It's happening. 

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

Thank fuck

Howard said the deadline was 4.30 today, maybe he's waiting until after that to make his grand return to tell us it's all done! 

(we can hope) 

Rumours that pension contributions have not been made for BWFC staff, administrative oversight or worse?  

Not paying the pension contributions isn't that illegal? 

3 minutes ago, Okocha10 said:

Not paying the pension contributions isn't that illegal? 

if theres no money in the pot, theres no money in the pot.

folk can keep moaning about shit not being paid, but we literally have no money.

i assume the gate receipts are keeping the lights on at best.

Edited April 9, 20197 yr by HomerJay

22 minutes ago, bwfcfan5 said:

The players can walk - but I think they cannot sign anywhere else now till summer. 

So whilst some might walk - they'd all have to go to actually stop games going ahead. 

Beevers was reportedly off to the states last time they went a while without being paid. 

They can bugger off overseas if they want without any delay if they don't get paid. 

1 minute ago, frank_spencer said:

Beevers was reportedly off to the states last time they went a while without being paid. 

They can bugger off overseas if they want without any delay if they don't get paid. 

A few might. But not in numbers I wouldn't have thought. 

Anyone else see that Luca Navarro, our under 23s player player and scored for Hull City U23s. What’s that all about? 

 

56 minutes ago, DLH said:

Why would they not walk away?

Let me give you a real life example, 5 weeks ago I went to a meeting with a business to discuss acquiring them, we (Me, the CEO and COO of the business I work for)  had a figure in our heads of £2m max. 10 times EBITDA, well above average for the industry and not something they'd get close to unless they were dealing with one of our competitors, although our main competitors have stuff in the area so its unlikely they'd get close.

The owners opening gambit was wanting £5m no less. we had a chat, pointed out a few home truths about the lack of certain information, unrealistic purchase price etc...etc... we proposed a decent bonus for them under certain conditions, would probably have put another £0.5m in his back pocket... The owner wouldn't move.

We walked away, we move onto the next business opportunity in the area... We could have made £20-30 million in the next 18-24 months out of the business, but we can make £23-33m paying the right price... That's 10-15% difference in profit, so you walk away... We'll possibly buy one of the other local companies, probably make there owners millionaires, he loses out. 

As for the rest, feck me... he's put his family's financial wellbeing at risk? Didn't you say you worked for a private accountancy firm for 46 years?? I'm assuming you're on reception or something then? Everything in the public domain points to one thing, KA's mitigated all the risk from himself, and he's made a nice slice off the top in consultancy. 

Of course, people will walk away from a deal if someone is asking too much and ain't going to budge but if they seriously want the business and they know the owner's going to be desparate in a few weeks time they'll usually wait those few weeks. But you speak as if BWFC were  a run-of-the-mill tradeable commodity but it isn't really like that, is it?

The thing that Howard has put into  the public domain is that KA borrowed £3m from Eddie Davies that KA lent to BWFC (presumably to pay wages) and that KA had no security for the loan until 2-3 weeks after Eddie's death or potentially six months longer if a liquidator were to set aside the security as an unfair preference. That's a lot of risk in my book. I expect it was to Mr and Mrs Anderson.

The consultancy fees in 2017 have already been explained on multiple occasions but continue to be misrepresented in the media, most recently in The Times yesterday. The 2018 consultancy fees have not yet been disclosed but I do expect they will be quite substantial based on the sale of Madine, maintenance of Championship status and a reported profit. Most football agents would have wanted 10% of the Madine sale and I expect KA would think his efforts on that and securing a £1million reduction in Blumarble interest charges provided the club with good value.

I have no doubt that when these figures are known there will be outrage as the amounts collected by footballers and their agents is outrageous by the standards of ordinary working people, not least the permanent staff of BWFC. But you have rather proved to me that any claims you make should be treated with caution.

 

Edited April 9, 20197 yr by Chris Custodiet

10 minutes ago, Mantra said:

Anyone else see that Luca Navarro, our under 23s player player and scored for Hull City U23s. What’s that all about? 

 

hes been on loan and bamber bridge recently too..

dunno if thats good or bad

1 minute ago, frank_spencer said:

Beevers was reportedly off to the states last time they went a while without being paid. 

They can bugger off overseas if they want without any delay if they don't get paid. 

Not sure that is true, their registration would be the issue. The players will get paid eventually by the club or the PFA so unless they are desperate for some short term cash they wont walk away. They are still 'earning'.

The longer this drags on the more worried I become about the future of the club.

The question that has been asked but never answered is 'how much has ken cut the running costs of the club by ?'  . The lack of produced accounts makes it impossible to work out and even then comparing year on year when factors such as division you are in, fees received etc. come in it might not be easy.

33 minutes ago, JJ10 said:

Howard said the deadline was 4.30 today, maybe he's waiting until after that to make his grand return to tell us it's all done! 

(we can hope) 

45 mins to go.

And if twitter/instagram are to be believed, Ken is currently on holiday in Dubai posting his holiday pics.

 

Kathy Lloyd is in Dubai, presumably with Lee and daughter, don’t know about KA. Anyway, he will have left instruction or will issue instruction either way, I am sure.

Pension contributions for staff not paid due to frozen accounts, Iles reckons.

Edited April 9, 20197 yr by white noise

Do you not think Ken is letting everything go now he knows his shares will be taken at 4.30

Heard hoping Howard

What's going to happen if we haven't heard anything at 4.31? Does this mean it is confirmed that Howard is the best wum ever?

Just now, Blondi said:

What's going to happen if we haven't heard anything at 4.31? Does this mean it is confirmed that Howard is the best wum ever?

No... Prisoner Paradox

Fuck all is happening - H is a fraud.

H did say nothing would happen till the day after and that was when it was all happening to plan.

 

That might be a made up plan !!

19 minutes ago, white noise said:

Kathy Lloyd is in Dubai, presumably with Lee and daughter, don’t know about KA. Anyway, he will have left instruction or will issue instruction either way, I am sure.

No idea what his instagram account is so can't check the truth of this.   But if it's true he's on holiday in Dubai when the players aren't being paid, and all this malarkey is going on, I'm going to have to start using a capital C from now on.

 

1 hour ago, Mantra said:

Will they though? I thought H’s group bought the debt so that they could recall them.

Davies family has little desire to call in the shares themselves and run the club until it can be sold, so I thought.

You're making the assumption H and his lot are for real.

As I suggested above, if they don't, then sooner or later moonshift will want their money back.

They may or may not have dated the letter and set this in motion.

Perhaps if they did, then maybe the club would be sold on pretty quickly, as the sweaty one would have much less of a say.

2 minutes ago, chrisw99 said:

No idea what his instagram account is so can't check the truth of this.   But if it's true he's on holiday in Dubai when the players aren't being paid, and all this malarkey is going on, I'm going to have to start using a capital C from now on.

 

He's not legally obliged to pay. Morally yes, legally no.

If, and it's a big IF, Howards lot are the real deal, then he said (before the 7day extension) that they would make an announcement last Tuesday at 4.30 if they're taking the shares, so surely that applies to today as the 7day extension was on the deadline date of the share recall and not the date KA appealed?

1 minute ago, Wigan White pt2 said:

If, and it's a big IF, Howards lot are the real deal, then he said (before the 7day extension) that they would make an announcement last Tuesday at 4.30 if they're taking the shares, so surely that applies to today as the 7day extension was on the deadline date of the share recall and not the date KA appealed?

That’s how I took it when the extension was given. Fingers cross then hey, he’s got 3 minutes 

Well he's logged in... ready for an announcement?

 

Just now, chrisw99 said:

Well he's logged in... ready for an announcement?

 

He's been logging in a lot for the past week.