It's happening. 

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

Thank fuck

We won't liquidate.

Christ.

4 minutes ago, Spider said:

We won't liquidate.

Christ.

People say that - but its clear the cash has gone. We are struggling to get a game on Saturday. It needs a cash injection to keep running. Its at the point where the takeover needs to happen - or else I can't really see the alternative to liquidation.....

Just now, bwfcfan5 said:

People say that - but its clear the cash has gone. We are struggling to get a game on Saturday. It needs a cash injection to keep running. Its at the point where the takeover needs to happen - or else I can't really see the alternative to liquidation.....

How can it all have gone?   I thought to be a preferred bidder, they had to prove to the EFL they had enough cash to sustain the club for "at least 2 seasons".

Did they get carried away on the bandwagon and lump it all on the away win at Wycombe like the rest of us did?

 

Just now, bwfcfan5 said:

People say that - but its clear the cash has gone. We are struggling to get a game on Saturday. It needs a cash injection to keep running. Its at the point where the takeover needs to happen - or else I can't really see the alternative to liquidation.....

Oh my dear God, has anybody got a tranquilizer gun? 

1 minute ago, Breightmet Boy said:

Oh my dear God, has anybody got a tranquilizer gun? 

He's possibly one of the most pessimistic posters I've come across on this site

1 minute ago, chrisw99 said:

How can it all have gone?   I thought to be a preferred bidder, they had to prove to the EFL they had enough cash to sustain the club for "at least 2 seasons".

Did they get carried away on the bandwagon and lump it all on the away win at Wycombe like the rest of us did?

 

Whatever cash FV do or don't have isn't relevant. The point of them taking over is to inject that cash to save the business. But if that can't happen then the cash isn't injected....

2 minutes ago, Breightmet Boy said:

Oh my dear God, has anybody got a tranquilizer gun? 

There is no point burying our heads. I don't think we'll be liquidated but it is a possibility - and I don't see any way to prevent it should FV not complete. Which given they've sunk money in already I assume they will. But still - as every day passes it remains a threat.

 

Just now, dave2980 said:

He's possibly one of the most pessimistic posters I've come across on this site

He's gonna give himself a heart attack and bald head.   He's a bag of bloody nerves..

3 minutes ago, bwfcfan5 said:

So potentially some of his claim would be bumped down the queue....assuming its same on club side....

I doubt it will make much odds.

EDT will have first dibs having fixed charges on all the property, then Warburton with his charge on the land, the preferential creditors, being staff up to £800, (HMRC aren't preferential these days - my mistake) then secured creditors with floating charges, which is Anderson - then unsecured.

Hopefully it won't come to that though.

Just now, bwfcfan5 said:

There is no point burying our heads. I don't think we'll be liquidated but it is a possibility - and I don't see any way to prevent it should FV not complete. Which given they've sunk money in already I assume they will. But still - as every day passes it remains a threat.

 

So blurring out negative presumptions is the answer is it?  Calm down ffs

13 minutes ago, bwfcfan5 said:

There is no point burying our heads. I don't think we'll be liquidated but it is a possibility - and I don't see any way to prevent it should FV not complete. Which given they've sunk money in already I assume they will. But still - as every day passes it remains a threat.

 

How many times.

They aren't buying a second hand car.

They are buying a massively complex and deeply troubled pair of businesses from a narcisstic despot who is almost certainly causing mayhem at every opportunity.

Yes, they could communicate this to the fans but the complexities tied in with the NDA's are your starting point for why they need to keep quiet.

Add in that they probably aren't keen to let Ken know what they're doing until he's properly fucked off, then you have a clearer picture of a group that are really up against it.

All whilst trying to appease thousands of fans, dozens of creditors, bankers and admins.

I'd say that, unfortunately, we're way down the list of people they need to worry about IF THEY ARE TRYING TO SAVE THE CLUB FROM EXTINCTION.

Stop being so fucking needy and precious for fucks sake.

Edited August 8, 20196 yr by Spider

Can we change the title of this thread?  Seems a long way from being correct.

18 minutes ago, Spider said:

Stop being so fucking needy and precious for fucks sake.

best line on this thread!

We will know tomorrow ITK 

https://www.theboltonnews.co.uk/sport/17825380.hull-city-poised-sign-wanderers-striker-josh-magennis/

Just now, Tommy Banks said:

https://www.theboltonnews.co.uk/sport/17825380.hull-city-poised-sign-wanderers-striker-josh-magennis/

500k at a guess???

Pays some bills does that

Should be enough to cover the cost of Saturday's game.

1 minute ago, HomerJay said:

500k at a guess???

Knock a zero off for a player with less than a year left of his contract. 

Can someone explain why/ how KA managed to appoint Quantuma as the administrators for the Hotel ahead of EDT who would surely have used the same as the club

1 hour ago, Sluffy said:

The majority of creditors need to agree (based on the percentage of debt they own.  PBP own £5.5m, Anderson (undetermined)  I suggest about £3.4m, unsecured £2.2m.

The Administrator has in his report stated that he envisages unsecured creditors receiving 15p in the £, and thus valuing the hotel at I presume £5.5m + £3.5m + £200k (15% of £2.2m) = £9.2m.

Seems incredibly high if the original hotel valuation was circa just £5m(?).

So unless a bid comes in at this amount or higher then it's unlikely that all the unsecured would join with KA against PBP's support of the FV bid.

 

I'd suggest Anderson's owed about £7.5m and that he owes it to EDT. I'd also suggest that Anderson's lawyers were not happy with the position adopted by EDT lawyers and Rubins from the outset.

I don't know if you've got round to reading Rubins statement on BL yet but it does leave a lot of unanswered questions after you get past 3.1. That bit's pretty irrelevant really but it does make you wonder how they can get something like that so wrong.

 

I can't fucking believe this now.

1 minute ago, burnden said:

 

Tell me that’s a joke / hoax?!

It’s a fucking circus