It's happening. 

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

Thank fuck

16 hours ago, Sluffy said:

Well for a start the Administrator confirmed there were FIVE bidders, not three as you suggest and that the identified preferred bidder's bid -

"...met every criteria laid down by the Joint Administrators".  

one of which was -

" - Ability to satisfy secured, football and unsecured creditors.

https://www.bwfc.co.uk/news/2019/june/statement-on-behalf-of-the-joint-administrators-for-bolton-wanderers/

So on the face of it - and considering the preferred bidders have already put £1m in to the club - I suggest your 'reading between the lines' to be somewhat misread.

The £1M you reference here is the amount Michael James already ‘lent’ the club in April. 

There is a significant difference between 5 groups ‘paying to see the books’ and 5 ‘formalised bids’. 

Satisfying the EFL requirements is fairly subjective in respect of how it is paid. 

Shaun Harvey has made no comment on anybody satisfying any conditions yet.

Are you Howard after passing through an instar? 

2 hours ago, Sluffy said:

I'd posted something up on Nuts some years back and although it isn't a complete list it was the best I could put together at the time -

George Warburton, who was married to Maureen, was Wanderers chairman for eight years in the 1970s and 1980s. His son Brett is the current vice-chairman.

As many people will know, Nat worked tirelessly in the early 1980s when our former Chairman, the late Terry Edge, introduced the Lifeline scheme. Nat appealed to the people of Bolton to help to save Bolton Wanderers Football Club at what was a very difficult time financially.

Barry Chaytow was the chairman in 1988 when we got out of the fourth division and quit in February 1989 when he was out voted over the proposed sacking of Phil Neal - Chaytow wanted Neal out, the board backed Neal instead

Phil Gartside succeeded Gordon Hargreaves who quit the post in October 1999 (three weeks after the resignation of Colin Todd)

Hargreaves had succeeded the late Sam Jones in January, 1991

 

Although the following were not Chairmen they were directors and I add them purely for interest -

BRIAN Turnbull, who served on the Bolton and Manchester City boards in the 1980s, has died in the Isle of Man after an illness.

A millionaire property developer, he took over the duties of managing director and chief executive at Bolton when Derrick Warburton stood down in March 1981.
He also became Bolton's vice-chairman and was the club's biggest single shareholder with 27 per cent but left the club within a year when directors vetoed his scheme to raise cash on a shares deal.

Also Des McBain was a Director at Bolton Wanderers. He joined the club as Secretary 32 years ago before later moving to occupy the position of Chief Executive.

https://forum.boltonnuts.co.uk/t7406-board-members#151959

Turnbull was LH lad his mum lived in council house on Windsor avenue over the road from our house, always knew when he was there as his Rolls Royce would be outside and surrounded by us kids. I heard he was a rogue as a kid, ended up as a director at city when we went shit. 

8 minutes ago, Damocles said:

The £1M you reference here is the amount Michael James already ‘lent’ the club in April. 

There is a significant difference between 5 groups ‘paying to see the books’ and 5 ‘formalised bids’. 

Satisfying the EFL requirements is fairly subjective in respect of how it is paid. 

Shaun Harvey has made no comment on anybody satisfying any conditions yet.

Unfortunately for us, this is an island of fair comment in a sea of speculation. Getting fed up waiting to hear something tangible from the administrators TBH.

36 minutes ago, Damocles said:

Do you truly believe that the wheels would grind to a halt because of the passing of a family member related to FV? That is unless said family member was providing funding that is now locked up in probate.

I dont believe the wheels have ground to a halt 

Things are taking longer than anticipated - but things are still moving 

33 minutes ago, Damocles said:

The £1M you reference here is the amount Michael James already ‘lent’ the club in April. 

There is a significant difference between 5 groups ‘paying to see the books’ and 5 ‘formalised bids’. 

Satisfying the EFL requirements is fairly subjective in respect of how it is paid. 

Shaun Harvey has made no comment on anybody satisfying any conditions yet.

Shaun Harvey wont be saying anything he has retired 

11 minutes ago, Benny The Ball said:

Shaun Harvey wont be saying anything he has retired 

Pedantry aside, you know what he means, the EFL have made no comment in respect of this.

Edited June 26, 20196 yr by Howardroark

Kinell, doom-bringers!

What would Nixon and Iles have been on about with “some things are not for the public.” If you’re insinuating the problem isn’t a personal issue but a financial one?

 

38 minutes ago, Damocles said:

The £1M you reference here is the amount Michael James already ‘lent’ the club in April. 

There is a significant difference between 5 groups ‘paying to see the books’ and 5 ‘formalised bids’. 

Satisfying the EFL requirements is fairly subjective in respect of how it is paid. 

Shaun Harvey has made no comment on anybody satisfying any conditions yet.

Well unless you are saying the Administrator is lying then I refer you back to what he said in his statement -

"The preferred bidder has also agreed to inject £1million into the club in order to fund the immediate running of the club and the rebuilding of the playing squad ahead of the new season".

'To inject' meaning future tense not past, 'immediate' meaning now not last month, and 'rebuilding of playing squad' that can only happen when the transfer window opens next month.

I agree there is a difference to see the books and 'formalised bids' and that's why the Administrator announced SIX 'paying to see the books' and they progressing to -

"The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding".

https://www.bwfc.co.uk/news/2019/june/statement-on-behalf-of-the-joint-administrators/

The EFL aren't that subjective about how creditors are paid, it certainly makes mention of agreed payment within two years or three, with the extra year resulting in a higher level of percentage required to be paid back to unsecured creditors.

As for the EFL, they rarely comment on anything much until the event is over.

 

I've enjoyed your work in the past Howard but this is poor from Damocles, or had you job swapped for the day and are you are now sat back on your thrown and Damocles returned to being one of your attendants again?

 

24 minutes ago, Howardroark said:

Pedantry aside, you know what he means, the EFL have made no comment in respect of this.

Its 2 months tomorrow since Ken failed to stage the Brentford match and the EFL still haven't got round to confirming if there will be a punishment

12 minutes ago, Howardroark said:

Pedantry aside, you know what he means, the EFL have made no comment in respect of this.

Oh whoopee.  You're back.

12 minutes ago, Duck Egg said:

Oh whoopee.  You're back.

Yay.

Put a sock in it Roy

Howard/Damocles,  are you saying that the £1m mentioned by the Administrators, a couple weeks ago, is the same £1m that was injected in April?

 

38 minutes ago, lowcarbon said:

Howard/Damocles,  are you saying that the £1m mentioned by the Administrators, a couple weeks ago, is the same £1m that was injected in April?

 

That's what he said, but the administrators said not.

5 hours ago, Sluffy said:

I'd posted something up on Nuts some years back and although it isn't a complete list it was the best I could put together at the time -

George Warburton, who was married to Maureen, was Wanderers chairman for eight years in the 1970s and 1980s. His son Brett is the current vice-chairman.

 

Aye he was chairman when my dad ran the supporters club. His Mrs at the time used to babysit young Brett.

 

 

6 minutes ago, gonzo said:

Aye he was chairman when my dad ran the supporters club. His Mrs at the time used to babysit young Brett.

 

 

Arthur?

1 hour ago, Breightmet Boy said:

Arthur?

My old man?

No he’s Mick Ramsden pal, ran the coach travel and even the club football team for a while. Big Ste LA white his star player ...ended up cleaning the windows too haha

When he moved to Chorley he took over the supporters club there too. Think it was there they had the bus crash on the way back from Chelsea away (I think) on a night match. Phillis and her lad Thomas on board, flipped on its roof etc. Few might remember it on here.

 

 

 

5 hours ago, Howardroark said:

Pedantry aside, you know what he means, the EFL have made no comment in respect of this.

Hello Howard - its really good to see that you are still here - your presence has been missed by  many  

The only point I am trying to make and I really am not the pedantic type - is this - Why would the  EFL make any comment at all  ? 

and why is the absence of any such comment a cause for concern ? 

When Simon Sadler and Henry Teh were recently announced as the new Blackpool owners and Investors ( with David Rubin and Co handling the process ) was there a statement from the EFL ? Seriously - did they make any sort of statement at all ?    If so I have missed it 

When David Rubin and co were appointed as administrators to BWFC they said ( 22 May )  "we are advising all those with a serious interest to provide information concurrently to the EFL in respect of their Owners' and Directors' Test in order to satisfy those demands" 

I would have thought it reasonable to assume when David Rubin and Co announce they have identified preferred new owners on 14 th June  - " Administrators announced on Thursday that they had identified a preferred new owner for the League One club." that at the very least the administrators had ensured that the preferred owners had satisfied EFL requirements ? 

I just think what we are witnessing is an  understandable clamour for the matter to be resolved immediately , when personal matters - such as a bereavement may have caused a short term delay and  whilst at the same time the separation out of the hotel from the main football club acquisition deal may also present opportunities for mischief making by those clinging to their  last vestiges of "power " 

 

 

 

Edited June 26, 20196 yr by Benny The Ball

The silence isn't good for any of us but I do think the £1m injection is a totally separate matter to the previous funding provided. This from the Bolton News just a few days ago seems to reiterate this " It is understood Football Ventures have planned ahead and injected £1million into the club for running costs but the bulk of the work can only be done once they have completely agreed a deal with existing creditors and put their name above the door."

We all want news, but I would hate for the rumour mill to go into overdrive and spread panic even more so. Until told otherwise, I think all we can do is surely believe what has been said, which is that there are circumstances that appear incorrect to report, one assumes on personal grounds. 

The delays are obviously worrying - FV dragged this out for ages back from Feb through April or so, but I just hope they are the real deal this time. I do wonder if this drags past Friday, what the administrators course of action would be. 

 

No matter how many times I hear the, “this is a multi-million-pound deal, be patient.” argument, I still can’t help but worry about the takeover. Obviously patience is important and we have to trust the process will be concluded but if it goes tits up we are done.

I drove past the stadium not 20 minutes ago and felt a sense of sadness at the meaninglessness of the stadium without the fans around and how grim it would be to see it disappear.

I am not a religious man but I will soon resort to prayer if there’s no word by Friday.

I'm hearing that acquiring the hotel is a part of the FV plan

That isn't proving easy

Not sure how that fits with Iles reporting of the delay

 

 

I think we should flatten the reebok, develop the site and buy Gigg Lane

On 13/06/2019 at 11:27, Okocha10 said:

You got this conclusion from?? 

Seems I assumed correctly

24 minutes ago, Casino said:

I'm hearing that acquiring the hotel is a part of the FV plan

That isn't proving easy

Not sure how that fits with Iles reporting of the delay

 

 

I think we should flatten the reebok, develop the site and buy Gigg Lane

You would😂

3 hours ago, Casino said:

 

I think we should flatten the reebok, develop the site and buy Gigg Lane

Can we fit a ground on Moor lane bus station