It's happening. 

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

Thank fuck

1 minute ago, HomerJay said:

the davies family have less interest in the club that ken could ever have.

if they take over, i dread to think what would happen.

Err they'd sell it would be my guess

Just now, Burndens Bogs said:

Err they'd sell it would be my guess

Would anyone buy it whilst Ken went through the courts challenging the legality of the shares ownership? And over the £5M loan outstanding?

No....

Alan Nixon is alluding to the possibility of somebody purchasing the inner circle debt from Moonshift, as this is in default, the debt purchaser would be able to seize the shares immediately and take ownership for presumably £5M + bits. 

This would prevent a profitable exit for KA

 

Just now, Howardroark said:

Alan Nixon is alluding to the possibility of somebody purchasing the inner circle debt from Moonshift, as this is in default, the debt purchaser would be able to seize the shares immediately and take ownership for presumably £5M + bits. 

This would prevent a profitable exit for KA

 

I like this.

 

It's not happening today.

The players aren't getting paid either.

 

5 minutes ago, bwfcfan5 said:

Would anyone buy it whilst Ken went through the courts challenging the legality of the shares ownership? And over the £5M loan outstanding?

No....

WTF? Calm down, you're getting too excited about your own speculation...

1 minute ago, Howardroark said:

Alan Nixon is alluding to the possibility of somebody purchasing the inner circle debt from Moonshift, as this is in default, the debt purchaser would be able to seize the shares immediately and take ownership for presumably £5M + bits. 

This would prevent a profitable exit for KA

 

The club would still own KA £5M. 

2 hours ago, Chris Custodiet said:

Wishful thinking I'm afraid. He wanted the England job.  Didn't get it and blamed Garty. He had 650,000 shares in Burnden Leisure which became worthless when ED took over.

They were pretty much worthless just before ED took over, which is something that some of those daft enough to have bought shares in the club still don't seem to realise

1 minute ago, bwfcfan5 said:

The club would still own KA £5M. 

Correct, the new owner would still have all the Secured and unsecured creditors to deal with, but simply there is no need to pay £28.2M to acquire the club due to the default.

1 minute ago, Howardroark said:

Correct, the new owner would still have all the Secured and unsecured creditors to deal with, but simply there is no need to pay £28.2M to acquire the club due to the default.

Nobody is paying £28M. That is simply not happening. Nixon is suggesting that Moonshift could take back Inner Circles Burnden Leisure shares and then sell on themselves. We know they can do this as the paperwork is lodged with companies house (assuming no subsequent agreement has superceded it). But the problem with that move will be a legal challenge over the loan and the money owed to KA could mean that the progress of the club sale is held up for months - and moonshift would not want to fund the club in that period....

1 hour ago, Tonge moor green jacket said:

I see the BN reporting that the ibercup thing has been cancelled this summer.

A shame if true, would have been good to pop along.

So it’s been postponed a year because of the club’s situation? Really? Is every other ground in Europe having its pitch relaid over the summer? 

12 minutes ago, Spider said:

It's not happening today.

The players aren't getting paid either.

 

Opinion fact or rumour ? 

12 minutes ago, Sweep said:

They were pretty much worthless just before ED took over, which is something that some of those daft enough to have bought shares in the club still don't seem to realise

They were getting close to worthless, I agree, but the effect of ED's takeover was to remove the hope of a bounce back. It was a vain hope but some have never got over it.

A lot of them still haven't a clue how much Eddie was putting in year after year. It was all shown in the Annual Reports and  Audited Accounts but they never read them and it wasn't really reported in the BN which seemed to have anti-Gartside and anti-Davies bias.

Edited March 8, 20197 yr by Chris Custodiet

10 minutes ago, Steejay said:

WTF? Calm down, you're getting too excited about your own speculation...

It was explained earlier by Ani et al. If ka has defaulted, then I'm confident Ed has ensured that he won't be in a position to come back at the club.

1 minute ago, bwfcfan5 said:

Nobody is paying £28M. That is simply not happening. Nixon is suggesting that Moonshift could take back Inner Circles Burnden Leisure shares and then sell on themselves. We know they can do this as the paperwork is lodged with companies house (assuming no subsequent agreement has superceded it). But the problem with that move will be a legal challenge over the loan and the money owed to KA could mean that the progress of the club sale is held up for months - and moonshift would not want to fund the club in that period....

The cost of ‘resetting’ the club which is to pay off all outstanding creditors and settle charges is £28.9M. That includes Moonshift, PBP, Brett, plus unsecured etc.

Moonshift won’t take control, period. 

A clever PE fund would acquire the business for £5M through buying the Moonshift debt and seizing control. They then arrange a pre-pack administration and settle the unsecured at discount with secured paid in full. 

The point I’m making is that Basran has the ability to obtain the club for £5M and then work with creditors on a staged repayment.

 

how much are the ST bidding?

2 minutes ago, enzo gambaro said:

So it’s been postponed a year because of the club’s situation? Really? Is every other ground in Europe having its pitch relaid over the summer? 

Did wonder, though I guess time may be tight to relocate it.

Perhaps Iles may be able to explain it...

3 minutes ago, HomerJay said:

how much are the ST bidding?

10p and a packet of crisps 

5 minutes ago, Howardroark said:

The cost of ‘resetting’ the club which is to pay off all outstanding creditors and settle charges is £28.9M. That includes Moonshift, PBP, Brett, plus unsecured etc.

Moonshift won’t take control, period. 

A clever PE fund would acquire the business for £5M through buying the Moonshift debt and seizing control. They then arrange a pre-pack administration and settle the unsecured at discount with secured paid in full. 

The point I’m making is that Basran has the ability to obtain the club for £5M and then work with creditors on a staged repayment.

 

Does that mean we lose 12 points for going into administration? 

Just now, Mounts Kipper said:

Does that mean we lose 12 points for going into administration? 

Yes, which is why the delay ultimately. As per league precedent, the takeover will occur when relegation confirmed.

1 minute ago, Mounts Kipper said:

Does that mean we lose 12 points for going into administration? 

Yep - all penalties associated with admin - including points fine and transfer ban for 2 years would apply to a pre-pack....

Alan Nixon‏ @reluctantnicko 5m5 minutes ago

 

 

BOLTON. Word is young players have now been paid. Surreal.

Just now, Howardroark said:

Yes, which is why the delay ultimately. As per league precedent, the takeover will occur when relegation confirmed.

Relegation won't be confirmed before the cut-off this month whereby points deduction apply for the next season. 

Marc Iles‏ @MarcIles 3m3 minutes ago

 

Players have been promised by Ken Anderson that he will pay them by Monday IF a takeover is not sorted. Looks like this is going into extra time. #bwfc

1 minute ago, bwfcfan5 said:

Yep - all penalties associated with admin - including points fine and transfer ban for 2 years would apply to a pre-pack....

Transfer ban would be appealed for mitigating circumstances due to new ownership.