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Ken Anderson - update.

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421 Re: Ken Anderson - update. on Wed Dec 05 2018, 14:11

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:The way things look right now is a major worry for fans, and all Iles is doing is to try to get clarification as to where the club stands, IMO it looks like administration is Anderson's only get out, and he stands to lose any profits he had hoped to gain, it's clear he's fallen into a financial hole which is far too deep to climb out of, if as has been published he wants £25/30m for the club he should understand nobodies going to pay anywhere near that for a broken product.
Don't forget, and some fans do, that's £20 million to pay of Eddie Davies (or descendents) and £5 million for the other two + £5 million profit to get the club debt free.

A buyer could get it for £5 million and find their own money to pay the debts, by refinancing them. However refinancing debts is difficult to do for football clubs such as ours.

However £5 million is owed in January and the other £5 million at the end of the season.Then there wages etc on top.

422 Re: Ken Anderson - update. on Wed Dec 05 2018, 16:39

Sluffy

avatar
Admin
I have seen Marc lles’ articles today in the Bolton News which unfortunately are factually incorrect, and not for the first time, and would respond as follows.
Dean Holdsworth and I did not pay £1 for the club. We paid £1 plus the debt, which was a substantial amount.

Inner Circle Investments Ltd have paid substantially more than £150,000 for the shares In Burnden Leisure Ltd.

As regards off field events having a negative effect on the players, l would point out that his recent player assessment ratings in several match reports doesn’t help when players are rated at 2, 3 or 4. Also to continuously refer to repetitive non-payment of salaries is again factually incorrect. It’s happened once.

For the record, November was the first time the majority of the players have been late in receiving their monthly salaries. However, l accept that the retention bonuses and severance pay on players who have left was paid late this summer and l have previously commented on this, so l see no need to repeat myself.

All the other employees (circa 400) in the businesses were all paid on time in November as they always have been previously.

Once again, there was a reference to administration but in case you do not know players are the only people who as “football creditors” are guaranteed to be paid if that should ever happen. They also have the benefit of being able to go to the PFA for financial assistance. That’s why l personally paid all the other employees first as they are the lowest paid in the group and unlike the players do not have the benefit of knowing that they will always be paid come what may.
That said, l am extremely grateful for the support, assistance and cooperation that we have received from the players in these difficult times and I will always do my best to try and resolve the current cash flow problems and hopefully, avoid repeating any delays in the future in paying salaries.
I also noticed a recent report by Alan Nixon in The Sun claiming that SCC/Heathcote’s were about to issue us with a writ for £350,000. This is total nonsense and at the time of writing no money is overdue to them.
Maybe Marc is right and ‘Enough is Enough’ and l should just follow Ed Davies’ decision and refuse to provide any further personal funding. I know that from the numerous conversations that l had with Ed that he was very disappointed and disillusioned over the constant negativity he received from the media and that eventually he decided enough was enough. Like Ed, l do not enjoy my family and friends having to read and experience the vitriol that is printed about me when all l am trying to do is help get the club through these difficult times at my own considerable personal expense.

I do not want and cannot afford to end up losing substantial amounts of money in football as Ed did and many others like him also have. Most of these are on public record and as far as l can see all they were trying to do was help and keep their respective clubs going. No doubt, with the benefit of hindsight, they would not repeat the same mistakes today and l for my part am happy to learn from their mistakes and not experience them and eventually suffer the same fate. Sometimes it is best not to follow the dream and accept that your first loss is your best loss! As they say be careful what you wish for.

When l first became involved with the club in March 2016 one of the criticisms of the previous board expressed at the first supporters Q & A that l attended was the lack of communication. I have tried to address this through the regular Chairman’s Web notes, the match day programme, press and media interviews and the regular Q and A sessions.

During my time at the club l have always attempted to be as open and transparent as possible. This is not always easy in today’s world with the various legal protections that are in place and frequently used, whether it be in commercial agreements, buying and selling of businesses or contracts of employment etc.

There has been an element of criticism of me recently on the social media and generally speaking I try to ignore it, as the majority of it is from a minority of people who say they are supporters and make numerous outrageous and factually incorrect statements, but in reality have absolutely no knowledge of what’s really going on at the club at any given time.

I can only presume that it’s their way of getting noticed and getting their 15 minutes of fame. I have no problem with criticism as long as it’s accurate, factually correct and truthful. Unfortunately, most of what is alleged is total nonsense. That said l will always attempt to communicate and be open and transparent and will therefore, try to deal with as many of the recent comments truthful or otherwise below.

As regards the people who are calling me a liar in respect my recent comments about potential investors or buyers for the club, l stand by everything l have said and will continue to do my best to achieve this. There is documentary evidence to support my comments that will be made available at the appropriate time.

Unfortunately, there are a number of people out there who claim to have the funds to buy the club, but when it comes to it they are unable to deliver the funds for one reason or another. I can assure you that for every genuine investor there are many time wasters and the process is a long and challenging one as has clearly been seen and documented at numerous other clubs also looking for investment. Indeed, Mike Ashley was quoted this week as having been trying to sell Newcastle since 2017.

Over the last few days, l have met and spoken with the financial and legal representatives of two new interested parties, both of the representatives are well known to me and have been actively involved in a number of other successful club transactions over a number of years. Should these discussions progress l will endeavour to keep you informed at all times.

I will treat the abusive comments about me not attending the match against Wigan last Saturday with the contempt they deserve. It is well known that l live overseas and cannot attend each and every match, but as many of the genuine fans will tell you, l have probably attended 90% of all our home and away games each season since l have been involved.

Unfortunately, by the nature of the business, the running of a football club has many ups and downs both on and off the field.

There have been a number of accusations about the lack of funding being made available to the manager, which l don’t accept, as over the last three seasons we have fully supported the manager to the best of the club’s financial ability and signed over 50 players, even during the embargoes l inherited. These are players that the manager and his recruitment team targeted and were signed. Like other clubs we are not always successful in recruiting all of our targets, but generally speaking we have not missed out on many, but to say the manager has not had the resources and support is very wide of the mark. In League One our players’ budget was in the top 2/3 clubs and even in the Championship it was higher than a number of other clubs last season and this.

I do accept, however, that we are not up there with the ‘big‘ clubs and cannot compete or sign the top players who now command salaries in excess of £1/2 million a season and hope that the various critics on social media will understand this. Indeed, only this week David Sharpe from Wigan outlined the problems now faced by clubs in the Championship and why the Whelan family decided to sell the club.

Since l have been at the club, l have always done my best to try and operate the club within its financial capabilities. This is often made more difficult because of the uncertainty of the club’s cash flow and over the last few months has been extremely difficult for a number of reasons including the international breaks, where the club has little or no income and more importantly the 2,000 or so fewer supporters attending recent home matches. Unfortunately, a number of the people not attending are the ones that are the most critical on social media. The knock on effects of this are horrendous and have been clearly seen in the late payment of the players and management staff salaries last month.

Obviously, l have come in for a great deal of criticism in the press and social media about this. However, a number of comments made are once again factually incorrect. Over the last few months, l have personally funded all the salaries which has cost several million. So, perhaps, all those out there saying l have not put any money into the club will now cease making incorrect statements.
For the record, we receive the second substantial payment from the EFL in early January and obviously, this will go a long way to improving the current cash flow requirements.
I found the recent open letter from the Supporters Trust interesting, but my recent experiences have shown them to huff and puff, but with little or no substance. If they believe they can help and assist the club then please write another open letter clearly outlining how they can do this and what they have to offer and what they expect in return. If it’s another derisory offer for a shareholding and board representation then don’t bother wasting my time. If it’s a serious proposition and realistic, then let’s have an open meeting with all their membership and discuss it in an open forum.

Hopefully, the above has explained as far as possible some of what is happening at the club and we will all continue to join together and get behind the team and overcome the current problems.
In an ideal world, if we can get the results on the pitch and get the 2,000 missing supporters to return then the financial problems off the pitch will improve significantly.
Best wishes,
Ken

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423 Re: Ken Anderson - update. on Wed Dec 05 2018, 16:53

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:I have seen Marc lles’ articles today in the Bolton News which unfortunately are factually incorrect, and not for the first time, and would respond as follows.
Dean Holdsworth and I did not pay £1 for the club. We paid £1 plus the debt, which was a substantial amount.

Inner Circle Investments Ltd have paid substantially more than £150,000 for the shares In Burnden Leisure Ltd.

As regards off field events having a negative effect on the players, l would point out that his recent player assessment ratings  in several match reports doesn’t help when players are rated at 2, 3 or 4. Also to continuously refer to repetitive non-payment of salaries is again factually incorrect. It’s happened once.

For the record, November was the first time the majority of the players have been late in receiving their monthly salaries. However, l accept that the retention bonuses and severance pay on players who have left was paid late this summer and l have previously commented on this, so l see no need to repeat myself.

All the other employees (circa 400) in the businesses were all paid on time in November as they always have been previously.

Once again, there was a reference to administration but in case you do not know players are the only people who as “football creditors” are guaranteed to be paid if that should ever happen. They also have the benefit of being able to go to the PFA for financial assistance. That’s why l personally paid all the other employees first as they are the lowest paid in the group and unlike the players do not have the benefit of knowing that they will always be paid come what may.
That said, l am extremely grateful for the support, assistance and cooperation that we have received from the players in these difficult times and I will always do my best to try and resolve the current cash flow problems and hopefully, avoid repeating any delays in the future in paying salaries.
I also noticed a recent report by Alan Nixon in The Sun claiming that SCC/Heathcote’s were about to issue us with a writ for £350,000. This is total nonsense and at the time of writing no money is overdue to them.
Maybe Marc is right and ‘Enough is Enough’ and l should just follow Ed Davies’ decision and refuse to provide any further personal funding. I know that from the numerous conversations that l had with Ed that he was very disappointed and disillusioned over the constant negativity he received from the media and that eventually he decided enough was enough. Like Ed,  l do not enjoy my family and friends having to read and experience the vitriol that is printed about me when all l am trying to do is help get the club through these difficult times at my own considerable personal expense.

I do not want and cannot afford to end up losing substantial amounts of money in football as Ed did and many others like him also have. Most of these are on public record and as far as l can see all they were trying to do was help and keep their respective clubs going. No doubt, with the benefit of hindsight, they would not repeat the same mistakes today and l for my part am happy to learn from their mistakes and not experience them and eventually suffer the same fate. Sometimes it is best not to follow the dream and accept that your first loss is your best loss! As they say be careful what you wish for.

When l first became involved with the club in March 2016 one of the criticisms of the previous board expressed at the first supporters Q & A  that l attended was the lack of communication. I have tried to address this through the regular Chairman’s Web notes, the match day programme, press and media interviews and the regular Q and A sessions.

During my time at the club l have always attempted to be as open and transparent as possible. This is not always easy in today’s world with the various legal protections that are in place and frequently used, whether it be in commercial agreements, buying and selling of businesses or contracts of employment etc.

There has been an element of criticism of me recently on the social media and generally speaking I try to ignore it, as the majority of it is from a  minority of  people who say they are supporters and make numerous outrageous and factually incorrect statements, but in reality have absolutely no knowledge of what’s really going on at the club at any given time.

I can only presume that it’s their way of getting noticed and getting their 15 minutes of fame. I have no problem with criticism as long as it’s accurate, factually correct and truthful. Unfortunately, most of what is alleged is total nonsense. That said l will always attempt to communicate and be open and transparent and will therefore, try to deal with as many of the recent comments truthful or otherwise below.

As regards the people who are calling me a liar in respect my recent comments about potential investors or buyers for the club, l stand by everything l have said and will continue to do my best to achieve this. There is documentary evidence to support my comments that will be made available at the appropriate time.

Unfortunately, there are a number of people out there who claim to have the funds to buy the club, but when it comes to it they are unable to deliver the funds for one reason or another. I can assure you that for every genuine investor there are many time wasters and the process is a long and challenging one as has clearly been seen and documented at numerous other clubs also looking for investment. Indeed, Mike Ashley was quoted this week as having been trying to sell Newcastle since 2017.

Over the last few days, l have met and spoken with the financial and legal representatives of two new interested parties, both of the representatives are well known to me and have been actively involved in a number of other successful club transactions over a number of years. Should these discussions progress l will endeavour to keep you informed at all times.

I will treat the abusive comments about me not attending the match against Wigan last Saturday with the contempt they deserve. It is well known that l live overseas and cannot attend each and every match, but as many of the genuine fans will tell you, l have probably attended 90% of all our home and away games each season since l have been involved.

Unfortunately, by the nature of the business, the running of a football club has many ups and downs both on and off the field.

There have been a number of accusations about the lack of funding being made available to the manager, which l don’t accept, as over the last three seasons we have fully supported the manager to the best of the club’s financial ability and signed over 50 players, even during the embargoes l inherited. These are players that the manager and his recruitment team targeted and were signed. Like other clubs we are not always successful in recruiting all of our targets, but generally speaking we have not missed out on many, but to say the manager has not had the resources and support is very wide of the mark. In League One our players’ budget was in the top 2/3 clubs and even in the Championship it was higher than a number of other clubs last season and this.

I do accept, however, that we are not up there with the ‘big‘ clubs and cannot compete or sign the top players who now command salaries in excess of £1/2 million a season and hope that the various critics on social media will understand this. Indeed, only this week David Sharpe from Wigan outlined the problems now faced by clubs in the Championship and why the Whelan family decided to sell the club.

Since l have been at the club, l have always done my best to try and operate the club within its financial capabilities. This is often made more difficult because of the uncertainty of the club’s cash flow and over the last few months has been extremely difficult for a number of reasons including the international breaks, where the club has little or no income and more importantly the 2,000 or so fewer supporters attending recent home matches. Unfortunately, a number of the people not attending are the ones that are the most critical on social media. The knock on effects of this are horrendous and have been clearly seen in the late payment of the players and management staff salaries last month.

Obviously, l have come in for a great deal of criticism in the press and social media about this. However, a number of comments made are once again factually incorrect. Over the last few months, l have personally funded all the salaries which has cost several million. So, perhaps, all those out there saying l have not put any money into the club will now cease making incorrect statements.
For the record, we receive the second substantial payment from the EFL in early January and obviously, this will go a long way to improving the current cash flow requirements.
I found the recent open letter from the Supporters Trust interesting, but my recent experiences have shown them to huff and puff, but with little or no substance. If they believe they can help and assist the club then please write another open letter clearly outlining how they can do this and what they have to offer and what they expect in return. If it’s another derisory offer for a shareholding and board representation then don’t bother wasting my time. If it’s a serious proposition and realistic, then let’s have an open meeting with all their membership and discuss it in an open forum.  

Hopefully, the above has explained as far as possible some of what is happening at the club and we will all continue to join together and get behind the team and overcome the current problems.
In an ideal world, if we can get the results on the pitch and get the 2,000 missing supporters to return then the financial problems off the pitch will improve significantly.
Best wishes,
Ken

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Another good response from Ken, I have to say

424 Re: Ken Anderson - update. on Wed Dec 05 2018, 16:57

Norpig

avatar
Nat Lofthouse
Nat Lofthouse
Does Ken not understand why 2000 fans don't come now? Nice to blame them for the late payments as well i see  Rolling Eyes

425 Re: Ken Anderson - update. on Wed Dec 05 2018, 17:23

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:Does Ken not understand why 2000 fans don't come now? Nice to blame them for the late payments as well i see  Rolling Eyes
It's not blaming them as such as pointing out facts. If there's no matches played during the month, there's no income 

If 2000 supporters don't turn up for matches then that's 2000 x £30 in lost income each fortnight.

You could say he's there to make up the short fall, he obviously isn't prepared to do that.

Facts of life. I'm afraid and harsh economic reality.



Last edited by Nigelbwfc on Wed Dec 05 2018, 17:44; edited 1 time in total (Reason for editing : Nee information)

426 Re: Ken Anderson - update. on Wed Dec 05 2018, 17:45

Hipster_Nebula

avatar
Nat Lofthouse
Nat Lofthouse
Christ what a pile of absolute shite. This guy thinks he's Shakespeare's long lost brother.

I bet he uses the term "blue sky thinking" in meetings.

427 Re: Ken Anderson - update. on Wed Dec 05 2018, 17:50

Kane57

avatar
Tony Kelly
Tony Kelly
The desperate ramblings of a man of the edge. Ken's blog is a load of mince too

428 Re: Ken Anderson - update. on Wed Dec 05 2018, 21:06

Hipster_Nebula

avatar
Nat Lofthouse
Nat Lofthouse
Kane57 still displaying insensitive images about roman reigns while the man battles leukaemia. Sick.

429 Re: Ken Anderson - update. on Wed Dec 05 2018, 22:04

Kane57

avatar
Tony Kelly
Tony Kelly
[You must be registered and logged in to see this link.] wrote:Kane57 still displaying insensitive images about roman reigns while the man battles leukaemia . Sick.

I had forgotten that was my photo. Of course I'll change it

430 Re: Ken Anderson - update. on Wed Dec 05 2018, 23:04

BoltonTillIDie

avatar
Nat Lofthouse
Nat Lofthouse
Nats been busy...

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

431 Re: Ken Anderson - update. on Wed Dec 05 2018, 23:39

boltonbonce

avatar
Nat Lofthouse
Nat Lofthouse
Is that a pair of her knickers?

432 Re: Ken Anderson - update. on Thu Dec 06 2018, 00:10

karlypants

avatar
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Is that a pair of her knickers?

It’s part of her knickers. It’s just one cheek! Very Happy

433 Re: Ken Anderson - update. on Thu Dec 06 2018, 01:11

wanderlust

avatar
Nat Lofthouse
Nat Lofthouse
I’m glad Anderson has made such a robust denial of the criticism of him. It tells me he has people monitoring the mood and possibly this very website which is good.

Nonetheless he does say that “for every genuine investor there are a number of (time wasters)” so at least he does accept that genuine investors exist.

434 Re: Ken Anderson - update. on Thu Dec 06 2018, 01:30

observer


Andy Walker
Andy Walker
[You must be registered and logged in to see this link.] wrote:I’m glad Anderson has made such a robust denial of the criticism of him. It tells me he has people monitoring the mood and possibly this very website which is good.

Nonetheless he does say that “for every genuine investor there are a number of (time wasters)” so at least he does accept that genuine investors exist.
Then there is the valuation question Lusty!  Does anyone think they can make money owning the club?  If not, what are the tax advantages of owning the club?  If not that, is there someone who could afford to do it as a hobby (albeit an expensive hobby)?

435 Re: Ken Anderson - update. on Thu Dec 06 2018, 05:33

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I’m glad Anderson has made such a robust denial of the criticism of him. It tells me he has people monitoring the mood and possibly this very website which is good.

Nonetheless he does say that “for every genuine investor there are a number of (time wasters)” so at least he does accept that genuine investors exist.
Then there is the valuation question Lusty!  Does anyone think they can make money owning the club?  If not, what are the tax advantages of owning the club?  If not that, is there someone who could afford to do it as a hobby (albeit an expensive hobby)?
Seems to me, unlike Wigan, there's not a lot of land to sell. 

The price may be £30 million for the club to be debt free, I suppose it's anything from 1 - 5 million if you want to take on the debts..

We left Burnden Park on the idea that this ground would be cheaper to run. It doeddoe seem to have worked out that way.At Burnden Park, late eighties/ early nineties we were turning a small profit on less fans.

Anyone coming in needs to insure themselves against loss of fans. Perhaps a fair outside the ground or another hotel close to London.

Certainly believe without the hotel we'd be in bigger stuck.

436 Re: Ken Anderson - update. on Thu Dec 06 2018, 09:10

Ten Bobsworth


Nicky Hunt
Nicky Hunt
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I’m glad Anderson has made such a robust denial of the criticism of him. It tells me he has people monitoring the mood and possibly this very website which is good.

Nonetheless he does say that “for every genuine investor there are a number of (time wasters)” so at least he does accept that genuine investors exist.
Then there is the valuation question Lusty!  Does anyone think they can make money owning the club?  If not, what are the tax advantages of owning the club?  If not that, is there someone who could afford to do it as a hobby (albeit an expensive hobby)?
Seems to me, unlike Wigan, there's not a lot of land to sell. 

The price may be £30 million for the club to be debt free, I suppose it's anything from 1 - 5 million if you want to take on the debts..

We left Burnden Park on the idea that this ground would be cheaper to run. It doeddoe seem to have worked out that way.At Burnden Park, late eighties/ early nineties we were turning a small profit on less fans.

Anyone coming in needs to insure themselves against loss of fans. Perhaps a fair outside the ground or another hotel close to London.

Certainly believe without the hotel we'd be in bigger stuck.
Outstanding loans at the last balance sheet date were £22m made up of:

PBP                                           5.5
Blumarble/SSBWFC                       4.0
Brett Warburton                           2.5
Fildraw/Eddie Davies                    10.0

Note 21 in the audited accounts says:

'The residual facility of £10m remains due to Fildraw Limited. This sum is only payable should certain payments not be made as agreed following the change in ownership in March 2016.'

Not counting other creditors, the structured debt is unlikely to be much changed except that Blumarble have been paid off mainly, it seems, by further advances from Eddie Davies.

KA has more than good reason to be angry with both the BN and the ST as had ED with the BN whilst he was alive. He generally kept that to himself but I expect that he must have shared some of it with his family. Maybe as well that Marc Iles and the Davies family seemed to be ushered, intentionally or otherwise, well apart at the memorial service.

437 Re: Ken Anderson - update. on Thu Dec 06 2018, 09:37

Growler


Tony Kelly
Tony Kelly
A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January

438 Re: Ken Anderson - update. on Thu Dec 06 2018, 09:46

Ten Bobsworth


Nicky Hunt
Nicky Hunt
[You must be registered and logged in to see this link.] wrote:Christ what a pile of absolute shite. This guy thinks he's Shakespeare's long lost brother.

I bet he uses the term "blue sky thinking" in meetings.
I'll bet you he doesn't

439 Re: Ken Anderson - update. on Thu Dec 06 2018, 11:10

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.

440 Re: Ken Anderson - update. on Thu Dec 06 2018, 11:32

Ten Bobsworth


Nicky Hunt
Nicky Hunt
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.
Why would you think ED's family would get nothing. I would hope and expect that ED had done enough to make sure that they got something back from the £185million he spent on BWFC.

441 Re: Ken Anderson - update. on Thu Dec 06 2018, 13:30

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.
Why would you think ED's family would get nothing. I would hope and expect that ED had done enough to make sure that they got something back from the £185million he spent on BWFC.
Because if there's no money left we have to sell assets. The ground goes to pay bills. Tax man comes first and there'll be very little after they've finished for any other creditors.

442 Re: Ken Anderson - update. on Thu Dec 06 2018, 13:55

Ten Bobsworth


Nicky Hunt
Nicky Hunt
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.
Why would you think ED's family would get nothing. I would hope and expect that ED had done enough to make sure that they got something back from the £185million he spent on BWFC.
Because if there's no money left we have to sell assets. The ground goes to pay bills. Tax man comes first and there'll be very little after they've finished for any other creditors.
It doesn't work like that, Nigel. Secured creditors get paid before the taxman and other creditors. Moonshift Investments Ltd is a secured creditor. You can find the details here:

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443 Re: Ken Anderson - update. on Thu Dec 06 2018, 13:58

Nigelbwfc


David Lee
David Lee
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.
Why would you think ED's family would get nothing. I would hope and expect that ED had done enough to make sure that they got something back from the £185million he spent on BWFC.
Because if there's no money left we have to sell assets. The ground goes to pay bills. Tax man comes first and there'll be very little after they've finished for any other creditors.
It doesn't work like that, Nigel. Secured creditors get paid before the taxman and other creditors. Moonshift Investments Ltd is a secured creditor. You can find the details here:

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Pretty sure that there's been a change in the law. It used to be the taxman got paid last, but now it gets paid first.

444 Re: Ken Anderson - update. on Thu Dec 06 2018, 14:06

Ten Bobsworth


Nicky Hunt
Nicky Hunt
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:A lot of irrelevant, defensive, negative waffle from Ken 
The only words of substance in terms of when and how he will begin to pay the club's financial commitments on time is that there is some substantial Sky TV money due in January
He ain't a philanthropist, and he admits that. The club will pay bills when they have the money in.

He's paid out of his own pocket for admin and hotel staff. Multi millionaire players will have to wait. Seems fair enough.

If he can't get these ' new' buyers to buy the club then perhaps he should go to administration. Not nice on Davies family I know, but, relieve club of the rest of the £20 million debt.
Why would you think ED's family would get nothing. I would hope and expect that ED had done enough to make sure that they got something back from the £185million he spent on BWFC.
Because if there's no money left we have to sell assets. The ground goes to pay bills. Tax man comes first and there'll be very little after they've finished for any other creditors.
It doesn't work like that, Nigel. Secured creditors get paid before the taxman and other creditors. Moonshift Investments Ltd is a secured creditor. You can find the details here:

[You must be registered and logged in to see this link.]
Pretty sure that there's been a change in the law. It used to be the taxman got paid last, but now it gets paid first.
Sorry Nigel. This explains how it works:

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445 Re: Ken Anderson - update. on Thu Dec 06 2018, 14:22

MartinBWFC

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Frank Worthington
Frank Worthington
Ten Bob and Nigel learn how to quote instead of taking up so much space

446 Re: Ken Anderson - update. on Thu Dec 06 2018, 15:00

wanderlust

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Nat Lofthouse
Nat Lofthouse
The valuation of the club and the existing debt are of course important elements of investors considerations, and I suspect that Anderson will want a payoff despite having already repaid himself for any monies he put into the club as bridging loans to cover wages etc and ergo making a net investment of absolutely bugger all. I'd happily be corrected on this if anyone can point to current accounts that show a debt to Anderson personally, but I haven't seen any, so as far as I can see he has used the existing club assets to leverage loans rather than put a single penny of his own money into the club - or at least a pennt that he hasn't subsequently taken back. 

However that's not the point here.

At no stage has Anderson said "i spoke to investors and we couldn't agree a valuation"

He has repeatedly said that the investors cannot prove they have the money to invest and that, apart from being statistically unlikely, stinks like a box of rotting fish heads.

I have also heard privately that he has turned away solid affluent investors who won't meet his payoff demands so IMO he is using "they haven't got the money" as a way of explaining away "they won't give me a fat payoff". Again this may be innacurate but I have yet to see anything that disproves the theory.

I'd just like to know why every investor he allegedly speaks to turns out to be skint - even if they are billionaires and consortia. I suspect I know already.

447 Re: Ken Anderson - update. on Thu Dec 06 2018, 15:31

Sluffy

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Admin
Dear God!

Anderson is a secured creditor of the club - he MUST have put money into it - it's there in black and white ffs!!!

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As for your "theory" of everything else - just laughable and rooted in your bias and prejudice.

448 Re: Ken Anderson - update. on Thu Dec 06 2018, 15:56

DEANO82

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Tony Kelly
Tony Kelly
Players still haven't been paid yet.

449 Re: Ken Anderson - update. on Thu Dec 06 2018, 17:04

karlypants

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Players still haven't been paid yet.

Good. They are all shit anyway!

450 Re: Ken Anderson - update. on Thu Dec 06 2018, 19:13

MartinBWFC

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Frank Worthington
Frank Worthington
BBCRMsport

It's understood The PFA have stepped in to help resolve the Bolton Wanderers pay dispute. 

Go on then Sluffy why has he gone against his word yet again?

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