Guest Posted March 4, 2019 Posted March 4, 2019 Just now, boltondiver said: FFS, surely there’s a food bank in Horwich? No fuel to run the generator - being the major issue. Apparently.
Chris Custodiet Posted March 4, 2019 Posted March 4, 2019 37 minutes ago, birch-chorley said: The last set of accounts had us making a small profit, since then we have another £5m a season coming in from championship TV money I assume we are not making any substantial losses. It’s just a case of us being a few months behind and constantly chasing the next instalment. As a business we have plenty of assets (ground, car park, Lostock) The last set of published group accounts (2017) had us making an operating loss of £13.5m with another £1.8m payable in interest. Exceptional items of £15m from loan write offs and sale of assets/players reduced it to a small loss but trade creditors increasing to a whopping £4.8m. The expected operating losses for 2017/18 were of the order of £5-6million and it was hard to see how we could get through to the end of the season before the Madine sale. I haven't seen any predictions of the operating losses for this season. Costs might have been cut a bit more but it was still difficult to see how we could get through without an injection of new cash let alone settling long overdue debts.
darrener Posted March 4, 2019 Posted March 4, 2019 1 minute ago, Chris Custodiet said: The last set of published group accounts (2017) had us making an operating loss of £13.5m with another £1.8m payable in interest. Exceptional items of £15m from loan write offs and sale of assets/players reduced it to a small loss but trade creditors increasing to a whopping £4.8m. The expected operating losses for 2017/18 were of the order of £5-6million and it was hard to see how we could get through to the end of the season before the Madine sale. I haven't seen any predictions of the operating losses for this season. Costs might have been cut a bit more but it was still difficult to see how we could get through without an injection of new cash let alone settling long overdue debts. For God sake give it a rest!!!
Mounts Kipper Posted March 4, 2019 Posted March 4, 2019 13 minutes ago, Traf said: https://www.theboltonnews.co.uk/sport/17474243.shutdown-bolton-close-training-ground-because-of-food-shortage/ Well Ken has done a great job of fucking the club over. You still supporting him?
birch-chorley Posted March 4, 2019 Posted March 4, 2019 5 minutes ago, Chris Custodiet said: The last set of published group accounts (2017) had us making an operating loss of £13.5m with another £1.8m payable in interest. Exceptional items of £15m from loan write offs and sale of assets/players reduced it to a small loss but trade creditors increasing to a whopping £4.8m. The expected operating losses for 2017/18 were of the order of £5-6million and it was hard to see how we could get through to the end of the season before the Madine sale. I haven't seen any predictions of the operating losses for this season. Costs might have been cut a bit more but it was still difficult to see how we could get through without an injection of new cash let alone settling long overdue debts. I stand corrected Curtains it is then
birch-chorley Posted March 4, 2019 Posted March 4, 2019 Just now, Mounts Kipper said: Well Ken has done a great job of fucking the club over. You still supporting him? Ken is at the local food bank, ready to knock up some lobby ahead of tomorrow’s training session joking aside, it’s not looking very good at all Will Saturdays game even go ahead, I can’t recall another league side ever not fulfilling a fixture but if folk haven’t been paid then you can see the doors being shut
Ani Posted March 4, 2019 Posted March 4, 2019 2 minutes ago, Mounts Kipper said: Well Ken has done a great job of fucking the club over. You still supporting him? You still offering no viable alternative ?
Traf Posted March 4, 2019 Posted March 4, 2019 (edited) 5 minutes ago, Mounts Kipper said: Well Ken has done a great job of fucking the club over. You still supporting him? Supporting him? You still think the Trust could have kept us afloat for the last three years? Edited March 4, 2019 by Traf
Ani Posted March 4, 2019 Posted March 4, 2019 Just now, birch-chorley said: Ken is at the local food bank, ready to knock up some lobby ahead of tomorrow’s training session joking aside, it’s not looking very good at all Will Saturdays game even go ahead, I can’t recall another league side ever not fulfilling a fixture but if folk haven’t been paid then you can see the doors being shut Did nt Middlesborough not a play a game cos players were ill ?
burnden Posted March 4, 2019 Posted March 4, 2019 Alan Nixon @reluctantnicko 5m5 minutes ago BOLTON. Little side note. The players pay for their own food. Around £200 a month. In advance. So ...
rochdale white Posted March 4, 2019 Posted March 4, 2019 I’ve been told by someone I trust that the buyer walked away on Saturday, having uncovered another £5 million worth of liabilities whilst doing their due diligence.
birch-chorley Posted March 4, 2019 Posted March 4, 2019 9 minutes ago, Chris Custodiet said: The last set of published group accounts (2017) had us making an operating loss of £13.5m with another £1.8m payable in interest. Exceptional items of £15m from loan write offs and sale of assets/players reduced it to a small loss but trade creditors increasing to a whopping £4.8m. The expected operating losses for 2017/18 were of the order of £5-6million and it was hard to see how we could get through to the end of the season before the Madine sale. I haven't seen any predictions of the operating losses for this season. Costs might have been cut a bit more but it was still difficult to see how we could get through without an injection of new cash let alone settling long overdue debts. On another note then, from looking at the accounts what do you think living within our means would look like from a playing budget perspective? I mean, strip out all the exceptional items, debt, interest etc. Using revenue from the last set of accounts (which I believe was League 1) less our overheads, roughly speaking what’s left for wages / playing budget? Is it possible to compete in League 1 or are the Premier League facilities just to expensive to run so far down the football Pyramid?
onlyoneawalker Posted March 4, 2019 Posted March 4, 2019 If all bets were off on sale the club would surely be in admin by now ...... stuff is still happening it might end up being shit but we’re still in the game it would appear. mounts until the point we have some definition on our future judgement is reserved on ken imo. all this stuff is what happens when businesses hit choppy waters directors shareholders and lenders with security are the priority - staff and facilities aren’t that’s just how it is
Ani Posted March 4, 2019 Posted March 4, 2019 6 minutes ago, rochdale white said: I’ve been told by someone I trust that the buyer walked away on Saturday, having uncovered another £5 million worth of liabilities whilst doing their due diligence. I would be very surprised if anyone doing due diligence would disclose details to anyone outside a very small group of people who will have signed NDAs. Not saying not true but would be strange for details to be leaking out. The most worrying thing is that it is clear we wont last long without a takeover.
Ratwhite Posted March 4, 2019 Posted March 4, 2019 1 hour ago, barrycowdrill said: Anyone who thinks admin or even worse liquidation is now maybe the best option and start it all again, wiping away nearly 150Yrs of history, expecting us to rise again like some fucking Phoenix from the flames is a bigger, more clueless cunt than both the current manager and the current owner End of THIS, with fucking bells on. I could take a points deduction and dropping a few leagues a la Rangers, but liquidation means - THE FUCKING END, no more BWFC. Anyone who understands business knows the difference between "administration" and "liquidation"
onlyoneawalker Posted March 4, 2019 Posted March 4, 2019 (edited) Rangers were liquidated right? If we get liquidated we’re talking Stockport County Darlington Halifax tackle Edited March 4, 2019 by onlyoneawalker
Chris Custodiet Posted March 4, 2019 Posted March 4, 2019 4 minutes ago, birch-chorley said: On another note then, from looking at the accounts what do you think living within our means would look like from a playing budget perspective? I mean, strip out all the exceptional items, debt, interest etc. Using revenue from the last set of accounts (which I believe was League 1) less our overheads, roughly speaking what’s left for wages / playing budget? Is it possible to compete in League 1 or are the Premier League facilities just to expensive to run so far down the football Pyramid? Can't answer questions like that without drilling down into all the numbers but in short it needs a generous owner to compete in League1 and an even more generous owner in the Championship. The supposed business plan of Football Ventures (Whites) remains a mystery to me.
burnden Posted March 4, 2019 Posted March 4, 2019 3 minutes ago, onlyoneawalker said: Rangers were liquidated right? https://en.wikipedia.org/wiki/Administration_and_liquidation_of_The_Rangers_Football_Club_plc
Ratwhite Posted March 4, 2019 Posted March 4, 2019 (edited) 6 minutes ago, onlyoneawalker said: Rangers were liquidated right? If we get liquidated we’re talking Stockport County Darlington Halifax tackle Administration Apologies and liquidation Edited March 4, 2019 by Ratwhite
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