Last I heard, it was court tomorrow

 

ST and Lies reported 3, including Heathcotes mob

 

KA said that was old news, leaving 2

 

 

Now, I can see HMRC is definitely a club issue,but the other is Sport Shield

 

If we assume KA can deal with HMRC debt - I'd have been happier if he had sorted that one already, tbf- that 'just' leaves SS and blumarble

 

If the court agrees to wind up SS, do we know what that means and also the impact on BWFC

Edited May 21, 20179 yr by Casino

i wouldnt go that far

Me neither last I remember the hotel made a million one year wouldn't even pay for 2 decent players wages. Now if the club had the foresight to be shareholders or owners in the retail units on Middlebrook that would've been a tidy earner.

Edited August 22, 20178 yr by Mounts Kipper

I think there is no doubt KA playing hard ball with Holdsworth in the hope of getting the shares on the cheap and his plan was always to take DH and SS down and negotiate with the receiver, interesting KA wanted 500k from potential buyer to see the books I'd think that points to Ken wanting to sell his shareholding in a full takeover and not working in tandem with another investor.

Edited August 22, 20178 yr by Mounts Kipper

I think there is no doubt KA playing hard ball with Holdsworth in the hope of getting the shares on the cheap and his plan was always to take DH and SS down and negotiate with the receiver, interesting KA wanted 500k from potential buyer to see the books I'd think that points to Ken wanting to sell his shareholding in a full takeover and not working in tandem with another investor.

That's if you believe the spoon fed shite Marc Iles has been fed and decided to run wth once again without hearing from the club itself.

i wonder if the ST put the potential investors in touch with KA

Nobody but nobody is going to pay a non refundable 500k to see our books. It's akin to somebody coming to view your house and you asking for 5k up front non refundable.

 

Whoever these people were ken had absolutely no intention of letting them in to do any diligence and suspect as Mounts suggests he merely wants to deal with the liquidator.

 

I'm not sure of the legalities around whether ken would get any say as to who the shares are sold to but I suspect not.

i wonder if the ST put the potential investors in touch with KA

Or more likely in touch with Iles.

Nobody but nobody is going to pay a non refundable 500k to see our books. It's akin to somebody coming to view your house and you asking for 5k up front non refundable.

 

Whoever these people were ken had absolutely no intention of letting them in to do any diligence and suspect as Mounts suggests he merely wants to deal with the liquidator.

 

I'm not sure of the legalities around whether ken would get any say as to who the shares are sold to but I suspect not.

Administrator has to get best deal for whoever is owed money.

 

So assets go to highest bidder I assume. As they are for a minority holding assume there is no fit and proper rules that should apply to owning a club.

 

Depressing to think the value of the club is less than johnny Evans.

Administrator has to get best deal for whoever is owed money.

 

So assets go to highest bidder I assume. As they are for a minority holding assume there is no fit and proper rules that should apply to owning a club.

 

Depressing to think the value of the club is less than johnny Evans.

Surely this is why EFL were involved last week?

Administrator has to get best deal for whoever is owed money.

So assets go to highest bidder I assume. As they are for a minority holding assume there is no fit and proper rules that should apply to owning a club.

Depressing to think the value of the club is less than johnny Evans.

Aye but kens view will be it's a liquidator sale rather than going concern sale so will hope to get them at a lower price. Suspect he will outbid whoever comes in if anybody else actually does come in

Surely this is why EFL were involved last week?

I think discussions with EFL would been around if Sports Shield go tits up does that affect the club in terms of point deduction.

I think discussions with EFL would been around if Sports Shield go tits up does that affect the club in terms of point deduction.

It was - they'll publish their findings in September which could include points sanctions

They won't.

It was - they'll publish their findings in September which could include points sanctions

 

Gives them time to make up the rules as they go along

Aye but kens view will be it's a liquidator sale rather than going concern sale so will hope to get them at a lower price. Suspect he will outbid whoever comes in if anybody else actually does come in

If Ken gets full control it's very possible he splits the businesses, keeps the profit making parts such as hotel, car park, office space, any other land that's got a value and even the stadium which he could charge rent for and sell the football team for tuppence hapenny to any mug who wants it, his return on investment would be fantastic. With that in mind removing the ACV would be a worrying development. For me the pictures changed now he's binned DH off.

If Ken gets full control it's very possible he splits the businesses, keeps the profit making parts such as hotel, car park, office space, any other land that's got a value and even the stadium which he could charge rent for and sell the football team for tuppence hapenny to any mug who wants it, his return on investment would be fantastic. With that in mind removing the ACV would be a worrying development. For me the pictures changed now he's binned DH off.

Aye, God bless Sir Deano.

Aye, God bless Sir Deano.

I'm not blaming Deano yet its possible that he might be the injured party here I'll make my mind up who's been the cunt in this saga when its all played out it could be both, none or one of them we don't know enough yet. What I do know is both of them were after making a buck out of BWFC.

Edited August 22, 20178 yr by Mounts Kipper

What I do know is both of them were after making a buck out of BWFC.

Aye, I'm sure.

 

That's highly likely to be the case regardless of who we get, though.

 

Even the local-lad-made-good scenario almost saw us out of business.

No-one will pay decent money for 36.5% or whatever the exact number is. No-one will buy Burnden Leisure if there's a substantial minority shareholder and a charge on the assets.

 

Only solution is Anderson buys the 36.5% flogs Burnden Leisure and pays off the Blue Marble loan with part of the proceeds.

Shares are now to be sold at market rate. Which means they're worth whatever anyone is prepared to pay for them. Ken clearly feels he'll get them cheaper this way than an out of court deal with unco-operative Holdsworth and a loan shark. Risky business for us though as we don't know what implications it will have on the club. Also risky if someone else outbids Ken and we're back to square one with two owners who don't get on.

 

Ken's demands may well have been simple proof of funds for ongoing funding of the business. Perhaps the £500K was a refundable deposit to prove their ability to inject cash into the business? Which wouldn't be unreasonable. 

We've already been fucked over by a charlatan armed with a loan shark.

 

I'm glad Ken put such restrictions in place. If he actually did that is.

If Ken gets full control it's very possible he splits the businesses, keeps the profit making parts such as hotel, car park, office space, any other land that's got a value and even the stadium which he could charge rent for and sell the football team for tuppence hapenny to any mug who wants it, his return on investment would be fantastic. With that in mind removing the ACV would be a worrying development. For me the pictures changed now he's binned DH off.

We're already struggling to sell the club including all the 'profitable' parts.

 

What makes you think we could sell the football club alone after removing the only parts that are putting it anywhere near self sufficient?

 

As for your point about making a quid or 2 out of the club... I hope Ken ends up rich beyond his wildest dreams, because that goes hand in hand with him turning us into a successful club, probably in the Prem, which someone is willing to pay top dollar for.

 

If he wins, we also win.

We're already struggling to sell the club including all the 'profitable' parts.

 

What makes you think we could sell the football club alone after removing the only parts that are putting it anywhere near self sufficient?

 

As for your point about making a quid or 2 out of the club... I hope Ken ends up rich beyond his wildest dreams, because that goes hand in hand with him turning us into a successful club, probably in the Prem, which someone is willing to pay top dollar for.

 

If he wins, we also win.

He does not have to sell the football club though he could keep the profitable businesses and toss the club off as it loses money. Highly unlikely he would but he could.

He does not have to sell the football club though he could keep the profitable businesses and toss the club off as it loses money. Highly unlikely he would but he could.

See where you're coming from Mounts but I don't think he could. If he carved out all the good stuff then put the remaining business (I.e. the football club) into admin I'm pretty sure (not 100%) theres rules set up to go after his shares in the new company etc. Otherwise everyone would just pick up failing businesses and do the same.

 

The only way I can see him making money without us being successful is in the way Oyston has by syphoning off excess cash instead of reinvesting. The only way we'll be in a position to do that is if a couple of the youngsters that are playing for England youth come good, get sold for big bucks, suddenly we're cash positive and he takes it. Even with that though, theres no point because if he left the cash in and sold the club he'd get paid for the cash he left in anyway.

 

I might be missing something but IMO there are very very few ways that Ken can do well from this without us also benefiting (I hope I don't come to regret those words).

Which profitable businesses are those then? JAL

Me neither last I remember the hotel made a million one year wouldn't even pay for 2 decent players wages. Now if the club had the foresight to be shareholders or owners in the retail units on Middlebrook that would've been a tidy earner.

Not sure your last bit could happen. Orbit etc that developed the site would have the income from the units. For the club to have invested jointly, would have been expensive; not sure they could have afforded it, having to pay for a new stadium. Could be wrong though.