When do you think a deal will be done

So where is our billionaire suitor when we need him... and did he ever exist... and why did ED chase him away???

That was all bollocks.

terenceanne wrote:Am I understanding this correctly ...... it's the 2.2 mill tax bill that will send us into admin not the takeover football league shenanigans which is a separate issue.  Therefore all that is needed is a check for 2.2. mill to avoid the immediate admin and you are telling me that sports Shield have not been able to write that check for a month now at least.
Wonder what they will say when Lennon asks them for 2.3 mill for a new striker.

The tax bill is rising all the time as the debt increases every pay day (there are two pay days remember - the players are paid on one day and all the other staff paid on another) - so the longer this drags on the more pay dates that pass and the bigger that debt becomes.

I also believe a large chunk of the debt is from non payment of the quarterly VAT bill - so that too is increasing as time goes on.

You can see from HMRC point of view the urgency to cap these losses, hence their opinion the club is insolvent.



From what I can make sense of, the Holdsworth bid of £7.5 million to buy the club is what will pay the £2.2 million plus the accruing tax amounts until the end of July - so if the sale goes through we should be ok until then.

It was reported that they also have to find another £12.5 million over the next 5 years also as part of the deal but unless they find a dramatic cut in the players wage bill for next season then I would imagine most of that extra money will be needed simply to pay the wages (and the tax of course!).

I can't envisage what business plan they must have to think they can trade at break even let alone make a profit.

Non of it makes any sense at all to me unless asset stripping is still somehow the plan or alternatively some venture capitalist throw in huge amounts to make us competitive again and sell us on for a profit - and I can't see that happening at all!

All seems very dubious to me to say the least.

Boggersbelief wrote:If what breadman says is true, Now would be the perfect time hand the club over to the supporters trust. Because it's either that or liquidation. Davies will probably finally pay his tax bill at the last minute, do a deal with the trust and look like a hero.

The ST will have the same financial situation to face as Holdsworth would though.

They would still need to find financial backing to pay the taxman (if Davies doesn't pay HMRC) and then find another £5 million or so to keep us going until the end of the season.

Just because they are an ST doesn't mean they aren't responsible for the huge current costs of running the club - they will be!

The ST can only come into play if they find a multi-millionaire willing to pay the bills for the next few years (like the Hearts ST have) or wait until the club no longer has a pot to piss in AFTER Administration and run the club on a shoe string in the lowest divisions until everybody gets sick and tired and gives up going!

Sluffy wrote: run the club on a shoe string in the lowest divisions until everybody gets sick and tired and gives up going!

If it gets rid of the plastic fans it'll be worth it.

Sluffy wrote:
I can't envisage what business plan they must have to think they can trade at break even let alone make a profit.

Non of it makes any sense at all to me unless asset stripping is still somehow the plan or alternatively some venture capitalist throw in huge amounts to make us competitive again and sell us on for a profit - and I can't see that happening at all!

All seems very dubious to me to say the least.

Cost of 9 contracted players alone is £5.85 million next year so est £8 mill for entire squad. Add the other costs and I can't see how they can generate that kind of money in Y1.

Gutted.
Apart from loans, any other details about the bid come out in court?

Don't know how Northampton are doing the business, they were in a very similar position to us at the start of this season, yet now stand well clear at the top of league 2, oh hang on, yes they have a manager that knows his shit, unlike the clueless tw@t that is Lennon.

Just for the record -

Flat cap doffed to those who thanked me for the live feed from court.



The person behind the LoV tweets from court today was non other than George Bower of the ST!

I wondered how LoV seemed to have inside knowledge of everything that's been going on at the club recently.

Now we know!

This entire situation is a bit "Alice Through The Looking Glass" now. 

I don't know what to think or feel about it; all I do know is that we're rapidly becoming even more of a running joke than Leeds United in off field matters. I just want it to be over one way or another.

According to the latest article in the BEN the transfer embargo will remain in place even if the sale goes through. So we will not be able to bring in any last minute loanees ....not that anybody was coming anyhow. But it looks like we will have to get rid of existing players and then not be able to bring anybody in to boot.
Only in BWFC world do events like this exist. We are truly indebted to the management of Phil & Eddie over the past 15 years. 

The intentions and motivations of all the various parties remain a mystery to us fans......inevitably, since no one has been prepared to let us know exactly what is in their minds. 

There is scant regard for what the lifeblood of the club might be feeling. I'm appalled and bewildered in equal measure. I have kept quiet until now because I felt that everyone that matters would be striving to ensure the best possible outcome for BWFC, but now I feel completely let down.

Nothing seems to make any logical sense.

okocha wrote:The intentions and motivations of all the various parties remain a mystery to us fans......inevitably, since no one has been prepared to let us know exactly what is in their minds. 

There is scant regard for what the lifeblood of the club might be feeling. I'm appalled and bewildered in equal measure. I have kept quiet until now because I felt that everyone that matters would be striving to ensure the best possible outcome for BWFC, but now I feel completely let down.

Nothing seems to make any logical sense.

I'll save you a seat at Victory Park on Saturday.

This is what Alan Nixon wrote in The Sun today....

Dean Holdsworth has a fortnight to save Bolton - after his major backer pulled out. Holdsworth's bid to take over Bolton for £7.5 million stumbled when Bruce Gordon withdrew from the consortium.
In a High Court hearing yesterday, the tax man wanted Bolton to be liquidated because they failed to pay a £2.2 million tax bill. Owner Eddie Davies said that the club had started the administration process in case the court ruled against them.
But the judge gave Wanderers a THIRD extension, while Holdsworth finds the cash.

Reebok Trotter wrote:This is what Alan Nixon wrote in The Sun today....

Dean Holdsworth has a fortnight to save Bolton - after his major backer pulled out. Holdsworth's bid to take over Bolton for £7.5 million stumbled when Bruce Gordon withdrew from the consortium.
In a High Court hearing yesterday, the tax man wanted Bolton to be liquidated because they failed to pay a £2.2 million tax bill. Owner Eddie Davies said that the club had started the administration process in case the court ruled against them.
But the judge gave Wanderers a THIRD extension, while Holdsworth finds the cash.

The real question now is why did Bruce Gordon withdraw?  He's the one with the real cash... and if he pulled out, there must be a good reason.

And also..... htf did we manage to get a third extension from the judge? It beggars belief. The whole sorry business is a huge steaming great crock of shit and it stinketh.

I've just seen an excerpt from an official looking statement from the FL on Twitter which says that this monthly review thing that they're imposing on SS "may extend until 31st August 2018".

So that's all next season and through the summer break, right up to the start of the season after.

I've tried finding the original piece without success, as there's cock all on the FL's website in terms of any statements on the situation.

We now know that the main money man at SS has run away after he sobered up, so this news adds credence to the notion that they haven't currently got the proverbial pot to whatsit in and it doesn't look like they've got much of a plan to address the situation any time soon.

...beyond trawling round Deano's ex-player mates with a begging bowl.

The FL must have some very serious concerns about the entire thing if they're already imposing strict conditions like this one which carry the option to stay in place for 18 months.

And let's face it, unlike any of us, they've seen the entire bid document.

Does not inspire any confidence at all.

All very odd.....

It all seems very shady to me and - I guess with the threat of a season and a half's monitoring - to the Football League as well.

Clearly whatever the Holdsworth business plan is the risk must be deemed high enough to fear it will fail, or otherwise why the need for monthly monitoring?

High financial risks usually mean the intention is for high profit rewards for the investors - but can anybody see where from?

They must be there I guess IF Holdsworth, Roger, The Koreans, The Canadians or whoever showed a solid interest to buy the club really did exist and really did want to buy the club.

I can only see two ways of making money as it stands - asset strip or invest highly and gamble they can get the money back by getting in the Premier within a season or two at the most.

There is a third way whereby someone wants to simply throw money at the club for the love of it.

Obviously Bruce Gordon and his private equity money seemed to think the deal was no longer a good one for them - and the only obvious explanation for the change of heart was that the books had been made available for inspection between our last two court dates.

Holdsworth seems to have found a new 'local' business partner to replace these missing millions from Gordon - at the drop of a hat - so I'm guessing it must be someone who has been on the periphery of the takeover talks for sometime.

Hope they've seen the books too though otherwise they might get cold feet soon to!

What a mess.

Probably to stop them importing a "Stalking Horse," Breaders. Might be worried that Disley is waiting in the wings, or the present board are being less than honest. Clusterfeck of massive proportions, so fingers crossed.

The vultures are circling

And this are the people personally selected by our Eddie to take the club forward.

Hopefully this will be the last business decision ever made by intrepid leader to do with BWFC.  Sadly we might be belly up because of it.  Ironically fitting in a way since he saved us once and now buries us.