Take Over

[lowcarbon]

7 minutes ago, Mantra said:

Every point seems to have a counter point and it’s frustrating while trying to keep up with this.

We need admin or a solvent sale.

admin can’t happen without Ken or Moonshift saying “let’s do it”

Ken nor Moonshift want to press the admin button.

no time for a solvent sale to happen unless Bassini has made a load more money.

Bassini is a loon and no way is getting the cash.

Ken can’t put us into admin until Bassini pisses off, due to some sketchy agreement that could or could not be bollocks.

Bassini won’t piss off because he wants to “do the right thing.”

moonshift have no incentive to put us into admin other than the several fans guilt-tripping K Gordon and wanting to do right by Eddies legacy, at a cost which might see them get their money back.

If things change and Bassini does piss off Ken can put us into admin but why do that?  By letting Moonshift do it, he’s off the hook for 5 million.

If Moonshift do feel it’s the right thing to do then they need a quick deal.

Quick deal can’t happen because no one has the cash up front to take us out. And to make matters worse the front runners FVW have apparently decreased their team.

Long admin is unlikely, could result in business being wound down. But if someone can fund it then highest bidder wins.

liquidation in court tomorrow is possible but then again we could just ask for more time and the judge might not want to liquidate us as it fucks over the creditors.

if we don’t want to gamble on an adjournment we can buy 10 days with a “intent to appoint admin.”

So essentially anything is possible but everything is impossible.

did I miss anything?

That's just about how I understand it all, You forgot one thing....Anderson is a Cunt.

[Howardroark]

16 minutes ago, SalfordOriginal said:

Howard - What is your favorite way to kill an elephant?

With a paintbrush

[Howardroark]

10 minutes ago, Tommy Banks said:

Howard, who determines the threshold 

EFL have rules in place: 

All Football Creditors 

Fixed percentage of unsecured creditors (which in turn means secured creditors must be paid in full).

[radcliffe white]

7 minutes ago, Mr Grey said:

Them fucking paper straws in McDonald's are fucking shit, fucked my vanilla milk shake right up!

Bring back the plastic.

In other news Tank Top and Baz need a straightner outside the empty club shop.

Just so soggy, had one Sunday after forest  fucked me off 

[Take Hunt Off]

14 minutes ago, Mantra said:

Every point seems to have a counter point and it’s frustrating while trying to keep up with this.

We need admin or a solvent sale.

admin can’t happen without Ken or Moonshift saying “let’s do it”

Ken nor Moonshift want to press the admin button.

no time for a solvent sale to happen unless Bassini has made a load more money.

Bassini is a loon and no way is getting the cash.

Ken can’t put us into admin until Bassini pisses off, due to some sketchy agreement that could or could not be bollocks.

Bassini won’t piss off because he wants to “do the right thing.”

moonshift have no incentive to put us into admin other than the several fans guilt-tripping K Gordon and wanting to do right by Eddies legacy, at a cost which might see them get their money back.

If things change and Bassini does piss off Ken can put us into admin but why do that?  By letting Moonshift do it, he’s off the hook for 5 million.

If Moonshift do feel it’s the right thing to do then they need a quick deal.

Quick deal can’t happen because no one has the cash up front to take us out. And to make matters worse the front runners FVW have apparently decreased their team.

Long admin is unlikely, could result in business being wound down. But if someone can fund it then highest bidder wins.

liquidation in court tomorrow is possible but then again we could just ask for more time and the judge might not want to liquidate us as it fucks over the creditors.

if we don’t want to gamble on an adjournment we can buy 10 days with a “intent to appoint admin.”

So essentially anything is possible but everything is impossible.

did I miss anything?

Dont think you have ..

Apart from Baz & Anderson requiring straightening outside tumbleweed central.

[Farnywhite]

so do we need to go into administration before the court hearing ? or if not were looking for another extension date or its liquidation ? 

[Chrisj]

35 minutes ago, Farnywhite said:

so do we need to go into administration before the court hearing ? or if not were looking for another extension date or its liquidation ? 

We need to file an intent to go into admin that gives us 10 days to appoint one

[ErnestTurnip]

Been getting more worried as the day has gone on and remembered the chapter in Soccernomics that is entitled "The Worst Business In The World : Why Football Clubs Haven't Made Money". The last paragraph is this, and it gave me a bit a lift for at least 10 seconds :

"Unlike most businesses, football clubs survive crises because some of their customers stick with them no matter how lousy the product. Calling this brand loyalty is not quite respectful enough of sentiment involved. To quote Rogan Taylor, a Liverpool fan and Liverpool University professor, 'Football is more than just a business. No one has their ashes scattered down the aisle in Tesco.' "

That's our club and season in a nutshell at the moment, let's hope the outcome for us follows as well.

[masi 51]

Can some explain to me why we owe moonshift Eddie Davies circa 22m...I presume all this debt was amassed before Eddie Davies passing.

 

 

If you own a football club and sell it for £1 why the hell would you pump a further 15m into it if you never still owned it?

 

 

 

[frank_spencer]

21 minutes ago, masi 51 said:

Can some explain to me why we owe moonshift Eddie Davies circa 22m...I presume all this debt was amassed before Eddie Davies passing.

 

 

If you own a football club and sell it for £1 why the hell would you pump a further 15m into it if you never still owned it?

 

 

 

Davies left 15m debt in the club when he sold it to Anderson. 

He lent KA 5m a day or so before he died the other 3m is probably made up of other smaller monies 

[Tommy Banks]

TROTTERS PLEA 

Bolton to plead with High Court to let stricken club do deal with Football Ventures after Laurence Bassini takeover collapse

Trotters are poised to face a winding up order from HMRC and various other creditors in case 49 on Wednesday morning

By Alan Nixon

7th May 2019, 7:24 pm

Updated: 7th May 2019, 7:59 pm

BOLTON WANDERERS will plead with a High Court judge to let them do a deal with Football Ventures to take over the club.

Wanderers are poised to face a winding up order from HMRC and various other creditors in case 49 on Wednesday morning.

PA

1

Bolton will plead with a High Court judge to let them do a deal with Football Ventures to take over the club

And Wanderers are taking the administration route as would be buyer Laurence Bassini has failed to complete a purchase despite new efforts to find fresh backers.

Both chairman Ken Anderson and the Davies family - the main creditor - failed to reach agreement on how to handle the admin process yesterday.

 

However one of the parties will give notice of intent.

And they hope the judge gives them time to complete rather than place the club in liquidation.

Football Ventures are poised to step in.

Local businessman Mike James is also a leading creditor in the failed club and will be partnered by potential chief exec Sharon Brittan and investor Jeff Thomas.

 

The group have tried to buy Bolton for months but now prefer the admin route.

They had a deal with Far East partners but have cancelled that arrangement.

LATEST CHAMPIONSHIP NEWS

 

FINAL COUNTDOWN When are 2019 EFL play-off finals? Dates, fixtures, TV information

Bolton will start next season in League One following relegation from the Championship.

The Trotters were defeated at Nottingham Forest on Sunday.

That result left them in 23rd spot with only Ipswich below them.

 

Play VideoBroke Bolton face TWO sets of points deductions before start of next season

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COMMENT NOW

[Casino]

Junior tells me Iles headline bassini walks away

But article reads bassini doesn't think he can do deal

[Sluffy]

Apparently Bassini has pulled out - 

https://www.theboltonnews.co.uk/sport/17624268.laurence-bassini-gives-up-chase-for-admin-bound-wanderers/

In which case Anderson is no longer constrained from putting us into Admin.

 

@Mantra You've hadn't taken into account the ST's 21 day free dibs on purchasing the club from when it enters Admin, which needs to be worked around if the idea is to go in and out of Admin as quickly as possible.

 

[Escobarp]

But surely for the st to get 21 days they should by rights need to fund or contribute to the running costs in admin? Otherwise it’s a waste of time and money as they have no hope of buying the club. As well giving us lot 21 days 

[Casino]

Just now, Escobarp said:

But surely for the st to get 21 days they should by rights need to fund or contribute to the running costs in admin? Otherwise it’s a waste of time and money as they have no hope of buying the club. As well giving us lot 21 days 

The trust need to fcuk off out of the way

[Escobarp]

Just now, Casino said:

The trust need to fcuk off out of the way

Correct but in reality they will fuck about with worthless posturing 

[Casino]

I suspect they will be looking to step aside in return for board involvement of some form or other

[lowcarbon]

Bassini, the guy in control, walks away? Well we never saw that coming..

[Sluffy]

1 minute ago, Escobarp said:

But surely for the st to get 21 days they should by rights need to fund or contribute to the running costs in admin? Otherwise it’s a waste of time and money as they have no hope of buying the club. As well giving us lot 21 days 

I think the main  point is that nobody else can touch it for 21 days and as such it prevents Pre Pact Administration taking place.

I'm unsure if the ST could waive their entitlement to the 21 days (their appeal in the last two days strongly suggests they wouldn't intend to even if they could) or could just be used by others as a vessel to beat any other potential buyers to the purchase.

Either way it is a another hurdle in the process to be dealt with - and if it delays exiting Admin for 3 'artificial' weeks (and Admin costs an estimated £1m per month), one that could potentially rack up an unnecessary £750k to the club.

[gonzo]

12 minutes ago, Casino said:

The trust need to fcuk off out of the way

Let real buisness folk with real money try and sort the mess out.

Not some wally that trims is garden lawn with a pair of scissors and writes to the bolton news every day. 

[Escobarp]

3 minutes ago, Sluffy said:

I think the main  point is that nobody else can touch it for 21 days and as such it prevents Pre Pact Administration taking place.

I'm unsure if the ST could waive their entitlement to the 21 days (their appeal in the last two days strongly suggests they wouldn't intend to even if they could) or could just be used by others as a vessel to beat any other potential buyers to the purchase.

Either way it is a another hurdle in the process to be dealt with - and if it delays exiting Admin for 3 'artificial' weeks (and Admin costs an estimated £1m per month), one that could potentially rack up an unnecessary £750k to the club.

Exactly my point sluffy. They are effectively exercising a 3 week period of grace with an option to buy which comes with zero premium. It’s insanity and makes zero commercial sense. 

As casino says says they will likely trade this for some involvement/place on the board. It’s a pretty strong bargaining chip and I imagine the likes of FV have already had a quiet discussion along these lines with them. 

[Casino]

5 minutes ago, Sluffy said:

I think the main  point is that nobody else can touch it for 21 days and as such it prevents Pre Pact Administration taking place.

I'm unsure if the ST could waive their entitlement to the 21 days (their appeal in the last two days strongly suggests they wouldn't intend to even if they could) or could just be used by others as a vessel to beat any other potential buyers to the purchase.

Either way it is a another hurdle in the process to be dealt with - and if it delays exiting Admin for 3 'artificial' weeks (and Admin costs an estimated £1m per month), one that could potentially rack up an unnecessary £750k to the club.

As much as I fear they are a hindrance, you would think the likes of FV have their ducks all in order and will have had dialogue with the trust

[Boo]

1 minute ago, Casino said:

As much as I fear they are a hindrance, you would think the likes of FV have their ducks all in order and will have had dialogue with the trust

Doubt it, nobody can get a straight answer out of them.

[Howardroark]

Admin will run like an auction process for a set period of time, the administrators will invite interested parties to make a bid. The highest bid in respect of payments to creditors will win and move to completion. 

Its complete and utter nonsense that FV are in any way in ‘pole position’, that is unless Nixon knows the position of every single party considering making a bid during admin..... 

You can’t do a quick deal with a single party, EFL simply won’t allow it. With no games to fulfil the EFL have no pressure to simply bend the rules for FV, especially when they failed FPP last time around.....

[Casino]

Howard, what makes you think there will be many interested parties?

Where's the value for an investor

I know there's a belief the stadium is worth millions and there's land to be sold, however, if it's such a good buy cos of this, why hasn't Anderson already done It?