Bolton staff not being paid in January

Bwfc1958 wrote:If they manage to sell the car park, how will that help with a takeover? 

At first I thought it would be because the asking price would be cheaper as there's no car park lumped in, but that can't be true because Eddie only wants a quid anyway so surely is just another asset that a potential buyer won't get anymore, therefore making it an even less attractive proposition than it already is. 

Am I talking bollocks or is Lennon making sense with that statement?

Selling the car park will provide the funds to pay the staff and make HMRC go away. This will then lead to the lifting of the transfer embargo which will effectively simplify the deal and provide a blank canvas for the new owners. Nobody wants to buy a going concern that is in the middle of legal wranglings so in that sense it should help clear the path for a sale.


It may change the dynamics of the sale and business plan because the new owners will have to budget to rent the car parks back if they are actually needed by the club (although the new owners of the car park may choose just to operate them as a charging car park or even develop the land instead)

What perplexes me is that if BWFC owns the car parks, why were they leasing them out instead of operating them as paying car parks all along - which would have generated tens of millions per annum? Probably far more than gate receipts because they would be generating income 24/7.

wanderlust wrote:

What perplexes me is that if BWFC owns the car parks, why were they leasing them out instead of operating them as paying car parks all along - which would have generated tens of millions per annum? Probably far more than gate receipts because they would be generating income 24/7.

Just which car parks are we talking about - the ones right outside the ground that are in use for maybe 3 hours once or twice a fortnight?

No one is making a killing from that.

Bwfc1958 wrote:If they manage to sell the car park, how will that help with a takeover? 

At first I thought it would be because the asking price would be cheaper as there's no car park lumped in, but that can't be true because Eddie only wants a quid anyway so surely is just another asset that a potential buyer won't get anymore, therefore making it an even less attractive proposition than it already is. 

Am I talking bollocks or is Lennon making sense with that statement?

Only explanation I can think of is that the club pay a few more creditors off with the proceeds from the car park, giving the new owners one less headache when they do take over.

Probably complete bollocks but I've given up trying to make sense of the takeover, too many little debts, agreements and contracts which nobody outside has a clue about.

The whole thing is bollocks ..... What type of mickey mouse outfit is taking us over if parking lots and the like are a concern. Can you imagine the Sheiks at Man City or Roman at Chelski pissing about like this. I want somebody in here who has money to burn otherwise we are going to be no better off at the end of all this. My hopes a fading fast I'm afraid.

terenceanne wrote:The whole thing is bollocks ..... What type of mickey mouse outfit is taking us over if parking lots and the like are a concern. Can you imagine the Sheiks at Man City or Roman at Chelski pissing about like this. I want somebody in here who has money to burn otherwise we are going to be no better off at the end of all this. My hopes a fading fast I'm afraid.

Not being funny, but if that's only just dawning on you you're not paying attention.

Breadman wrote:"What perplexes me is that if BWFC owns the car parks, why were they leasing them out instead of operating them as paying car parks all along - which would have generated tens of millions per annum? Probably far more than gate receipts because they would be generating income 24/7."


Lusty,


Nobody's going to pay to park there when they can park for free 100 yards away on The Middlebrook.

Looking at the map on Nixon's Twatter thread it implied that BWFC owns all the car parks including Middlebrook.

There was also a comment that the little one adjascent to the ground alone leases out for £1.2 million per annum.

Now this may be a complete load of bollocks, but there has to be some value somewhere if there's any truth in this overall £20 million valuation. There probably isn't.

bwfc1874 wrote:

terenceanne wrote:The whole thing is bollocks ..... What type of mickey mouse outfit is taking us over if parking lots and the like are a concern. Can you imagine the Sheiks at Man City or Roman at Chelski pissing about like this. I want somebody in here who has money to burn otherwise we are going to be no better off at the end of all this. My hopes a fading fast I'm afraid.

Not being funny, but if that's only just dawning on you you're not paying attention.

Aye ....but I have been saying all along that I'm perplexed with what the intentions are of the new owners. They will have a league one side stripped of assets still losing money by the day.......it doesn't make sense at the moment.

Everything will be fine.

Statement regarding the club's recent request for a validation order

Bolton Wanderers is pleased to confirm that today, Friday 22 January, the club was able to obtain a third validation order at the High Court to allow it to enter into a transaction that enables it to continue trading.

The validation order gives authority to the club to finalise a commercial arrangement with Middlebrook Business Park Ltd and the club will provide a further update on this transaction on Monday.

In the meantime the club can confirm that instructions have been issued to expedite payment of all delayed staff January wages.


The club again thanks all staff for their calm support and continued commitment to the cause.

NIXON - Bolton. Car park sale biggest cheque in club's history surely.... Now comes the next tricky part. Finding a right new owner ... but a whole lot of debt, immediate and long-term has just gone. It would also be a massive help if club said what they got and where money has gone and is going. Fans deserve to know.

Iles is still fannying about tweeting about Miller Metcalfe urging people to make the ST the preferred bidder to buy the club, the fucking useless idiot.......

#shambles

Boggersbelief wrote:NIXON - It would also be a massive help if club said what they got and where money has gone and is going. Fans deserve to know.

Sounds like he hasn't got a clue to me. He doesn't know what they got, where it's gone or where it might go, so how does he know it's paid off a whole lot of debt?

I hope he's right obviously, but it just sounds like he's guessing.

It should keep us going to the end of the season.

[You must be registered and logged in to see this link.]
Heard two valuations of car park deal today - £20m and £6m. Sought a figure from senior source at club - and the lower one is closer [You must be registered and logged in to see this link.]

So only £14Million difference. I heard two valuations also, £60,000Million and half a crown. Apparently it's somewhere between the two figures. Can I gerra job on BN please?

Utter shit journalism .

Yeah the lower figure Marc iles got was what is left over to go towards the rest of the season.still not enough but that's after wages loans and tax bill

As Nixon says though, a takeover deal should run much smoother now