It's happening. 

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

Thank fuck

1 minute ago, Mounts Kipper said:

Cutting costs. 

i said i do not know how much he has cut and saying it is a valid question to ask.

I am to blame i suppose for not knowing the numbers, but think am missing your point. 

If you are saying that KA is to blame for not cutting costs enough do you know how much he has saved ? We have let players go and brought others in presumably on less money and he has said he renegotiated a number of deals on significantly better terms but i have not seen anywhere a clear view of what the changes has been,

1 hour ago, Tonge moor green jacket said:

I could well be wrong, but I don't think we have any players now that Ken hasn't agreed a contract with.

Isn't the wonderful Ben Amos one of those from before KA time? - I'd guess he's still pulling a reasonable chunk of salary from us, even though he's been on loan for ages. Hopefully his contract is up soon.....unless he's already gone, and I've missed something

4 minutes ago, Sweep said:

Isn't the wonderful Ben Amos one of those from before KA time? - I'd guess he's still pulling a reasonable chunk of salary from us, even though he's been on loan for ages. Hopefully his contract is up soon.....unless he's already gone, and I've missed something

His contract is up in June

Just now, jmjhb said:

His contract is up in June

thank goodness for that - still one of the most ridiculous signings we made, and contracts offered, considering what unfolded just a few months later

8 minutes ago, Ani said:

i said i do not know how much he has cut and saying it is a valid question to ask.

I am to blame i suppose for not knowing the numbers, but think am missing your point. 

If you are saying that KA is to blame for not cutting costs enough do you know how much he has saved ? We have let players go and brought others in presumably on less money and he has said he renegotiated a number of deals on significantly better terms but i have not seen anywhere a clear view of what the changes has been,

I am saying KA is to blame for not cutting costs, no idea how much he has cut costs but he surely sets his yearly budget based on what revenue we have coming into the business. 

19 minutes ago, Mounts Kipper said:

I am saying KA is to blame for not cutting costs, no idea how much he has cut costs but he surely sets his yearly budget based on what revenue we have coming into the business. 

i agree that as the contracts have done a full cycle he can hardly blame anyone else, that really was my point , does anyone have a view on how on the football side how much costs have been reduced by ?Assume like for like is hard because of bonuses (even if we do not pay them , must account for them)

And income must be equally hard to do a like for like

12 minutes ago, Ani said:

i agree that as the contracts have done a full cycle he can hardly blame anyone else, that really was my point , does anyone have a view on how on the football side how much costs have been reduced by ?Assume like for like is hard because of bonuses (even if we do not pay them , must account for them)

And income must be equally hard to do a like for like

Cannot say for sure on wages but I would think we must have reduced them by a fair percentage since KA came in, regarding income surely thats not a difficult calculation, season tickets, plus media cash and EPL cash, plus pay on day revenue, similar income to previous season would be good place to start.      

John McGinlay has come up with a good idea. ‘Just hand over the keys and walk’.....this is from a man with multiple failed businesses and who owes more than 1 small company money that I know of.

 

Scary thing is fans will be behind him and believe/support all he says.

Going back to the Titanic analogy we are the orchestra squabbling over who played a wrong fuckin note as the ship goes down

 

 

6 minutes ago, royal white said:

John McGinlay has come up with a good idea. ‘Just hand over the keys and walk’.....this is from a man with multiple failed businesses and who owes more than 1 small company money that I know of.

 

Scary thing is fans will be behind him and believe/support all he says.

Yep

Hes got some neck

8 minutes ago, royal white said:

John McGinlay has come up with a good idea. ‘Just hand over the keys and walk’.....this is from a man with multiple failed businesses and who owes more than 1 small company money that I know of.

 

Scary thing is fans will be behind him and believe/support all he says.

A bloke who couldn’t run a pub is giving business advice to a bloke who live in Monaco. 

It’s a shitstorm. 

5 hours ago, Ani said:

OK have seen lots of comments on here and elsewhere about the process we are going through, I have in the days when i had a real job been involved in 4 or 5 takeovers/buy outs all bigger than the Bolton one.

Every single time due diligence has taken longer than expected as every single time issues have come up in the process. In every single one of the deals they still completed. What it required was in one instance a change in the price but in the others it was about putting specific clauses into contracts to clarify things. The draft heads of agreement set about the basis for a deal and due diligence and contract negotiations complete the fine detail. The deals i was involved in were between very large financial organisations which although not perfect had much stricter governance than a football club and things just cropped up such as;

Contracts with suppliers/clients not being specific what happens with a change of ownership

Contracts having punitive clauses for a change of ownership

Contracts not being in place so business being down almost on trust

Contracts having very short shelf lives (or really long shelf lives)

Clarifying liability for actions before hand over. (So if something dodgy comes to light in the future how is it agreed who is liable)

Rolling liabilities - who pays ? (So if players have a bonus for staying up and by some miracle that needs to be paid does it all come form new owners)

Rolling assests - who benefits ? (like above but if income is received for activity before take over that has not been accounted for who gets it)

Inter company deals - When the business is part of a group what contracts exist between the different elements ? (So if Ken has set up a deal with another Ken business how is that treated ?)

 

Every deal something different crops up, all our deals were done with willing and trusted parties and the amount that would crop up that people had just not realised they needed to disclose was incredible. (One company part way through due diligence signed a 12 month sponsorship deal and did not mention it). So if dealing with a Ken I would be happy to spend twice as long on due diligence rather than miss something .

There is also diligence from Ken's negotiating team towards the purchaser. Basically   has the purchaser actually got available funds in place to complete in the agreed timescales.

2 hours ago, enzo gambaro said:

Ben Amos?

Been gone that long, I didn't realise he was still ours!

SJM is to business what sweaty Ken is to goalscoring.

SJM talking to Jim white

Thank fuck I missed that 

New bidder according to Nixon (should you choose to believe him)

BOLTON. Now I didn’t see this coming. But there IS a genuine rival bidder. And they think they can nick in ahead of The Basran Boys. More follows when details available.

 

Scenes.

Uncle Kens got a bidding war going

People seem to get more wound up about McGinlay giving some sound bites to a radio station than the fact we might be unable to fulfill a fixture this weekend.

I certainly won’t be going to Super John for financial or business advice, but I’m much more concerned about what “King Ken” is up to at the moment.

from EFL rules

 

31.1

Any Club failing to fulfil its fixture obligations in respect of any match under the jurisdiction of The League on the appointed date or dates or causing The League to suspend any fixture shall be deemed guilty of misconduct, unless the circumstances giving rise to such failure are outside the control of the Club and could not have been reasonably foreseen or reasonably anticipated and remedied prior to the match. Every Club shall carry out regular and appropriate maintenance and checks to ensure that its safety certificate is not suspended or withdrawn.

3 minutes ago, Mr Grey said:

Tank Top Ken knows what he's doing, fuckers got buyers eating out of his arse cheeks ..... rival bidders, what a fucking week, better than Corrie..... 

There's a thought, Dev and Gail up top 😃

I read that as Dev on top of Gail.

23 minutes ago, Mounts Kipper said:

Cannot say for sure on wages but I would think we must have reduced them by a fair percentage since KA came in, regarding income surely thats not a difficult calculation, season tickets, plus media cash and EPL cash, plus pay on day revenue, similar income to previous season would be good place to start.      

we have been in a different league for each of last 3 seasons so that has an impact, and what about the income form Little Mix, rugby games etc ?

Our income should be up this year, wages will be a funny one, i would imagine players have a clause that they got paid more if we got promoted, there are so many moving parts. The argument about KA has always been he is a necessary evil that we had to put up with as he got the books balanced and all the pain was to get us running clean. All we hear is we do not have enough money. 5 years ago it was because of the crap carried over from premier league. 3 years ago it was the mess from last lot. 

The point is we do not know.

1 hour ago, jmjhb said:

BOLTON. Now I didn’t see this coming. But there IS a genuine rival bidder. And they think they can nick in ahead of The Basran Boys. More follows when details available.

 

Scenes.

Another bluff by KA in a lame bid to strengthen his hand?

Edited March 5, 20197 yr by Burndens Bogs

8 minutes ago, Mr Grey said:

Tank Top Ken knows what he's doing, fuckers got buyers eating out of his arse cheeks ..... rival bidders, what a fucking week, better than Corrie..... 

There's a thought, Dev and Gail up top 😃

He needs to sell. Worry is who he will end up selling to. I suspect it’s now whoever pays the most and can complete quickest. Which could be out of frying pan into fire....but if there is genuine interest at least it offers some hope.

Even if there is a second bidder, then similar processes are going to be needed.

Will we be able to complete fixtures in the meantime?

Plus it's getting close to the wind up date.