Eddie Davies wipes off debt

theboltonnews.co.uk/sport/14097992.Eddie_Davies_will_wipe_off_debt_at_Wanderers_when_club_is_sold___Trevor_Birch


Tremendous news for the fans

this is the news we all hoped for, whoever gets the club will be getting a good deal with all the stadium, academy, hotel and all the land. Lets hope whoever takes over has a few quid to spend in January.

Even without the debt we are still pissing away £1million a month. Hope the new owners have deep pockets to cover that and also invest in at least 5 actual footballers

Read the article boggers. It said when we was at our worst we was losing a million, not since which switched to aldi

Boggersbelief wrote:Even without the debt we are still pissing away £1million a month. Hope the new owners have deep pockets to cover that and also invest in at least 5 actual footballers

Correct. Hopefully we have new owners who will sort that out too. Possibly make redundancies. Maybe the busses will have to go

After todays news though you can guarantee that will entice a lot more interest.

I think we should all record our thanks to Eddie for all the money he has put into the club, all the great times and players that has bought and the generosity he has shown to write off the debt and give the club the chance of a new start on stable financial foundations.

Thank you Eddie.

Boggersbelief wrote:Even without the debt we are still pissing away £1million a month. Hope the new owners have deep pockets to cover that and also invest in at least 5 actual footballers

That's the issue.

The debt total and write off in reality was/is meaningless.

I personally don't believe for one second that the money all came from Davies in the first place and it wouldn't surprise me in the least if whoever ends up taking over the club have the same mysterious backers hidden away in the background, taking over the clubs assets, as the ones who pumped the money into the club in the first place.

Putting that to one side, whoever takes on the club still has to turn the clubs running costs around and I simply can't see how they can do that in the short term.

The most obvious thing to do is to get rid of ever player they can on a salary the club can no longer afford, but who will want the likes of Spearing, Wheater, Davies, etc - and their wages(!), in the January window?

I tend to think asset striping is a much more likely scenario, and once that's done the new owners making an exit via putting the club into Administration and leaving the loan company and the people who have paid for our future gate receipts, etc in the shite.

There seems to be a lot of euphoria on all the other BWFC forums about todays statement as they see it as the altruistic gift a great club benefactor and the start of a brave new world for the club whereas I simply see it as an exit strategy from those behind Davies, in order to recover as much of their investment they can and leave the mess for others to worry about after they have gone.

Hope I'm wrong about all of this though.

Battersea_Fan wrote:I think we should all record our thanks to Eddie for all the money he has put into the club, all the great times and players that has bought and the generosity he has shown to write off the debt and give the club the chance of a new start on stable financial foundations.

Thank you Eddie.

A touching sentiment. Good point.

Biggie wrote:

Battersea_Fan wrote:I think we should all record our thanks to Eddie for all the money he has put into the club, all the great times and players that has bought and the generosity he has shown to write off the debt and give the club the chance of a new start on stable financial foundations.

Thank you Eddie.

A touching sentiment. Good point.

If this deal is what is claims to be I am absolutely gobsmacked.
Sure it doesn't solve all our problems but it certainly does help. What an incredibly generous offer and what incredible support for the club. Heroic stuff.

I am none the clearer as to whether anything has changed though. As far as I understand it, neither Deano or Stelios are taking things further - or am I reading the statement incorrectly?

Birch has also indicated that none of the parties who have stepped forward with a proposal to buy Wanderers have indicated that they would pursue a change in ownership.

Think they meant they wouldn't change the manager, wandy

Boggersbelief wrote:Think they meant they wouldn't change the manager, wandy

Not so sure Boggers. They say ownership which implies that the article is saying neither bid is proceeding but the club is still up for sale and anyone who does buy the club won't have to pay Eddie.

If I was REALLY paranoid I might be thinking that maybe this Q and A was a smokescreen? A clever way to slip out the news that there's no takeover. Maybe there is a reason why they backed off? Something they're not telling us?

What is sure is that nothing has changed yet.

wanderlust wrote:

Boggersbelief wrote:Think they meant they wouldn't change the manager, wandy

Not so sure Boggers. They say ownership which implies that the article is saying neither bid is proceeding but the club is still up for sale and anyone who does buy the club won't have to pay Eddie.

If I was REALLY paranoid I might be thinking that maybe this Q and A was a smokescreen? A clever way to slip out the news that there's no takeover. Maybe there is a reason why they backed off? Something they're not telling us?

What is sure is that nothing has changed yet.

You really should not believe everything you read in the Bolton News Lusty!

The original club's news release and which was posted at the time by Boggers (on the 'Trevor Birch' thread), clearly said 'manager'.

It is the incompetence of Bolton News to even copy and paste correctly that has led to your (and others) confusion about this issue.

See here (post 77) -

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

This is great news for the club.  Yes, You would expect a lot more interest now

£15 Million for a debt free club with assets worth 10s of millions. Premier league infrastructure. If only we weren't rooted to the bottom of the league.

According to today's news report he has written off £185 million worth of debt? That is a seriously sizeable amount.

If this is true and there genuinely aren't any catches, caveats or clauses, no person has ever given more to a club in the history of the game and the first signing the next owners should make is a stonemason to carve a huge statue of the man to sit proudly outside the ground so that football fans can see what loyalty means.

What a guy!

The bulk of the money being written off comes from investors from the Moonshift Investment company (of which Davies was a director I believe).

I don't believe for one second that the £185 million being written off is / was Davies personal money.

I also find it convenient that the seemingly favoured Holdsworth bid is from a company that didn't even exist a few months back.

I suspect that whoever 'lost' their money on the Moonshift investment are probably the same people who look likely to get a debt free club and all the assets on a giveaway sale of the club by Davies by being the 'investors' behind the Holdsworth bid.

Just my opinion.

Sluffy wrote:The bulk of the money being written off comes from investors from the Moonshift Investment company (of which Davies was a director I believe).

I don't believe for one second that the £185 million being written off is / was Davies personal money.

I also find it convenient that the seemingly favoured Holdsworth bid is from a company that didn't even exist a few months back.

I suspect that whoever 'lost' their money on the Moonshift investment are probably the same people who look likely to get a debt free club and all the assets on a giveaway sale of the club by Davies by being the 'investors' behind the Holdsworth bid.

Just my opinion.

you have a very suspicious mind Sluffy but you may be right. Just being debt free will be a large weight of everyone's shoulders

Norpig wrote:
you have a very suspicious mind Sluffy but you may be right. Just being debt free will be a large weight of everyone's shoulders

All this simply seems to convenient for me to take it at face value.

I mean would anybody who is not astronomically rich throw away the best part of £200 million on a hobby? Particularly when he sold his shares in his kettle business (remember that is where his wealth is reported to have come from) for just £93 million.

Or would an ex-footballer with no track record in business really want the liability of a club with no obvious future other than hitting the financial rocks - and very soon too? AND set up a business just a few months back just in time for that purpose?

If someone had put a large amount of money anonymously behind the scenes (into Moonshift), wouldn't it make sense for them to try and get it back anonymously behind the scenes too (via Sports Insurance Investment)?

It all seems to fit rather neatly together to my mind.

Not that any of it matters, as it 'their' business and they can do whatever it is they like as long as it is done legally.

I'm simply musing just trying to make sense of it all to me.