It's happening. 

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

Thank fuck

Feels like an attempt to call someone’s bluff. 

1 minute ago, radcliffewhite1 said:

Yes my take it allows time to sort the formalities out for administration & like you say in the event of a buyer 

 

Hope so.

Reckon it means Ken's out of the equation now though.

2 minutes ago, Ani said:

Feels like an attempt to call someone’s bluff. 

wouldn't be the first time

When does the efl decide our punishment? 

Potential buyers could be waiting on the severity 

Does the notice of intent mean we still get deducted the points?

This should of been solved in court really can not believe they have adjourned this just off the intent we are filling for admin, after twice saying we are imminently about to be bought out just so we could get the court to adjourn the case.

Edited May 8, 20197 yr by Okocha10

2 minutes ago, Matty said:

Does the notice of intent mean we still get deducted the points?

Not until it’s confirmed we have entered administration 

Edited May 8, 20197 yr by radcliffe white

Well as it stands we’re not in Admin. Fcuk knows what happens now, to sort it out. 

Radio 5 news just said KA put club into admin n 12 point deduction- amateur and inaccurate reporting again 

3 minutes ago, Biffo666 said:

Radio 5 news just said KA put club into admin n 12 point deduction- amateur and inaccurate reporting again 

They the bbc are inaccurate all over the globe fwiw.

1 minute ago, Take Hunt Off said:

They the bbc are inaccurate all over the globe fwiw.

 

Not that it's primary concern yet still, but this is another shambolic pre-season in the making.

Just now, Marc505 said:

Not that it's primary concern yet still, but this is another shambolic pre-season in the making.

No Portugal or Spain then 

 

2 minutes ago, Marc505 said:

Not that it's primary concern yet still, but this is another shambolic pre-season in the making.

And god knows how it will affect season ticket sales - normally they'd be on sale now with early birds for the next 4 weeks. 

A little bit concerned our direct debits "auto-renew", when does the first payment for next season come out?  I'm tempted to cancel my DD with the bank.

 

So if we are in admin and it was initiated by the Davies family does that mean that:

• Anderson is now likely to get his 5 million?
• Is it likely that it will be ringfenced to pay back the 5 million he borrowed from ED or is there a way he can avoid repayment? (plus the other 3 million)?
• Davies family will have to cough up a further 5 million for admin?
• That they probably have a buyer lined up otherwise they wouldn't have triggered it in the first place - and are taking the risk that their preferred buyer will win the auction?

2 minutes ago, chrisw99 said:

And god knows how it will affect season ticket sales - normally they'd be on sale now with early birds for the next 4 weeks. 

A little bit concerned our direct debits "auto-renew", when does the first payment for next season come out?  I'm tempted to cancel my DD with the bank.

 

You should, as there might not be any footy

If that was a valid reason everyone would've cancelled years ago.

5 minutes ago, Mr Grey said:

Kathy L in slag wellies

Thinking more of June Ackland 

While all of this is going on; lets not forget this is a further 2 weeks that staff at the club and hotel will go without being paid. We all thought this would be the final date for a decision, and instead we still aren't in administration, and players such as Pawel can leave tomorrow, free of charge.

It's a total disgrace. 

Chairman’s notes - spends more time spouting bollocks about another clown and how his families reputation has been affected (oh poor Ken) than apologising for the shit storm and self gaining actions he has taken

what a complete and utter rancid twat this fella is

4 minutes ago, Matthew1234 said:

While all of this is going on; lets not forget this is a further 2 weeks that staff at the club and hotel will go without being paid. We all thought this would be the final date for a decision, and instead we still aren't in administration, and players such as Pawel can leave tomorrow, free of charge.

It's a total disgrace. 

Nothing surprises me anymore 

I have today learned that Moonshift putting the club in to admin does not result in the collection and transfer of collateral (shares) from KA. Therefore KA will still owe Moonshift £5M on the fixed charge.

The main issue for Moonshift is the funding of administration and I’m told this will be done by 

a) Reducing club outgoings by allowing players and staff to walk, or alternatively making them redundant upon appointment of administrators. 

b) Some funding provided by FV 

c) Club funds currently in place 

The reason that FV are considered to be favourites and are probably going to be the only bidder is because they have a deal   with PBP & Warburton that will see the novation of the debt obligation to FV. This reduces the costs of buying from admin by £8M. 

Worth noting though that FV fell at the same hurdle as Bassini and for the exact same reason- couldn’t provide EFL with proof of funds for ongoing support.

Would I be correct in thinking 10 working days to get an Administration company in, with all creditors agreed on the company?

10 working days to finalise a sale of the club and hotel, lock stock and barrel?

If neither have been done before 22nd May then the judge will/can wind up?

Need @Howardroark to come back and explain it all to us now

 

Edit - he has oops ! , Well sort of and tbh I still don't understand things

Edited May 8, 20197 yr by hughmungus

Is there any significance in KA not being represented in court? The judge made reference to it so it struck him as surprising and there's a note of finality about the chairman's notes. Once the club goes into admin is he fully out of the picture, bar any status as a creditor?