It's happening. 

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

Thank fuck

1 minute ago, Howardroark said:

Administration itself is the running costs of the business whilst a buyer is found. Note this reduces significantly for BWFC upon the expiry (or termination) of player contracts. 

The cost of purchase from administration is different for football clubs than a normal business. 

The rules are that all football creditors must be paid in full and all unsecured creditors receive a minimum percentage return, I think it’s 30%. 

Because of the charges in place, the secured debt would need to be paid in full too. 

This puts you at about £23M.

About 12 months salary for Sanchez. Fuck all in grand scheme. 

12 minutes ago, Mounts Kipper said:

I think ken’s plan is liquidation, can’t see any other route that suits him. 

Administration all but guarantees him the funds to pay back Moonshift, liquidation does not and he would continue to be liable for the remaining amount. 

The determining factor is how much admin costs him to fund versus the amount he may still owe Moonshift after liquidation. 

Admin is MUCH cheaper if all the players have terminated their contracts due to lack of pay, same with club staff....

4 minutes ago, Howardroark said:

Administration itself is the running costs of the business whilst a buyer is found. Note this reduces significantly for BWFC upon the expiry (or termination) of player contracts. 

The cost of purchase from administration is different for football clubs than a normal business. 

The rules are that all football creditors must be paid in full and all unsecured creditors receive a minimum percentage return, I think it’s 30%. 

Because of the charges in place, the secured debt would need to be paid in full too. 

This puts you at about £23M.

PMSL!!! You're a Wigan fan making stuff up.

10 minutes ago, Howardroark said:

Administration itself is the running costs of the business whilst a buyer is found. Note this reduces significantly for BWFC upon the expiry (or termination) of player contracts. 

The cost of purchase from administration is different for football clubs than a normal business. 

The rules are that all football creditors must be paid in full and all unsecured creditors receive a minimum percentage return, I think it’s 30%. 

Because of the charges in place, the secured debt would need to be paid in full too. 

This puts you at about £23M.

Last few days Nixon and others suggesting Davies Trust agree to pre pack admin with FV. Quick in and quick out.

Would you discredit this theory? I know you’ve said previously pre pack admin isn’t allowed for clubs?

Sounds like the way forward is for FV to buy us out of admin then agree with the EFl to take a fine for failing to do the Brentford game rather than a further points deduction?

 

 

Just now, irvtheswerv said:

PMSL!!! You're a Wigan fan making stuff up.

Do elaborate, rain man

1 minute ago, Mantra said:

Last few days Nixon and others suggesting Davies Trust agree to pre pack admin with FV. Quick in and quick out.

Would you discredit this theory? I know you’ve said previously pre pack admin isn’t allowed for clubs?

Sounds like the way forward is for FV to buy us out of admin then agree with the EFl to take a fine for failing to do the Brentford game rather than a further points deduction?

 

 

You can’t pre-pack a football club, ST have to be given 28 days to try and buy.

Edited May 3, 20197 yr by Howardroark

17 minutes ago, Blondi said:

Perfect timing for Howard the "Wum" to make a miraculous return tonight, some gullible posters on here.

Really is embarrassing.

2 minutes ago, Howardroark said:

Administration all but guarantees him the funds to pay back Moonshift, liquidation does not and he would continue to be liable for the remaining amount. 

The determining factor is how much admin costs him to fund versus the amount he may still owe Moonshift after liquidation. 

Admin is MUCH cheaper if all the players have terminated their contracts due to lack of pay, same with club staff....

But I’d doubt all if many at all terminate there contracts. I’m no expert but I don’t think he’s likely to fund admin, he’d of already gone that route I think,  and that’s why I think it’ll be liquidated.

1 minute ago, Howardroark said:

You can’t pre-pack a football club, ST have to be given 28 days to try and buy.

Nixon suggested they could waive that right if they thought the buyer would be the best option?

Just now, Mounts Kipper said:

But I’d doubt all if many at all terminate there contracts. I’m no expert but I don’t think he’s likely to fund admin, he’d of already gone that route I think,  and that’s why I think it’ll be liquidated.

Depends if not playing is classed as deriliction of duty and therefore grounds for dismissal.

Just now, Mantra said:

Nixon suggested they could waive that right if they thought the buyer would be the best option?

That option is possible, but essentially the no pre-pack rule is tantamount to creating an auction, or at least trying to. You have to get the best deal for the creditors and so time must be given for other bidders.

Howard... I've chucked a few unanswered tongue in cheek questions out tonight but answer this one please, no answer speaks volumes... 

As a cinzano drinking PR guru what is your role in this 'takeover' now? Discredit bassini? Play up your investors? Get points on Wiganways? 

 

Howard, I’m intrigued by the John Galt reveal...

Why reveal now ? 

How long have you known ?

Didn’t you previously think it was Parminder ?

(One for admin, has he logged on since he allegedly left the hotel on Sunday ?)

Just now, stevieb said:

Howard... I've chucked a few unanswered tongue in cheek questions out tonight but answer this one please, no answer speaks volumes... 

As a cinzano drinking PR guru what is your role in this 'takeover' now? Discredit bassini? Play up your investors? Get points on Wiganways? 

 

No role

1 minute ago, Domcarey1 said:

Howard, I’m intrigued by the John Galt reveal...

Why reveal now ? 

How long have you known ?

Didn’t you previously think it was Parminder ?

(One for admin, has he logged on since he allegedly left the hotel on Sunday ?)

I did originally believe it to be Parminder, however we laid a trap for him (PA) on the day I took leave of absence that he walked in to. 

1 minute ago, Howardroark said:

No role

Why post then? 

What's in it for you? If nowt just tell us straight up 'what odds on liquidation?' 

Just now, stevieb said:

Why post then? 

What's in it for you? If nowt just tell us straight up 'what odds on liquidation?' 

Nothing in it for me. 

Zero chance of liquidation 

35 minutes ago, RoadRunnerFan said:

Do they serve Cinzano in pint glasses?

That would be Howard's Big Sam pint of wine moment.

😂😂 .... because .. he/she is worth it .. 🍺🍸

Just now, Howardroark said:

Do elaborate, rain man

Welcome back, Howard. I'm going to wait until tomorrow before reading what you have  had to say. Twenty years of reading the gibberish of GOBSHITE'S makes it worth waiting for. If I question anything please don't take it personally..

1 minute ago, Howardroark said:

Nothing in it for me. 

Zero chance of liquidation 

Did your men fund bassini for his £5.5m?

What's the path from here... 

3 minutes ago, Howardroark said:

Nothing in it for me. 

Zero chance of liquidation 

This assumes rational self interest 

2 minutes ago, Howardroark said:

Nothing in it for me. 

Zero chance of liquidation 

That is nice to hear at least. Would you bet on this being dragged out over the summer though? Or would you expect to see some major moves soon? 

4 minutes ago, Howardroark said:

Nothing in it for me. 

Zero chance of liquidation 

There is every chance we will be back in court on Wednesday hoping on the judge giving sympathy on us to survive again! This is after lying in the last two times we have been to court! So surely there is a good chance they will have enough and rule in favour of HMRC! If bassini really wanted to save the club he would of done it by now! Admin is the only option to save us now! But very much fearing liquidation .. because they left it too late to appoint an administrator .. moonshift and Anderson before wednedsay

Edited May 3, 20197 yr by Jcookie

2 minutes ago, Howardroark said:

Nothing in it for me. 

Zero chance of liquidation 

If admin is the route, who will fund it ?

What do you know of the most likely group to obtain control through admin process ?

4 minutes ago, stevieb said:

Did your men fund bassini for his £5.5m?

What's the path from here... 

No, we provided him with Due Dilligence. 

Dragged on until player contacts expire on 30/6, administration, new buyer, probably somebody leveraged up, speculating on asset and land value.