BREAKING NEWS - Staff to be paid

WANDERERS have found a last-ditch solution to their pay crisis and have informed staff that they WILL now be paid at Christmas.

The club has confirmed this morning that payment will be made to non-playing employees as normal this Friday.

The Bolton News understands that the money has not been supplied by owner Eddie Davies and raised via alternate means.

The club had been investigating short term funding solutions involving the hotel and offices but it is not clear at this time if they have been part of the solution.

More to follow…

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Let's hope for the staff's sake this is true. Although I still think Eddie sucks for not doing this himself I'm pleased to know that the people who work for us won't be skint at Christmas.

Fantastic news!!

Glad they are finally getting paid!

Iles suggesting a solution involving the hotel and offices will provide the money so sounds as if they are borrowing against assets.

Also heard rumour that Euxton is being sold to PNE.


Maybe the firesale has started with the disposal of the low-hanging fruit?

wanderlust wrote:Iles suggesting a solution involving the hotel and offices will provide the money so sounds as if they are borrowing against assets.

Also heard rumour that Euxton is being sold to PNE.


Maybe the firesale has started with the disposal of the low-hanging fruit?

And this would also suggest heavily (to me at least) that the club ain't getting sold any time soon.

You can't be negotiating a sale which includes fixed assets in one room and at the same time be on the phone to the bank to mortgage them up to the bollocks in the one next door.

Although thinking about it, the banks probably won't touch us so I'm wondering who is involved because I can't see it being another loan from Warbies which will never get paid back because that makes no sense for them.

Administration looms.

Where's Boggers?

The oracle must have laryngitis or something.

Seriously though, do PNE even need Euxton and do they really have the cash to buy it? My understanding was that the lilywhites don't have a very healthy set of books themselves and I find it hard to believe they'd stump up anything close to market value for a training facility that they may not even need.

Breadman wrote:

wanderlust wrote:Iles suggesting a solution involving the hotel and offices will provide the money so sounds as if they are borrowing against assets.

Also heard rumour that Euxton is being sold to PNE.


Maybe the firesale has started with the disposal of the low-hanging fruit?

And this would also suggest heavily (to me at least) that the club ain't getting sold any time soon.

You can't be negotiating a sale which includes fixed assets in one room and at the same time be on the phone to the bank to mortgage them up to the bollocks in the one next door.

Thing is, you can Dave. Why not? As discussed previously short term book balancing measures like this just get added into the negotiation and reflected in the final price.

Think the Euxton to PNE thing is bollocks though.

Gut feeling - will the club be sold before Jan 18th: Yes or no?

Breadman wrote:Gut feeling - will the club be sold before Jan 18th: Yes or no?

at the risk of being accused again of fence sitting libdemness, I am not feeling confident enough I know how to call it. I'd put no money on either way, but in the spirit of hold my feet to the fire, have to say one way or t'other, I'm going yes. Or no. Possibly no. Or yes (I can go back and edit this can't i?) For now, I'm going no.

Breadman wrote:Gut feeling - will the club be sold before Jan 18th: Yes or no?

No. I wish it would happen Bread but I think now any serious bidder is going to wait for admin in the hopes of picking us up for next to nothing and putting themselves in a position to make a profit even if we drop to League One. 

Breadman wrote:Gut feeling - will the club be sold before Jan 18th: Yes or no?

It looks like the parties are dancing round each other at the moment. Nobody seems to want to leave but at the same time nobody seems to want to commit. 
At the end of the day, there's a good chance they won't be able to agree to terms but the continued talks seem to suggest that a deal is still possible.
Therefore timescale is impossible to predict whilst negotiations are in limbo.

However I did agree to a bet with you about this and although you specified December - not January 18th - a point I made at the time - I am a man of my word so if nothing is announced by Friday night I'll give a tenner to the staff fund as promised.

lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

wanderlust wrote:

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

another possible outcome of Jan 18th is an extension...it happens quite regularly, and if there are some realistic prospects of payment, there will be a delay of writ offered, maybe for a month, just sayin'

wanderlust wrote:

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

Fair enough lusty. In that case hopefully some small good will come of this horrible mess. Top work mate. 

Chairmanda wrote:

wanderlust wrote:

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

another possible outcome of Jan 18th is an extension...it happens quite regularly, and if there are some realistic prospects of payment, there will be a delay of writ offered, maybe for a month, just sayin'

And just how much would you bet on that outcome Manda? 'Cos I wouldn't stick a five pence piece on it myself.

luckyPeterpiper wrote:

Chairmanda wrote:

wanderlust wrote:

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

another possible outcome of Jan 18th is an extension...it happens quite regularly, and if there are some realistic prospects of payment, there will be a delay of writ offered, maybe for a month, just sayin'

And just how much would you bet on that outcome Manda? 'Cos I wouldn't stick a five pence piece on it myself.

Manda's right - it could drag on. All depends on how realistic it is that a deal is in the offing within an agreeable timescale i.e. what is HMRC's best chance of getting paid without resorting to a potential PR disaster.

Good hard working people deserve their wage. The players can do without for a year or two.

luckyPeterpiper wrote:

Chairmanda wrote:

wanderlust wrote:

luckyPeterpiper wrote:lusty Jan 18th is D-Day for us mate. In case you forgot that's the date of the hearing where HMRC is going to ask for us to be wound up if we haven't paid them before then. Whatever happens next it CAN'T drag on beyond that date as we will either have to have found the money to pay them off or cease to trade if we don't go into administration. If the bidders are serious they have to put up before that date. If not they need to shut up and get the hell out of the way so we can seek out someone who is.

Yeah. My bet with Bread was based on a conversation around when Boggers said the deal would be completed by i.e. Friday - which I (reluctantly) accepted despite knowing it may take longer to conclude one way or the other on the basis that it's for charity.

another possible outcome of Jan 18th is an extension...it happens quite regularly, and if there are some realistic prospects of payment, there will be a delay of writ offered, maybe for a month, just sayin'

And just how much would you bet on that outcome Manda? 'Cos I wouldn't stick a five pence piece on it myself.

i'd back that outcome if we get as far as the 18th, are we on for a charity bet LPP?