Take Over

[Kane57]

Does it not mean that putting less money up front means they can spend elsewhere ie- fucking Parky off and/or transfers

[birch-chorley]

6 minutes ago, Howardroark said:

As I’ve said, some funding must be available, of course, it’s just how much. 

Converting the loan to equity just means he can take an equity position for nothing whilst converting the amount owed to a directors loan. This has sizeable advantages in that he can request a drawing against the loan every month (higher than the repayments he was receiving), enjoy tax breaks on it and finally, releasing the lien on the car park allows for redevelopment which almost certainly will be awarded to PBP.

Makes sense 

But the key is, some money must be available or we wouldn’t make it through to month end and the buyers would have wasted a fortune in fees 

Versus the current scenario it’s an improvement, i.e we don’t go bust 

 

Edited March 12, 2019 by birch-chorley

[Sluffy]

5 minutes ago, Kane57 said:

You know what happens when you assume, right

Well if I owned a company and had at least three separate creditors all owed well over a million pounds each from me, it would not surprise me in the least if one or more of the 'consortiums' who wanted to buy my company from me had some connection with/to them.  If not for any other reason than to find out more about me and how best to deal with me.

It's not really that radical to think that one or more of them might even want to be involved in buying me out.

Maybe he didn't know for certain but I'd be very surprised if he hadn't thought it was a possibility.

 

[Howardroark]

10 minutes ago, Mounts Kipper said:

Are you saying Brett will become a director? 

I am

[Howardroark]

17 minutes ago, Kane57 said:

Does it not mean that putting less money up front means they can spend elsewhere ie- fucking Parky off and/or transfers

Possibly, that option remains on the table until the window opens I guess. 

Ultimately though it looks like they’ve paid the minimum amount to gain control without really changing the overall debt position- admittedly some debts will be paid off in the coming weeks but I think they’ll just roll the current debts (unsecured) in to new pricing on service contracts (catering etc) and will just put up the sell price accordingly. 

For example, say they owe the program printers £20k. They say “you charge us x percent more next year to cover the deficit”. This is a win win situation for everybody except the poor bugger buying the program that is now £1 more.

 

Edited March 12, 2019 by Howardroark
New info

[Escobarp]

Some cheery fuckers about eh

moan about ken and nowhe’s on the verge of fucking off and here we are assuming the new owners haven’t got a pot to Piss In already 

last one out turn off the lights eh 

unreal 

will you disappear post takeover Howard only to return in style if proven right? Or sticking around to cheer us up with your prophecies? 

Edited March 12, 2019 by Escobarp

[Howardroark]

1 minute ago, Escobarp said:

Some cheery fuckers about eh

moan about ken and nowhe’s on the verge of fucking off and here we are assuming the new owners haven’t got a pot to Piss In already 

last one out turn off the lights eh 

unreal 

There’s no requirement for you to continue reading.

[Casino]

2 minutes ago, Escobarp said:

Some cheery fuckers about eh

moan about ken and nowhe’s on the verge of fucking off and here we are assuming the new owners haven’t got a pot to Piss In already 

last one out turn off the lights eh 

unreal 

The fact Michael James has joined the board tells us everything

Why would he choose that over getting his cash back

 

And James was involved in the negotiations from early last week, at least, so there's no way Ken didn't know

 

[Escobarp]

Or you making wild assumptions but that’s life 

I will make a wild assumption you will disappear and keep a watching brief. Thanks 

[Escobarp]

Just now, Casino said:

The fact Michael James has joined the board tells us everything

Why would he choose that over getting his cash back

 

And James was involved in the negotiations from early last week, at least, so there's no way Ken didn't know

 

I agree. If James didn’t see additional money in this he just would have waited and played hard ball and taken his money surely. As our cheery pal points out the mechanism in which he will eventually get his money will likely suit him tax wise but he’s moving from a secured position currently so must be comfortable that this has legs and he will get repaid in due course 

[Howardroark]

5 minutes ago, Escobarp said:

Or you making wild assumptions but that’s life 

I will make a wild assumption you will disappear and keep a watching brief. Thanks 

I joined for one purpose, once that purpose reaches a termination point I will indeed be leaving.

[Guest]

There were rumours that James was involved in this bid weeks ago. Why can it not be that a lifelong fan of the club wants to be part of this consortium? He’s helped the club out a few times and perhaps he now just wants in?

[Howardroark]

6 minutes ago, Casino said:

The fact Michael James has joined the board tells us everything

Why would he choose that over getting his cash back

 

And James was involved in the negotiations from early last week, at least, so there's no way Ken didn't know

 

The fact he’s involved tells us that they needed to do a deal on the debts before they could acquire. 

He will have a re-convert option so his risk is massively mitigated but the upside is significant for him if the club progresses, it’s a risk I’d take.

[Guest]

1 minute ago, Howardroark said:

I joined for one purpose, once that purpose reaches a termination point I will indeed be leaving.

You'll be missed. Don't take this the wrong way; I hope you aren't back in 3 years!

[Howardroark]

Just now, bwfcfan5 said:

There were rumours that James was involved in this bid weeks ago. Why can it not be that a lifelong fan of the club wants to be part of this consortium? He’s helped the club out a few times and perhaps he now just wants in?

That ultimately has to be the hope

[Howardroark]

Just now, boltondiver said:

You'll be missed. Don't take this the wrong way; I hope you aren't back in 3 years!

Me either!

[Escobarp]

10 minutes ago, Howardroark said:

I joined for one purpose, once that purpose reaches a termination point I will indeed be leaving.

May I ask why you joined just for this and chose this site? Just curious as to why you felt the Desire at this particular point 

fwiw I liked the majority of your posts early on very informative and reasoned I just got a whiff of an anti Basran agenda which just made me wonder what was/in it did yourself. 

Do you have an agenda Howard or simply an interested supporter? 

[Kane57]

I read it like a BWFC Mary Poppins. Comes in at an hour of need, helps the children and then is away on the next wind. Speaking of which, it's quite blustery out....

[Take Hunt Off]

Bottom line is James & Warburton are Wanderers so welcome ! ...& goodbye Sweaty Ken Actually King Ken... given the shitty ways of the world he did 

What he did 

 

 

 

 

 

 

 

 

[Wanderlust]

Anderson running the club at a loss and having neither the wherewithal or business acumen to progress the club clearly showed that it was inevitable that sooner or later we'd come to the point where he had to sell and that has been patently obvious for at least the last 18 months, which is why, more than anything, I am annoyed that he left it until now where buyer options had become so limited and the remaining assets of the club unknown as are not as yet in the public domain although it would be no surprise if they have been substantially reduced during his time. It remains to be seen what the new owners can bring, or what they are able to do, but I firmly believe that Anderson had no plan, no choice and no f****** clue and that has left us wide open to trouble ahead.

I'm sure that if the new owners have nothing more than a plan of further or increased austerity, many people will imply it was better under Anderson, but IMO any such austerity would be no more than Anderson's legacy and a true reflection of the incompetence he did so much to cover up with self-congratulatory rhetoric and NDAs for anyone who he had dealings with. Very glad he's gone if only to put an end to his bull and incompetence.

[Traf]

Oh, there's going to be some proper uproar when the financial details of how the last six months or so have played out become public knowledge.

 

[Ratwhite]

4 hours ago, Howardroark said:

There’s no requirement for you to continue reading.

That's the thing though Howard. There is a requirement for the likes of Escobar and I to continue reading. Bolton is and has been a massive part of our lives. It's what a lot of the Lads and Ladies on here look forward to during the shitty winter months (like last night) and Summer transfer windows. 

We've had it bad before, then seen it get better. The hope that it can change again keeps you going..

The fact that people like yourself appear and unfortunately remove that "hope" with your "factually" based and eloquently constructive comments is tantamount to kicking most on here in the balls. I'm actually hoping that you prove to be so wide of the mark that people laugh about your posts in six months time. Nothing personal as I'm sure your a nice bloke/woman, but if you are proven to be right, it's like the club has just failed at the parole board meeting and been told there is no chance of review until the next sale of the club, AND priveliges will continue to be withdrawn....

Its the "hope" that keeps you going, It also appears that it could also be the "hope" that could kill us, from the last twenty pages of this thread....

[Howardroark]

3 hours ago, Ratwhite said:

That's the thing though Howard. There is a requirement for the likes of Escobar and I to continue reading. Bolton is and has been a massive part of our lives. It's what a lot of the Lads and Ladies on here look forward to during the shitty winter months (like last night) and Summer transfer windows. 

We've had it bad before, then seen it get better. The hope that it can change again keeps you going..

The fact that people like yourself appear and unfortunately remove that "hope" with your "factually" based and eloquently constructive comments is tantamount to kicking most on here in the balls. I'm actually hoping that you prove to be so wide of the mark that people laugh about your posts in six months time. Nothing personal as I'm sure your a nice bloke/woman, but if you are proven to be right, it's like the club has just failed at the parole board meeting and been told there is no chance of review until the next sale of the club, AND priveliges will continue to be withdrawn....

Its the "hope" that keeps you going, It also appears that it could also be the "hope" that could kill us, from the last twenty pages of this thread....

My statement was limited to this thread only.

[jules_darby]

9 hours ago, Howardroark said:

I joined for one purpose, once that purpose reaches a termination point I will indeed be leaving.

So what purpose is that?

And why is it your purpose?

Edited March 13, 2019 by jules_darby

[Howardroark]

8 hours ago, Escobarp said:

May I ask why you joined just for this and chose this site? Just curious as to why you felt the Desire at this particular point 

fwiw I liked the majority of your posts early on very informative and reasoned I just got a whiff of an anti Basran agenda which just made me wonder what was/in it did yourself. 

Do you have an agenda Howard or simply an interested supporter? 

As I have proven both on the forum and privately to Casino, I’m just a supporter. 

There’s nothing in it for me, Basran was the only direct bidder (the other was trying to buy out the Moonshift debt) so I had no ‘skin in the game’ so to speak. 

Im not Anti-Basran, I’m just concerned about his funding and motives