It's happening. 

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

Thank fuck

Mentalist thread now

Is Sluffy still doing a nightly recap?

34 minutes ago, Tombwfc said:

 

If he sells to a crank like Bassini, and not to the mystery bidders (who would be better for the club by all accounts), does it still count as a miracle?

The miracle would be getting it into safe hands.  If the mystery bidder is safe hands ,Hallelujah

21 minutes ago, Pricey said:

I think once this is all over, everyone on here should buy you a pint!!! You're going to be very pissed

She drinks Cinzano Rosso. Keep up!

Edited March 30, 20197 yr by Gonk

1 hour ago, Howardroark said:

Ok, loans were made against transfers and  fees and then paid in to ICI/KA personal account. 

EFL and transfer fees then went to the club as normal, as reflected in the accounts. 

ICI as majority shareholder of Burnden Leisure and subsequently BWFC holds the debt against the assets on its books. 

In accounts that I have seen and you have not (the prospectus sent to city investors) this is referenced as an inter company obligation. 

 

 

Thanks for that. The  devil is in the detail, n'est ce pas, mon ami?

What it seems to boil down to is that a large pot of money, c. £10 m is presently unexplained, arising out of BWFC funds being switched to ICI leaving BWFC and Burnden Leisure unable to pay HMRC, the staff wages and a great many others whilst adding the factoring company to a long list of creditors.

Is that the size of it or is there more?

Edited March 30, 20197 yr by Chris Custodiet

Howard, when your buyers discovered the 12 million hole why didn’t they pull out? What have they done with the purchase price to mitigate this hole? 

Edited March 30, 20197 yr by Mounts Kipper

20 minutes ago, Chris Custodiet said:

Thanks for that. The  devil is in the detail, n'est ce pas, mon ami?

What it seems to boil down to is that a large pot of money, c. £10 m is presently unexplained, arising out of BWFC funds being switched to ICI leaving BWFC and Burnden Leisure unable to pay HMRC, the staff wages and a great many others whilst adding the factoring company to a long list of creditors.

Is that the size of it or is there more?

That’s it

8 minutes ago, Mounts Kipper said:

Howard, when your buyers discovered the 12 million hole why didn’t they pull out? What have they done with the purchase price to mitigate this hole? 

I believe it’s been agreed to be repaid over time and partly based on performance

1 hour ago, Chris Custodiet said:

Nobody would claim Ken Anderson is Snow White but lets be careful before he is burned at the stake on the basis of spin or supposition.

Let's just burn him at the stake. We can always apologise after.

(be reckless - it's easier to apologise than ask permission)

2 hours ago, RoadRunnerFan said:

Has anybody ever seen Maggie Tetlow quaffing Cinzano? That's the acid test. 

I've seen her sup plenty of lager back in the day!!

Maggies a nice enough lady, her politics might not be to everyones taste - but she's a massive Wanderers fan.

1 minute ago, wakey said:

 it's easier to apologise than ask permission

That line made me laugh too.

1 hour ago, Howardroark said:

Ok, loans were made against transfers and  fees and then paid in to ICI/KA personal account. 

EFL and transfer fees then went to the club as normal, as reflected in the accounts. 

ICI as majority shareholder of Burnden Leisure and subsequently BWFC holds the debt against the assets on its books. 

In accounts that I have seen and you have not (the prospectus sent to city investors) this is referenced as an inter company obligation. 

 

 

confused ... might be being a bit thick. Are you saying there's a £12m intercompany debtor in the BL accounts sent round the city Howard? I thought the £12m additional debt was a surprise, or did you mean a surprise to anyone who hadn't seen the prospectus?

15 minutes ago, Howardroark said:

I believe it’s been agreed to be repaid over time and partly based on performance

That would make sense if linked to the ED performance related payout being dropped. They would partially cancel each other. 

4 minutes ago, wakey said:

confused ... might be being a bit thick. Are you saying there's a £12m intercompany debtor in the BL accounts sent round the city Howard? I thought the £12m additional debt was a surprise, or did you mean a surprise to anyone who hadn't seen the prospectus?

Surprise to anybody who hadn’t seen it. They told the City it would be written off, they didn’t acknowledge its existence to Basran until the very end.

 

had Basran not seen the prospectus numbers?

I’m fucking lost in all this now. Reading through a Dorada fuelled haze...

if FL sanction Bassinni as “fit and proper” after us being so under their radar for so long; and it all goes tits up again. They should be held partly responsible, as they are the only ones who can apparently intervene. 

Hopng to god Howard’s unknown (possible nut jobs) get the gig, so then it’s just Ken’s fault if it goes tits up...

Quite honestly fucked off with all this and just want to watch football again. Remember that, no matter how shit. 

Giddy Goose got match on live over here so will be able to have the piss ripped out of me by various other wank clubs fans..

BTID

2 minutes ago, Ratwhite said:

I’m fucking lost in all this now. Reading through a Dorada fuelled haze...

if FL sanction Bassinni as “fit and proper” after us being so under their radar for so long; and it all goes tits up again. They should be held partly responsible, as they are the only ones who can apparently intervene. 

Hopng to god Howard’s unknown (possible nut jobs) get the gig, so then it’s just Ken’s fault if it goes tits up...

Quite honestly fucked off with all this and just want to watch football again. Remember that, no matter how shit. 

Giddy Goose got match on live over here so will be able to have the piss ripped out of me by various other wank clubs fans..

BTID

Giddy goose still a Wanderers pub? 

22 minutes ago, Howardroark said:

That’s it

The prospectus is for which shares, Burnden Leisure or Inner Circle Investments Ltd. Big difference. From what you say, shouldn't  ICIL have a pot of cash that it owes  to BWFC or has the cash gone somewhere else?

12 minutes ago, wakey said:

had Basran not seen the prospectus numbers?

No

6 minutes ago, Chris Custodiet said:

The prospectus is for which shares, Burnden Leisure or Inner Circle Investments Ltd. Big difference. From what you say, shouldn't  ICIL have a pot of cash that it owes  to BWFC or has the cash gone somewhere else?

Burnden Leisure

16 minutes ago, Mounts Kipper said:

Giddy goose still a Wanderers pub? 

It is indeed. My uncle owns it. Seeing him this afternoon as he’s back in the UK at the moment. I set the ifollow up there for him so he could get all the games on. 

26 minutes ago, Mounts Kipper said:

Giddy goose still a Wanderers pub? 

Yes pal

flag hung on wall and memorabilia inside 

10 minutes ago, JJ10 said:

It is indeed. My uncle owns it. Seeing him this afternoon as he’s back in the UK at the moment. I set the ifollow up there for him so he could get all the games on. 

Love how BOLTON is wrote in block capitals and a different couple than rest on fixtures board.

snall things en all that 

Howard - assuming this Bassini stuff fizzles out because he hasn't got the cash, what will the sequence of events be on April 2?

55 minutes ago, Howardroark said:

Burnden Leisure

So we are still left with ICIL having a large pot of money that it owes to BWFC and that KA wants to leave out of the deal? Any debt wouldn't disappear on takeover but the successful bidder might have difficulty collecting it at a later date if it isn't sorted out now.

When Ken eventually paid the wages last month it sounds likely to have come from this pot. It was never likely to have come out of Ken's personal funds was it?

Would I be right in thinking that this stuff has only emerged in the last week or so?

Edited March 30, 20197 yr by Chris Custodiet

2 minutes ago, Ratwhite said:

Love how BOLTON is wrote in block capitals and a different couple than rest on fixtures board.

snall things en all that 

Haha. That’s Rule No. 1 

My uncles had it for 25 years. Never changed. The bar used to sponsor lofty a while back.