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Not even constituted yet Supporters Trust seeks to become prefered bidder status to take over BWFC!

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Norpig
Natasha Whittam
Sluffy
Bollotom2014
FullofSprite
rammywhite
Hipster_Nebula
Boggersbelief
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Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse

In line with the Trust’s objectives and rules, which include ‘achieving the greatest possible supporter and community influence in the running and ownership of the Club’, BWFCST has been in regular dialogue with the Club’s management regarding its sale.


We have written to the owner, Eddie Davies. We have expressed our commitment to help lead an acquisition, in conjunction with local institutions and businesses, from whom we have received a very positive response.


 Our objective is to raise sufficient funding to secure the future of the Club for the benefit of the supporters, the community and the town. We would not engage with anyone who didn’t share our commitment to a community investment.


We have requested immediate access to management and financial information and preferred bidder status.
We would make every effort to achieve a solvent purchase, to avoid losses for creditors and a points deduction. This could only be assessed and confirmed once the above access is granted, to enable us to establish the extent and timing of the funding needed. 


If administration proved unavoidable, we would work with the Club to make the best of that situation. If we believe that a supporter led takeover is feasible, we will consult with supporters before moving forward with a bid.


Ideally, we would have started this process once membership fees had been taken, an AGM held and a board voted in, but time is against us and we have had to act now to try to secure the Club’s future. We continue to take guidance from [You must be registered and logged in to see this link.], who have 15 years’ experience of helping supporters at other clubs through similar situations.


We understand that you, as fans, will have questions about this move. We have attempted to answer as many as possible below.


Was this the intention of the Steering Group all along?

An acquisition of the Club which the Trust could be part of has always been an option available to the Trust (as outlined in previous communications and in item 5.1 of the Model Rules, available [url=http://bwfcst.co.uk/Trust Documents/BWFCST - Supporters Community Mutual Model Rules.pdf]here[/url]). Since the initial meeting on January 6th 2016 things have moved very quickly, and the Steering Group, on behalf of the Trust, is now looking to secure access to funds and resources to take part in a community-led bid, for the good of the fans and to secure the long-term future of the Club.



So, will the Supporters’ Trust own the Club outright if the bid is successful?


We do not believe that the Trust could raise enough money alone to purchase the entire club. So, we are examining a similar model to that at Portsmouth, where the Trust, with a combination of local institutions and businesses, would acquire the Club. Consequently, the Trust and its members would own a percentage of the Club, depending on how much money the Trust could raise. 
The more the Trust could raise, the more of the Club it would own.


The Steering Group hasn’t been elected, and the Trust isn’t yet fully formed, so why are they making a move to help buy the Club?

The situation is urgent and we have to act now. The winding-up petition is due to be heard in the High Court on February 22nd, so the Steering Group, under the guidance of [You must be registered and logged in to see this link.], has decided to participate now in this community-led bid, before it is too late. A formal participation when funds are raised will be subject to consultation with supporters.



Does this mean the Steering Group members are now on the board of the Trust?

No – there will be Trust board elections as soon as possible. The fact that the Trust is trying to help buy the Club changes nothing with regards to how the Trust works.



Do the Trust’s members, or the Steering Group members get a seat on the board if the bid is successful?

There would be significant involvement of the Trust on the board. Once the Trust’s board has been elected, the members will then select their representatives on the Club’s board to ensure there is constant dialogue between those running the Club and the Trust, and ultimately the fans. The number of individuals from the trust on the Club’s board would be linked to the amount raised by the Trust.



Richard Hurst is the interim Trust Chairman. Would he be the Bolton Wanderers Chairman if the bid was successful?

No. Richard does not want to be the Bolton Wanderers Chairman. If the bid is successful, the Trust, in conjunction with the participating local institutions and businesses, will select a Chairman when the time comes. This will be someone who can lead the Club forward in a transparent and professional manner.

How can the Trust help buy the Club at such an early stage?

The Trust is now fully registered and, in accordance with the [url=http://bwfcst.co.uk/Trust Documents/BWFCST - Supporters Community Mutual Model Rules.pdf]Model Rules[/url], can help acquire a stake in the football Club.

Where is the money coming from?

Local institutions and businesses have approached the Steering Group to offer funds to enable the potential acquisition to take place. All those involved are lifelong Bolton Wanderers fans and committed to the idea that this is a community led acquisition. 

This is in line with the Portsmouth model explained so passionately by Ashley Brown (Pompey Trust Chairman) and his colleagues at the meeting on January 6th.
We will keep supporters updated on this and on progress in setting up the Trust. If you have any further questions, please email: [You must be registered and logged in to see this link.].uk.
Thank you for your continued support.

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

Absolute tin pot, being "owned" by an ST will confine us to the doldrums forever.

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse

Was thinking the same. But I suppose we'll still have a club...

Iles saying their funding is coming from a lot of places

rammywhite

rammywhite
Frank Worthington
Frank Worthington

Hipster_Nebula wrote:Absolute tin pot, being "owned" by an ST will confine us to the doldrums forever.
Absolutely correct Hipster- it would confine us to the lower leagues for the rest of your life and mine.
Its simply not got the money,influence skills or ability to run a football club of this size and with the assets it has. They're a bunch of well meaning amateurs none of whom seems to have run a successful business before and certainly not a football club
It's the kiss of death for the club. Do we want to be like Portsmouth inhabiting the lower divisions for the next 30 years? 
We're bigger than that!!
This whole charade is just depressing me more than the results on the pitch

FullofSprite


Nicolas Anelka
Nicolas Anelka

Hipster_Nebula wrote:Absolute tin pot, being "owned" by an ST will confine us to the doldrums forever.
My thoughts exactly

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse

Where have this trust got the reported 8 - 15M together to demand that they be considered preferred bidder?

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse

To quote breadman, I smell a rat

Bollotom2014

Bollotom2014
Andy Walker
Andy Walker

This link posted below in Boggers post (opening thread post) via the ST is dated 2014 and alludes to Supporters Direct and has feck all to do with BWFCST. They can't put that as the ground rules simply because there is no ST and when there is, supporters may well vote not to accept it. Unless it's being accepted by the steering group on our behalf, and just wait until the steering group members are given lifetime membership for their efforts and can't be removed. Now I have a nightshift looking at radar screens. I hope the nice folk in the mess have left me some bacon rolls


[You must be registered and logged in to see this link.] Documents/BWFCST - Supporters Community Mutual Model Rules.pdf



Last edited by Bollotom2014 on Thu Jan 28, 2016 11:06 pm; edited 1 time in total

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

"local business"

Sluffy

Sluffy
Admin

Quelle surprise!

Not even established yet, all about openness, being transparent and acting as a democracy, who probably still don't have even a bank account, Supporters Trust - submit for preferred bidder status to a club who although in financial meltdown have for weeks now have stonewalled any bids from several others seeking to take on the club?  Well who would have seen that coming?

I wonder where the £8 million will suddenly appear out of nowhere from to secure the preferred bidder status?

Dodgy as fuck.

Do they all think we are completely stupid or is it just pure arrogance by them that they think they can do whatever they like?

Guest


Guest

Got to agree with the above, there's absolutely no mandate for them to make a decision like this if they were truly concerned with being open and democratic with the fans. 

Not a good situation to be in.

Natasha Whittam

Natasha Whittam
Nat Lofthouse
Nat Lofthouse

It would amuse me if Crispy Cock became Chairman.

Chorley supporters like me are laughing at you.

Guest


Guest

Sluffy wrote:Quelle surprise!


Dodgy as fuck.

Do they all think we are completely stupid or is it just pure arrogance by them that they think they can do whatever they like?

If you take a look at social media this morning, sadly it looks that "we" collectively are indeed stupid enough to fall for this bollocks.

Everywhere you look it's wall to wall comments about what a great development this is and how it's a chance for "us fans" to finally throw off the shackles of dodgy owners and take the club forward.

And this is precisely what whoever's behind the Truss have banked on right from the off - your average Bolton fan is thick. And desperate.

And by "whoever's behind the Truss" I don't mean Smith and Crispy because, as I've maintained all along, someone else is obviously hiding behind the scenes pulling their strings. (Probably from within the club itself.)

I know I'm cynical where BWFC is concerned but it honestly staggers me that so many people are falling for this bullshit.

Maybe Gartside was right all along when he called us fans numpties.

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse

only just seen this as i was out on the piss with Mrs Pig last night so it's a bit of a suprise! i do want an ST to be involved with the club but running it altogether is another thing. We will have to see how much money they can generate first before we all start to panic.

Bwfc1958

Bwfc1958
Tinned Toms - You know it makes sense!

Well well well. Id like to say I'm surprised but I'm not. All the bollocks about the supporters having a say and all the shite about having no intention of buying the club turns out to be lies. 

What happened to the people electing who should be the ones to lead the trust forward? This was the plan all along. They're getting in there before all the nay sayers get a chance to voice their opinion. 

Completely agree with sluffy and Breaders, it's dodgy as fuck and I can't believe so many people are on board with this. It's not a democracy, it's a couple of bandits on a power trip and there's stuff going on behind the scenes we don't know about. 

Not happy at all about this and if it doesnt end in tears I'll be amazed.

Guest


Guest

If you set aside my conspiracy theory about this whole sham being orchestrated by someone from within the club for a sec and take it at face value, it's still doesn't get any better.

Let's say Smith and Crispy are genuinely in charge and they're looking for investment from local business.

They need it quick.

A few weeks ago Disley was all over social media telling anybody who'd listen that he and "his associates" were in a position to buy in and provide "significant funding" which would "guarantee a return to the Premier League within 3 years" - I shit you not, that's what he said.

It honestly terrifies me that Smith and Crispy will probably fall for this bollocks because they're so wrapped up in the notion of owning the club and massaging their egos, that they will snatch his hand off.

And it appears that the majority of Bolton fans are too stupid to question what's actually going on and have already adopted a "we've got nothing to lose" mentality regarding all this, so they'll get taken in as well.

And that's when the fun would start.

Twats like Disley are at their most dangerous when dealing with desperate people because desperate people make poor decisions.

If he's involved anywhere we'll be lucky if we've still got a club in 2 years.

luckyPeterpiper

luckyPeterpiper
Ivan Campo
Ivan Campo

A moment ago I posted that we might look back and think we had a lucky escape because Ken Bates apparently turned us down flat when approached about buying the club. After reading this I think I jumped the gun, even that dodgy dealing, money grubbing twerp would be preferable to this shower. Sluffy was first to come out against them on here and boy was he ever right. I get more and more certain every day that the entire ST is nothing more than a smokescreen orchestrated by ED or someone close to him to ensure his pals get the club for next to nowt and I wouldn't be at all surprised to see Phil make a miraculous recovery just in time to be appointed chairman by our 'new' owners.

Sluffy

Sluffy
Admin

Richard Hurst was on Bolton FM this morning (10am) - listen here (Note it starts about a third way in) -

[You must be registered and logged in to see this link.]


Sluffy

Sluffy
Admin

The gist of the interview seemed to be that the Steering Group (apart from Hurst and the original three amigos) now include a solicitor, a barrister and two financial accountants.

They have drawn up a list of 30 local businesses and individuals that they HOPE will give them money.  In order for them to want to put money in the ST wants to see the books, then come up with a business plan that will see the club trade within it means and make a small PROFIT.

The club has to become financially sustainable and they see greater community involvement and the ST want it to reflect the community - in fact he said they were up to now all white middle aged men and wanted a better reflection of the community including women (and by implication ethnic minority's).

Once they come up with a business plan which will do this they will then contact those on their list of 30 and seek the money to buy the club.

They see the future as sustaining the club for the next 3 or 4 years and make it a success with the intention that a 'white knight' (why not a black knight considering their commitment to being so PC above!) to come along and pump money into the club and take us to the top again.


That's what I heard anyway but I suggest people listen to the interview themselves just to make sure I have not subconsciously put a bias, or misreported, on what I've said above.

Guest


Guest

As for funding, Hurst said they would be "approaching 30 or so local businesses in the hope that they might invest."

Iles reported this on Twitter as: "30 local businesses have offered money."

It's precisely this sort of shite reporting that skews the issue and plays to the ST's advantage.

Iles is a fucking cock.

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