It's happening. 

https://www.theboltonnews.co.uk/sport/17405193.bolton-wanderers-close-to-takeover-from-uk-based-consortium/

Thank fuck

Now it’s off maybe John Galt could come back to full us in....

2 minutes ago, Howardroark said:

Doesn’t have enough up front money to appease all creditors sufficiently to avoid a series of WU’s.

Which is what you said all along

Why did it get far

Are debts coming to light that were previously unknown

Once again Iles has fucked off when it matters

1 minute ago, Casino said:

Which is what you said all along

Why did it get far

Are debts coming to light that were previously unknown

A little bit of extra debt- the financing against the season tickets and EFL money, but ultimately they had a budget for upfront costs and they couldn’t get under it/couldn’t attract further investment. 

Partly that’s due to Ken’s demands etc but also because creditors won’t do deals because they think there will be a saviour. 

Bringing MJ on reduced the upfront cost by £5.5M but not enough, Warburton apparently agreed to wait, that’s another £2.5M, but not enough, so the costs remaining were Ken/Moonshift and the unsecured creditors. 

As I’ve said, they had some money, but not enough, Ken/Moonshift + creditors won’t budge. 

Moonshift perhaps won’t budge if they doubt the on-going financing ability rather than just being stubborn.

It's a fukin circus, not sure what acts on next.

I assume that Basran is now waiting for the creditors to come to him the closer it gets to Weds without a breakthrough.

13 minutes ago, Ands1 said:

It's a fukin circus, not sure what acts on next.

The bearded fat lady is clearing her throat... 

Why on earth would we tear up the lower leagues if we were some reborn team? We’d have very little backing or support and it certainly wouldn’t be much reminiscent of BWFC. You’d essentially be plumping to support a new lower leagues team and the infrastructure that comes with it. 

Rangers fans refer to this as the ‘Gregg Wylde’ payback....

7 minutes ago, Boothy said:

Why on earth would we tear up the lower leagues if we were some reborn team? We’d have very little backing or support and it certainly wouldn’t be much reminiscent of BWFC. You’d essentially be plumping to support a new lower leagues team and the infrastructure that comes with it. 

If we cant attract people for Championship games we're definitely going to struggle for Oxford Grove at home.

Edited March 15, 20197 yr by Marc505

1 hour ago, Farnywhite said:

They would want the income . didn’t stop Glasgow rangers dop to the level they dropped can’t see England being any different for a mid level club 

It was a different system in Scotland at the time with the top four divisions completely separate from the non-league and Junior teams, so the Third Division was the lowest that Rangers could drop to (nowadays it would be the Lowland League so effectively only a further division lower). 

Decent precedents in England are the rebirths of Nuneaton, Telford and Scarborough who were allowed to re-form two divisions below the division that the original club were in. If we went bust in League One then I doubt the EFL would accept an application so the best hope would be an application to the National League - when Boston had to apply for Conference membership when they finished bottom of League Two, they were relegated two divisions in to Conference North. 

11 minutes ago, stevieb said:

The bearded fat lady is clearing her throat... 

casino not shaved again 😃

I think basrans playing games and wiil end up buying club by Wednesday.Hope im wrong though and a new bidder with money steps in.Looks like mods are censoring my posts.Dont blame them,serves me rite for posting under the influence.

Edited March 15, 20197 yr by Watsmore

For those asking questions of Alan Nixon on Twitter, these are facts

1) Ken Anderson is a secured creditor, not a football creditor, there are no football creditors. 

2) Administration will cost somebody £15-20M in up front cash and is therefore not a possibility for either Basran or Ken- this is due to the EFL rules and the level of secured creditors.

3) Davies family are not on-board with the Basran consortium, too busy with the other bidder. 

 

Edited March 15, 20197 yr by Howardroark
Spelling

4 minutes ago, Howardroark said:

For those asking questions of Alan Nixon on Twitter, 

1) Ken Anderson is a secured creditor, not a football creditor, there are no football creditors. 

2) Administration will cost somebody £15-20M in up front cash and is therefore not a possibility for either Basran or Ken- this is due to the EFL rules and the level of secured creditors.

3) Davies family are not on-board with the Basran consortium, too busy with the other bidder.

 

Who in your opinion is the OTHER bidder Howard?

So, in a nutshell, Davies' family can make or break any sale. Do they stand to lose or gain with a no-sale and HMRC winding up order?

Just now, DomRepWanderer said:

Who in your opinion is the OTHER bidder Howard?

Somebody with enough nous to bypass Ken Anderson & enough cash to let Davies’ know the club will be in good hands.

1 minute ago, MickyD said:

So, in a nutshell, Davies' family can make or break any sale. Do they stand to lose or gain with a no-sale and HMRC winding up order?

Not really, they can’t now call in the shares due to the WU. 

They could agree to reduce their loan amount or agree to staggered payments but the genuine feeling is that they wrote off £200M so why any more? 

Winding up equals liquidation which doesn’t affect them, they are owed by Ken who has the first charge (secured creditor).

Alan Nixon Being Incorrect 2

Davies’ do not have a charge against the club, it’s against KA (Inner Circle) who holds secured creditor status, he then owes Moonshift (Davies). 

Nixon says they have first charge- FALSE

Edited March 15, 20197 yr by Howardroark
Changed

Alan Nixon Being Incorrect 3 

Court cannot force administration due to EFL rules, liquidation only.

He states it’s an option- FALSE EFL has specific rules on administration which takes it off the table. Also there is precedent for HMRC refusing administration as a settlement.

Edited March 15, 20197 yr by Howardroark
G

1 minute ago, Howardroark said:

Alan Nixon 3 

Court cannot force administration due to EFL rules, liquidation only.

Just to be clear, are you agreeing with him this is the likely route? 

Has Nixon not just read your posts? Seems odd timing for him to twig and suss all this out

12 minutes ago, stevieb said:

Just to be clear, are you agreeing with him this is the likely route? 

I’m disagreeing with him that administration is an option for the courts and that if it goes to court, liquidation is the only option. 

The likely route is whichever costs less- administration or a deal with creditors. But either way it costs more upfront than Basran has.

Edited March 15, 20197 yr by Howardroark
Chance

I suggest people read The Offshore Game to understand where monies went from tv rights etc

9 minutes ago, Boothy said:

Has Nixon not just read your posts? Seems odd timing for him to twig and suss all this out

Sorry, my posts are me correcting him, not quotes.