It's happening. 

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

Thank fuck

I think the only conceivable reason why the Chinese consortium are interested in The Trotters is because 2019 is the year of the pig... 

All linking nicely with a return for Spam Allardyce...

1 hour ago, Tommy Banks said:

It’s gonna be a long painful summer 

It’s been painful since Sam left in 2007, so what’s a few more months. 

First things first. We haven't got a buyer yet.

No way on earth is Allardyce coming back to manage Bolton, I think we all know that. Hon. President would maybe appeal to him but not in any other capacity.

Anderson to take the hotel?

I'm surprised that this seems to have gone under the radar of most people up to now.

I've just posted this over on Nuts -

Interesting!

As I mentioned before secured creditors charged against a specific asset can appoint an Administrator to take possession of that asset on default of their settlement.

Looks to me that Ken and Michael James are going to battle it out for the hotel (both have secured charges set against it which are now in default) because Fildraw have apparently not covered the hotel in their appointment of Administrators!

"Appleton and Miller will take charge of parent company Burnden Leisure Limited and the Bolton Wanderers Football and Athletic Company. 

The Whites Hotel does not fall under their control, however, and could be placed into the hands of a separate administrator by one of the Qualifying Floating Charge Holders, local businessman Michael James, or even Anderson himself". 

https://www.theboltonnews.co.uk/sport/17637661.bolton-wanderers-administrator-time-is-now-of-the-essence/

3 minutes ago, Sluffy said:

Anderson to take the hotel?

I'm surprised that this seems to have gone under the radar of most people up to now.

I've just posted this over on Nuts -

Interesting!

As I mentioned before secured creditors charged against a specific asset can appoint an Administrator to take possession of that asset on default of their settlement.

Looks to me that Ken and Michael James are going to battle it out for the hotel (both have secured charges set against it which are now in default) because Fildraw have apparently not covered the hotel in their appointment of Administrators!

"Appleton and Miller will take charge of parent company Burnden Leisure Limited and the Bolton Wanderers Football and Athletic Company. 

The Whites Hotel does not fall under their control, however, and could be placed into the hands of a separate administrator by one of the Qualifying Floating Charge Holders, local businessman Michael James, or even Anderson himself". 

https://www.theboltonnews.co.uk/sport/17637661.bolton-wanderers-administrator-time-is-now-of-the-essence/

It says that James or Anderson will appoint an administrator...not "take"....

8 minutes ago, Nowack said:

No way on earth is Allardyce coming back to manage Bolton, I think we all know that. Hon. President would maybe appeal to him but not in any other capacity.

he did say he would come back but only if the new owners showed ambition and not as manager. so im thinking if he did and thats a big if it would be director of football.

 

6 minutes ago, Sluffy said:

Anderson to take the hotel?

I'm surprised that this seems to have gone under the radar of most people up to now.

I've just posted this over on Nuts -

Interesting!

As I mentioned before secured creditors charged against a specific asset can appoint an Administrator to take possession of that asset on default of their settlement.

Looks to me that Ken and Michael James are going to battle it out for the hotel (both have secured charges set against it which are now in default) because Fildraw have apparently not covered the hotel in their appointment of Administrators!

"Appleton and Miller will take charge of parent company Burnden Leisure Limited and the Bolton Wanderers Football and Athletic Company. 

The Whites Hotel does not fall under their control, however, and could be placed into the hands of a separate administrator by one of the Qualifying Floating Charge Holders, local businessman Michael James, or even Anderson himself". 

https://www.theboltonnews.co.uk/sport/17637661.bolton-wanderers-administrator-time-is-now-of-the-essence/

Are fildraw owed by the hotel ? If not, they can't place it in admin.

2 minutes ago, ZiggyStardust said:

Are fildraw owed by the hotel ? If not, they can't place it in admin.

will new buyers be getting hotel aswell or are they selling seperate

 

1 minute ago, bwfcfan5 said:

It says that James or Anderson will appoint an administrator...not "take"....

Thank you I can read.

The hotel is a limited company and as such is an entirely separate legal entity than the club, and Burnden Leisure, even though it does come under the umbrella of the companies of Burnden Leisure itself.  It has it's own Directors for example.

As such it is free to be sold off, merged, closed down or have its assets ceased by a secured creditor on default.

This is exactly what BluMarble were doing when they threatened to cease the assets of the hotel to clear their debt - which as it was £5m could only mean taking control of the hotel and settling the difference if the hotel value being greater than £5m.

Anderson merely replaced BM's charge on the hotel (when it had been settled) with one of his own.

To answer Ziggy's point above, it is significant that Fildraw has deliberately excluded the hotel from their Administration as it was exactly the same set up as the club and Burnden Leisure in that 'Moonshift' was shown as the charge holder of all of them.

If Moonshift's charge on the club and BL can be moved to Fildraw in order to appoint an Administrator for them, then no doubt it could have been done for the hotel too.

That's my reasoning anyway.

15 minutes ago, sleepingindian said:

 will new buyers be getting hotel as well or are they selling separate

As it appears to stand at the moment, the hotel doesn't seem to be under Administration, so I guess it could be bought directly by a purchaser if they so desired, not forgetting they would need to deal with the winding up petition on it first (and any others creditors who may piggy back on to it).

More likely though they will wait for Administration - which I would imagine wouldn't involve the artificial levels of settling with their creditors set by the EFL for league clubs - because it is separate from the football side of the business - even if it is part of the stadium itself.  

There would be nothing to prevent a potential buyer purchasing both the club and hotel from the two separate Administrations though, if that was their intent.

 

FFS why is nothing with the clubs finances simple. All the previous shenanigans of the owners are a disgrace 

Probably been mentioned but can’t be arsed scrolling back 

the deduction is confirmed for next season 

The only way Sam comes anywhere near the gaff is in a DoF capacity and the ching a lings as owners chucking their Yen about 

Any long term, Financially stable business model where the club needs to rebuild and live within its means and he’ll be nowhere near it 

he loves the club but not as much as he loves himself 

Does anyone know anyone that works at the club? Have they been told any information today as the adminstrators move in?

1 minute ago, BIGBW said:

Does anyone know anyone that works at the club? Have they been told any information today as the adminstrators move in?

Meeting at 2.30 today with all staff.

1 hour ago, sleepingindian said:

he did say he would come back but only if the new owners showed ambition and not as manager. so im thinking if he did and thats a big if it would be director of football.

 

yes, i heard him say he would be interested in that role.

This happened somewhere I used to work at and they called everyone in to the warehouse and some young lad in his early 20s who hadn't even bothered to do his tie up properly told us we were all redundant almost with a smile on his face. Will never know if a straight tie would have made the day better for us but knowing someone who works at the hotel and hasn't been getting paid I hope it goes better for them this afternoon.

6 minutes ago, HomerJay said:

yes, i heard him say he would be interested in that role.

it would be ideal. but will need a strong manager. to get us mid table or play off. or keep us out of relagation. 4 teams go down from L1

 

Just now, sleepingindian said:

it would be ideal. but will need a strong manager. to get us mid table or play off. or keep us out of relagation. 4 teams go down from L1

 

Phil Brown obviously

Big Sam can fuck off. 

If he comes back he's coming back because he'll get paid shit loads and it's convenient for him. It won't be because of a love for the club.

If it's just the 12 points deducted I can see us being well out of the bottom 4 by Christmas, all depends on good recruitment and strong management.

under big sam he would be good. 

 

 

First thing is to ensure we still have a club to support. To be honest I’m not totally convinced that we know the size of the debt, and who owes what to who

Just now, DomRepWanderer said:

If it's just the 12 points deducted I can see us being well out of the bottom 4 by Christmas, all depends on good recruitment and strong management.

gonna need alot of new signings. think theres only a couple in contract and 2 are GK.