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Latest statement from the ST

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31 Re: Latest statement from the ST on Fri Nov 04 2016, 13:43

gloswhite

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Youri Djorkaeff
Youri Djorkaeff
ST the Fonz ? Hardly. 
Mind you the programme has been discredited now, since the Fonz, during a story, and whilst skiing,  jumped over a shark. The term 'jump the shark' now indicates that things were good, but are now deteriorating rapidly. (so maybe you're right  Very Happy )

32 Re: Latest statement from the ST on Fri Nov 04 2016, 14:26

boltonbonce

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Nat Lofthouse
Nat Lofthouse
I'm saying nothing. Some people take the internet very seriously.

33 Re: Latest statement from the ST on Fri Nov 04 2016, 14:32

King Bill

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David Lee
David Lee
Although thought of as cool and happening at the time, The Fonz in later years was portrayed as a bit of a 'buffoon', so yes bb's analogy is correct. And in the words of the great man.........
Heaaaaa !

Although, Bolton folk pronouncing it can drop the H, to be grammatically correct.

Like bb, I have nothing more to add about the ST.

34 Re: Latest statement from the ST on Fri Nov 04 2016, 14:35

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Brucie could have played The Fonz.

Imagine it Bill. Go on,imagine it. Very Happy

35 Re: Latest statement from the ST on Fri Nov 04 2016, 14:48

Bread2.0

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Andy Walker
Andy Walker
boltonbonce wrote:I'm saying nothing. Some people take the internet very seriously.

My new kitchen's ace.

Did I mention that?

36 Re: Latest statement from the ST on Fri Nov 04 2016, 15:27

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Bread2.0 wrote:
boltonbonce wrote:I'm saying nothing. Some people take the internet very seriously.

My new kitchen's ace.

Did I mention that?
You did. You obviously know the right people. :like:

37 Re: Latest statement from the ST on Fri Nov 04 2016, 15:36

King Bill

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David Lee
David Lee
boltonbonce wrote:Brucie could have played The Fonz.

Imagine it Bill. Go on,imagine it. Very Happy
Oh yes. 

That would take buffoonery to a whole new level.

38 Re: Latest statement from the ST on Fri Nov 04 2016, 15:42

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Band of Brucies was a classic. He'll never top it. Sorry,I'm off topic.

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39 Re: Latest statement from the ST on Fri Nov 04 2016, 15:52

King Bill

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David Lee
David Lee
Epic stuff. Was that the film where every soldier had to carry a teasmaid in their kit bag ?

40 Re: Latest statement from the ST on Fri Nov 04 2016, 15:56

Bread2.0

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Andy Walker
Andy Walker
Please stop encouraging him.....

It'll be pandas next.

41 Re: Latest statement from the ST on Fri Nov 04 2016, 16:02

boltonbonce

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Nat Lofthouse
Nat Lofthouse
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42 Re: Latest statement from the ST on Fri Nov 04 2016, 18:12

Natasha Whittam

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Nat Lofthouse
Nat Lofthouse
Bumchumary is taking over again.

43 Re: Latest statement from the ST on Fri Nov 04 2016, 18:14

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Shut up,or I'll slap your face with my dick. Cool

44 Re: Latest statement from the ST on Fri Nov 04 2016, 18:22

gloswhite

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Youri Djorkaeff
Youri Djorkaeff
Not a lot you can say to that, is there ?  Very Happy

45 Re: Latest statement from the ST on Fri Nov 04 2016, 18:35

Natasha Whittam

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Nat Lofthouse
Nat Lofthouse
boltonbonce wrote:Shut up,or I'll slap your face with my dick. Cool

Please bring a microscope with you.

46 Re: Latest statement from the ST on Fri Nov 04 2016, 18:36

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Natasha Whittam wrote:
boltonbonce wrote:Shut up,or I'll slap your face with my dick. Cool

Please bring a microscope with you.
I've no interest in your brain.

47 Re: Latest statement from the ST on Fri Nov 04 2016, 18:37

Bread2.0

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Andy Walker
Andy Walker
That dick comment is quite possibly the best one-liner I have ever read on Nuts.

In fact, sod that.....on the entire internet.

Well said, that man.

48 Re: Latest statement from the ST on Fri Nov 04 2016, 18:39

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Bread2.0 wrote:That dick comment is quite possibly the best one-liner I have ever read on Nuts.

In fact, sod that.....on the entire internet.

Well said, that man.
I pinched it from Richard Pryor. Very Happy

49 Re: Latest statement from the ST on Sun Nov 06 2016, 16:47

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Good luck Poppy.

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50 Re: Latest statement from the ST on Sun Nov 06 2016, 22:16

King Bill

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David Lee
David Lee
I'll second that.

51 Re: Latest statement from the ST on Sun Dec 04 2016, 17:18

boltonbonce

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Nat Lofthouse
Nat Lofthouse
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COMMENT FROM THE BWFCST BOARD – THOUGHTS ON RECENT EVENTS – (03 Dec 2016)  





[size=26]

Threat of Administration, 

The news that surfaced on Monday morning that the club faced administration in December unless Dean Holdsworth allowed Ken Anderson to take control was both surprising and shocking in equal measure. We can only assume that this news represented the official club position, as the report in the Bolton News directly referenced Mr Anderson’s words on the club’s availability of funding.   
In the days following, further stories appeared. Firstly, supporters concerns were raised in the Bolton News that key players could be sold in the January window to fund the club for the rest of the season. Mr Anderson attempted to allay such fears, but did say that keeping hold of key players was dependent upon Dean Holdsworth conceding and handed over sole control of the club to him. Then on Wednesday, there was a delay in paying players after reports surfaced that salaries had not been paid on schedule.
 
Déjà-vu?  

For the second time in 12 months, severe financial problems at the club seem to threaten not only the position that Phil Parkinson and his squad have achieved, but the longer term sustainability of the club as we know it. This last point is important because the debt, while vastly reduced following the previous owners hefty write down as part of the sale to Holdsworth and Anderson, has a significant portion that is "hard" debt. This debt is owed to external parties and heavily secured by floating & fixed charges (debentures) over every present and future asset of the club until it is repaid. 
 
Recap of BWFCST Objectives  

The Supporters' Trust’s key objectives centre on the sustainability of our football club, encouraging financial responsibility and good governance, and being a representative voice for our members. We cannot claim to act as a representative voice for all fans because we recognise that many fans may not hold the same conviction about financial responsibility and sustainability and that this is something that fans have a right to be concerned with or be validly allowed to challenge the club over.   
At our AGM two months ago, and following a survey of our members, the overwhelming consensus was that the Supporters’ Trust should raise specific concerns about the financial position at the club and the ongoing EFL embargo. The survey also overwhelmingly mandated that we should seek assurances that filing of the severely overdue accounts was in hand and that the club had sufficient funds to continue solvently until the end of the season. Further, there was a consensus that these issue be also raised directly with the EFL. 
 
Have Answers Been Given?  

Over recent weeks, we have been continuing to press for these answers. Mr Anderson chose to indirectly address these points in his public Q&A event scheduled for last week. Unfortunately, Mr Anderson subsequently cancelled less than 24 hrs prior to the event and the fans were denied the opportunity to question him in more detail.   
The EFL has agreed to meet with us on 13 December ’16 when we will be able to look for some answers regarding the EFL monitoring and the transfer embargoes. We have been advised that the meeting will be with John Nagle, EFL Head of Policy.  
Current Situation  

The position is still no clearer today despite reports in the press that some form of deal has been done between Holdsworth and Anderson. As we go into this weekend’s FA Cup tie with Sheffield United, it appears that there is still no final agreement from the senior debt holder, Blumarble Capital.   
On Thursday evening we wrote to The FA and the Chairman of the EFL seeking an explanation of how, under the monthly monitoring of the EFL following the March 2016 takeover, the club has run out of
  money? Additionally, we have asked them to investigate allegations that the promised capital contributions from the new owners, included within the EFL approval process, have not been made.   
Whilst it seems that some money has gone in, there are claims that this has only been short term and has been paid back from club resources. If these are proven to be true, it would seem that the oversight and supervision of the club has fallen short of an expected standard and, against the background of a very public admission that the club has run out money, serious questions over internal governance and compliance with company law requirements necessarily arise. 
 
The Devil Is In the Detail  

To try and give some insight, we estimate that the current level of debt stands in the region of £30m, with just over a half of this sum still owing to Eddie Davies. The remainder of this debt is owed to Blumarble, to Prescot Business Park, and to a former club director.   
The Blumarble debt seems to be of a more immediate concern and, based on reports that interest accrues at more than £4,000 a day, we estimate that by the end of June 2017, some £7.4m will be owing. It is our understanding that there is no regular monthly repayment of principal or interest and the whole amount is payable as a final "bullet" payment.   
Reports in the Bolton News estimate annual losses to be running in the region of £10m. To get to the end of the season it could be that the club needs some £12m to £15m liquidity, excluding any income from player sales or any expenditure on new players in January. The accounts for 2015 are still not published, but it is easy to see that the auditors may be requiring some visibility of around £15m to £20m funding to get to the end of 2017 as part of their "forward looking assessment".
   
In Summary  

So, as we stand in this first weekend in December, even if Dean Holdsworth and Ken Anderson manage to settle their differences, there are a number of very important issues that need to be addressed by the club and by the football authorities.
We will continue to press for information & transparency for our members. 

 
[/size]

52 Re: Latest statement from the ST on Sun Dec 04 2016, 18:01

Bread2.0

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Andy Walker
Andy Walker
 "It is our understanding that there is no regular monthly repayment of principal or interest and the whole amount is payable as a final "bullet" payment."


Now that's a concern.


If I've understood that correctly, it means that we're not even paying Blumarble anything back yet but the club's still struggling with cash flow.


And I can't see that ending well......


And what fucking planet was Dean Holdsworth on when he decided that signing up to a deal like that was a good idea in the first place?

53 Re: Latest statement from the ST on Sun Dec 04 2016, 18:13

Sluffy

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Admin
ST playing their usual scare story once again.

How many have there been so far?

Anderson would not want to be obtaining Holdsworth shares and taking on FULL FINANCIAL LIABILITY if he really thought there was a £20 million cash pot to find for the next six months period - nor would he find anybody remotely interested to invest in to the club with him, or buy out all his shares - now would he?

Remind me once again the only people to benefit if the club goes into Administration?

Could it possibly be the same group of people who yet again seemly gleefully trying to throw yet another spanner in to the workings of the club and the current owner?

54 Re: Latest statement from the ST on Sun Dec 04 2016, 19:30

blasterbolton


David Ngog
David Ngog
Sluffy wrote:ST playing their usual scare story once again.

How many have there been so far?

Anderson would not want to be obtaining Holdsworth shares and taking on FULL FINANCIAL LIABILITY if he really thought there was a £20 million cash pot to find for the next six months period - nor would he find anybody remotely interested to invest in to the club with him, or buy out all his shares - now would he?

Remind me once again the only people to benefit if the club goes into Administration?

Could it possibly be the same group of people who yet again seemly gleefully trying to throw yet another spanner in to the workings of the club and the current owner?
Ken is finding it very difficult to sell his 47% which is why he needs Deans shares, have you ever tried to sell half of anything?
As for the ST benefiting from this, I don't see that, they'd find it very difficult to take on the amount of debt left in the club.
And as for the scare mongering, their warnings seem to have been validated by the events of the last few days

55 Re: Latest statement from the ST on Sun Dec 04 2016, 20:20

Sluffy

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Admin
blasterbolton wrote:
Sluffy wrote:ST playing their usual scare story once again.

How many have there been so far?

Anderson would not want to be obtaining Holdsworth shares and taking on FULL FINANCIAL LIABILITY if he really thought there was a £20 million cash pot to find for the next six months period - nor would he find anybody remotely interested to invest in to the club with him, or buy out all his shares - now would he?

Remind me once again the only people to benefit if the club goes into Administration?

Could it possibly be the same group of people who yet again seemly gleefully trying to throw yet another spanner in to the workings of the club and the current owner?
Ken is finding it very difficult to sell his 47% which is why he needs Deans shares, have you ever tried to sell half of anything?
As for the ST benefiting from this, I don't see that, they'd find it very difficult to take on the amount of debt left in the club.
And as for the scare mongering, their warnings seem to have been validated by the events of the last few days

But you only told us a couple of days ago that he was the majority shareholder with 57% ownership of the club (47% + 10%)! -

blasterbolton wrote:There isn't a missing 10%, the share issue more or less stated that if either one of them failed to fulfill their end of the bargain, they would relinquish 10% of share to the other, who would then assume control, although Dean could have questioned this had he been a bit more business savvy

Had you forgotten?

My point still stands though - if as claimed by the ST there is £20 million to find in the next 6 months who would want to find a 100% of that?

No one.

Maybe Anderson does have a wealthy buyer lined up.

So he makes a big fat profit from selling the club on - what is wrong with that?

If he doesn't then he shoulders all the risks as a sole director - he's hardly likely to do that unless he see's a profit in it for him somewhere down the line.

He's hardly likely to have acted now to get rid of Holdsworth unless it is best for him - and as his profit is linked to that of the club, then it has got to be best for the clubs future as well - no?

As for the ST if the club went into Administration, they have the right to pick the Administrators I believe(?) if so put your money on Birch (or his mates) being appointed.

The creditors of the club will have to take a fraction in the pound to what they are owed and the debt (together with the fanciful £8 million or so they claimed to have in pledges to buy the club when they sought - at Birch's behest remember - by becoming the Preferred Bidder from Davies) will then become much more manageable for them.

Those running the ST would rather have a broken shell of a club to own themselves, rather than see Anderson remain in charge in my opinion.

And that is why they have been sticking the knife in since day one.

Can you, or anyone else, honestly say that they've given Anderson any chance whatsoever so far because I don't believe they have ever wanted him there at all.

I wonder why that is?

56 Re: Latest statement from the ST on Sun Dec 04 2016, 20:46

blasterbolton


David Ngog
David Ngog
The 10% that KA has 'grabbed' doesn't show up in any documentation at CH, which is why I said if Dean was a little more business savvy he could challenge this. The fact that Ken is asking Dean to sign over his 47% suggest Ken doesn't have full legal access to them

The ST wouldn't pick the administrator if the club went into administration, the largest creditor would have to do that, my guess is Bluemarble or Eddie Davies. the administrator just have an obligation to speak to ST, but not necessarily do any deal with them, they would still have to do the best deal for the club 

I don't have all the answers you seek, I'm just a member of the ST and receive the same notifications from them as you do, although I'm very Pro Supporters Trust.

I actually think they're doing an excellent job in keeping the pressure on both Ken and Dean, I've met a couple of the board members at their AGM and I have to admit I was quite impressed with the people I spoke to, they wasn't advocating taking over the club to me, they're doing what their members are asking them to do, which is how Supporters Trust works.

57 Re: Latest statement from the ST on Sun Dec 04 2016, 21:02

Guest


Guest
:rofl:

58 Re: Latest statement from the ST on Sun Dec 04 2016, 21:08

Natasha Whittam

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Nat Lofthouse
Nat Lofthouse
Am I missing something? I thought BB made a fair post.



Last edited by Natasha Whittam on Sun Dec 04 2016, 21:13; edited 1 time in total

59 Re: Latest statement from the ST on Sun Dec 04 2016, 21:08

Bread2.0

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Andy Walker
Andy Walker
Now, I'm no maths genius, but......

If Ken had 47% and then he "grabbed" another 10% but Dean owns a further 47%, that means that between them, they own 104% of the shares.

How is this possibru....?

60 Re: Latest statement from the ST on Sun Dec 04 2016, 21:38

Sluffy

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Admin
blasterbolton wrote:The 10% that KA has 'grabbed' doesn't show up in any documentation at CH, which is why I said if Dean was a little more business savvy he could challenge this. The fact that Ken is asking Dean to sign over his 47% suggest Ken doesn't have full legal access to them

The ST wouldn't pick the administrator if the club went into administration, the largest creditor would have to do that, my guess is Bluemarble or Eddie Davies. the administrator just have an obligation to speak to ST, but not necessarily do any deal with them, they would still have to do the best deal for the club 

I don't have all the answers you seek, I'm just a member of the ST and receive the same notifications from them as you do, although I'm very Pro Supporters Trust.

I actually think they're doing an excellent job in keeping the pressure on both Ken and Dean, I've met a couple of the board members at their AGM and I have to admit I was quite impressed with the people I spoke to, they wasn't advocating taking over the club to me, they're doing what their members are asking them to do, which is how Supporters Trust works.

Fair play to you, as clearly you do have some inside knowledge as to what is going on.

You also seem certainly more informed than most other ST members so I suspect you speak on the matter with more authority than you care to admit.

As I've offered several times before now, Nuts would welcome the ST to use our forum to become more communicative with ALL Wanderers fans (both pro and anti Supporters Trust) as its actions may very well be what its members would like to see - but you only need to look around at any other forum, the Bolton News comments and the complete lack of interest it has on its own twitter, Facebook and website - from the vast majority of the Wanderers fans and followers - to see that they are actually in the minority and are antagonising many with their actions.

Doing what their members ask them to do is completely meaningless when this 'authority' is derived from 'questionnaires' they themselves have designed and compiled and distributed to their membership - and are riddled with bias and leading questions - even if that was never their intention.

Only when such questionnaires are compiled by a specialist company in this field will such feedback from them become in any way meaningful.

I fail to see how the ST can change anything with Anderson when they have no power of their own?

Maybe a more gentler approach by them rather than their on-going aggressive stance will get them further with Ken and the club?

They can't do any worse than they have done in seeking any influence at all so far - can they!

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