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Latest statement from the ST

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61 Re: Latest statement from the ST on Sun Dec 04 2016, 21:42

Sluffy

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Admin
Bread2.0 wrote: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....?

BB clarifies that in what he says here -

blasterbolton wrote:The fact that Ken is asking Dean to sign over his 47% suggest Ken doesn't have full legal access to them.

Anderson wouldn't be after 47% of the remaining shares if he already owned 57% already.

62 Re: Latest statement from the ST on Sun Dec 04 2016, 22:27

Cajunboy

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Tony Kelly
Tony Kelly
I thought Ken and Dean both owned 47%, making 94% combined.

The remaining 6% held by the small investors who hung on to their shares when Eddie Davies took over.

63 Re: Latest statement from the ST on Sun Dec 04 2016, 22:58

Sluffy

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Cajunboy wrote:I thought Ken and Dean both owned 47%, making 94% combined.

The remaining 6% held by the small investors who hung on to their shares when Eddie Davies took over.

Yes.

But there was some talk when Anderson took over as main shareholder that Holdsworth's holdings somehow went down and Anderson's went up.

It's been well reported recently by Marc Iles that Holdsworth only had 40% of the shares, so I asked a few pages back in this thread what had happened to the 'missing' 10%.

Blaster seemed to say initially they went to Anderson but clarified himself today by saying that in practice that the 'authority' did but the actual shares didn't.

I guess we won't know for sure who has what until something is finally filed at Companies House.

That's about as clear as I understand things - hope it helps.

64 Re: Latest statement from the ST on Mon Dec 05 2016, 16:43

wanderlust

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Nat Lofthouse
Nat Lofthouse
I agree with BB that the ST serves a useful function in lobbying for answers in these troubled times, but I think they've "set their stall out wrong" as my dad would have put it. The stated objectives are admirable but are those of a well-established large group with a mandate backed by a sizeable proportion of the fan base - which they are not. 
Such a group would have a decent chance of achieving the stated objectives and would have influence if they conducted themselves well.
However, as a small nascent lobby they should be thinking more realistically in terms of achievable goals and far more strategically in terms of how to achieve them and grow to the next stage.
And from what I can see, their funding and member engagement plans are a nonsense so they might wish to have a rethink before they dwindle away to a small group of dedicated enthusiasts. 

Sluffy may come across as a man with a mission but to be fair, the ST have provided a fair bit of the ammo.

65 Re: Latest statement from the ST on Mon Dec 05 2016, 16:45

Cajunboy

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Tony Kelly
Tony Kelly
Sluffy wrote:
Cajunboy wrote:I thought Ken and Dean both owned 47%, making 94% combined.

The remaining 6% held by the small investors who hung on to their shares when Eddie Davies took over.

Yes.

But there was some talk when Anderson took over as main shareholder that Holdsworth's holdings somehow went down and Anderson's went up.

It's been well reported recently by Marc Iles that Holdsworth only had 40% of the shares, so I asked a few pages back in this thread what had happened to the 'missing' 10%.

Blaster seemed to say initially they went to Anderson but clarified himself today by saying that in practice that the 'authority' did but the actual shares didn't.

I guess we won't know for sure who has what until something is finally filed at Companies House.

That's about as clear as I understand things - hope it helps.
Thanks for your reply.

66 Re: Latest statement from the ST on Wed Jan 18 2017, 22:30

boltonbonce

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Nat Lofthouse
Nat Lofthouse
UPDATE FROM THE BOARD.










Response from EFL













 
As many members will already know, we met with the EFL on 13 Dec 2016 at their offices in Preston.
 
At the meeting, the EFL undertook to formally respond to the queries that we had raised with them on behalf of BWFCST members. For this reason, we have specifically held off reporting any details of the meeting. Yesterday, we received the EFL’s response. You can view the full EFL document [You must be registered and logged in to see this link.]
 
The points raised by us regarding filing of accounts, player dealing restrictions and ongoing financial stability were in direct response to the mandate given by our members in the survey carried out in early October 2016. We raised further concerns with the EFL after Mr Anderson referred to the possibility of administration in the article published in the Bolton News on 28 Nov 2016 ([You must be registered and logged in to see this link.]).
 
We thank the EFL for their response and we are aware that the club has already been issued with a copy of the correspondence. Our members are invited to view the EFL response and to forward any comments to us on [You must be registered and logged in to see this link.].uk
 













BWFCST Meeting with Ken Anderson













 
Before the game on Saturday, the BWFCST board met with Ken Anderson. Ken had promised to meet with us in response to our requests to give some clarity on the concerns that we have been registering for some time.
 
We also wanted to discuss how we could develop the relationship between the owners and the Trust, including possibilities of community funding initiatives going forwards.
 
The meeting gave Ken the opportunity to meet the full BWFCST board and for us to assure him that the best interests of BWFC and our members’ involvement with the club are the main focus of all Trust activities.
 
Discussions were detailed and frank and certain aspects are, understandably, subject to confidentiality, at Ken’s request. We will fully respect that confidentiality and the understanding that matters are currently ongoing regarding filing of accounts and future funding of the club.
 
It was agreed that we will schedule regular meetings and we will keep members informed of future developments.
 













Asset of Community Value Nomination













 
Members may be aware that we have recently submitted a nomination to the Bolton Council to register the Macron Stadium as an Asset of Community Value (ACV).
 
We have received support from local MPs, who have contacted the Council to give their endorsement of the application and one of our BWFC legends has emailed his support – see [You must be registered and logged in to see this link.]
 
Further information relating to ACVs is contained on our website and can be viewed [You must be registered and logged in to see this link.]
 

 






67 Re: Latest statement from the ST on Sun Jan 22 2017, 18:06

boltonbonce

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Nat Lofthouse
Nat Lofthouse
BWFCST Meeting with Ken Anderson



Before the Swindon game on 14 January ‘17, the BWFCST board met with the BWFC Chairman, Ken Anderson. As members will know, Mr Anderson had promised to meet with us in response to our requests to give some clarity on the concerns that we have been registering for some time.
 
The discussions were frank and open and were generally in line with the items raised with the club previously ie filing of accounts, availability of short, medium and long term finance and ongoing player trading restrictions. These are the same items that the BWFCST members mandated us to raise with the club after our survey carried out in October last year.
 
Matters Discussed
 
The player trading restrictions have been elaborated on by the EFL in their response that you can read by following the link in our last email to members on 18 January ’17. The response from the EFL is also available on our website, on the [You must be registered and logged in to see this link.] page.
 
The Chairman updated us on the accounts, which have still not yet been filed. He advised that filing is expected by the end of January. He was unable to elaborate further on the specific reasons for the delays in filing, but confirmed that many unforeseen matters since the take-over in February ’16 have had to be addressed over recent months which, in turn, had contributed to the delays in filing.
 
Mr Anderson also confirmed that discussions are still ongoing with both Blumarble and Dean Holdsworth, but could not give any further detail due to the need to maintain commercial confidentialities.
 
Update on the Trust 
 
Mr Anderson asked us about matters relating to the BWFCST, including the constitution of our board, current membership numbers and Trust abilities to raise finance.
 
We brought him up to date with the ongoing development of the board structure, including the recent election process, and confirmed that we now have 2,600 shareholder members and a further 4,000 affiliate members.
 
We advised Mr Anderson that we are developing community funding initiatives, including Pioneer and Community Share options. These options are currently being progressed and we will be providing members with more details, as and when available.
 
Mr Anderson would rather have the BWFCST propose to invest in the club after giving an indication of how much equity we felt we could buy. We do not agree with this method and we confirmed to him that prior to and as part of any future funding provisions, we would require further financial information to be made available by the club. This is all in line with our responsibilities to our members under our FCA regulation.
 
Further Meetings Scheduled
 
We agreed with the Chairman that further regular meetings would be useful and should be scheduled, with the next meeting already arranged for mid-February. Mr Anderson advised that, hopefully, more information could be shared with us at the next meeting.
 
We will give as much detail as possible in future updates,  but please understand that there are, and will continue to be, limitations as to what information the club is in a position to share whilst discussions with various other parties are still ongoing. 


68 Re: Latest statement from the ST on Fri Feb 10 2017, 12:57

Sluffy

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Admin
WANDERERS need between £25-30million to see them through to the end of next season, according to a report issued by the Supporters’ Trust.
Reflecting on the 2014/15 accounts published by the club yesterday, the trust expressed serious concern about the ongoing viability of the business without further funding being found.
“What we have been presented with are official accounts that show the club is losing a lot of money. That comes as no surprise,” read a report issued to members last night.
“However, the lack of sufficient funding to meet the weekly and monthly cash flow shortfalls, the past due debts, reliance on lender forbearance, and the auditor not being able to validate the going concern assumptions of the directors puts us on notice that the issues may be bigger and more urgent than we were led to believe. Many questions still exist. How far do current cash reserves stretch? Do we have sufficient funds to get to the end of the season and to the end of the year? How much do we need to get to the end of next season?
“The shareholders and directors have to resolve these matters quickly but their options may be limited. Normally, a company in this situation would need to secure immediate funding to continue, sell assets, restructure debts, and if this is not possible in the short term, consider alternative options. Given the disclosures in these accounts, additional borrowing would seem unlikely, leaving the choice between the shareholders injecting cash as permanent equity or subordinated and long term loans, or to immediately conclude a sale of the club.”
Auditors Deloitte abstained from making any forecasts about Wanderers’ ability to meet the financial challenges ahead in their statement accompanying the accounts.
While many of the statistics contained within the accounts pertained to the period before the takeover, and are less relevant to the current situation at the Macron, there were aspects of the report which prompted concern from the trust’s financial representatives.
“Deloitte have reserved their right not to express an opinion. They also report being unable to get satisfactory evidence and explanations from the directors.
“The directors hope that they find future funding and their intention not to liquidate or cease trading is the basis for their assessment that the club is a going concern. The auditor states that the shortcomings are “material and pervasive”, in accountant speak, which means the auditor concerns are significant and they cannot agree with the directors.
“Further, the auditor disclosures that they were unable to determine whether adequate accounting records had been kept.”
The Supporters’ Trust has also cast doubt on the potential of a ‘bale out’ given the vast sums of money which is currently being lost.
It is estimated that between £25-30m will be needed to keep the club running at current levels – although promotion to the Championship would be worth around £5m and Ken Anderson has announced plans to reduce salary costs in the playing squad with a large number of players out of contract in the summer.
“The trust has the legal permissions and abilities to raise money from members but no trust has faced a problem of the scale of that facing BWFC.
“The larger trust-led rescues at Hearts and Portsmouth, both from administration, required funding of around £5m. BWFC currently appear to need somewhere between £25m and £30m to get to the end of next season.
“The trust has consulted with community institutions and with lenders but we recognise that there would still be a significant shortfall. We will continue to explore all available options for community funding initiatives, but we cannot hide that fact that the sums involved are far beyond those raised in similar situations.
“All options remain under consideration, and as an illustration, 5000 supporters contributing £35 a month for two years would raise just over £4m. 10,000 supporters contributing £50 a month for the next two years would result in £12m being raised. These figures are illustrative and are meant to convey the scale of the current financial situation.
“The aim of the BWFCST will always be to represent our members in having a say in the long-term stability and sustainability of our club. As previously reported to our members, we did meet with Mr Anderson on 14 January 2017. We were informed at that meeting that there was limited information that could be given to us at that time, but that Mr Anderson was hopeful that he would be in a position to give us more detail when we next met. We do have a pre-arranged meeting with Mr Anderson on 14 February and at that meeting will attempt to gain more insight into what are his immediate plans and available options.”

[You must be registered and logged in to see this link.]



I had to laugh at some of the comments left under the article - particularly one by Riggins44 (who some had thought was my alias on the BEN site - it's not) but this one by bwfcste66 was my favourite -

"Since when did people start believing what the ST said anyway?"

...and no, it wasn't me saying it under a fake account name - I don't actually have an account on there.

Anyway £25 - £30 million to get to the end of next season - yeah right.

Let's me not make light of our situation though - if we don't have the money to compete the season no matter how small - say £2.5 to £3 million rather than the scare tactic, headline grabbing figures flung out by the ST - then we still face the same problems and possibly the same ends of Administration and possibly closing down entirely if a deal with our creditors can't be struck.

In reality we will see this season through, lose the bulk of our high earners of the wage bill, and probably have to sell one or both of Beevers and Vela.  

If we don't get promoted we will also probably see a decline in season tickets and match day income.

We have four outstanding loans to pay but it is likely that three won't push for them being Eddie Davies, Brett Warburton and the one to the owners of Middlebrook.  That leaves the BluMarble one which is redeemable in 2018.

It seems likely that our monthly debt will drop from the reported £800k per month to let us say £300k - which if it did would still be a eye watering £3.6 million for the season.

Even if club cost cutting, ST sales and match day income could cover that, there is still the elephant in the room of Holdsworth idiotic BluMarble £5 million loan at a 30% interest rate, that has to be found.

Seems to me at this stage - and assuming no one else is willing to invest or buy in the club - then provision will have to be made to sell some of our assets to cover this.

I don't know what amount people will pay for a hotel or a football ground or whatever else we own - more car park perhaps - but some or all of these may have to be sold.

Maybe the owner of Middlebrook (Mr Prescott of PBP) a big Wanderers fan himself will help out with things to everybody's satisfaction in the deal.

Things are gloomy no doubt but not as fatal as the ST wishes to paint them and the club has assets to survive and pay off debts for at least another year, probably more to.

A bumpy ride ahead and all that but we are still a long way from falling into the hands of the ST wantabe owners just yet.

69 Re: Latest statement from the ST on Fri Feb 10 2017, 13:20

wanderlust

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Nat Lofthouse
Nat Lofthouse
I presume you know who Riggins is? He's up to his neck in dough.

The figures are gloomy but if we hark back to the pre-season it was clear that the majority of high earners are out of contract summer 2017 and we can expect either or a reduction in the wage bill or parity with this season if we get promoted. 

I think promotion is essential and there's a chance we can get back on to a firm financial footing if we can manage it and survive a couple of seasons in the Championship. Otherwise it looks like we'll be slashing and burning the squad and other assets just to keep going which will effectively end any serious promotion challenge for at least a few seasons.

70 Re: Latest statement from the ST on Thu Feb 23 2017, 20:55

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Bolton Council Decision on ACV Application


As BWFCST members will be aware, in December 2016 we made an application to the Bolton Council to have the Macron Stadium listed as an Asset of Community Value (ACV).



We are pleased to confirm that today, Thursday 23 February 2017, Bolton Council have notified us that they have now approved our nomination.



Safeguarding the long term future of the club is the main focus of the BWFCST. The registration of the ACV status of the stadium provides the BWFCST members with an opportunity to influence any future sale of the Macron Stadium by being part of any such process. Having been witness to the sale of club assets leading up to the takeover of the club in March 2016 and the subsequent developments that still see BWFC experiencing ongoing financial stresses, we know all too well the importance of prudent control of assets still owned by the club.



The Macron Stadium now joins Anfield, Old Trafford, Ewood Park, The Valley, St Andrews, Bloomfield Road and Portman Road amongst other football stadia that have an ACV listing. We are also aware of several other clubs that have ACV nominations currently under consideration by their local councils and hope that all these clubs receive the same support and assistance that we have received from Bolton Council.



ACV status also ties in with the general belief that football clubs are of vital importance to their local communities and can be better protected when their supporters play an active role in the running of those football clubs. We are not, by any means, the first football supporters' organisation to pursue this route and we have consulted with other supporters’ trusts and Supporters Direct during the preparation of our application. Our submission to Bolton Council also received backing from local MPs and past players including Gudni Bergsson, John McGinlay, David Lee and Jussi Jaaskelainen and our thanks and appreciation go out to all involved.



This is a positive event in helping to safeguard the future stability and sustainability of our club and in ensuring the use of BWFC assets always has the greater good of our club as the main focus.



Further information about ACV status can be viewed in a Supporters Direct document already on our website or by clicking [You must be registered and logged in to see this link.]

71 Re: Latest statement from the ST on Thu Feb 23 2017, 21:17

Sluffy

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Admin
It all sounds grand but I don't think it really amounts to much.

As far as I understand it, it doesn't stop the ground being sold - merely it has to be advertised publically - nor does it mean the ST can actually buy it - merely they have a right to bid for it.

So the net effect of that to my mind would be if the club needed money urgently, their main asset is now not available to them for a quick sale and the ST would always be several million pounds short of ever buying the stadium with their piddling £25,000 bankroll (2,500 members with £10 joining fee!).

72 Re: Latest statement from the ST on Thu Feb 23 2017, 21:23

boltonbonce

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this image.] Very Happy

73 Re: Latest statement from the ST on Thu Feb 23 2017, 21:33

Sluffy

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Admin
I know that's posted in fun and aimed at me but to my mind it can equally be seen as the behaviour of the ST to Anderson - in the way they've acted towards him right from the start since their Preferred Bidder status was rejected.

The 'championing' of Team Holdsworth against Anderson, the attempt to 'grass him up' to the Football League and now the successful attempt to put a 'hold' over his main asset.

Almost as though they didn't like the man who is keeping the club going singlehandedly so far.

74 Re: Latest statement from the ST on Thu Feb 23 2017, 21:42

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Calm down Sluffy,it's only the internet.  I know you're not really bothered.

But things are looking up between Ken and the ST,no matter what cynical old Breaders says.

I can see them walking hand in hand into the future. Don't crush their romance now.

Mind you,I backed betamax.

75 Re: Latest statement from the ST on Fri Feb 24 2017, 15:07

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Sluffy wrote:It all sounds grand but I don't think it really amounts to much.

As far as I understand it, it doesn't stop the ground being sold - merely it has to be advertised publically - nor does it mean the ST can actually buy it - merely they have a right to bid for it.

So the net effect of that to my mind would be if the club needed money urgently, their main asset is now not available to them for a quick sale and the ST would always be several million pounds short of ever buying the stadium with their piddling £25,000 bankroll (2,500 members with £10 joining fee!).
Couldn't resist calling it 'piddling',could you! Very Happy

76 Re: Latest statement from the ST on Fri Feb 24 2017, 15:29

Sluffy

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Admin
boltonbonce wrote:
Sluffy wrote:It all sounds grand but I don't think it really amounts to much.

As far as I understand it, it doesn't stop the ground being sold - merely it has to be advertised publically - nor does it mean the ST can actually buy it - merely they have a right to bid for it.

So the net effect of that to my mind would be if the club needed money urgently, their main asset is now not available to them for a quick sale and the ST would always be several million pounds short of ever buying the stadium with their piddling £25,000 bankroll (2,500 members with £10 joining fee!).
Couldn't resist calling it 'piddling',could you! Very Happy

Very Happy

I didn't do it on purpose but the word just came to me as I was typing.

God knows the last time I used it or even heard it spoke but it was the right way to describe the ST's financial clout compared to the real cost of being able to buy a £10 million plus stadium.

In all honesty, could anyone say otherwise?



77 Re: Latest statement from the ST on Fri Feb 24 2017, 15:37

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Very Happy

78 Re: Latest statement from the ST on Sat Feb 25 2017, 13:44

Sluffy

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Admin
Three minute Radio Manchester audio clip of an interview with Ian Bridge chairman of the ST.

The bottom line seems to be they will never have the money to buy the ground themselves but hope us fans will.

Seeing that we can't even organise one BWFC forum between ourselves since internet forums began, I can't ever see us raising something like £20 plus million to buy the ground.

Can you?

It all sounds more like a ST, PR stunt to me, with no realistic chance of it ever happening.

Watch them bang on about it for years to come though.



Anyway clip here -

[You must be registered and logged in to see this link.]



79 Re: Latest statement from the ST on Sat Feb 25 2017, 13:52

Natasha Whittam

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Nat Lofthouse
Nat Lofthouse
I raised £8k for my boob job inside 24 hours, and that was without leaving Whittam Towers.

My neighbour paid £4k so he gets a peek every Wednesday during the ad break for Corrie.

80 Re: Latest statement from the ST on Mon Feb 27 2017, 07:17

karlypants

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Nat Lofthouse
Nat Lofthouse
Bolton Wanderers' Supporters' Trust succeeds in getting legal protection for the Macron Stadium at Middlebrook, Horwich

Wanderers’ Macron Stadium home has been granted special protection after Bolton Council approved it as an Asset of Community Value.

The Supporters’ Trust applied in December to have the club’s home ground – and all its associated land, including the car parks – given official recognition.

Several pubs in the Bolton area are already safeguarded by being listed as an ACV, which stops a public amenity being sold to an outside party without the details of the deal being made public.

It means that should club land or the stadium come up for sale, the Supporters’ Trust would have to be notified and given a six-week moratorium to indicate that they wished to bid. After that, the rules of an ACV would allow them four-and-a-half months to raise funds.

The listing is designed to prevent so-called ‘secret sales’ but it does not give preferential treatment. to the trust.

Football governance specialists Supporters’ Direct claim 54 clubs have been separated from the ownership of their football stadia since 1992.

Wanderers sold assets at the start of last year including car park land, offices and their training ground to raise £11million to prevent the club from slipping into administration.

“The Macron Stadium now joins Anfield, Old Trafford, Ewood Park, The Valley, St Andrews, Bloomfield Road and Portman Road amongst other football stadia that have an ACV listing,” said a Bolton Wanderers Football Club Supporters' Trust spokesman.

“We are also aware of several other clubs that have ACV nominations currently under consideration by their local councils and hope that all these clubs receive the same support and assistance that we have received from Bolton Council.

“ACV status also ties in with the general belief that football clubs are of vital importance to their local communities and can be better protected when their supporters play an active role in the running of those football clubs.

“We are not, by any means, the first football supporters’ organisation to pursue this route and we have consulted with other supporters’ trusts and Supporters Direct during the preparation of our application.

“Our submission to Bolton Council also received backing from local MPs and past players including Gudni Bergsson, John McGinlay, David Lee and Jussi Jaaskelainen and our thanks and appreciation go out to all involved.

“This is a positive event in helping to safeguard the future stability and sustainability of our club and in ensuring the use of BWFC assets always has the greater good of our club as the main focus.”

[You must be registered and logged in to see this link.]

81 Re: Latest statement from the ST on Mon Feb 27 2017, 09:11

wanderlust

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Nat Lofthouse
Nat Lofthouse
karlypants wrote:Bolton Wanderers' Supporters' Trust succeeds in getting legal protection for the Macron Stadium at Middlebrook, Horwich

Wanderers’ Macron Stadium home has been granted special protection after Bolton Council approved it as an Asset of Community Value.

The Supporters’ Trust applied in December to have the club’s home ground – and all its associated land, including the car parks – given official recognition.

Several pubs in the Bolton area are already safeguarded by being listed as an ACV, which stops a public amenity being sold to an outside party without the details of the deal being made public.

It means that should club land or the stadium come up for sale, the Supporters’ Trust would have to be notified and given a six-week moratorium to indicate that they wished to bid. After that, the rules of an ACV would allow them four-and-a-half months to raise funds.

The listing is designed to prevent so-called ‘secret sales’ but it does not give preferential treatment. to the trust.

Football governance specialists Supporters’ Direct claim 54 clubs have been separated from the ownership of their football stadia since 1992.

Wanderers sold assets at the start of last year including car park land, offices and their training ground to raise £11million to prevent the club from slipping into administration.

“The Macron Stadium now joins Anfield, Old Trafford, Ewood Park, The Valley, St Andrews, Bloomfield Road and Portman Road amongst other football stadia that have an ACV listing,” said a Bolton Wanderers Football Club Supporters' Trust spokesman.

“We are also aware of several other clubs that have ACV nominations currently under consideration by their local councils and hope that all these clubs receive the same support and assistance that we have received from Bolton Council.

“ACV status also ties in with the general belief that football clubs are of vital importance to their local communities and can be better protected when their supporters play an active role in the running of those football clubs.

“We are not, by any means, the first football supporters’ organisation to pursue this route and we have consulted with other supporters’ trusts and Supporters Direct during the preparation of our application.

“Our submission to Bolton Council also received backing from local MPs and past players including Gudni Bergsson, John McGinlay, David Lee and Jussi Jaaskelainen and our thanks and appreciation go out to all involved.

“This is a positive event in helping to safeguard the future stability and sustainability of our club and in ensuring the use of BWFC assets always has the greater good of our club as the main focus.”

[You must be registered and logged in to see this link.]
This is a good move that helps with transparency - something BWFC hasn't had a great deal of in the past.

82 Re: Latest statement from the ST on Mon Feb 27 2017, 12:10

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Letter Sent to Ken Anderson 22nd February 2017

Members Updated
 
In order to keep our members as informed as possible, [You must be registered and logged in to see this link.] to find a letter that was sent to the Chairman last week. As a result, we are meeting with Mr Anderson on Wednesday this week. We also have a meeting scheduled with Mr Holdsworth tomorrow before the game. We will be using the opportunity of meeting with both co-owners to develop our relationships and to explore further ways of increasing our members voice in our club. We will update again after our meetings.

83 Re: Latest statement from the ST on Sun Mar 19 2017, 20:45

boltonbonce

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Nat Lofthouse
Nat Lofthouse

[size=16][size=16][size=16]Membership and Subscriptions Information
 
We have just passed the first anniversary of the founding of the BWFCST and we thought this would be a good time to provide our members and supporters with a reminder of the key points on membership and also to clarify some of the confusion surrounding subscription renewals. 
 
Firstly though, we would like to thank you all for getting behind the BWFCST in what has and continues to be a very turbulent period for our club.  We have come a long way since that first meeting back in January 2016 but there is still so much to do to achieve our objectives of stability and sustainability for BWFC and also gain a greater voice for the fans in the governance of the club.  We are aware that we have made mistakes as we have tried to develop and grow the organisation.  This is inevitable when starting something from scratch and with no real template for the job. Although Supporters' Trusts are not unique, each club with which they are linked is and we have had a very steep learning curve in a particularly challenging situation.
 
We really do need your continued support of the Trust and we welcome your valuable contributions to enable us to continue the work we do to secure the long term future of our club.  With this in mind, below are some FAQs that should clarify membership and subscription queries that have arisen following the first anniversary.  Can we also apologise to those of you who have yet to receive your member packs. We are working on this now so do please bear with us as we are a very small team of volunteers and we all have full time jobs.
 
 
Q. How do I know if I am a full shareholder member of the Supporters' Trust?
 
If you signed up as a pledgee to join the Trust following the first meeting in January 2016 and subsequently paid a £10 joining fee then you are a full shareholding member of the ST.  Full membership confers the following benefits:
 
- One share in the BWFCST
- Eligibility to stand for election to the ST Board
- The right to vote in Board elections and on other Trust business, for example, on motions raised at the AGM and in surveys of members to determine strategy and policy decisions for the Trust
- Access to shareholder only meetings where ST policy is discussed and developed.
 
 
 
Q.  I signed up as a pledgee when the Trust was established but didn't pay the £10 joining fee. Am I still a member?
 
We would still consider you to be an affiliated member and follower of the ST but you would not have any of the benefits as outlined above and you are not a shareholder in the Trust.
 
 
Q. You recently announced that the £10 annual subscription would now become a voluntary payment.  Can you explain this further and how it affects ST membership status?
 
- We took the decision to give members the option to pay the subscription annually as a recurring payment or to opt out after the initial £10 joining fee had been paid.  We did however make it clear that the Board reserves the right to reinstate the annual fee at any time in the future if the need arises.
 
- Anyone who paid the initial £10 joining fee will always be a full member and shareholder and will have the associated benefits as outlined above irrespective of whether they continue the annual payment or not.
 
- Anyone who to date has not paid the £10 joining fee is not a full member and shareholder but is welcome to become one at any time by making this payment.
 
Q. If I no longer wish to continue to support the Trust financially what do I need to do?
 
Firstly, just to clarify, cancelling your annual recurring payment does not mean your membership will be cancelled as explained in the previous answer. Should you wish to cease financial support for the Trust then all you have to do is cancel the payment instruction with your bank or credit card provider
Please note; We cannot cancel individual payment from our end, you must instigate this process yourself.
 
Q.  I have been charged the recurring £10 fee and now want a refund.  What do I do?
 
If you wish the Trust to reimburse you for the renewal payment taken automatically then please contact us at [You must be registered and logged in to see this link.].  Please do not use the usual BWFCST email address or contact us via Facebook or Twitter as these will not be answered.
 
 
Q.  I am more than happy to continue to support the ST financially or, I would like to join the Trust as a full member/shareholder. What are the options for doing this?
 
 
- If you are already a full member just leave your payment instruction in place and the recurring annual £10 subscription to the Trust will still be made.
 
- If you are paying for the first time you can apply via our website and set up a payment with your bank.  The default for this will be a recurring £10 annual payment unless you choose to opt out of this.
 
Q. How can I join or pay Subscriptions/Donations in cash?
 
You can physically join the Trust or make your donations in cash at the Lottery Window in the club shop at the Macron Stadium, alternatively, you can join the Lifeline and in doing so automatically become a Supporters Trust member free of charge.
 
 
Q. How is the money raised by our subscriptions and donations to be used?   
The funds generated by your donations and subscriptions are used to cover all costs incurred in the administration of the Trust and promoting its aims and objectives. These can range from ongoing fees associated with hosting and running the website and social media to engaging the services of professionals, for example, in the legal and financial sectors to ensure that we are operating in accordance with the rules binding community benefit societies.  All funds and expenditure are fully accounted for and more information is available in the Model Rules document that can be found on the Trust website in the Trust documents section.
"Thanks again to all our members for your continuing support and encouragement, we really do appreciate it."[/size][/size][/size]

84 Re: Latest statement from the ST on Thu Apr 27 2017, 06:32

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Message to BWFCST Members


Following the news of Blumarble taking out a winding-up petition against Sports Shield BWFC, we are currently assessing the implications on Burnden Leisure and the group companies. We will report back to members as soon as we have any solid information about the situation. In the meantime, we are sure that the whole BWFC family will focus their attentions on Sunday's game

85 Re: Latest statement from the ST on Thu May 11 2017, 12:07

boltonbonce

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Nat Lofthouse
Nat Lofthouse
Comment from the BWFCST Board



Following the clarification given by our board members on Radio Manchester, on 1 May 2017, as to the insolvency threat to Sports Shield BWFC Limited, we believe it appropriate to update our members as to the petitions reported in the press yesterday.

The petitions are as follows:

[You must be registered and logged in to see this image.]

[You must be registered and logged in to see this image.]    

Without knowing the extent of the debt claimed in the petitions, it is difficult to comment further as to how these petitions can be managed. What is clear is that HMRC are involved in these petitions and their prior involvement in 2015/6 does not bode well as the club has caused them to once again petition. We have not seen any comment from the club in respect of these petitions.

The BWFC Supporters' Trust remains committed to finding a solution for the club. The last 14 months have seen the club lurch from one crisis to another. The problems surrounding the finances of the club have been masked by the success on the field.

The impact of concerted action by creditors against the club and connected companies should not be underestimated. The timing of the action is not considered to be a coincidence. The work of the current management to carefully manage debts and improve the income stream (by achieving promotion) has alerted creditors to the better prospect of being paid and to pressurise the club for payment of sums claimed to be due.

It is our opinion that the club remains undercapitalised. We have made several proposals to the current management to seek to raise funds in return for an equity stake in the club. Such proposals have been rejected to date on the basis that outside money was not required. Our view is that the people of Bolton, the supporters and the corporate bodies could help overcome the problem of lack of capital and ensure that the club survives as a community club with the Bolton community at its core.


86 Re: Latest statement from the ST on Thu May 11 2017, 14:07

wanderlust

avatar
Nat Lofthouse
Nat Lofthouse
They make a fair point about undercapitalisation, but what can they expect given where we're coming from?

The idea that creditors are piling in as a result of our promotion is also an interesting point. They know we'll get extra income from promotion so it makes sense to get their claim in early before we do something as reckless as spend it on players to make us competitive.

87 Re: Latest statement from the ST on Thu May 11 2017, 15:22

Sluffy

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Admin
Anderson lays into the ST (in a nice polite way).

Sluffy wrote:I was disappointed to read the statement issued by the Supporters' Trust this morning. I received a text message from them at 10.48pm last night asking for my comments. Despite me attempting to contact them at 7:43am this morning, they went ahead and issued it before I had chance to speak with them.
 
I think it is unfair and without foundation to say that the club has 'lurched from one crisis to another.’ l would say that based on where we were on and off the pitch at the end of last season, when no one gave us a chance of surviving, let alone being automatically promoted at our first attempt, all in all it has been a successful year for the club, its players, staff and supporters. 
 
It is true to say that the Supporters Trust have made offers to assist financially but it has always been with various covenants and equity demands. 

As an example, we recently asked if they could assist us in funding some works the manager had requested on one of the pitches at the training ground to bring it up to the stadium standard at a cost of circa £140,000. 

They responded they would give it consideration in return for 10% equity in the club and board representation. This of course was politely declined.
 

They did also say that they did not currently have the funds to assist in any case and would need to petition their members for the funds and approval

[You must be registered and logged in to see this link.]

Extract from his statement - see full details here -

[You must be registered and logged in to see this link.]


The ST are a fucking joke - they want 10% of the club for £140,000 (WHICH THEY HAVEN'T EVEN GOT!!!!) - which values the whole business at just £1.4 million.

They couldn't even wait for Anderson to get back to them before sticking the knife in.

Whos side are they on - certainly not the clubs!

88 Re: Latest statement from the ST on Thu May 11 2017, 15:36

Norpig

avatar
John McGinlay
John McGinlay
I'm beginning to agree with Sluffy on the ST, totally clueless asking for 10% equity for 140K.

The ST don't even have that kind of money and would have to come begging to members like me to raise the cash.

89 Re: Latest statement from the ST on Thu May 11 2017, 15:40

Natasha Whittam

avatar
Nat Lofthouse
Nat Lofthouse
It's a bit like the local chippy going to Alan Sugar and asking for 10% of his empire in return for cleaning his toilet.

90 Re: Latest statement from the ST on Thu May 11 2017, 16:21

Sluffy

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Admin
Norpig wrote:
I'm beginning to agree with Sluffy on the ST, totally clueless asking for 10% equity for 140K.

The ST don't even have that kind of money and would have to come begging to members like me to raise the cash.

Better late than never Piggy.

You're not on your own either mate - a selection of other peoples thoughts below from the ww and tw forums today -


Casino - ww wrote:
ignore em
 
they can get fcuked
 
along with that smurf fcuker on the bn [White Smurf writes for the LoV and a big supporter of the ST - Sluffy]
 
id say suffolk white, too, but i reckon him n smurf are one and the same
 
fcukers, all of em

Biggish Dave - ww wrote:
The ST have become a hinderance to the club. Good idea in theory but a set of jumped up little nobodies. Time for me to relinquish membership I think, they are trying to undermine the club all the time

BWFC_LOVE - ww wrote:The Supporters Trust can fuck right off. Despite their self-righteousness, they don't qualify to have anymore say than me or you, and their views are not representative to me, a season ticket holder for twenty years.

Sweep - ww wrote:I might be wrong, but I've always had the impression that the ST doesn't just want to be a safety net, they have always come across as wanting to be running the show, and at every available opportunity seem to be doing their best to undermine the current regime. It almost smacks of sour grapes......

BWFC_Insane - tw wrote:Ken's hung the supporters trust out to dry there.

Nice. In fact that has cheered me right up. Nice one Ken.

Peter Thompson - tw wrote:It about time all of the BWFC forums got together and put a strong statement out against the ST representing BWFC fans.

The ST are a disgrace, a joke and an embrassement (sic) and I for one am glad that Ken has come out and informed the supporters of what they have been doing & saying behind the scenes. After all of the recent positivity with promotion against all odds, and with Ken doing all he possibly can to help sort the club out financially, for the ST to stick the knife in so soon after promotion is a disgrace and they need to be told that they are a very small orgainisation (sic)  who do not represent the supporters of BWFC and to be honest need to do one & pack in ASAP

boltonboris - tw wrote:So the Supporters trust value the club and assets at £1.4m - Aren't these guys supposed to be business men? Someone call Theo Paphitis to rip 'em a new one, the absolute morons

Dave Sutton's barnet - tw wrote:It's an "offer" so moronically low you imagine them egging each other on to do it, like giggling teenagers.

I get that they don't like Ken. I get that they're set up "for the good of the club". I've seen many clubs taken down by despot owners - Orient the latest. I also know that Bolton supporters are a cynical lot. But by God this lot don't help themselves.

The bloke who writes as Dave Sutton's barnet is the Global Digital Editor of the FourFourTwo magazine (I'm not breaking any confidentiality, he includes the link to him on the tw site).

He was also I believe the editor of the Wanderers fanzine Tripe and Trotters (T n T) - so someone who has been supporting the club for years, who has a brain in his head and knows a bit about football.

When even people as respected as he starts to say such stuff about the muppets we have in charge of our clubs ST - it really is time to listen.

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