Mounts Kipper Posted March 7, 2019 Posted March 7, 2019 its very likely Ken won’t pay the money back to moonshift, they’ll take his shares in return, and am I right in thinking the club will still then owe KA £5 million as a secured lender?
DomRepWanderer Posted March 7, 2019 Posted March 7, 2019 3 minutes ago, Mounts Kipper said: its very likely Ken won’t pay the money back to moonshift, they’ll take his shares in return, and am I right in thinking the club will still then owe KA £5 million as a secured lender? The way I see it Ken loaned the £5m to the club so if he defaults then ED family will get the club and Anderson's 94% so the £5m won't be owed to him.
Sluffy Posted March 7, 2019 Posted March 7, 2019 3 hours ago, Traf said: But he was wrong, wasn't he? It wasn't due on Feb 6th. It may have been. I would imagine that there were some terms in the contract between Davies and Anderson dealing with default of payment. It does seem somewhat coincidental that yesterday was exactly four weeks (28 days) from the 6th February deadline stated. Mr Speakman was indeed a Director of the club - The Bolton Wanderers Football and Athletic Club - to give it its full title - but resigned in November, 2001.
Mounts Kipper Posted March 7, 2019 Posted March 7, 2019 (edited) 15 minutes ago, DomRepWanderer said: The way I see it Ken loaned the £5m to the club so if he defaults then ED family will get the club and Anderson's 94% so the £5m won't be owed to him. Hope that’s true but I’m thinking the shares settles the 5 million he owes moonshift but the 5 million he lent to BWFC makes him secured lender to BWFC and that needs to be paid back to him. Edited March 7, 2019 by Mounts Kipper
Chris Custodiet Posted March 7, 2019 Posted March 7, 2019 45 minutes ago, Mounts Kipper said: Hope that’s true but I’m thinking the shares settles the 5 million he owes moonshift but the 5 million he lent to BWFC makes him secured lender to BWFC and that needs to be paid back to him. For heavens sake Mounts get real.
Mounts Kipper Posted March 7, 2019 Posted March 7, 2019 (edited) 9 minutes ago, Chris Custodiet said: For heavens sake Mounts get real. You have the accountancy back ground can you clarify how this 5 million loaned to BWFC by ken’s company will be resolved if Ken does not pay the moonshift loan back? Edited March 7, 2019 by Mounts Kipper
Ani Posted March 7, 2019 Posted March 7, 2019 8 minutes ago, Mounts Kipper said: You have the accountancy back ground can you clarify how this 5 million loaned to BWFC by ken’s company will be resolved if Ken does not pay the moonshift loan back? The shares have no value. He loses those by defaulting on the loan. He owes ED family £5m and the club they owe again owes him £5m. The two cancel each other out. In theory.
Chris Custodiet Posted March 7, 2019 Posted March 7, 2019 Anyway I''ve been re-reading a bit more of Sam's autobiography. Ruthless businessman Eddie Davies is a qualified management consultant whose turned a tiny business run from a small redundant cinema in Castletown, IOM into a worldwide business worth 300million. He's employing, as CEO, another experienced qualified management consultant, Alan Duckworth, to run the Burnden Leisure group with yet another qualified management consultant, Phil Gartside, as chairman, Harvard MBA Brett Warburton as non-exec director and chartered accountant Simon Marland as company secretary. But none of these folk could cope so they had to turn to Sam, whose never passed an exam in his life, to help them draw up a business plan in 2002 to get a 25-year loan to strengthen the playing squad. Sam wasn't sure how much of the 5-6million was spent. Proper made me splutter on my cocoa it did.
Escobarp Posted March 7, 2019 Posted March 7, 2019 35 minutes ago, Mounts Kipper said: You have the accountancy back ground can you clarify how this 5 million loaned to BWFC by ken’s company will be resolved if Ken does not pay the moonshift loan back? Ken loses all rights. davies family become Ken in simple terms. Ken disappears and is no more so nobody owes ken a penny if the loan is called in.
Casino Posted March 7, 2019 Posted March 7, 2019 My money is on Ken having agreed a pay off and the creditors being in charge of the sale That's moonshift, Brett and james
Burndens Bogs Posted March 7, 2019 Posted March 7, 2019 (edited) 1 hour ago, Casino said: My money is on Ken having agreed a pay off and the creditors being in charge of the sale That's moonshift, Brett and james Agreed, no doubt Ken will want a wedge out of this for " services rendered", so lets get him paid up, fucked off, then we can all crack on. Edited March 8, 2019 by Burndens Bogs
Roger_Dubuis Posted March 8, 2019 Posted March 8, 2019 8 hours ago, Chris Custodiet said: Anyway I''ve been re-reading a bit more of Sam's autobiography. Ruthless businessman Eddie Davies is a qualified management consultant whose turned a tiny business run from a small redundant cinema in Castletown, IOM into a worldwide business worth 300million. He's employing, as CEO, another experienced qualified management consultant, Alan Duckworth, to run the Burnden Leisure group with yet another qualified management consultant, Phil Gartside, as chairman, Harvard MBA Brett Warburton as non-exec director and chartered accountant Simon Marland as company secretary. But none of these folk could cope so they had to turn to Sam, whose never passed an exam in his life, to help them draw up a business plan in 2002 to get a 25-year loan to strengthen the playing squad. Sam wasn't sure how much of the 5-6million was spent. Proper made me splutter on my cocoa it did. Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service.
Spider Posted March 8, 2019 Posted March 8, 2019 42 minutes ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. I must say you're a weapons grade cock end
Chris Custodiet Posted March 8, 2019 Posted March 8, 2019 (edited) 1 hour ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. ED had by then backed the club to the tune of about £30m but that was nowhere near enough for Sam who had got it into his oversized head that he should be competing with Liverpool who spent c.£70m in the year that Sam walked out of his £1.5m p.a. job for another that paid him £3m. You get some idea of what Garty and ED had to contend with when, all those years later, it still hadn't dawned on Sam that taking out finance on football players that you would still be paying when they were in their fifties wasn't the smartest of ideas. Garty had more chance of nailing a blancmange to the ceiling than he had of explaining the basics of business finance to Sam Allardyce. P.S. I inadvertently used the word consultant instead of accountant. I've changed it now but my excuse is my age and a degree of disorientation brought about by reading the considered thoughts of Big Sam.. Edited March 8, 2019 by Chris Custodiet
Kane57 Posted March 8, 2019 Author Posted March 8, 2019 51 minutes ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. Good grief
Chris Custodiet Posted March 8, 2019 Posted March 8, 2019 9 hours ago, Ani said: The shares have no value. He loses those by defaulting on the loan. He owes ED family £5m and the club they owe again owes him £5m. The two cancel each other out. In theory. Except that if ED's trustees can't get the money from the club, they can go after KA. In fact they can go after him first, just like Blumarble did against SSBWFC.
MickyD Posted March 8, 2019 Posted March 8, 2019 1 hour ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. You obviously dislike ED but why? Is it because he didn't dip his hands deep enough?
kent_white Posted March 8, 2019 Posted March 8, 2019 1 hour ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. Edgelord
Mounts Kipper Posted March 8, 2019 Posted March 8, 2019 21 minutes ago, Chris Custodiet said: Except that if ED's trustees can't get the money from the club, they can go after KA. In fact they can go after him first, just like Blumarble did against SSBWFC. Does the 5 million he owes moonshift still stand if moonshift take his shares?
Chris Custodiet Posted March 8, 2019 Posted March 8, 2019 Just now, Mounts Kipper said: Does the 5 million he owes moonshift still stand if moonshift take his shares? Yes
Mounts Kipper Posted March 8, 2019 Posted March 8, 2019 (edited) 17 minutes ago, Chris Custodiet said: Yes If that’s the case Eddies played a blinder. Edited March 8, 2019 by Mounts Kipper
gonzo Posted March 8, 2019 Posted March 8, 2019 1 hour ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. Fuckin Nora
Boby Brno Posted March 8, 2019 Posted March 8, 2019 12 minutes ago, Mounts Kipper said: I’d that’s the case Eddies played a blinder. I really hope your right but as it stands, £5 million pounds is owed to Inner Circle who in turn owe it to Moonshift. I think it’s obvious that Moonshift are concerned enough to get involved in the negotiations.
Ani Posted March 8, 2019 Posted March 8, 2019 1 hour ago, Roger_Dubuis said: Aye.The Eddie Davies financial plan of not backing Allardyce and replacing him with Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman and Neil Lennon worked out fantastic didn't it? That's why you could go to the Parish church and take your choice of empty pews at his memorial service. Not backing Sam as much as he wanted was a good call. Backing and appointing the others was not.
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