Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 I checked on BWFC accounts and the money loaned by Brett Warburton is secured on land we own off Lostock Lane, so Brett not borrowed the money for the love of BWFC that also indicates we are already selling off assets to keep afloat. Quote Link to comment Share on other sites More sharing options...
Morizio Posted December 2, 2015 Share Posted December 2, 2015 Which bit of the car park was sold? The tarmac bit what the cars drive on. Quote Link to comment Share on other sites More sharing options...
Smiley Posted December 2, 2015 Share Posted December 2, 2015 Which bit of the car park was sold? I've been told it was space we owned over the roundabout nearer to Keoghs. But not sure how true. If so, doesn't really affect the club. Could be wrong. Heard the hotel will sell for around £12m. Not sure how much truth in that either. But if the likes of Sports Shield buy us for £15m. They could soon start asset stripping to get their money back and a small profit. Which would be terrible if allowed to happen. Don't we own all of the retain land around Middlebrook? Does the club own the land all of the nearby houses are on (Bigtoe's estate)? Quote Link to comment Share on other sites More sharing options...
Moderators Carlos Posted December 2, 2015 Moderators Share Posted December 2, 2015 We own all the swamp land and the fracking rights. Quote Link to comment Share on other sites More sharing options...
Site Supporter HomerJay Posted December 2, 2015 Site Supporter Share Posted December 2, 2015 (edited) voluntary administration is totally different to a creditor winding us up. this way we are in total control and basically sticking two fingers up to any creditors. hence the football league have their point deduction rule. if we take this route, we are wiping the slate clean - fucking of all debts and players on large contracts (at the end of the season) then starting (unless we go on a stomping run now) in league one next season, with minimal overheads and a bunch of younger, low wage players. bring it on! Edited December 2, 2015 by HomerJay Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted December 2, 2015 Moderators Share Posted December 2, 2015 I checked on BWFC accounts and the money loaned by Brett Warburton is secured on land we own off Lostock Lane, so Brett not borrowed the money for the love of BWFC that also indicates we are already selling off assets to keep afloat. which page is that buried on? Quote Link to comment Share on other sites More sharing options...
snowball Posted December 2, 2015 Share Posted December 2, 2015 well at least we're on the same page with one thing, some of the assets aren't worth much the land that the ground is on could be worth many millions i dunno the costs of dropping the ground but if its 5 million for a car park and theres demand, who knows cant see any of that being the case anyway, eddie davies is saying that a club he took on with 60 million debt is now available debt free and he hasn't had 60 million out of it so, i really dont see how hes the bad guy maybe he was just too ambitious You keep saying we were £60 million in debt. IIRC you took this as gospel from a bloke you had previously derided as a loon but when he said something you agreed with it became a fact. Is it a fact. Was it a 'real' debt or a pretend one like Eddie's £180 million (and rising was). It certainly suits those who see (or maybe saw in light of what is happening now) Eddie & Gartside as the saviours of the club. I doubt Gorgon Hargreaves would agree with the figure for one. Quote Link to comment Share on other sites More sharing options...
stevieb Posted December 2, 2015 Share Posted December 2, 2015 Happy to let this play out, the panic on here is borderline Jihadi Cracking centre back. Could do with him on Saturday, Tunisian legend. Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 which page is that buried on? Sorry confusing you,it's not in the last set of accounts but if you have access to the currents financials it lists loans and mortgages and who is owed the money and if it's secured on anything. The nucleus finance loan is also listed and is secured borrowing as well. Quote Link to comment Share on other sites More sharing options...
snowball Posted December 2, 2015 Share Posted December 2, 2015 Gordon Taylor, have I got it right? Said we owe money to HMRC and the parachute payments have been 'mortgaged off', short term results on field don't matter, club is fighting for its life.- so that's on top on top of not paying players, having at least one 'pay day loan' type arrangement, losing £1million a month, selling a car park, borrowing off Mr Warburton against 'assets'. Exactly when can we panic?? Quote Link to comment Share on other sites More sharing options...
Blondi Posted December 2, 2015 Share Posted December 2, 2015 I checked on BWFC accounts and the money loaned by Brett Warburton is secured on land we own off Lostock Lane, so Brett not borrowed the money for the love of BWFC that also indicates we are already selling off assets to keep afloat. I thought the money Brett Warburton loaned us is secured on the stadium? I think the loan from Nucleus finance is the same. Quote Link to comment Share on other sites More sharing options...
Sweep Posted December 2, 2015 Share Posted December 2, 2015 I heard Gordon Taylor saying we had mortgaged off the parachute payments, as snowball says above. Now that is shit and really shows how deep a pile of shit were in....also might explain why we're losing so much money now, as we'll not be getting our hands on that £8M we all thought was coming at some point this season Quote Link to comment Share on other sites More sharing options...
Ani Posted December 2, 2015 Share Posted December 2, 2015 Gordon Taylor, have I got it right? Said we owe money to HMRC and the parachute payments have been 'mortgaged off', short term results on field don't matter, club is fighting for its life.- so that's on top on top of not paying players, having at least one 'pay day loan' type arrangement, losing £1million a month, selling a car park, borrowing off Mr Warburton against 'assets'. Exactly when can we panic?? Panic as soon as panicking will make one jot of difference. There are multiple stories going round and we are clearly in deep shit. Not sure what we can do about it though. Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 Brett Warburtons loan was secured on freehold land on the north side of Hall Lane Lostock and freehold land and buildings on the east side of lostock lane. Nucleus finance looks like its against all land and property and fixtures and fittings. Quote Link to comment Share on other sites More sharing options...
tyldesley_white Posted December 2, 2015 Share Posted December 2, 2015 WE can do fuck all Quote Link to comment Share on other sites More sharing options...
tyldesley_white Posted December 2, 2015 Share Posted December 2, 2015 "WE" can do fuck all Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 (edited) Also see it was a lad from Leigh who witnessed the signing of the finance deals, it wasn't Smiffs though. Edited December 2, 2015 by Mounts Kipper Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 According to the accounts we paid out £22,778613 in interest from 2010-2015, what it was before that I don't know. Quote Link to comment Share on other sites More sharing options...
BOWTUN BAKED Posted December 2, 2015 Share Posted December 2, 2015 Brett Warburtons loan was secured on freehold land on the north side of Hall Lane Lostock and freehold land and buildings on the east side of lostock lane. Nucleus finance looks like its against all land and property and fixtures and fittings. https://beta.companieshouse.gov.uk/company/03225433/charges Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted December 2, 2015 Moderators Share Posted December 2, 2015 According to the accounts we paid out £22,778613 in interest from 2010-2015, what it was before that I don't know. am pretty sure we've been here before those payments were never made theyre just another debt in amongst the 180 million eddie? the one on here, not ED Quote Link to comment Share on other sites More sharing options...
Mounts Kipper Posted December 2, 2015 Author Share Posted December 2, 2015 am pretty sure we've been here before those payments were never made theyre just another debt in amongst the 180 million eddie? the one on here, not ED They must have been paid somewhere otherwise they can't be in the accounts as interests payments. Maybe a qualified accountant out there on WWs can confirm or deny if that's possible. Quote Link to comment Share on other sites More sharing options...
Smiley Posted December 2, 2015 Share Posted December 2, 2015 So in Monopoly terms.... I had £25 and after landing on Community Chest I've just paid out £20 in bank fees. I've now rolled a 3 & a 1 and landed on Mayfair with its 2 hotels! My offer to give Mayfairs owner my only property - Old Kent Rd hasn't washed. Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted December 2, 2015 Moderators Share Posted December 2, 2015 So in Monopoly terms.... I had £25 and after landing on Community Chest I've just paid out £20 in bank fees. I've now rolled a 3 & a 1 and landed on Mayfair with its 2 hotels! My offer to give Mayfairs owner my only property - Old Kent Rd hasn't washed. seems an odd decision, being left with nowt when he could've had old kent road? Quote Link to comment Share on other sites More sharing options...
Rizlar Posted December 2, 2015 Share Posted December 2, 2015 Can only see administration for the club , still puzzles me that all this has come about with PG going into hospital something just doesn't add up . No doubt in time the truth will come out! Quote Link to comment Share on other sites More sharing options...
Blondi Posted December 2, 2015 Share Posted December 2, 2015 I'd be very surprised if we don't go down the administration route. Presumably, the assets will still be protected? Unlike if we went into liquidation. I'd imagine any potential buyers could then buy us at a decent price and not have to worry so much about our astronomical overheads. Pretty sure there would be a massive player cull and we start again in League 1 with a clean slate? Not that I know much about it like. Quote Link to comment Share on other sites More sharing options...
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