It's happening. 

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

Thank fuck

Supporters Trust / Bolton News

Barry Norman / Shania Twain

4 minutes ago, Howardroark said:

Avoided as in didn’t comment on?

I though Eddie Davies left debt in the club when he sold it to DH and KC and wrote off a large chunk of it later - £198 million, then a further amount to leave something like £5 or £10 million left?

There are charges from Moonshift still shown as outstanding on both Burnden Leisure and BWFAC Ltd but haven't the knowledge to know if that relates to a loan of money to that amount or to items such as land and Premier League payments (dating back to 2009 the charge was made) - or even if they are secured, which I presume they must be?  If they aren't secured, might this be where the unsecured £3 million you have mention relates too?

Barclays are shown to be a secured creditor although I don't know for how much and PBP also seem to have a secured loan against the 6 million minority share holders - I don't really understand the meaning of that but I'm guessing it gives him some say in the club - in such a way that KA (ICI) bought shares into SSBWFC (Holdsworth's company)?

I note also that PBP (James) has a charge against the leasehold of both the leasehold and land of the hotel and the catering conference and banqueting areas of the stadium - does that mean in default/liquidation that they become the owners of such?  Would that be in anyway relevant that he is part of Team Basran?  Could he also be free to be part of another consortium to buy the club at the same time - although I would think that wouldn't be permitted as he would have conflicts of interests.

Barclays presumably as banking/overdraft facility suppliers. 

PBP loan is not in default so couldn’t reclaim the land/facilities but if it did go to default then they could reclaim (that won’t happen before 27th). PBP also state in their accounts that they are confident that the asset value exceeds the loan value I.e they’d get their money back in liquidation/administration. 

The £3M additional was, to my knowledge (apologies Chris) provided unsecured and so wouldn’t be showing as a charge. I think one of the charges is the claim over premier league monies in the event of promotion and the other is the first charge on shares. 

One settled charge was for Euxton

Edited March 18, 20197 yr by Howardroark
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21 minutes ago, burnden said:

Supporters Trust / Bolton News

Doh.....many thanks 😊😊

26 minutes ago, Sluffy said:

I though Eddie Davies left debt in the club when he sold it to DH and KC and wrote off a large chunk of it later - £198 million, then a further amount to leave something like £5 or £10 million left?

There are charges from Moonshift still shown as outstanding on both Burnden Leisure and BWFAC Ltd but haven't the knowledge to know if that relates to a loan of money to that amount or to items such as land and Premier League payments (dating back to 2009 the charge was made) - or even if they are secured, which I presume they must be?  If they aren't secured, might this be where the unsecured £3 million you have mention relates too?

Barclays are shown to be a secured creditor although I don't know for how much and PBP also seem to have a secured loan against the 6 million minority share holders - I don't really understand the meaning of that but I'm guessing it gives him some say in the club - in such a way that KA (ICI) bought shares into SSBWFC (Holdsworth's company)?

I note also that PBP (James) has a charge against the leasehold of both the leasehold and land of the hotel and the catering conference and banqueting areas of the stadium - does that mean in default/liquidation that they become the owners of such?  Would that be in anyway relevant that he is part of Team Basran?  Could he also be free to be part of another consortium to buy the club at the same time - although I would think that wouldn't be permitted as he would have conflicts of interests.

Michael James would be free to join another consortium, but the likelihood is that any buyer would simply agree to honour the debt in full as liquidation/administration would see it fully repaid anyway.

The Basran deal with MJ/PBP would’ve probably extended the terms or as one suggested, seen it converted to equity (admittedly this may be difficult given the reasons Chris stated).

19 minutes ago, Sluffy said:

I though Eddie Davies left debt in the club when he sold it to DH and KC and wrote off a large chunk of it later - £198 million, then a further amount to leave something like £5 or £10 million left?

There are charges from Moonshift still shown as outstanding on both Burnden Leisure and BWFAC Ltd but haven't the knowledge to know if that relates to a loan of money to that amount or to items such as land and Premier League payments (dating back to 2009 the charge was made) - or even if they are secured, which I presume they must be?  If they aren't secured, might this be where the unsecured £3 million you have mention relates too?

Barclays are shown to be a secured creditor although I don't know for how much and PBP also seem to have a secured loan against the 6 million minority share holders - I don't really understand the meaning of that but I'm guessing it gives him some say in the club - in such a way that KA (ICI) bought shares into SSBWFC (Holdsworth's company)?

I note also that PBP (James) has a charge against the leasehold of both the leasehold and land of the hotel and the catering conference and banqueting areas of the stadium - does that mean in default/liquidation that they become the owners of such?  Would that be in anyway relevant that he is part of Team Basran?  Could he also be free to be part of another consortium to buy the club at the same time - although I would think that wouldn't be permitted as he would have conflicts of interests.

One point at atime but you are correct, Sluffy, about the 2009 charges. This was when Eddie paid off all the bank borrowing incurred in building the Reebok and the further monies spent on player acquisitions during the managerships of Sam Allardyce and Gary Megson.

Strangely enough the esteemed journalist  who has worked  full-time on the affairs of Bolton Wanderers for twelve years didn't notice it when it happened and didn't notice it for the next ten years. Last summer he was telling the bright sparks who read the BN, and rely on his  every word, that Gordon Hargreaves funded the building of the Reebok.

The 2009 debenture is one of five charges still outstanding on the Burnden Leisure file though you might need a commercial lawyer to decipher their order of priority .

Just a point on Alan Nixon’s tweet about costs incurred by Basran; 

Basran investment fund have on retainer a legal counsel as well as accountants and investment analysts internally, no great costs incurred.

Edited March 18, 20197 yr by Howardroark
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17 minutes ago, Howardroark said:

Just a point on Alan Nixon’s tweet about costs incurred by Basran; 

Basran investment fund have on retainer a legal counsel as well as accountants and investment analysts internally, no great costs incurred.

Howard, was there not a cost to see the books ( I think Ken add that) or was that just more bullshit from somewhere

Edited March 18, 20197 yr by tyldesley_white

While like most on here i haven't got a clue what's going on, the ST reckoned they were set up to assist in situation's such as this. So what is their involvement. Also Iles and the BEN have gone extremely quiet all on a sudden 

 

1 minute ago, waffer cup 07 said:

While like most on here i haven't got a clue what's going on, the ST reckoned they were set up to assist in situation's such as this. So what is their involvement. Also Iles and the BEN have gone extremely quiet all on a sudden 

 

Involvement I would non-what-so-ever , and as far as the BEN I think its all going over their collective heads, lets face it with out Howard (and others) I would be in the same boat

10 minutes ago, waffer cup 07 said:

While like most on here i haven't got a clue what's going on, the ST reckoned they were set up to assist in situation's such as this. So what is their involvement. Also Iles and the BEN have gone extremely quiet all on a sudden 

 

The ST are a last resort if all else fails, better they are in place but let us hope this can be sorted by a solvent and financially strong new ownership. 

22 minutes ago, tyldesley_white said:

Howard, was there not a cost to see the books ( I think Ken add that) or was that just more bullshit from somewhere

It would be unusual given that the sale is a necessity. Normally just an NDA and proof of funding (let's not go there). Ken possibly charging for the work done internally to support information requests from Basran Group.

21 minutes ago, waffer cup 07 said:

While like most on here i haven't got a clue what's going on, the ST reckoned they were set up to assist in situation's such as this. So what is their involvement. Also Iles and the BEN have gone extremely quiet all on a sudden 

 

I understood them to have written to unsecured creditors, in effect a lobbying group.

24 minutes ago, tyldesley_white said:

Howard, was there not a cost to see the books ( I think Ken add that) or was that just more bullshit from somewhere

Mentioned as 500k wasn’t it? Assuming that was then offset against any actual buy out fee.. 

like you say could be bullshit but that was the rumoured figure 

1 minute ago, barrycowdrill said:

Mentioned as 500k wasn’t it? Assuming that was then offset against any actual buy out fee.. 

like you say could be bullshit but that was the rumoured figure 

Thanks for that, glad I'm not going mad

Edited March 18, 20197 yr by tyldesley_white

1 minute ago, tyldesley_white said:

Thanks for that, glad I'm not going mad

Easily done murkier than Katie Price’s mott all this 

25 minutes ago, waffer cup 07 said:

While like most on here i haven't got a clue what's going on, the ST reckoned they were set up to assist in situation's such as this. So what is their involvement. Also Iles and the BEN have gone extremely quiet all on a sudden 

 

Iles has taken the week off.

1 minute ago, Traf said:

Iles has taken the week off.

He'll still be glossing over things 😊

Just now, Traf said:

Iles has taken the week off.

Surely they can get any dosser with the benefit of sight to trawl social media for gossip and submit as a report? Will still fulfill exactly the same role 

Just now, barrycowdrill said:

Surely they can get any dosser with the benefit of sight to trawl social media for gossip and submit as a report? Will still fulfill exactly the same role 

The other dosser is too busy getting pissed.

My previous post regarding incurred costs: 

A retainer- A monthly fee paid to a firm of solicitors/accountants covering all work within a month. Some months you get your money's worth,  some months you get more than your money's worth and other months you don't. 

Investment Analysts- Directly employed by Basran anyway.

Just now, Traf said:

The other dosser is too busy getting pissed.

Pissed up News at Ten *BONG* 

1 hour ago, Howardroark said:

To buy off the Blumarble loan and take control. 

Isnt all local media influenced by certain agendas? I didn’t say they should follow, just that they seemed to tow the ST line.

ST buying  off Blumarble and taking control? Seems a bit early in the day to be sloshed, Howard.

Last time  I looked the ST had all of £60K. Probably not got that now.

7 minutes ago, barrycowdrill said:

Mentioned as 500k wasn’t it? Assuming that was then offset against any actual buy out fee.. 

like you say could be bullshit but that was the rumoured figure 

Given that BWFC were punted around every hedge fund and private equity firm in the City with up to date accounts etc, it would surprise me, but you never know....