It's happening. 

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

Thank fuck

16 minutes ago, Tommy Banks said:

It doesn't sound good does it. Think he was right about funding clubs outside the premiership. Without speaking ill of those no longer with us I can't get my head around business people allowing the club to incur the millions of pounds of debt when quite clearly it couldn't survive outside the prem. I get the issue of trying to get promotion but there should always be a plan B. 

I can explain it....

Go back to when PG first took charge. The club was in a mess, Todd and Frandsen went - there was a huge financial blackhole. It was run carefully for a number of seasons and even managed to gain promotion under Allardyce. Cast your mind back to those first couple of premiership seasons and spending was tight, the club broke even or made a profit. And players were on heavily performance based deals with relegation clauses.

But as time goes on...Sam wants to sign better and better players. These players won't come if they're being told "we're halving your wages if we go down". They don't want to be at a club that might go down. So relegation clauses go. You have an incredibly ambitious manager who runs the club from top to bottom and has a big say over player budgets. To keep him happy and because the premiership money is there you relax a little. Then things go well. And Europe is in sight. Still you've spent little getting here. But the manager wants more, naturally. So you start asking ED for money to buy a couple of players. He gives a little at first, for Diouf. Then more for Anelka. Then suddenly you're a spending club with a large wage bill. Then the manager goes and things go South a bit...at this point you've already overstretched and are at risk of losing the premiership millions. Do you a) ask for more investment try and stay up and rebuild or b) cut your losses and go down...we went for a), not unreasonably. But spent money. Then a bit more. Then we're in too deep to risk going down. So we spend more. And make bad managerial appointments. Some disastrous ones. then we go down and are in a huge hole. But if we go back up there is more money than ever...so we spent a bit more to go back up...fail...

 

Its easy in hindsight to say we should have been sustainable and told Allardyce he couldn't sign those expensive foreign stars and instead stick to a budget. But once you don't...once you start loosening the purse strings. Its hard to stop. 

 

29 minutes ago, bwfcfan5 said:

Nixon saying this is to "soften the blow" when Bassini is paraded round the ground wearing a BWFC scarf....

We'll see.

Better than liquidation TBH. If its Bassini i'd rather Anderson just said he's in the process and be done with it.

7 minutes ago, bwfcfan5 said:

I can explain it....

Go back to when PG first took charge. The club was in a mess, Todd and Frandsen went - there was a huge financial blackhole. It was run carefully for a number of seasons and even managed to gain promotion under Allardyce. Cast your mind back to those first couple of premiership seasons and spending was tight, the club broke even or made a profit. And players were on heavily performance based deals with relegation clauses.

But as time goes on...Sam wants to sign better and better players. These players won't come if they're being told "we're halving your wages if we go down". They don't want to be at a club that might go down. So relegation clauses go. You have an incredibly ambitious manager who runs the club from top to bottom and has a big say over player budgets. To keep him happy and because the premiership money is there you relax a little. Then things go well. And Europe is in sight. Still you've spent little getting here. But the manager wants more, naturally. So you start asking ED for money to buy a couple of players. He gives a little at first, for Diouf. Then more for Anelka. Then suddenly you're a spending club with a large wage bill. Then the manager goes and things go South a bit...at this point you've already overstretched and are at risk of losing the premiership millions. Do you a) ask for more investment try and stay up and rebuild or b) cut your losses and go down...we went for a), not unreasonably. But spent money. Then a bit more. Then we're in too deep to risk going down. So we spend more. And make bad managerial appointments. Some disastrous ones. then we go down and are in a huge hole. But if we go back up there is more money than ever...so we spent a bit more to go back up...fail...

 

Its easy in hindsight to say we should have been sustainable and told Allardyce he couldn't sign those expensive foreign stars and instead stick to a budget. But once you don't...once you start loosening the purse strings. Its hard to stop. 

 

Great post 👍

3 minutes ago, dazl1212 said:

Better than liquidation TBH. If its Bassini i'd rather Anderson just said he's in the process and be done with it.

if its bassini atleast we are still alive and he could sell again. dont think bassini would be as bad as ka in a way of when he has to sell. may be ka on steroids though

 

Just now, sleepingindian said:

if its bassini atleast we are still alive and he could sell again. dont think bassini would be as bad as ka in a way of when he has to sell. may be ka on steroids though

 

Exactly, thats the main thing. Liquidation is not really an option to sane people.

All kens comments maybe point toward  administration? Can’t see anyone doing a solvent deal with all the debts which need paying?

No deal will be imminent I bet, just selling it again as we was in court with the hotel & wanted to make it sound to the courts somethings happening. It will go down to 8th of May. Think we all know this..

1 minute ago, dazl1212 said:

Exactly, thats the main thing. Liquidation is not really an option to sane people.

ill admit when i first heard of it i wsa noway not avin that. but need to look at the bigger picture. 

1 minute ago, Jcookie said:

All kens comments maybe point toward  administration? Can’t see anyone doing a solvent deal with all the debts which need paying?

It’s been asked countless times who’s going to fund admin? No one has answered that question. 

Just now, sleepingindian said:

if its bassini atleast we are still alive and he could sell again. dont think bassini would be as bad as ka in a way of when he has to sell. may be ka on steroids though

 

If its bassini he's still going to have to pay the debts, he hasn't got that kind of money so obviously someone backing him. In the court today the judge was told there was a delay in buying the shares and bassini said last week he wasn't dealing with Anderson anymore. I'm hoping Ken has been given a good bumming here and that is why he didn't mention a takeover. Iles mentioned the notes were rushed out before it's to late 🤔

 

3 minutes ago, sleepingindian said:

ill admit when i first heard of it i wsa noway not avin that. but need to look at the bigger picture. 

I was the same but when the other option is liquidation, then its an easy choice.

3 minutes ago, Mounts Kipper said:

It’s been asked countless times who’s going to fund admin? No one has answered that question. 

Yes maybe he’s chucked the towel in and voluntarily doing it 😂 

8 minutes ago, RedBloodzCell said:

the number of people On twitter....claiming   EFA

 

12 minutes ago, Mounts Kipper said:

It’s been asked countless times who’s going to fund admin? No one has answered that question. 

BW or MJ the only feasible answer 

Just now, gonzo said:

BW or MJ the only feasible answer 

IF you believe the trust, neither of them can put the club into admin....

Just as Ken was the only show in town last time, if Bassini is the only one this time around then we haven’t got much choice if we still want a club to support. Simple as that. 

I'm hoping this lunatic has some/a reasonably wealthy backer behind him who could fund decent lawyers to screw Anderson over.

After that, pay the bills - even in admin if needs be and move on. I care not whether said wealthy backers are billionaires - just enough to keep us going and screw the parasite

Howard will be back on in a bit, riding a white stallion. 

21 minutes ago, Gonk said:

 

EFA ??.

?

When news first broke of Bassini it was a nightmare that we didn't want anywhere near.

Things have got so bad since,  it's him or were truly f*cked. In that case hopefully he comes in and has some good backing. He's made bold statements for a guy who's skint. 

Money must be coming from somewhere. 

14 minutes ago, darrener said:

Howard will be back on in a bit, riding a white stallion. 

Think he's disappeared on his white stallion

1 hour ago, irvtheswerv said:

Maybe I'm in a minority, but I don't find the latest statement offensive. He confirms the club's loss making and can't pay it's way.  He doesn't have to fund it.  We need a buyer or bust.

I've said loads of times on this thread that the numbers don't stack up, all clubs lose money need a benefactor to prop them up,  but lots of people don't seem to want to accept it.  There is no plan B for football clubs that drop out of the premier league. 

All that was discussed at length when he first came.

The fact is ken said this that and the other which appears to have been a load of crap.

No problem with the wheeling and dealing, just with his cuntish nature, wrecking the club's name and his bullshit.

No problem if he can't afford to fund it, just stop being such a cunt.

57 minutes ago, bwfcfan5 said:

IF you believe the trust, neither of them can put the club into admin....

Why would a secured creditor pay £3 milllion to put the club into administration?  It it goes tits up you'll still get your money back, why waste £3 million??????

8 minutes ago, irvtheswerv said:

Why would a secured creditor pay £3 milllion to put the club into administration?  It it goes tits up you'll still get your money back, why waste £3 million??????

They wouldn't. I think its on the assumption that some of the creditors would do it to save the football club....