, 2017 and was there anybody in the studio with the brains to make the case they may be talking bollocks? who was the dan? that scruffy looking, short arsed fcuker on the steering group? Dan, can't remember the surname but he is a lawyer. Quote
Farrelli Posted February 13, 2017 Posted February 13, 2017 In what way? I suppose a voluntary administration is preferable to being wound up if the present owners can't agree a settlement. Quote
MancWanderer Posted February 13, 2017 Posted February 13, 2017 I will happily admit that I am now completely and utterly baffled with what is going on Would anyone care to put on here a simple and clear explanation of the ownership/finances of BWFC Or is that not possible anymore? Quote
gonzo Posted February 13, 2017 Posted February 13, 2017 The court will agree a settlement. I'd probably say in favour of the party that has a pot to piss in. Quote
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