It's happening. 

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

Thank fuck

1 minute ago, Casino said:

There we have it, in a fuck off nutshell

There's currently no alternative

FV or bust

So, join whichever queue you fancy

What is stopping FV providing some type of communication ? 

1 minute ago, Ani said:

What is stopping FV providing some type of communication ? 

Presumably because they are still ball's deep in negotiations with Steve Dale?

8 minutes ago, Ani said:

What is stopping FV providing some type of communication ? 

NDA!

1 minute ago, Ros Coe said:

NDA!

Indeed, even Sweaty has said fuck all yet and we know how he likes to get his view across

1 hour ago, Mounts Kipper said:

I am getting to the stage that I’m so sick and tired of FV wouldn’t be that arsed if they dropped out, clearly football not their priority and that for me is all that matters. 

Has the penny not dropped yet that, without PBP's £12m (i.e. Michael James and Tom Morris), we'd have gone belly up over three years ago?

7 minutes ago, Ros Coe said:

NDA!

The NDA is unlikely to stop them saying ‘we are still hoping to complete the deal.’ 

Why aren't quantuma saying who won the hotel bid?

1 minute ago, Duck Egg said:

Why aren't quantuma saying who won the hotel bid?

That's the worry, they had their decision LAST Friday.

Just now, Duck Egg said:

Why aren't quantuma saying who won the hotel bid?

 

Just now, DomRepWanderer said:

That's the worry, they had their decision LAST Friday.

Maybe FV are having last minute doubts ? 

 

Quantuma have played a lot of this process, with their cards close to their chest. I agree communication would be nice, but that hasn't worked very well for the Club administrators. They have set too many time deadlines on things, only for things to slip and thus create more frustration.

Personally, I don't mind them not naming a preferred bidder, I would rather just have an announcement now when it is actually finished. They will be working on it behind the scenes. We just have to wait for it to be official. You would imagine that the lawyers are running through any documents with a fine comb since Wednesdays court hearing, and rightly so given there is a lot at stake.

I can't see there being much longer to wait. The club side sounded practically done, so one would hope they are just finalising the hotel now.

7 minutes ago, Ani said:

The NDA is unlikely to stop them saying ‘we are still hoping to complete the deal.’ 

The fact that they haven't walked away implies that and Appleton's submission to the judge stating an adjournment would not have affected the sale also underlines this.

In answer to your earlier enquiry, Company Secretary (not the typing variety though).

Whilst waiting for any real news here's something to chew on, our esteemed administrator was mentioned in Parliament during the CCFC admin....

Part of the club was put into administration seven months ago. The owners have repeatedly claimed, through solicitors and direct statements, that the company owed rent to the stadium but had no assets. Documentation has now come to light that shows that to be untrue. Since 1 June 1995, this company, now in liquidation, has owned the club’s rights, title, and assets, all its playing staff, its good will, and the right to play in the league. Why did the administrator, Mr Paul Appleton of David Rubin & Partners, fail to discover that? He claims that he spent thousands of hours conducting his investigation. He possesses the full powers of an officer of the court. He is supposed to have ability. He charges more than £300 an hour. Despite protests from bidders, creditors and me, as MP for the local area, he sold the company that was in his charge without finding out what he was selling, thereby ensuring that the owners were the successful bidders. I ask the Minister why those who put companies into administration are able to avoid scrutiny and loss, at the expense of creditors, by choosing their own administrator. Now the appalling error has come to light—let us call it an error—can we ensure that an independent liquidator is appointed to look at the situation in Coventry?

 

https://hansard.parliament.uk/Commons/2013-10-22/debates/13102269000002/CoventryCityFootballClub

 

4 minutes ago, Benny The Ball said:

 

Maybe FV are having last minute doubts ? 

 

Or maybe they’re are trying to re-negotiate the price, if that’s possible 

6 minutes ago, Moon boy said:

Or maybe they’re are trying to re-negotiate the price, if that’s possible 

or just waiting on hotel 

 

7 minutes ago, Duck Egg said:

Why aren't quantuma saying who won the hotel bid?

The injunction would have held up the process for them also to Wednesday's court hearing and as such yesterday would have been the last day for submissions.

Quantuma will then have to evaluate the bids received before determining who their preferred bidder is.

 

It could be that there was genuinely going to be an announcement that FV had made a "game changing" offer and they were going to be announced as both club and hotel owners but the injunction stopped that dead in its track and now Rubin's, Quantuma, and everybody else involved are waiting for the Judges written decision from Wednesday's court hearing which is usually available a week after the court date, to be absolutely certain of what it all means to them and what risks/liabilities they are leaving themselves open to.

I know I would.

2 hours ago, Traf said:

you can do better than her.

its more a consideration of allowing her in my wank-bank.. 

3 hours ago, Chris Custodiet said:

Forget the idea anyone is going to buy us. Closest we came to that was Bassini's £200K with an unfulfilled promise to pay off the debts.

Forget also the idea that Ken Anderson is going to get anything out of it other than the money he put in, which he borrowed from Fildraw/EDT who want their money back.

If anyone does take it on they will have to find £millions to fund a continually loss-making business with a great pile of debt even after much of the debt has  been wiped off during the administration. According to the administrators FV have come up with a figure of £24m (including the debts taken over) but they will not be paying any more than a quid for the shares.

An unattractive proposition is made even worse by the attitude and activities of the local newspaper.

Yes obviously people with £24m to invest give a fuck about a local newspaper. 

22 minutes ago, chrisw99 said:

I ask the Minister why those who put companies into administration are able to avoid scrutiny and loss, at the expense of creditors, by choosing their own administrator. Now the appalling error has come to light—let us call it an error—can we ensure that an independent liquidator is appointed to look at the situation in Coventry?

 

sounds dodgy - you would think it would be a much fairer system if somehow the creditors or an independent body would have a say in the appointment of the administrator - i bet it would reduce the administrator costs too.

3 minutes ago, Flannel Truscott said:

Yes obviously people with £24m to invest give a fuck about a local newspaper. 

The point, I'd suggest, is that people have read lies is a dead good journalist and are influenced by what he wrires

4 minutes ago, Casino said:

The point, I'd suggest, is that people have read lies is a dead good journalist and are influenced by what he wrires

Even thems that know the truth? 

2 hours ago, Ratwhite said:

Update from admin.

"Theres a significant hurdle to overcome, then a major obstacle, & possibly an agreement to be made to overcome a late challenge from a "major creditor" , then hopefully just waiting on the two parties to sign some paperwork before a late development & complication." 

Nearly there, then!

36 minutes ago, Sluffy said:

The fact that they haven't walked away implies that and Appleton's submission to the judge stating an adjournment would not have affected the sale also underlines this.

In answer to your earlier enquiry, Company Secretary (not the typing variety though).

Appleton did not submit that to the judge at all. Bassini's team claimed that is what Appleton told them. They would since they were pushing for an adjournment. Appleton submitted a statement that was not divulged publicly but I assume that it said the opposite. 

I don't know if I'm being naive here, but serious question..... If the worst was to happen and the admins decided to liquidate, is there a 7 day window for someone to step in and buy? 

2 minutes ago, DomRepWanderer said:

I don't know if I'm being naive here, but serious question..... If the worst was to happen and the admins decided to liquidate, is there a 7 day window for someone to step in and buy? 

if there was would 7 days be enough for a takeover this one has taken long enough

 

3 minutes ago, DomRepWanderer said:

I don't know if I'm being naive here, but serious question..... If the worst was to happen and the admins decided to liquidate, is there a 7 day window for someone to step in and buy? 

There would be a period of time whilst liquidators are appointed - wouldn't be 7 days but in reality the admins presumably will indicate "if no solution is found within X days we will be forced to start appointment of liquidators". 
Additionally admins will know now if there is any realistic prospect other than FV.