It's happening. 

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

Thank fuck

25 minutes ago, Matthew1234 said:

I haven't got round to watching the full Bassini video, only the first 30 minutes or so. Bassini went at length to discuss that he made a better offer to creditors, at 100p in the £. What he didn't mention was the date that this offer was made. I assume it was made after the date in which the administrators stated they needed best and final offers, but like I say, the date of his offer was not said. I still don't fully understand why anyone would offer 100p in the £, when its widely known that FV's offer gets nowhere near that level.

Effectively, he was stating that Macron claimed they had never been shown Bassini's offer. Again though, if this offer was after the cut off point, then I would imagine that is why. It does still amaze me that FV's preferred bidders status has not yet been revoked. It must have something to do with the £1m that FV injected. What interested me more was the mention of Keir Gordon, and Bassini's claim that he was also approached to pay this £1m, and that this would be key in securing the club. If we take that on face value, it would appear that whoever paid that, had a one way ticket to acquiring the club. I can understand why someone would not want to pay that outright, given the risk involved.

Could someone clarify what todays judge decision being released is in regards to? It's the first I have seen or heard about it.

 

In the eyes of the administrators there are two options a) Creditors sort it out and agree to FV proposal or b) liquidation.

There isn't anyone else able to complete a deal that they are aware of. 

Out of interest who does Bassini claim approached who about paying the £1M - non refundable deposit? Its not clear in your post. 

Edited August 21, 20196 yr by bwfcfan5

11 minutes ago, Matthew1234 said:

I haven't got round to watching the full Bassini video, only the first 30 minutes or so. Bassini went at length to discuss that he made a better offer to creditors, at 100p in the £. What he didn't mention was the date that this offer was made. I assume it was made after the date in which the administrators stated they needed best and final offers, but like I say, the date of his offer was not said. I still don't fully understand why anyone would offer 100p in the £, when its widely known that FV's offer gets nowhere near that level.

Effectively, he was stating that Macron claimed they had never been shown Bassini's offer. Again though, if this offer was after the cut off point, then I would imagine that is why. It does still amaze me that FV's preferred bidders status has not yet been revoked. It must have something to do with the £1m that FV injected. What interested me more was the mention of Keir Gordon, and Bassini's claim that he was also approached to pay this £1m, and that this would be key in securing the club. If we take that on face value, it would appear that whoever paid that, had a one way ticket to acquiring the club. I can understand why someone would not want to pay that outright, given the risk involved.

Could someone clarify what the court case today is settling? It's the first I have seen or heard about it.

 

Bassini's statement was rambling, punctuated by paper shuffling and interruptions from the gathering. But the gist of it was that Bassini (backed by Sullivan) was willing to take on the whole of the debt before the administrators were appointed and that he had a binding agreement with Ken Anderson to take over Burnden Leisure (and its subsidiaries).

i.e. administration and 12 point deduction were unnecessary  and he will be challenging them. Good luck with that!

At the time the  offer was made he didn't know about the hotel and was blown away when he saw it. Might make no money but the whole set up would look  impressive to someone who didn't know about it.

Today's court case? Sorry I can't help.

11 minutes ago, bwfcfan5 said:

Exactly - the rights and wrongs of it are thus - the admins ran a process and found the best deal. The secured creditors don't like it. But also don't seemingly have another way of saving the business - if they did they'd have offered it up by now. 

So you're in the mess of FV being the only option but the secured creditors not liking said option.

I'd say the more worrying aspect of the comment piece yesterday is that perhaps the issue is not so much about money and more about a long standing dispute between creditors and Mike James. I really hope this isn't a case of egos preventing the football club being saved!

I thought unsecured creditors had agreed a deal, and the secured creditors were guaranteed 100%. 

I think there may have been some truth to what Bassini was saying regards to his bid but its his own fault for being a dodgy bastard at Watford, plus as others have said he's a bit mental. 

3 minutes ago, Mounts Kipper said:

I thought unsecured creditors had agreed a deal, and the secured creditors were guaranteed 100%. 

Unsecured creditors in effect get very little say. Secured creditors unless paid off immediately and in full have to agree to the deal being offered to them.

Note that both main secured credtiors on club side dispute the values owed to them determined by the administrators forensic auditors. So in reality their consent is required for any deal to progress. 

 

The vote is misrepresented - its merely creditors approving the admins plans to try and sell the assets to maintain the business. That's it. They all agreed to that. But the settlement with FV with secured creditors is another matter. 

Edited August 21, 20196 yr by bwfcfan5

2 minutes ago, bwfcfan5 said:

Unsecured creditors in effect get very little say. Secured creditors unless paid off immediately and in full have to agree to the deal being offered to them.

Note that both main secured credtiors on club side dispute the values owed to them determined by the administrators forensic auditors. So in reality their consent is required for any deal to progress. 

They’d better get there heads together or it’ll be liquidation, wasn’t that what KA preferred option at one stage? Could that still be best outcome for him? If so it’ll never get agreed. 

Edited August 21, 20196 yr by Mounts Kipper

8 minutes ago, bwfcfan5 said:

In the eyes of the administrators there are two options a) Creditors sort it out and agree to FV proposal or b) liquidation.

There isn't anyone else able to complete a deal that they are aware of. 

Out of interest who does Bassini claim approached who about paying the £1M - non refundable deposit? Its not clear in your post. 

I don't to name drop the individual I have in my mind, in case it's the incorrect name. Bassini mentions it at some point after about 15-20mins in.  Sorry to be pedantic, I just wouldn't want to mention a name and it turn out not to be that individual.

Just now, Mounts Kipper said:

They’d better get there heads together or it’ll be liquidation, wasn’t that what KA preferred option at one stage? Could that still be best outcome for him? If so it’ll never get agreed. 

I'm unconvinced Ken is the biggest issue here. 

1 minute ago, Matthew1234 said:

I don't to name drop the individual I have in my mind, in case it's the incorrect name. Bassini mentions it at some point after about 15-20mins in.  Sorry to be pedantic, I just wouldn't want to mention a name and it turn out not to be that individual.

Can I clarify - Bassini claims someone approached him to pay the £1M deposit - is that right? 

Just now, bwfcfan5 said:

Can I clarify - Bassini claims someone approached him to pay the £1M deposit - is that right? 

Correct.

4 minutes ago, Matthew1234 said:

Correct.

Now you and I know who that person was. So perhaps now it is clear the reason why this is such a mess? 

I will bet the same person is the reason Bassini launched his injunction all of a sudden and out of the blue!

Edited August 21, 20196 yr by bwfcfan5

3 minutes ago, Matthew1234 said:

Correct.

He mentioned the name of a former football agent more  than once. I didn't keep count

I’ll judge it all after ten games.

 

15 minutes ago, bwfcfan5 said:

Now you and I know who that person was. So perhaps now it is clear the reason why this is such a mess? 

I will bet the same person is the reason Bassini launched his injunction all of a sudden and out of the blue!

Who is it?

And don't tell me I have to watch the full video to find out

4 minutes ago, ZicoKelly said:

Who is it?

And don't tell me I have to watch the full video to find out

In fairness I wasn't there haven't seen it and I'm guessing. But I'm fairly sure the name was in Matthew's original post. Be good if someone could substantiate. 

Edited August 21, 20196 yr by bwfcfan5

3 minutes ago, ZicoKelly said:

 

1 hour ago, Matthew1234 said:

What interested me more was the mention of Keir Gordon, and Bassini's claim that he was also approached to pay this £1m, and that this would be key in securing the club.

 

I think?

Edited August 21, 20196 yr by Cheese

31 minutes ago, bwfcfan5 said:

Now you and I know who that person was. So perhaps now it is clear the reason why this is such a mess? 

I will bet the same person is the reason Bassini launched his injunction all of a sudden and out of the blue!

 

10 minutes ago, bwfcfan5 said:

In fairness I wasn't there haven't seen it and I'm guessing. But I'm fairly sure the name was in Matthew's original post. Be good if someone could substantiate. 

 

Please, stop. Stop now. Thank you.

1 minute ago, Cheese said:

 

 

I think?

Yep. 

15 hours ago, leadfrog1 said:

fuck me hes just accused them of a bribe, lying and blackmail 

No way would he say those things in public if there was no truth in it.

He either has something here or he is a complete fruitcake....toss that coin.

Edited August 21, 20196 yr by ROVERS F.C.

8 minutes ago, ROVERS F.C. said:

No way would he say those things in public if there was no truth in it.

He either has something here or he is a complete fruitcake....toss that coin.

Don't bother with the coin.......he's currants & raisins short of a fruitcake.

36 minutes ago, ZicoKelly said:

Who is it?

And don't tell me I have to watch the full video to find out

He's a loose cannon and eccentric but watch the video if you are really interested. Sometimes you learn something you didn't know from folks who don't conform to the norm.

3 hours ago, Mounts Kipper said:

Big day today, release of judges decision, be interesting if that prompts FV into action. 

I didn't know this, has the date been brought forward?

If the club is £25m, what price is the hotel?

19 minutes ago, Ros Coe said:

I didn't know this, has the date been brought forward?

It was supposed to be published 1 week after court case, that was my understanding.