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Bolton Nuts » BWFC » Bolton Wanderers Banter » Eddie pays 1m players wages to stop them leaving for free

Eddie pays 1m players wages to stop them leaving for free

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Bwfc1958
luckyPeterpiper
wanderlust
Bolton Nuts
Hipster_Nebula
scottjames30
FullofSprite
Bollotom2014
gloswhite
Sluffy
Boggersbelief
Norpig
Chairmanda
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Sluffy

Sluffy
Admin

Iirc doesn't football creditors (players wages) take first call on assets, with the taxman not having preferential status in footballing Administration?

If so it would make sense to pay them first anyway.

I would think IF the story is true that the reason he will pay the wages is to get us to next months transfer window when players will be sold.  This seems to imply that deals have been done already and sales will bring in more than the cost of the wage bill to get there - otherwise what is the point?

Bolton Nuts


Admin

Is it just me or are the players being a bit impatient. I like to think that out players might have said,hey the club is struggling let's all club together and voluntarily go unpaid for 3 months while things get sorted...

https://boltonnuts.forumotion.co.uk

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

Would you do that at your job? I wouldn't.

End of the day it's just a job for these people, they prove that week in week out on the pitch.

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Boggersbelief wrote:
Norpig wrote:i admire your optimism but on what i've seen this season it's unlikely. We've won one game all season and only scored 13 goals (i think?) and our defence concedes far too many. We are only going one way - down

We will put together some sort of run, we haven't been playing badly which is why I'm not worried. Clough and Silvas return could spark us into life
I heard there's an outside chance they'll be available for the Charlton game but won't be playing today.

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?

Guest


Guest

He's already won...... Cool

luckyPeterpiper

luckyPeterpiper
Ivan Campo
Ivan Campo

wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
lusty, no disrespect but who do you think needs the money more? Players on four and five figure weekly wages or staff on about eight quid an hour? Especially at Christmas.

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

luckyPeterpiper wrote:
wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
lusty, no disrespect but who do you think needs the money more? Players on four and five figure weekly wages or staff on about eight quid an hour? Especially at Christmas.
No disrespect Peter but what do you think those staff on about 8 quid an hour would prefer - a final payoff of 4 weeks wages or a job to go to next year?

Chairmanda

Chairmanda
Andy Walker
Andy Walker

wanderlust wrote:
luckyPeterpiper wrote:
wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
lusty, no disrespect but who do you think needs the money more? Players on four and five figure weekly wages or staff on about eight quid an hour? Especially at Christmas.
No disrespect Peter but what do you think those staff on about 8 quid an hour would prefer - a final payoff of 4 weeks wages or a job to go to next year?
That's why I said it is the right business decision to pay players and protect any value for the benefit of all connected with the club. But, its not like ED is "giving" another £1m...he owns a club which made commitments, they should not have been made if they cant be kept. With your argument wanders, surely as it was clear we were safe last season relatively early on, certainly before the ALF loan, why did we spend money on that earlier this year if we cant now pay staff in December?

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse

wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
 he should pay everyone and keep the club ticking over as he still owns the club, he shouldn't be allowed to walk away from his responsibilities.

Bwfc1958

Bwfc1958
Tinned Toms - You know it makes sense!

Norpig wrote:
wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
 he should pay everyone and keep the club ticking over as he still owns the club, he shouldn't be allowed to walk away from his responsibilities.
:agree:

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Chairmanda wrote:
wanderlust wrote:
luckyPeterpiper wrote:
wanderlust wrote:And yet by protecting the assets, ED is increasing the chances of the staff having a job in the longer term.
He's supposedly just coughed up another £1million for the club yet whatever he does the poor man will get slagged off by people who haven't got an effing clue what he's thinking or what his motives are. Can't win can he?
lusty, no disrespect but who do you think needs the money more? Players on four and five figure weekly wages or staff on about eight quid an hour? Especially at Christmas.
No disrespect Peter but what do you think those staff on about 8 quid an hour would prefer - a final payoff of 4 weeks wages or a job to go to next year?
That's why I said it is the right business decision to pay players and protect any value for the benefit of all connected with the club. But, its not like ED is "giving" another £1m...he owns a club which made commitments, they should not have been made if they cant be kept. With your argument wanders, surely as it was clear we were safe last season relatively early on, certainly before the ALF loan, why did we spend money on that earlier this year if we cant now pay staff in December?
Why we have blindly walked into such horrendous cashflow problems remains a mystery. The only possible reason I can think of is that whoever was pulling the wool over EDs eyes assumed he would continue to pump money into the business ad infinitum i.e. they could go to the well as often as they wanted. But that's a different question which will hopefully be answered in the fullness of time. Many on here suspect Gartside of dodginess.


However, I think you are mistaken about ED's responsibilities - I believe that it is a limited company and therefore he has limited liability despite being the major shareholder and - correct me if i am wrong - ED has no responsibility whatsoever to put a single penny into the failing business.

It is the business that employs these people, not ED. So any money he puts in he does so out of the goodness of his heart - or to protect remaining assets so that there's a chance that the club will survive.

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse

Lusty do you really think Saint Eddie doesn't control what goes on at the club? If the man claims to be such a big fan of the club he wouldn't leave it in the mess it is now, he has a moral responsibility to save our famous old club and should be doing whatever it takes to ensure we still have a club to support. 

Fair enough he wants to sell but he can't just throw us away like one of his dodgy kettle filaments when he's had enough

Guest


Guest

Lusty,

Do you honestly believe that someone with the acumen to become a successful business owner (I don't mean BWFC, I mean the other stuff he's involved in) would not be bright enough to see if he was being mislead by his lieutenants?

That's a leap too far for me.

He's known all along what was happening - he must have.

Guest


Guest

Snap !

Well said Nordave.

Guest


Guest

I am not sticking up for eddie one bit.

But who said he has business acumen? He invented a kettle element so he has brains but doesnt mean he cant be easily mislead by the wrong people.

Mr Magoo

Mr Magoo
Youri Djorkaeff
Youri Djorkaeff

y2johnny wrote:I am not sticking up for eddie one bit.

But who said he has business acumen?  He invented a kettle element so he has brains but doesnt mean he cant be easily mislead by the wrong people.
I bet he is at boiling point by now.

Guest


Guest

y2johnny wrote:I am not sticking up for eddie one bit.

But who said he has business acumen?  He invented a kettle element so he has brains but doesnt mean he cant be easily mislead by the wrong people.

He built the kekkle business up from a small shop in Bolton to a multi-million pound enterprise, so I'm assuming he's no Magoo.

Guest


Guest

Yeah but magoo could come one day caramelise a sausage a particular way. Come up with a sausage that cures something that has never been cured before. Make millions and millions. So he has gone from making shite sausage in his kitchen to running a billion pound sauage factory. Doesnt make him a businessman. It makes him a business.........man (to quote jay-z) Sad

Mr Magoo

Mr Magoo
Youri Djorkaeff
Youri Djorkaeff

Breadman wrote:
y2johnny wrote:I am not sticking up for eddie one bit.

But who said he has business acumen?  He invented a kettle element so he has brains but doesnt mean he cant be easily mislead by the wrong people.

He built the kekkle business up from a small shop in Bolton to a multi-million pound enterprise, so I'm assuming he's no Magoo.
I started my business with £1500 it turned over 1.6 mil so piss off bread.

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