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Wanderers Ways - passion not fashion

Take Over


Kane57
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10 minutes ago, Traf said:

Correct, none whatsoever.

But I think it's a case of can't pay, rather than won't pay.

Still unpalatable, of course.

Let’s hope he sorts it out in the next day or two. My thoughts are he won’t pay it and is relying on the takeover going through.

What happens if takeover fails through? That might be a big big problem as I can’t see his what his fall back plan will be. 

Edited by Mounts Kipper
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17 minutes ago, bwfcfan5 said:

Iles really pissing me off this morning. He knew full well that with due diligence under way and a takeover potentially close that wages were not being paid. He knows there is nothing in the coffers and that nobody in their right mind is forking out of their own pockets to pay wages for a business they might have no stake in within a week or two.

What an absolute cockend he is. Making out like this is some massive story to cover. I feel sorry for the staff who might not get paid, I really do. But Iles really needs to stop dramatising everything for clicks. He's a local news reporter acting like he's reporting national emergencies for ITN.....
 

Thats all the Bolton News (and they are not alone) cares about- the story as they see it all the better with a sensationalist angle to it. Often is a non story dressed up as a major one. I used to have to deal with Bolton News 'enquiries' in my job but soon realised most of the time they already have the story written and will bend whatever you say to suit their narrative.

The standard of journalism tho at Bolton News now just makes them look so amatuer so iles fits right in. Cant even get place names and locations in Bolton right. 

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24 minutes ago, Mounts Kipper said:

What happens if takeover fails through? 

The ST come to the rescue and bail us out B)

 

Seriously though, if the takeover was to collapse, and it certainly could, then I'm thinking it will be a most unpleasant time for us, as this time, I suspect the pot really is empty

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1 minute ago, Sweep said:

The ST come to the rescue and bail us out B)

 

Seriously though, if the takeover was to collapse, and it certainly could, then I'm thinking it will be a most unpleasant time for us, as this time, I suspect the pot really is empty

I also suspect that Ken is of a mind that he's gone. Out. 

No appetite for any more.

I shall reserve final judgement until figures are released showing what he actually earned from the club

 

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31 minutes ago, snowball said:

Thats all the Bolton News (and they are not alone) cares about- the story as they see it all the better with a sensationalist angle to it. Often is a non story dressed up as a major one. I used to have to deal with Bolton News 'enquiries' in my job but soon realised most of the time they already have the story written and will bend whatever you say to suit their narrative.

The standard of journalism tho at Bolton News now just makes them look so amatuer so iles fits right in. Cant even get place names and locations in Bolton right. 

I strongly suspect that the problem with the Beeno pre-dated the arrival of Marc Iles. Can anyone tell me when he arrived on the scene and why Garty banned him?  Apparently he had the email framed as a kind of 'badge of honour'.

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22 minutes ago, Tonge moor green jacket said:

I also suspect that Ken is of a mind that he's gone. Out. 

No appetite for any more.

I shall reserve final judgement until figures are released showing what he actually earned from the club

 

probably

but if for whatever reason the takeover doesn't happen, or drags on a few weeks, should it be his responsbility to pay them?

I'd say so, it's still his club

It wouldn't surprise me if the next stumbling block comes because he's told the new buyers to pay this month's wages

the sooner this fucking saga ends, the better

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7 minutes ago, ZicoKelly said:

probably

but if for whatever reason the takeover doesn't happen, or drags on a few weeks, should it be his responsbility to pay them?

I'd say so, it's still his club

It wouldn't surprise me if the next stumbling block comes because he's told the new buyers to pay this month's wages

the sooner this fucking saga ends, the better

Way I see it is Ken knows either the thing is sold - or goes into admin either voluntarily or forced by HMRC.....

I think that is the bottom line now. 20th March - court date - if deal not done by then....

Either way I don't see him putting his own money in now. 

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7 minutes ago, bwfcfan5 said:

Way I see it is Ken knows either the thing is sold - or goes into admin either voluntarily or forced by HMRC.....

I think that is the bottom line now. 20th March - court date - if deal not done by then....

Either way I don't see him putting his own money in now. 

if he is getting more money from the sales than he would from administrators he might to make the deal happen.

But the sooner this seemingly endless cycle is over the better for everyone.

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25 minutes ago, passmosster said:

The court won't sanction a winding up order if the takeover is in process.

As usual, HMRC are wasting everyone's time. Years ago I was in a similar situation and explained to them what was happening. They held off.

Indeed. But by the time that is in front of a court the takeover will have happened or collapsed or at the very least be in considerable doubt.....

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2 minutes ago, gonzo said:

 

FFS - buyers are in process of due diligence. So they will be aware there is no cash in the business to settle wages. 

How does Iles know this hasn't been factored into the negotiation? If the plan was to rush through the deal before wages then the new owners would have "taken the hit" anyway....

 

 

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5 hours ago, gonzo said:

It’s the age old question but what do people ken is actually doing with the players wages? 

Down the casino or sat fanning himself with them in Monaco? 

Theres a reason Payment’s are late. There’s always been a reason. Theft isn’t one of them. 

 

650k might go a fair way...

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1 hour ago, passmosster said:

The court won't sanction a winding up order if the takeover is in process.

As usual, HMRC are wasting everyone's time. Years ago I was in a similar situation and explained to them what was happening. They held off.

Yup. HMRC are just bullies. They will generally only chase people the have a chance of getting money from.

You can talk them round like any other creditor within reason. Just need to keep them on your side best you can.

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1 hour ago, gonzo said:

“The good name of this proud football club dragged through the mud yet again”

Jesus Christ Id sell my soul to never see that in the written word ever again.

 Dramatic bastards. 

The EFL had 'blood on their hands' when we sent back a 1 in 17 bag  'o' biz back from whence he came and our beloved chairman cocked a snook at some yoghurt-weaving, redundancy-happy, deadbeat dad stinky hippy twat.

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3 minutes ago, HomerJay said:

Yup. HMRC are just bullies. They will generally only chase people the have a chance of getting money from.

You can talk them round like any other creditor within reason. Just need to keep them on your side best you can.

Tell 'em to fuck off, what's honestly the worst they can do? Take your telly and washing machine? Whoop-di-do.

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2 hours ago, ZicoKelly said:

probably

but if for whatever reason the takeover doesn't happen, or drags on a few weeks, should it be his responsbility to pay them?

I'd say so, it's still his club

It wouldn't surprise me if the next stumbling block comes because he's told the new buyers to pay this month's wages

the sooner this fucking saga ends, the better

Agree entirely. 

His previous ramblings don't fill me with great confidence.

Just hope it gets over the line quickly.

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1 hour ago, gonzo said:

 

How about delayng player wages payment until due diligence is complete and the money in place?

One weeks delay would delay the tax on the wages by five weeks and the tax will, as ever, be a big chunk of it.

I'm sure Ken's  thought of that but he does need to get the deal over the line. Big problems if he can't

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