Okocha10 Posted July 19, 2019 Posted July 19, 2019 Think some might have just made up about Otzumer & Magennis due to our current situation, wouldn't be surprised if they are to go but nothing is definite yet
Marc505 Posted July 19, 2019 Posted July 19, 2019 5 minutes ago, Okocha10 said: Think some might have just made up about Otzumer & Magennis due to our current situation, wouldn't be surprised if they are to go but nothing is definite yet It's not that Reebok Roar page that's trying to raise 25m who've announced this is it?
Spider Posted July 19, 2019 Posted July 19, 2019 Twitter doesn't lie, nor is it full of goggle-eyed cranks with wet chins.
Okocha10 Posted July 19, 2019 Posted July 19, 2019 5 minutes ago, Marc505 said: It's not that Reebok Roar page that's trying to raise 25m who've announced this is it? More than likely to be one of them idiots
radcliffe white Posted July 19, 2019 Posted July 19, 2019 7 minutes ago, Marc505 said: It's not that Reebok Roar page that's trying to raise 25m who've announced this is it? Usual site it was on, friend who knows a steward who’s uncle works on the ticket office😀
gonzo Posted July 19, 2019 Posted July 19, 2019 Wouldn’t it be easier just to take a season off and come back when it’s all sorted? Like a gap year. We could all go travelling and shag some Bangkok Chick Boys.
Okocha10 Posted July 19, 2019 Posted July 19, 2019 Seen some idiot the other day made a petition to sign Jeff King back...
radcliffe white Posted July 19, 2019 Posted July 19, 2019 1 minute ago, gonzo said: Wouldn’t it be easier just to take a season off and come back when it’s all sorted? Like a gap year. We could all go travelling and shag some Bangkok Chick Boys. Wondered where captain med went
Clarence Carter Posted July 19, 2019 Posted July 19, 2019 5 minutes ago, Okocha10 said: Seen some idiot the other day made a petition to sign Jeff King back... More chance of resigning Jeff Smith.
Eavesy Posted July 19, 2019 Posted July 19, 2019 5 minutes ago, Clarence Carter said: More chance of resigning Jeff Smith. Flying postman
Clarence Carter Posted July 19, 2019 Posted July 19, 2019 6 minutes ago, Eavesy said: Flying postman Rarely delivered during his spell here.
HomerJay Posted July 19, 2019 Posted July 19, 2019 1 hour ago, ZicoKelly said: Magennis was linked with Rangers and Oztumer with Charlton - they'll get a contract somewhere else no problem maybe they were just doing the decent thing and waiting as long as they possibly could for things to be sorted out here in order for them to get fit and ready for the new season that doesnt' look like happening now, so what choice do they have if they want to actually guarantee themselves a game of football next month will they get back payment if they break contract? ie 4 months of wages up the swanny? i honestly dont know the answer to this, due to the footballer creditor bollocks
HomerJay Posted July 19, 2019 Posted July 19, 2019 6 minutes ago, Tommy Banks said: Iles just tweeted hotel owes club 1.2m i wonder what that bill is for? i reckon it will be for fuck all... nothing but creative accounting, hence its being argued.
Zico Posted July 19, 2019 Posted July 19, 2019 Just now, HomerJay said: will they get back payment if they break contract? ie 4 months of wages up the swanny? i honestly dont know the answer to this, due to the footballer creditor bollocks Probably I was of the impression they will get paid all wages owed from when they were under contract Couldn't say for certain though
Chris Custodiet Posted July 19, 2019 Posted July 19, 2019 (edited) 20 minutes ago, Tommy Banks said: Iles just tweeted hotel owes club 1.2m But he hasn't noticed that Club owes the hotel £2.9m. See page 31 of 61. The guys floundering as usual but what can you expect from a geezer, ten years in the job, who still thinks Gordon Hargreaves paid for the Reebok Edited July 19, 2019 by Chris Custodiet
Okocha10 Posted July 19, 2019 Posted July 19, 2019 25 minutes ago, Spider said: The ST could pay that £9.50 Asking a bit much there from ST, jesus christ!
Tombwfc Posted July 19, 2019 Posted July 19, 2019 18 minutes ago, Chris Custodiet said: But he hasn't noticed that Club owes the hotel £2.9m. See page 31 of 61. The guys floundering as usual but what can you expect from a geezer, ten years in the job, who still thinks Gordon Hargreaves paid for the Reebok Beeno, Simple Simon, Gordon Hargreaves, David Conn, Sam Allardyce, Dean Holdsworth. It's just the same shit constantly on loop. Thought it was interesting Gordon Taylor said yesterday something to the effect of that the takeover needed to happen or the club needed to let the remaining players leave. Could be that he's misinformed, but also could be something else keeping Oztumer, Magennis etc. at the club.
Roger_Dubuis Posted July 19, 2019 Posted July 19, 2019 5 hours ago, Mounts Kipper said: I read he chucked in 6 million immediately at Forest then sacked off a raft of managers( paid them off) at least he was trying to get the club successful, then sold club to Greek shipping magnate, I’d take that type of shit club ownership at the moment.😂 For the club to survive, somebody is going to have to get their money out and pay the players wages in the next fortnight. I don't think Football Ventures suggestion of having the wages deferred is good enough.If that's the only offer on the table in a fortnight I think we will be thrown out of the league and liquidated.The League won't put up with an unreliable club cancelling matches because they don't pay their wage bill. IF Fawaz will get his money out and pay the wages then he should be welcomed, even if he has a history of incompetently appointing shit managers.
Guest Posted July 19, 2019 Posted July 19, 2019 1 minute ago, Roger_Dubuis said: For the club to survive, somebody is going to have to get their money out and pay the players wages in the next fortnight. I don't think Football Ventures suggestion of having the wages deferred is good enough.If that's the only offer on the table in a fortnight I think we will be thrown out of the league and liquidated.The League won't put up with an unreliable club cancelling matches because they don't pay their wage bill. IF Fawaz will get his money out and pay the wages then he should be welcomed, even if he has a history of incompetently appointing shit managers. Anyone who will get out £25M immediately would be welcomed. I think the difficulty is that it really is that sort of amount to pay off creditors and fund the football club operation. If Fawaz will do it then great. I somehow suspect that would not be the case and we'd be looking at another set of false promises.
Tommy Banks Posted July 19, 2019 Posted July 19, 2019 It’s not just the debt on its own that’s the problem, it’s the way it’s structured and intertwined. Bet it’s been a real pain to get to the bottom line
Boby Brno Posted July 19, 2019 Posted July 19, 2019 38 minutes ago, Chris Custodiet said: But he hasn't noticed that Club owes the hotel £2.9m. See page 31 of 61. The guys floundering as usual but what can you expect from a geezer, ten years in the job, who still thinks Gordon Hargreaves paid for the Reebok The £2.9 million was the amount when the administrators took control. The £1.2 million is the current amount according to the list of creditors. Why I don’t know. For the record, in the other unpublished report it gives the figure as uncertain.
Tommy Banks Posted July 19, 2019 Posted July 19, 2019 · 1m Bolton. Players officially fuming. Mass walk out next step. More online shortly.
Sluffy Posted July 19, 2019 Posted July 19, 2019 What have we learned today - Hotel Administrators Report Loads of stuff in here so let's start out with a crowd pleaser first then - Ken's not been cooperating with the Administrator - Appendix 1, para 6.1, page 8. Boo, hiss! - Now that's got rid of 90% of the haters, we can settle down and go through this dispassionately and note that indeed PBP/(Michael James) are indeed the First Charge holder (Iles 0, Sluffy 1) and Ken in second place, with no others shown as secured. - Kens charged as I had previously stated was splattered across Burnden Leisure and everything else under their umbrella (surprising what knowledge you can apparently pick up from Google and CH isn't it?), and as such what he gets from the clubs administrator will be offset against his claim against the hotel. - The Administrator has estimated that after the sale there would be some monies left to pay 15p in the £ to them (well 15.33p actually). - This then would show an estimated sale to bring in around £9.5m being James £5.5m, Ken £3.5m (£5m less £1.5m the club Administrator and assuming the other alleged £2.5m he claims as part of his £7.5m charge is not accepted by these Admins in the same way they hadn't with the clubs Admin) and around £350k as 15.33% of the unsecured creditors who total £2.4m) - in which case James would be the major creditor unless nearly all the unsecured creditors (with their gross claims - not the 15p in the £ settlement amount) would have to vote with Ken to have majority say and seeing that the single largest unsecured creditor is BWFC itself for £1.2m and that's now under the clubs Admins control then it is hard to see that happening. The Town Hall is next highest with £675k owing to them (us if you pay your Council Tax to Bolton Council) - The Administrator specifically makes this crucial point - "...the company [the Hotel] is inextricably linked to the football club, the sale of the hotel is highly contingent on the sale of the football club" - App 1, 5.5, page 7. - The Administrator states that there is a hierarchy of what is job is about, the first being to save the business, the second to do the best for the creditors (App 1, 4.1/4.2, p 6.) and seems to say that equates to seeing if he could achieve a CVA first and foremost, if not the a sale comes next. I can only speculate with the clear delay in attempting to market and sell the hotel whose future (and value) is "inextricably linked" to the fate of the club, that the hotel Admin has tried to go down the CVA road first, failed, and now is playing catch up on a sale? Otherwise his actions of not marketing and seeking a buyer much sooner could be majorly prejudicial to the creditors he represents if the value of the hotel to potential purchasers plummet if the club fails to find a buyer (because of the hotel not being in a position to be sold) and has to be liquidated because of it? Anyway, it is how it is and we move on. It is though worth noting that point 1.3 in the Executive Summary (page 3) that they state they believed a CVA was achievable! - It's worth noting also that the Hotel is currently trading but not profitable enough to pay its outstanding creditors (App 1, 4.3, p6), so in no way - and totally contrary to Nixon's public assertions (and I believe Iles more restrained ones) could the hotel fund the football club and keep it solvent from its own trading position. - Finally there's a great deal about the Administrators charges that to be honest I'm not particularly interested in - they are what they are - but it seems from the Executive Summary that he states his fee to be somewhere in excess of £525k (Expenses table, 1.4, page3) The table also shows an anticipated trading loss of £250k, which I presume(?) would be for the hotel during the period of Administration (I'm not absolutely sure though). Hope this helps a bit in understanding some of the stuff the report is saying.
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