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No matter what the history or politics are, surely this is good news? it wipes away a monster of a debt. and makes a take over more appealing. Without any movement off the field we will get relegated, this at least gives us a chance of improvement. We enjoyed ED bankrolling in the good times IF he really is sincere and writing of this debt, Then all along the line the club took regarding it as a soft debt becomes more plausible.
Eddie Davies wipes off debt
+9
Reebok Trotter
BoltonTillIDie
wanderlust
Bolton Nuts
Sluffy
Battersea_Fan
Boggersbelief
Norpig
FullofSprite
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42 Re: Eddie Davies wipes off debt Tue 24 Nov - 19:19
Mr Magoo
Youri Djorkaeff
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43 Re: Eddie Davies wipes off debt Tue 24 Nov - 20:34
terenceanne
El Hadji Diouf
I don't know the tax laws currently in the UK but isn't it a massive write-off over the course of years for Eddie.
In other words he can write that off against other income for years to come. That type of thing is done all the time here in the USA.
Other than that it doesn't make any sense. Not knowing the whole story of course.
In other words he can write that off against other income for years to come. That type of thing is done all the time here in the USA.
Other than that it doesn't make any sense. Not knowing the whole story of course.
44 Re: Eddie Davies wipes off debt Tue 24 Nov - 21:25
FullofSprite
Nicolas Anelka
He's not worth 3/4 of a billion. I'd like to think he's taken a big hit because he loves the club. I think the club has been badly run and writing of the debt helps to cover that up. I think privately ED wishes he'd never met Phil Gartside, but publically he can't say that.Breadman wrote:I'm still smelling a massive rat here but I can't put my finger on it exactly and it may just be my innate cynicism coming through.
It really doesn't make any sense for ED to give away all the property assets as part of a job lot along with the BWFC name and I'm honestly struggling to believe that he'd do that anyway, given that he took the hard-nosed business decision to turn the tap off on the football team over ten months ago and has sat back and watched us slide down the league ever since.
The received wisdom is now suddenly that he's far wealthier than we all believed previously (possibly because that fits the current popular narrative that he's such a fantastic bloke who loves BWFC sooooo much he's willing to give up over £170 million) because that makes it easier to believe, so if he really has got pots of money, why would "No1 Super Bolton Fan" Eddie make us all suffer Gary Madine and his feckless ilk?
If he's worth anywhere up to three quarters of a billion quid (as I have seen suddenly reported on other sites) a mere £2m for ALF would have been a mere drop in the ocean and would also have made decent business sense.
Goals = Points = Not being stuck at the bottom of the fecking league.
Is it too much to suggest that there will be no take-over and this is all just a load of bollocks to take the heat off Gartside and Davies and spin this myth that they're a fantastic pair of chaps who really have done a splendid job all along and who have BWFC's best interests at heart?
Fast forward four weeks, Birch comes out and says "Sorry, Eddie really loves Bolton Wanderers and didn't want to sell to a bunch of chancers who aren't as dedicated to the cause as him and Malingering Phil, so he's keeping the club for now. I'm sure you understand."
And everybody goes: "Aw, shame......never mind. At least we know what a top guy Eddie is though."
I dunno........
I think Phil Gartside has been feathering his own nest (not doing anything illegal -I'd like to say) , hoping to keep the chairmanship and blocking any relevant bidders until one included him.
ED has funded the club as far as he can or wants to. I also think he'd hoped the Warburtons would have taken the club on but they didn't. It's my opinion that behind the scenes there's been a lot of infighting and I think Brett Warburton seized his chance and got Trevor Birch involved as soon as Phil Gartside was out the way.
ED still has to approve the new owners, who will have to come up with a decent business plan as to how to curtail the losses running at nearly £1 million a month.
There's also the control payments that the new owners have to stump up.
Don't think Trevor Birch will let anything go, and everything will be done to save the club. The good thing is that there are interested parties - pessimists would tell you no one was interested.
The race hasn't been run yet and we're still to find a definite buyer. The arabs are in town, so lets see what they bring to the table.
45 Re: Eddie Davies wipes off debt Tue 24 Nov - 21:28
Guest
Guest
You always leave me with a sense that you know far more than you're actually letting on, you scamp.... 
46 Re: Eddie Davies wipes off debt Tue 24 Nov - 21:34
Boggersbelief
Nat Lofthouse
"I'm still smelling a massive rat here" Quelle Surprise
47 Re: Eddie Davies wipes off debt Tue 24 Nov - 22:40
rammywhite
Frank Worthington
y2johnny wrote:Rammy come back, raaaaammy come back, with my cd collection of bob marley
I have- I didn't go far. I only went to the dentist to have the last part of a dental implant done. Dental implants- that's probably worth a new thread by itself.
48 Re: Eddie Davies wipes off debt Tue 24 Nov - 22:56
Guest
Guest
rammywhite wrote:y2johnny wrote:Rammy come back, raaaaammy come back, with my cd collection of bob marley
I have- I didn't go far. I only went to the dentist to have the last part of a dental implant done. Dental implants- that's probably worth a new thread by itself.
Check the non football section for your own song title thread
49 Re: Eddie Davies wipes off debt Wed 25 Nov - 8:19
Boggersbelief
Nat Lofthouse
"@MarcIles: Very clear we're at business end of takeover talks. Wouldn't like to be a bookie giving odds on who'll succeed."
50 Re: Eddie Davies wipes off debt Wed 25 Nov - 10:22
wanderlust
Nat Lofthouse
Interesting article by Iles on home page about finances required to buy club AND improve squad. Presumably it will get uploaded to News page? It still adds up to speculation about how much would be required though.
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