Winding Up Orders

[matty2094]

Note from the Chairman:

 

As many of you will be aware, the BluMarble winding-up application against Sports Shield BWFC came before the court today and culminated in them being wound up.

 

Once again, l would like to reiterate that the application was against Dean Holdsworth’s company Sports Shield BWFC and not the club, although l accept that there could be detrimental knock-on effects for the club, but l am doing my upmost to ensure this does not happen.

 

Over the last couple of months, l have had a number of approaches from both UK and international prospective buyers/investors to sell my shares in the club and in order to ensure that these offers are dealt with in a professional and business-like manner and with the club’s best interests in mind, l asked Paul Aldridge to manage the various discussions.

 

As l have said in the past, if someone with the wherefore and financial resources to take the club forward comes along, then l am always happy to meet with them.

 

So far, however, the various people who have said they are in a position to do so have been unable to provide financial proof of funds and to be honest, have wasted a great deal of our time.

 

Furthermore, the vultures and pariahs need not apply as this club has achieved a great deal over the last 18 months and is not in the financial position it was when l first became involved.

 

It is a much more attractive proposition on the field as well having achieved promotion from League One at its first attempt, which in itself is a major achievement and even more so when you consider the transfer embargo.

 

As l have said in the past, the efforts and achievements by the management, staff and supporters in achieving this should never be forgotten.

 

That said, l fully appreciate that Bolton Wanderers is and always will be a big club and that will automatically mean that there will be a great deal of interest in this fantastic club.

 

This was only reiterated by Harry Redknapp’s recent comments regarding our manager and also our stature as a football club in England.

 

For someone of his experience in the game to give us such high praise is something we should be very proud of. The club has moved a long way forward from those dark days of 2015/16 when it was relegated and in dire financial straits.

 

That is not to say that we are out of the woods, but we can say that we do see light at the end of the tunnel and with the continued support of our staff, sponsors and supporters, anything is possible. You only have to look at Huddersfield Town to see proof of that.

 

The financial position of the club today is at its best since l became involved and the sustainable business plan will be completed by the end of this season, albeit that it is a long way from what l inherited and whilst some of my actions have not always been pleasant, they have been necessary to ensure the club has a sustainable future.

 

We are in a very good place on the field as has been evidenced with the manager and Steve Parkin signing their new contracts and strengthening the squad throughout the summer months with numerous talented players.

 

I would also like to acknowledge the support that our Supporters’ Trust are giving to the Academy Fund and we endeavour to work closely with them from hereon in for the benefit of this great football club.

 

I have every confidence in the people who run the club, hotel and associated businesses on a daily basis, however, and I can honestly say that they are all doing an excellent job in getting the club back where it belongs and on a sustainable footing for the future.

 

I will do my best to keep everyone abreast of the consequences of the SSBWFC winding up over the next few days, but as always l am optimistic on the outcome.

 

Together, we will succeed.

 

Ken

[Mounts Kipper]

Great comments from Ken nice to to hear him praise the Trust hopefully puts to bed that the Trust are actively plotting against Ken and the club.

[waffer cup 07]

So will the trust return some praise for the great job Kens doing.

[RUREADY2ROLL]

Really like Kens statement and it would appear that we are all pulling in the right direction.

 

Sure we will get through the financial issues which are holding us back and as long as we stay up this season we will have a bright future

 

COYWM

[Traf]

Together, we will succeed. 

Ken

[gonzo]

He'd sell tomorrow given the chance.

 

If a new buyer came in tomorrow how much do they need to pay eddie?

 

+£7m BM

[birch-chorley]

I'm not sure if that implies that a war chest is or isn't coming?

[Sluffy]

Great comments from Ken nice to to hear him praise the Trust hopefully puts to bed that the Trust are actively plotting against Ken and the club.

 

To be pedantic, what he actually says is that he 'acknowledges' the support of the ST in regards to one aspect - the Academy Fund and that he will TRY ('endeavour') to work closely with them from NOW on ('hereon in').

 

Hardly glowing praise of them.

 

Although I'm sure he wants them onside whilst he has bigger battles to face though.

 

 

And thanks for your well wishes about my health you expressed on another thread yesterday, I appreciate them although I am far from dead and buried yet.

[DirtySanchez]

I'm not sure if that implies that a war chest is or isn't coming?

Well Shania Twain had a new song out a couple of months back

 

A coincidence? I think not

[little whitt]

He'd sell tomorrow given the chance.

 

If a new buyer came in tomorrow how much do they need to pay eddie?

 

+£7m BM

£15 million

[passmosster]

I haven't read the definitions section of the EFL rules (Is there one?) but I don't think a minority shareholding of 36.5% wouldn't be classified as a member of a group (or group undertaking) for accounting or tax purposes. But it's a long time since I was involved in this sort of stuff.

 

I just hope that Dean Holdsworth isn't on the hook for a PG (personal guarantee). In the circumstances, you would expect someone like Blue Marble to have asked for one.

 

There must be some grounds for doubting the security given over BWFC (Burnden Leisure) assets by Sports Shield. Looks to me a messy business but it could have been ultra vires. i.e. outside the power of the company to give without a special resolution.

[Mounts Kipper]

So will the trust return some praise for the great job Kens doing.

You must of missed the last ST statement doing just that.

[Tonge moor green jacket]

He'd sell tomorrow given the chance.

If a new buyer came in tomorrow how much do they need to pay eddie?

+£7m BM

Aye. But he'll want his slice too, quite rightly. As he says only vultures circling and I can't see a serious offer until this blue marble shit is sorted.

Unless someone with silly money comes in- and as Barnsley are reportedly being looked at- anything is possible.

[Traf]

Well Shania Twain had a new song out a couple of months back

 

A coincidence? I think not

 

And Stelios was at the ground last week

[gonzo]

Aye. But he'll want his slice too, quite rightly. As he says only vultures circling and I can't see a serious offer until this blue marble shit is sorted.

Unless someone with silly money comes in- and as Barnsley are reportedly being looked at- anything is possible.

£22 million before we are even in to what the clubs worth plus assets.

 

That's a lot of money.

[Farrelli]

£22 million before we are even in to what the clubs worth plus assets.

 

That's a lot of money.

Don't forget Deanos quid, I wouldn't want to see him out of pocket.

[Tonge moor green jacket]

In today's prices, can we not sell Pratley for £10m+. Gaz is on fire so must be worth at least £15m.

[Carlos]

Can Deano not got to one of them mis-sold a loan type lawyers they advertise on Judge Rinder?

[Tonge moor green jacket]

Get the impression that's ka's angle.

[John Thomas]

He says the sustainable business plan will be in place by the end of the season, does this mean the embargo will still in be in the place until then, as this was  one of the EFL requirements to have it lifted .

[Ani]

Would rather have KA involved on our side in this.

 

He seems the type to have as many angles as possible covered even the dodgiest ones.

[waffer cup 07]

Can Holdswoth now be bombed out of our club.

[CMW]

Can Holdswoth now be bombed out of our club.

[CMW]

Can Holdswoth now be bombed out of our club.

Already removed from board of directors on website

[Eddie]

He says the sustainable business plan will be in place by the end of the season, does this mean the embargo will still in be in the place until then, as this was one of the EFL requirements to have it lifted .

I read that as meaning the plan is in place, and in progress, but it will take time before we can claim to be sustainable which he sees as being the end of the season (i.e more costs cut, more high earners out of the door and hopefully more revenue coming in).