It's happening. 

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

Thank fuck

21 minutes ago, chrisw99 said:

Out of interest, what does this mean for the staff who haven't been paid for a couple of months.  Will they now get paid by the administrator ASAP?

As far as I understand it the Administrator is only responsible for the running costs of the club from the time he takes over - so staff wages up to today will be shown as outstanding creditors to the club (I'm unsure if they are classed as football creditors, or just unsecured creditors - I think the latter?) - in both cases they will remain unpaid I would imagine until the club exits Administration.

I see Benny has beaten me to answering this but I also suspect there will me mass redundancies issued (particularly that the club simply don't need many of the staff during the non playing summer months.

45 minutes ago, Mantra said:

Quickly skim-reading some of those articles has my head spinning, sounds like it was/is as complicated as our situation.

Hopefully we have a quick solution but that's not the best reading to introduce our admins.

If I'm reading it correctly, the administrator sold it back to the previous owner under a different guise.  Surely the difference now is that KA would not want to buy it back.

14 minutes ago, chrisw99 said:

If I'm reading it correctly, the administrator sold it back to the previous owner under a different guise.  Surely the difference now is that KA would not want to buy it back.

Aye won’t be a quid this time. Hopefully another adventure awaits ken now

24 minutes ago, Benny The Ball said:

Probably not 

They will all most likely have their contacts terminated with immediate effect 

Some key staff - Security , accounts , Groundsmen may be retained or more likely terminated and re - employed by the administrator 

Staff will get a letter telling them about administration process and will have to put in claims for unpaid wages including holiday pay and separately a claim for statutory redundancy - the amount they get  is capped and paid from Government funds

That said hopefully most if not all will be offered jobs by the buyer of the club 

Most of the relevant details are on Government website https://www.gov.uk/your-rights-if-your-employer-is-insolvent/your-rights

 

 

 

 

Crazy that the taxpayer is liable for a Monaco-based conman's indiscretions. 

28 minutes ago, Mantra said:

Appreciate the answer, but you've always got to throw a sly dig in there. You can't just answer MY questions in a polite way.

You must be an ex-teacher as someone who revels in knowing more about something than someone else and uses that to put people down to make up for the fact that you never amounted to anything significant yourself.

Not a dig at teachers but you remind me of the bitter ones.

I'm not thick, so if I'm not fully following the process then I'm sure many more aren't and that's what this forum is for, discussing, debating and asking questions about the takeover. Indeed, Mr Rizlar has already understood the process more clearly from your answer to my question. So it's not just me is it?

Despite your knowledge, it's a shame you feel the need to look down your nose so much, I hope you don't wear glasses as they must fall off a lot.

I await your response lambasting me for 5 paragraphs about how I've not read the thread in detail enough. I did think you were a reasonable chap, turns out you're as crabby as Ken and his family.

Thanks for answering my question though. x

If you continually ask questions - when mostly always the points you ask have already been answered previously - then don't be surprised when people clearly see you've failed to comprehend what's been going on.

Good to hear you're not thick though.

Well I am thick but fuck me can the personal, petty, bullshit squabbles go elsewhere please

This thread is bad enough with Howard and his disciples as it is

Sluffy, relax man

Just now, Mr Grey said:

We are gonna have to erect a boxing ring outside the club shop at this rate 

Ratchet man will be waiting for you 

1 hour ago, HomerJay said:

are we assuming admin will last until players contracts expire and running costs are at a minimum before we see any real light?

The Administrator has the powers to make players (manager and backroom staff - and any other employee of the club) redundant (or terminate their employment) before the end of their contracts if he deems it in the best interests of Administering the club.

They are not tied to issues such as notice periods and other niceties as per normal statutory redundancy practice.

They have somewhat draconian powers to stop the haemorrhaging of money of companies in Administration in order to turn them around and sell the business on.

33 minutes ago, tomski said:

Aye won’t be a quid this time. Hopefully another adventure awaits ken now

Hopefully involving porridge for breakfast.

Let's hope we don't get bought by Anne kenderson.

Thank god something has finally happened. 

Hotel is still showing as closed until 20th May.

Unless it's full of Chinese billionaires

 

2 hours ago, bwfcfan5 said:

I bet his mobile phone suddenly stops working. 

 

1 hour ago, Dr Faustus said:

or they have the wrong number...

Probably been sent to the ‘wrong address’. Again 🤥

26 minutes ago, barrycowdrill said:

 

Probably been sent to the ‘wrong address’. Again 🤥

Does anyone still believe that actually happened ?

It will be interesting to see if we escape further punishment from the EFL regarding the failure to fulfill our fixtures.

The EFL have already confirmed that we are on -12 for admin for next season. An earlier EFL statement confirmed that they would not force us to fulfill the Brentford fixture if an administrator was appointed as their efforts should be focussed elsewhere. By that logic if they impose a further points penalty on us they are surely damaging our prospects of securing a new owner and thus the administrator getting the best deal.

Wishful thinking I know, but they have already been seen to be ‘penalising’ us. Any further deductions will surely reflect negatively on them as well given their public backing of Anderson.

 

Edited May 13, 20197 yr by Super Bock

Really hoping the Chinese company swoop in now. At least Kenneth can't fuck any new buyers about anymore. Looks like another relegation battle at best next season.

1 minute ago, Super Bock said:

It will be interesting to see if we escape further punishment from the EFL regarding the failure to fulfill our fixtures.

The EFL have already confirmed that we are on -12 for admin for next season. An earlier EFL statement confirmed that they would not force us to fulfill the Brentford fixture if an administrator was appointed as their efforts should be focussed elsewhere. By that logic if they impose a further points penalty at us they are surely damaging our prospects of securing a new owner and thus the administrator getting the best deal.

Wishful thinking I know, but they have already been seen to be ‘penalising’ us. Any further deductions will surely reflect negatively on them elsewell given their public backing of Anderson.

 

I hope you are right but I can't see the EFL going for anything other than another large points deduction for failing to fulfil a fixture.  They can't have a situation where a precident is set for a club to go unpunished for this, they open themselves up for clubs choosing not to play fixtures in future and taking the 1-0 defeat, undermines the integrity of the competition. This is what fucks me off most about the players strike, two lousy games, would have kept them in the shop window and avoid a catastrophic points deduction for us next season. Cunts to a mon who refused to play. 

10 minutes ago, HR said:

I hope you are right but I can't see the EFL going for anything other than another large points deduction for failing to fulfil a fixture.  They can't have a situation where a precident is set for a club to go unpunished for this, they open themselves up for clubs choosing not to play fixtures in future and taking the 1-0 defeat, undermines the integrity of the competition. This is what fucks me off most about the players strike, two lousy games, would have kept them in the shop window and avoid a catastrophic points deduction for us next season. Cunts to a mon who refused to play. 

i agree with you. fans that suffer in the end 90%of players wont be here

 

Reminder that the last team to be charged with failing to fulfil a fixture were docked exactly 0 points.

4 minutes ago, Tombwfc said:

Reminder that the last team to be charged with failing to fulfil a fixture were docked exactly 0 points.

Who’s that? Or wasn’t there one?

On 06/05/2019 at 14:33, Howardroark said:

Moonshift will require a watertight agreement with a buyer to put in to administration. That buyer will have to have done DD and be ready to acquire within 24 hours of administration. Without a guaranteed buyer there will not be an administration.

That does only leave FV but unless they have new backing, they still can’t afford it.

Whilst I would expect several potential bidders to surface now we are in administration  

It will be  interesting to see how Howards predicted scenario ( above ) plays out tomorrow 

4 minutes ago, JJ10 said:

Who’s that? Or wasn’t there one?

Blackpool, after their game was abandoned due to fans' protests.

2 hours ago, radcliffewhite1 said:

Ratchet man will be waiting for you 

I’m a lover not a fighter 

Then again, we were also meant to get an embargo for wages being overdue for over 30 days, so they're clearly willing to be more lenient towards us because of the situation.

Just now, RedBloodzCell said:

Then again, we were also meant to get an embargo for wages being overdue for over 30 days, so they're clearly willing to be more lenient towards us because of the situation.

 

Hasn't that already been enforced?

I think the failure to fulfil fixtures will result in a 3 point deduction, applied to this season's table.

The -12 will definitely be due to be applied next season.