It's happening. 

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

Thank fuck

22 hours ago, Youri McAnespie said:

Get back on fucking topic for fuck's sake...

Watsmore, where do you think is the roughest council estate in Bolton?

Well I was brought up on top oth the brow,which was a bit grim.Now I would say hall ith wood worst,with jhonny fold a close second.

41 minutes ago, onlyoneawalker said:

I’ve worked for a guy like Ken and I’ve been in distressed businesses. Given what he bought and the circumstances he bought it he gets my respect. I genuinely hope we can move on to purely footballing concerns now and build our reputation back to where it was and get some pride back in that majestic white shirt

Particularly as he is effectively on his own. I have been in businesses where you go and have a good grumble with the CEO over a pint when you have paid the wages each month and it helps relieve the pressure.

21 minutes ago, barrycowdrill said:

Hmmm not sure Birch yep we’re still in a pickle and the incomings are a trickle rather than the PL flood. We’re still no doubt losing money but nowhere near the reported 800k a month from a few years back 

You said a decade a go at least, which I think was clearly wrong 

Are they any better than they were 2 or 3 years ago? Perhaps 

Although Ken seems to allude to the fact that the club still losses money every month and has done during his 3 years here which indicates that the debt must be higher now than it was when he took over. As you will have 3 years of losses on top of the debt he inherited, unless he has covered the losses himself which I doubt. 

Granted outgoings are a lot lower but so is income. We have got rid of the big wages from 3 years ago but then again even if Harvey Price had bought the club £1 I doubt he would have re signed any of those top earners who got us relegated in the first place

Its all a bit Meh for me, I do t think Harvard Business school will be writing a paper on how Ken has gone about his business here 

6 hours ago, freds dad said:

Ken has spoken.

https://www.bwfc.co.uk/news/2019/march/a-note-from-the-chairman/

Cry baby

4 minutes ago, birch-chorley said:

You said a decade a go at least, which I think was clearly wrong 

Are they any better than they were 2 or 3 years ago? Perhaps 

Although Ken seems to allude to the fact that the club still losses money every month and has done during his 3 years here which indicates that the debt must be higher now than it was when he took over. As you will have 3 years of losses on top of the debt he inherited, unless he has covered the losses himself which I doubt. 

Granted outgoings are a lot lower but so is income. We have got rid of the big wages from 3 years ago but then again even if Harvey Price had bought the club £1 I doubt he would have re signed any of those top earners who got us relegated in the first place

Its all a bit Meh for me, I do t think Harvard Business school will be writing a paper on how Ken has gone about his business here 

The losses could be because of debt repayment, they dont necessarily add to debt.

If we start with a debt of £10m, pay off £3m off that, but make a loss of £100k, our debt is now £7.1m, so whilst the P&L shows a loss, the Balance Sheet is in a better position.

 

2 minutes ago, birch-chorley said:

You said a decade a go at least, which I think was clearly wrong 

Are they any better than they were 2 or 3 years ago? Perhaps 

Although Ken seems to allude to the fact that the club still losses money every month and has done during his 3 years here which indicates that the debt must be higher now than it was when he took over. As you will have 3 years of losses on top of the debt he inherited, unless he has covered the losses himself which I doubt. 

Granted outgoings are a lot lower but so is income. We have got rid of the big wages from 3 years ago but then again even if Harvey Price had bought the club £1 I doubt he would have re signed any of those top earners who got us relegated in the first place

Its all a bit Meh for me, I do t think Harvard Business school will be writing a paper on how Ken has gone about his business here 

The only saving grace in all this is the club is now sellable. Obviously ED writing off what he did has changed that landscape but the club is definitely more attractive than it was 3 years ago. 

What part Ken has actually played in that in terms of restructuring debts etc I guess we will never know. 

8 minutes ago, ZiggyStardust said:

The losses could be because of debt repayment, they dont necessarily add to debt.

If we start with a debt of £10m, pay off £3m off that, but make a loss of £100k, our debt is now £7.1m, so whilst the P&L shows a loss, the Balance Sheet is in a better position.

 

True, although I was of the impression all the debt is to the likes of ED and Warburton and hasn’t been repaid 

but then again, it’s all speculation 

On a second read Ken said that the next accounts show a small profit then in the next breath he’s saying that costs exceed income???.......

I am pleased to say that the 2018 accounts will show a small profit, which I understand is the first time this has happened since the 2006 accounts were published.

However, despite all of this good work, the club is still not self-sufficient and costs continue to exceed income, which has made operating the club and hotel extremely difficult. Unfortunately, every month continues to be a financial challenge.

6 minutes ago, boltondiver said:

Cry baby

How is coming out with the facts about recent events and the current situation making Ken a cry baby.  Although i haven't agreed with some of his methods i credit Anderson with keeping the club in business  reducing some of the debt and showing Iles and Bonner up as assisting in the negativity and bad atmosphere surrounding the club with their reporting of rumour  and fantasy. 

General costs exceed general income, but one-off boosts made us profitable ie Madine and concerts 

5 minutes ago, Traf said:

General costs exceed general income, but one-off boosts made us profitable ie Madine and concerts 

Aye, forgot about the £7m for Madine  

Perhaps Harvard will be on the phone after all for that one 

23 minutes ago, waffer cup 07 said:

How is coming out with the facts about recent events and the current situation making Ken a cry baby.  Although i haven't agreed with some of his methods i credit Anderson with keeping the club in business  reducing some of the debt and showing Iles and Bonner up as assisting in the negativity and bad atmosphere surrounding the club with their reporting of rumour  and fantasy. 

I’ve been a supporter, but this shouts out loud that it wasn’t me,? I wasn’t there.

A bit Pathetic

1 hour ago, barrycowdrill said:

Hmmm not sure Birch yep we’re still in a pickle and the incomings are a trickle rather than the PL flood. We’re still no doubt losing money but nowhere near the reported 800k a month from a few years back 

Wasn't it nearer 800k a week

7 minutes ago, boltondiver said:

I’ve been a supporter, but this shouts out loud that it wasn’t me,? I wasn’t there.

A bit Pathetic

The thing is Ken is the only one who knows what's gone on or at least he's the only one who's going to tell us. Iles and Bonner  have just guessed.

Edited March 6, 20197 yr by waffer cup 07

7 minutes ago, boltondiver said:

I’ve been a supporter, but this shouts out loud that it wasn’t me,? I wasn’t there.

A bit Pathetic

Nobody else is going to let him have his say

Lies has published tens of thousands of words on the subject often based on what some big mouth who cleans the bogs is feeding him

Edited March 6, 20197 yr by Casino

9 minutes ago, waffer cup 07 said:

The thing is Ken is the only one who knows what's gone on or at least he's the only one who's going to tell us. Iles and Bonner  have just guessed.

I’m not really bothered either way 

1 hour ago, Traf said:

General costs exceed general income, but one-off boosts made us profitable ie Madine and concerts 

I think you'll find, when we get to see the 2018 accounts, that the net proceeds from the Madine sale just about covered  the operating losses for the year and that it was the  £1million agreed reduction in the Blumarble interest demands that will result in a small reported profit.

I also expect that Ken will have taken consultancy fees at least equivalent to those in 2017 which, on multiple occasions before,  I have said were mainly used in 2017  to pay off Holdsworth and  stave off the threat of foreclosure from Blumarble.

I don't expect our financial results in 2018 to be a lot different to PNE except that they had bigger profits from player sales and an owner with deep pockets who could ensure that bills were paid on time and provide assurance to cover future losses.

P.S. Don't get me started on MPs

 

Edited March 6, 20197 yr by Chris Custodiet

8 hours ago, Chris Custodiet said:

Of course it was obvious that expenditure still exceeds income. Not quite as obvious though is that the small profit Ken refers to will be the result of Ken negotiating a £1million reduction in the SSBWFC/Blumarble interest charges, most of the net proceeds of the Madine sale being swallowed up in last season's operating deficit.

Ken doesn't mention the £472k it cost him to acquire Holdsworth's shares, Holdsworth's £250k p.a. salary, another £250K to pay Holdsworth's expenses, £50K compensation for loss of office plus legal fees and £150K paid to Quantuma to avoid foreclosure in 2017. Why has KA not mentioned these things? NDA possibly. Why has the BN barely mentioned them? Different question.

 

 

If you know it... what'd be the point in an NDA?

2 minutes ago, Tombwfc said:

 

If you know it... what'd be the point in an NDA?

Probably horseshit

Who is the money on as being the most likely buyer?

1 minute ago, boltondiver said:

Probably horseshit

What about the fact we borrowed 5 million but only 4 million was paid to the club

Think that's right but happy to be corrected

8 minutes ago, Tombwfc said:

 

If you know it... what'd be the point in an NDA?

I know it because its all in the public domain but you have to look for it. Ken is likely to have been required as part of the settlement to undertake not to speak about it. He's probably been very unhappy about that but has stuck to it apart from the vague reference today. Have you not noticed the frequent complaints Ken made about Holdsworth before the settlement and how they dried up subsequently?

Edited March 6, 20197 yr by Chris Custodiet

2 minutes ago, Casino said:

Who is the money on as being the most likely buyer?

Basran got to be favourite but if it goes on for a week or more you’ve got to fancy Kenyon nipping in. 

Could it not be a complete dark horse.....

2 minutes ago, Casino said:

What about the fact we borrowed 5 million but only 4 million was paid to the club

Think that's right but happy to be corrected

2 things;

probably right

But, so what? What difference does it make?

Just now, Casino said:

Could it not be a complete dark horse.....

Its possible, Kenyon was a dark horse yesterday.