It's happening. 

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

Thank fuck

19 minutes ago, Mounts Kipper said:

You’re closer than you think. Allegedly. 

They’ve been very quiet

 

Someone asked for a 5pm update, here goes.

* Players haven't been paid - this will be done Monday if takeover not sorted

* No takeover yet, that's Ken's fault even though no-one outside the boardroom has a fucking clue what's happened.

* We're playing Miwwawww tomorrow as has always been the case

* Marc Iles gets paid to tweet

* This is duller than Brexit now.

22 minutes ago, Tonge moor green jacket said:

I think so. Don't pay out too much for players etc.

I think they'd be back in the Championship within a couple of years, so it would depend on if their players are on high wages without relegation release clauses, which to be honest is info I am not privy to. 

2 minutes ago, dazl1212 said:

I think they'd be back in the Championship within a couple of years, so it would depend on if their players are on high wages without relegation release clauses, which to be honest is info I am not privy to. 

Anyone know the state of their accounts? If they’ve overstretched they’ll plummet in double quick time especially as I couldn’t see Dyche sticking around too long. 

9 minutes ago, Mounts Kipper said:

Anyone know the state of their accounts? If they’ve overstretched they’ll plummet in double quick time especially as I couldn’t see Dyche sticking around too long. 

They are paying the 3rd lowest wages in the PL, so if they have decent clauses in contracts they should be OK. I think if Dyche were to leave, and this is strictly my opinion, they'd be stuck in the Championship for a while. 

Edited March 8, 20197 yr by dazl1212
Shit grammar.

6 minutes ago, dazl1212 said:

They are paying the 3rd lowest wages in the PL so if they have decent clauses in contracts they should be OK. I think if Dyche we're to leave, and this is strictly my opinion, they'd be stuck in the Championship for a while. 

That may well be the case, but from what I remember, last time they went down, they weren't hamstrung by players on huge wages or overly long contracts.

I suppose the idea is that your contract lengths and wage requirements don't outweigh the effect of the parachute payment.

Basically, living within your means.

4 minutes ago, Tonge moor green jacket said:

That may well be the case, but from what I remember, last time they went down, they weren't hamstrung by players on huge wages or overly long contracts.

I suppose the idea is that your contract lengths and wage requirements don't outweigh the effect of the parachute payment.

Basically, living within your means.

Absolutely. Basically they did the opposite of what we did. 

Martin Petrov being a good example of what we did wrong.

Still not getting my head around Ken paying wages out of his own pocket except when he knows its coming back tout de suite. What if Holdsworth had still been in the mix? Would he have picked up half of them? Just as well he isn't.

32 minutes ago, Sluffy said:

I would guess if Basran did intend to pay £28 million, then he would also have additional funds as well to put into the club - funding of the future wages (which we don't seem to have if Anderson really needs to fund last months from his own pocket would seem to suggest) for the rest of the season alone would involve something like £3m.

So his budgeted investment would be upwards of £30 million at least.

I'm out of my depth to know the legal and financial timeframes and ramifications of going down the route you suggest but it always seemed to me that the end of Anderson's tenure would have to involve Moonshift and the other major creditors in some respect.

I do hope you stick around and keep us informed of what you can in the days and weeks ahead.

Thank you for your input already today.

 

He doesn’t have the funds for both acquisition and onward investment.

Alan Nixon‏ @reluctantnicko 2m2 minutes ago

 

BOLTON. Some suggestion that Basran team have an extension to exclusivity period but it runs out shortly. As DNAs signed can’t get that confirmed. But it may explain timings. And why rivals have to officially wait despite ‘talks’ ...

 

 Alan Nixon‏ @reluctantnicko 5m5 minutes ago

 

BOLTON. Target date for takeover now Sunday. Players won’t make official complaint to EFL over late wages which would have put a further spoke in sale deal. Anderson pledged to pay on Monday if they didn’t go to EFL. So much for Sunday being a day of rest ...

Alan Nixon‏ @reluctantnicko 6m6 minutes ago

More

BOLTON. Target date for takeover now Sunday. Players won’t make official complaint to EFL over late wages which would have put a further spoke in sale deal. Anderson pledged to pay on Monday if they didn’t go to EFL. So much for Sunday being a day of rest ...

3 minutes ago, Howardroark said:

He doesn’t have the funds for both acquisition and onward investment.

How do you know he’s not got the funds? 

2 hours ago, boltondiver said:

Generally, yes

But, assuming he can pay the players today, why wait until Monday?

To see if his 10 match acca put on with the stewards wages comes in or not

The sticking point is ultimately this: 

Moonshift won’t discharge their claim on the shares until paid in full by Inner Circle, and the amount is greater than the stated amount on the companies house document.

Inner Circle can’t pay until they receive the loan paid back from Burnden Leisure (new owners) and find another £3M.

New owners won’t pay until the charge on the shares is discharged. 

Something of an infinite loop.

KA possibly needs £8M plus for a pay day...... and the new owner needs to fund that.

 

I feel like I'm trying to follow a ball under a cup- I'm sure its number one, but every time he lifts it, it isn't there...

3 minutes ago, Howardroark said:

The sticking point is ultimately this: 

Moonshift won’t discharge their claim on the shares until paid in full by Inner Circle, and the amount is greater than the stated amount on the companies house document.

Inner Circle can’t pay until they receive the loan paid back from Burnden Leisure (new owners) and find another £3M.

New owners won’t pay until the charge on the shares is discharged. 

Something of an infinite loop.

KA possibly needs £8M plus for a pay day...... and the new owner needs to fund that.

 

Isn't this going back to earlier, with the new people buying the debt from moonshift?

2 minutes ago, Mounts Kipper said:

How do you know he’s not got the funds? 

Look at the value of the fund and it’s fundraising to date. 

There’s no way they will get approval from their investors to make a speculative investment of nearly 80% of the funds value, especially one that has no return for years and has an exit that is so hard to control. 

I expect the final total to be about £11M with deals done with Brett and PBP to extend terms. Maybe another £5-£7M of funding over the next 12 months to mitigate creditors and prevent winding up.

Dont expect transfer or wage budgets.

2 minutes ago, Tonge moor green jacket said:

Isn't this going back to earlier, with the new people buying the debt from moonshift?

Correct

Sale date now Sunday according to Nixon 

2 minutes ago, radcliffewhite1 said:

Sale date now Sunday according to Nixon 

Impossible if significant fund transfer required.

2 minutes ago, Howardroark said:

Impossible if significant fund transfer required.

You're a JCL, so tell the class how you know so much about the ins and outs of this deal.

JCL? 

2 minutes ago, Howardroark said:

Impossible if significant fund transfer required.

Unless the buyer's solicitors are currently in funds and they rely on solicitors' undertakings to send funds Monday am. Not ideal, but it happens.

1 minute ago, Jol_BWFC said:

Unless the buyer's solicitors are currently in funds and they rely on solicitors' undertakings to send funds Monday am. Not ideal, but it happens.

As per previous comment, Moon won’t discharge until payment received which will require 1 or maybe 2 CHAPS. CHAPS only available on a Monday therefore Sunday is not possible.

14 minutes ago, Howardroark said:

Correct

Can we at least expect a new manager/regime? Mark Warburton?