It's happening. 

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

Thank fuck

Boo Hoo Hansen.

 

1 minute ago, gonzo said:

Boo Hoo Hansen.

 

Tyrone Tears

21 minutes ago, Sluffy said:

Well it's clear that there is two Administrations for a reason, it's just trying to figure out what that reason is.

Must be to protect the position of Anderson and/or James/PBP no doubt.

We've all been assuming it was to protect Anderson's position - but what if it was more about James's/PBP's instead.

Clearly it would have been better for all if there was only one Administrator for everything but next best would if there was a 'friendly' (shall we say) Administrator for the hotel and James/PBP was equally in a position to appoint an Administrator - so why not do so?

Yes he was a Director in FV at the time but they had walked away from a deal for the club pre-Admin and James could always have resigned and had a proxy in his place as a Director/owner, if there were obvious future conflicts of interests arising.

Also what actual position did Anderson actually have to protect?  

On the face of it his secured creditor status did not amount to anything much - James first call with his secured £5.5m seemed to take the entire value of the hotel at market value at the time.  Was he certain he could manipulate some sort of a bidding war to get the price up?

If not then why take on the costs of Administration then?

He did though, so why was that?  He wasn't getting any more from the club Administrator so I guess he was doing it as a spoiler to stop the FV plan of buying the hotel and leverage a potential pay out to go away - which seemed too be exactly what happened at one stage in this sorry saga.

We come back again as to why didn't James/PBP simply prevent this by appointing the Administrator than letting Ken?

Maybe his motive was that if he did and he obtained the hotel for less than the £5.5m secured - then he (PBP) has lost money.

Which would seemed to have been the case under just one Administrator for everything

Maybe the thinking was that Ken's aims of pushing up the value of the hotel beyond the £5.5m were to the advantage of James/PBP as well, and if Anderson took on the Administration costs so much the better.

Perhaps James/PBP wanted from all of this was just simply to get their money back and was on board with FV as one way of doing it with a development of the land and property (being a Director of FV as only cost him £2 so far, plus a few costs I would imagine) and at the same time happy enough for the hotel to be sold to whoever for £5.5m plus (whilst not funding Admin).

Of course just pure speculation on my part but unless someone can shoot it down, then as good as reason as any I suggest?

If Anderson appointed the Hotel Administrators surely their costs fall on Anderson, if he can’t/won’t pay Quantuma then their cost will come from the sale? Therefore reducing MJ’s payout, yes?

5 minutes ago, Moon boy said:

If Anderson appointed the Hotel Administrators surely their costs fall on Anderson, if he can’t/won’t pay Quantuma then their cost will come from the sale? Therefore reducing MJ’s payout, yes?

Their costs come from the sale. But how it is structured depends on the deal. 

 

2 minutes ago, bwfcfan5 said:

Their costs come from the sale. But how it is structured depends on the deal. 

 

If FV have offered circa £6mill for Hotel and MJ gets £5.5mill the £500,000 left would disappear into Quantuma’s trousers leaving KA with SFA, yes or no?

Just now, Moon boy said:

If FV have offered circa £6mill for Hotel and MJ gets £5.5mill the £500,000 left would disappear into Quantuma’s trousers leaving KA with SFA, yes or no?

One assumes that for FV to get the hotel they will effectively convert PBP credit to equity in new business and then offer a cash amount suitable to pay off KA and settle rest of creditors. My suspicion is they've not been able to come up with a suitable figure yet. 

Boohoo supposedly offering £7M will in effect mean £1.5M over and above the PBP loan. 

3 minutes ago, bwfcfan5 said:

One assumes that for FV to get the hotel they will effectively convert PBP credit to equity in new business and then offer a cash amount suitable to pay off KA and settle rest of creditors. My suspicion is they've not been able to come up with a suitable figure yet. 

Boohoo supposedly offering £7M will in effect mean £1.5M over and above the PBP loan. 

Which would be better for KA?

So is that the reason FV won’t match Boo Hoo

23 minutes ago, gonzo said:

Boo Hoo Hansen.

 

Taribo Wept

23 minutes ago, Boo said:

Tyrone Tears

Sob Taylor 

Roy Grieves

10 minutes ago, Moon boy said:

Which would be better for KA?

So is that the reason FV won’t match Boo Hoo

I mean that depends on lots of things. How FV's offer is structured. And how either result impacts on Ken's position in the football club. 

I imagine he'd rather not see his money disappear in liquidation of the club. 

Cryan Giggs

Just now, Steejay said:

Cryan Giggs

Willow Flood-of-tears

Alan Bawl

Neven Sobotic

Teary Henry

Signing yourself up to a £5m loan - that you could only hope to pay off by somehow engineering the sale of a hotel for double it's market value - would be a bit fucking mental wouldn't it?

I'm fairly shocked he hasn't been back on his bugle yet.

1 hour ago, bwfcfan5 said:

Think the article states the friction is between Gordon and James. 

Perhaps Gordon thought James took ED for a ride? Who knows. 

You don't mean to suggest that Iles is inferring that Keir Gordon is engaging in some long-standing feud rather than trying to secure the best interests of his clients?

I don't think that Michael James is in any better position to flush £millions down the khazi than Ken Anderson was but that's what admirers of the 'esteemed' Marc Iles seem to expect.

3 minutes ago, Chris Custodiet said:

You don't mean to suggest that Iles is inferring that Keir Gordon is engaging in some long-standing feud rather than trying to secure the best interests of his clients?

I don't think that Michael James is in any better position to flush £millions down the khazi than Ken Anderson was but that's what admirers of the 'esteemed' Marc Iles seem to expect.

The administrators appointed by Gordon supposedly have run a process to determine the best deal available.

https://www.fourfourtwo.com/features/pink-floyd-laurence-bassini-and-angry-magician-what-hell-going-bolton-wanderers#bF0SVqhTh0ov2WUh.99

Ledley SkriKing

https://www.theboltonnews.co.uk/sport/17848610.laurence-bassini-let-fund-players-sales-bolton/

 

While Bassini carries on like this we are going to make no progress whatsoever. What a nutcase

21 minutes ago, bwfcfan5 said:

The administrators appointed by Gordon supposedly have run a process to determine the best deal available.

So where does this long-running feud, that the Beeno's esteemed journo alludes to, fit in? Who is feuding with whom?

Edited August 20, 20196 yr by Chris Custodiet

13 minutes ago, desperado said:

https://www.theboltonnews.co.uk/sport/17848610.laurence-bassini-let-fund-players-sales-bolton/

 

While Bassini carries on like this we are going to make no progress whatsoever. What a nutcase

Maybe it’s time to say show us the colour of your money 😂😂😂😂

fuck it. sell him the club.

just want something, anything, to actually progress.