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What happened to the takeover? I thought it had to happen by Friday?
Dean Holdsworth on verge of takeover
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Chairmanda
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182 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:01
Guest
Guest
Apparently not.
ED's got to demonstrate that we're still a going concern and satisfy the beak that HMRC will get their money on Monday and that's where the confusion comes in about deadlines and shit.
To keep up the charade that he's taking this seriously, he's deigned to grant SS preferred bidder status, ie they get first dibs on looking at the books before they panic and run away.
This happened on Thursday but nobody on either side's saying owt and Iles hasn't got a clue what's going on, so we don't even know if they've looked at them yet.
But at least Big Ed can send his boys to the High Court on Monday and they can say in good faith (and thus avoid perjuring themselves) that, on paper at least, a deal is close to happening.
Even though it's patently not.
I would presume that the hope is that the beak will look favourably upon this development and not wind us up on the spot.
The stumbling block is obviously the outstanding payment of a reported £3m to HMRC - it was they, afterall, who initiated the winding up petition.
It looks like the money to pay them should be available after various bits of the club were sold off last week (car park and training complex) but I've got a nasty feeling that ED will try and pull a flanker when his boys negotiate with the powers that be to set up some sort of payment schedule which will allow him to only pay a fraction of what's owed and then pass on the bulk to whichever mug winds up buying the club, as that's how it's looked all along to me - Eddie don't do paying tax.
Worst case scenario would appear to be that the beak finds in HMRC's favour and ED gets stung with a bill for the whole £3m in one hit which is payable immediately to avoid the club being wound up.
As I say, this money could be available, but we don't know the payment terms of the sale of the club's assets and I doubt Wigan have handed over a bag with £2.2m in it, in used tenners so you never know - he might just say: "Can't pay now, no money" and we get wound up.
So all the talk of take over deadlines is a red herring in my view and we're all still at the mercy of whatever game ED's playing as he desperately continues to flog stuff off and implements his exit strategy.
Apologies to Rammy and Manda if I'm (very possibly) talking out of my arse....again.
ED's got to demonstrate that we're still a going concern and satisfy the beak that HMRC will get their money on Monday and that's where the confusion comes in about deadlines and shit.
To keep up the charade that he's taking this seriously, he's deigned to grant SS preferred bidder status, ie they get first dibs on looking at the books before they panic and run away.
This happened on Thursday but nobody on either side's saying owt and Iles hasn't got a clue what's going on, so we don't even know if they've looked at them yet.
But at least Big Ed can send his boys to the High Court on Monday and they can say in good faith (and thus avoid perjuring themselves) that, on paper at least, a deal is close to happening.
Even though it's patently not.
I would presume that the hope is that the beak will look favourably upon this development and not wind us up on the spot.
The stumbling block is obviously the outstanding payment of a reported £3m to HMRC - it was they, afterall, who initiated the winding up petition.
It looks like the money to pay them should be available after various bits of the club were sold off last week (car park and training complex) but I've got a nasty feeling that ED will try and pull a flanker when his boys negotiate with the powers that be to set up some sort of payment schedule which will allow him to only pay a fraction of what's owed and then pass on the bulk to whichever mug winds up buying the club, as that's how it's looked all along to me - Eddie don't do paying tax.
Worst case scenario would appear to be that the beak finds in HMRC's favour and ED gets stung with a bill for the whole £3m in one hit which is payable immediately to avoid the club being wound up.
As I say, this money could be available, but we don't know the payment terms of the sale of the club's assets and I doubt Wigan have handed over a bag with £2.2m in it, in used tenners so you never know - he might just say: "Can't pay now, no money" and we get wound up.
So all the talk of take over deadlines is a red herring in my view and we're all still at the mercy of whatever game ED's playing as he desperately continues to flog stuff off and implements his exit strategy.
Apologies to Rammy and Manda if I'm (very possibly) talking out of my arse....again.
183 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:32
rammywhite
Frank Worthington
Bredders- to be honest I don't know . I've got so bored with the whole charade that I've stopped paying much attention to it. One thing that I can say though, is that if giving a preferred bidder a time limit of looking at the 'books' of about 24 hours is nonsensical. Carrying out effective due diligence in a situation like this will take weeks and not hours. I would hope that some sort of presentation of the financial situation to interested parties has already taken place during prior negotiations as you can't get a real grip on a situation like BWFCs financial position quickly. Contingent liabilities ,such as deferred transfer fees (in and out), pension liabilities, outstanding loan agreements, securitising season ticket sales, asset ownership and charges on assets, takes a long time to establish.
Anyone who buys on the basis of looking at the 'books' over a weekend deserves all the bad stuff that's coming to them.
I suspect that there might be a grain of truth in the view that showing that a sale with a genuine cash injection to meet outstanding liabilities is imminent might be a ploy to get a further adjournment in the High Court on Monday.
It will probably work as well.
Anyone who buys on the basis of looking at the 'books' over a weekend deserves all the bad stuff that's coming to them.
I suspect that there might be a grain of truth in the view that showing that a sale with a genuine cash injection to meet outstanding liabilities is imminent might be a ploy to get a further adjournment in the High Court on Monday.
It will probably work as well.
184 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:43
Guest
Guest
Cheers Rammy.
Now you can get back to laundering those blood diamonds for your Ghanaian warlord boss.
Now you can get back to laundering those blood diamonds for your Ghanaian warlord boss.
185 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:44
rammywhite
Frank Worthington
Breadman wrote:Cheers Rammy.
Now you can get back to laundering those blood diamonds for your Ghanaian warlord boss.
I wish!!
186 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:49
Guest
Guest
What you doing over there?
(Please say you're a spy working for MI6)
(Please say you're a spy working for MI6)
187 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 13:57
rammywhite
Frank Worthington
Breadman wrote:What you doing over there?
(Please say you're a spy working for MI6)
I'm lecturing in finance at one of the major universities over here for a few days. That's the primary purpose.
Actually I'm wasting my time- but I'm getting well paid for doing so and picking up a lot of air miles. And it's warm and sunny as well..
..and tonight I'm working for MI5 (or 6?)
188 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 14:01
Guest
Guest
Sounds great!
It's pissing down here.
Enjoy, you jammy, Rammy git.
It's pissing down here.
Enjoy, you jammy, Rammy git.
189 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 14:04
Sluffy
Admin
I have mentioned it before but I think it is relevant so I'll bore you all by saying it again but I can't understand how anyone can make money from the club in the foreseeable future - so I can't really understand why anyone would want to own us for football reasons.
We are running at a monthly loss of circa £1 million plus each month until the end of June - because of the players huge contractual wages.
The thing is though many of them are contracted beyond the end of June 16, for at least another year and IF we can't move them on in the summer we will be running at a hefty monthly loss for at least another year, maybe more!
Davies 'owns' the club, so why should he give what's left of the club to someone else to asset strip?
As far as I can see it he might as well strip the assets for himself than let someone else get the money for them - if that is indeed what he is doing I couldn't blame him as who else wouldn't do the same thing in his position?
The only other viable alternative I can come up with is that he somehow hands what remaining assets there are left to the ST for them to sell/mortgage off to keep the club ticking over until all the big contracts are gone and we are left penniless in the hands of the ST for them to run us in the bottom divisions until everybody gets fed up with the constant failure and the ST are finally bought out and someone invests in us again.
The only other hope we have is that Roger or some other random billionaire does fancy a football club as a plaything - but I don't hold out too much hope of that.
Maybe Rammy can find us one in Ghana please?
We are running at a monthly loss of circa £1 million plus each month until the end of June - because of the players huge contractual wages.
The thing is though many of them are contracted beyond the end of June 16, for at least another year and IF we can't move them on in the summer we will be running at a hefty monthly loss for at least another year, maybe more!
Davies 'owns' the club, so why should he give what's left of the club to someone else to asset strip?
As far as I can see it he might as well strip the assets for himself than let someone else get the money for them - if that is indeed what he is doing I couldn't blame him as who else wouldn't do the same thing in his position?
The only other viable alternative I can come up with is that he somehow hands what remaining assets there are left to the ST for them to sell/mortgage off to keep the club ticking over until all the big contracts are gone and we are left penniless in the hands of the ST for them to run us in the bottom divisions until everybody gets fed up with the constant failure and the ST are finally bought out and someone invests in us again.
The only other hope we have is that Roger or some other random billionaire does fancy a football club as a plaything - but I don't hold out too much hope of that.
Maybe Rammy can find us one in Ghana please?
190 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 14:11
Bollotom2014
Andy Walker
Well, THE Friday passed. The one that was a red letter day for BWFC and the lucky incumbent owners of our glorious footie club. Then on Thursday, a hiccup (hiccough) so that someone, guess SS, could look at the books. It's like handing a little notebook full of figures that shows our trading? No, it's a whole mess of who did what when and the cost or reward and as Rammy points out, not summat to be done in a day. So we get another delay which leaves us 48 hours (damn!) to our Appointment in Samara except this time it will be at the devils behest. Monday morning, Judge not had his oats, cold breakfast, heavy commuter traffic and he stood all the way from Narnia to his office so is suitably pissed off. HMRC lay out the tactics that could be construed as deliberate delaying ploys and the judge can't be arsed listening and orders winding up. On the other hand he might be a closet Trotters supporter and give ED some more time. But if he does I would expect an over riding comment along the lines of "More time but don't do this again." With a thousand yard stare and a drum-roll of gavel banging. Whatever, it isn't going to be pretty. I'm going on duty later for a full 12 hours and Saturday in the skies is more of a bugger than Monday. Fingers crossed for a result against QPR with a reflected result on Monday. Have a very good day. We, suffering fans, deserve it.
191 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 14:14
Guest
Guest
That's where I was going with my Ghanaian warlord comment and the blood diamonds, Sluff.
My moral compass is on hiatus and I no longer care where the money comes from.
We need lots of it and we need it now.
I don't care if it comes from the toil of small children down dangerous mines somewhere in darkest Africa.
I'll just make up for it by giving a tenner to Comic Relief or something later.
Sort it, Rammy.
My moral compass is on hiatus and I no longer care where the money comes from.
We need lots of it and we need it now.
I don't care if it comes from the toil of small children down dangerous mines somewhere in darkest Africa.
I'll just make up for it by giving a tenner to Comic Relief or something later.
Sort it, Rammy.
192 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 18:51
Hipster_Nebula
Nat Lofthouse
Heard some rumblings that we'll know a LOT more in 48 hours.
193 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 19:13
gloswhite
Guðni Bergsson
I wouldn't count on it HN. I don't know what ED is up to, but the only certainty we have is that nothing is certain.
194 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 19:28
rammywhite
Frank Worthington
Breadman wrote:That's where I was going with my Ghanaian warlord comment and the blood diamonds, Sluff.
My moral compass is on hiatus and I no longer care where the money comes from.
We need lots of it and we need it now.
I don't care if it comes from the toil of small children down dangerous mines somewhere in darkest Africa.
I'll just make up for it by giving a tenner to Comic Relief or something later.
Sort it, Rammy.
On my way back tomorrow night- and the missus will ne surprised with what I'm bringing back with me!
195 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 19:30
Guest
Guest
With you or inside you?
As in, up your......you know......?
As in, up your......you know......?
196 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 19:31
karlypants
Nat Lofthouse
Breadman wrote:With you or inside you?
As in, up your......you know......?
197 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 19:31
rammywhite
Frank Worthington
Breadman wrote:With you or inside you?
As in, up your......you know......?
It might end up ,up there if I'm not careful!!
198 Re: Dean Holdsworth on verge of takeover Sat Feb 20 2016, 23:10
Sluffy
Admin
Hipster_Nebula wrote:Heard some rumblings that we'll know a LOT more in 48 hours.
Apparently the radio commentators said something before todays game kicked off.
I didn't hear it myself or seen it mentioned anywhere else but on JA606 but seeing they listen to the match via Radio Nuts - yet ban people for mentioning our forum even exists - I don't feel too bad about posting what was said at the time by the two people who heard it -
- listening to local radio, sounds like there's gonna be a raised eyebrows in the next few days. They refusing to go on record, but say they have it on reliable sources.
- Listening to the commentators at the match there is a lot of really bad stuff about the club due to be revealed this coming week. They won't reveal it on air at the moment because they have been given the information in confidence so that they don't come out with anything that makes them look stupid when the facts are revealed. Make of that what you will but it doesn't bode well.
I don't know what the news will be but we can guess it won't be good and it would seem that a person or persons will be implicated in something that isn't great
- I hear the report as, there may well be some libellous remarks and accusations to come
- Not listening to local radio. Finishing pint off in Scotts. You guys are worrying me. Whats going on. What they saying?
- They won't give the facts Benny but it sounds serious.
- It's obviously been leaked to the press and radio so I expect that one or more of the bidders are going to reveal some unsavory goings on.
- reading between the lines.. there may well be some quite bad news to come out of the club.
there has got to be something hiding in a closet in one or maybe a couple of the Macron offices.
- Thinking about it, we know there are problems with Deano's bid, perhaps his advisers have found something in the books.
- I don't believe it was anything to do with share purchase, but could well be this other thing that no one will talk about
Make of that what you will!
199 Re: Dean Holdsworth on verge of takeover Sun Feb 21 2016, 00:34
observer
Andy Walker
I for one, would tend to agree with you Sluffy... since I expect there are three sets of books... unexpected loans or debts... and hidden skeletons in every closet. I believe that when PG got sick, the proverbial s**t hit the fan. Eddie wanted to bail since his protector was very ill, in fact gravely ill. Obviously lots of secrets are buried with PG... and there are two questions... one is whether Eddie really knew the score or was it hidden by PG from him, or two, Eddie knew and went along with PG. Either way, it will take a good buyer to sort out what is left.Sluffy wrote:Hipster_Nebula wrote:Heard some rumblings that we'll know a LOT more in 48 hours.
Apparently the radio commentators said something before todays game kicked off.
I didn't hear it myself or seen it mentioned anywhere else but on JA606 but seeing they listen to the match via Radio Nuts - yet ban people for mentioning our forum even exists - I don't feel too bad about posting what was said at the time by the two people who heard it -
- listening to local radio, sounds like there's gonna be a raised eyebrows in the next few days. They refusing to go on record, but say they have it on reliable sources.
- Listening to the commentators at the match there is a lot of really bad stuff about the club due to be revealed this coming week. They won't reveal it on air at the moment because they have been given the information in confidence so that they don't come out with anything that makes them look stupid when the facts are revealed. Make of that what you will but it doesn't bode well.
I don't know what the news will be but we can guess it won't be good and it would seem that a person or persons will be implicated in something that isn't great
- I hear the report as, there may well be some libellous remarks and accusations to come
- Not listening to local radio. Finishing pint off in Scotts. You guys are worrying me. Whats going on. What they saying?
- They won't give the facts Benny but it sounds serious.
- It's obviously been leaked to the press and radio so I expect that one or more of the bidders are going to reveal some unsavory goings on.
- reading between the lines.. there may well be some quite bad news to come out of the club.
there has got to be something hiding in a closet in one or maybe a couple of the Macron offices.
- Thinking about it, we know there are problems with Deano's bid, perhaps his advisers have found something in the books.
- I don't believe it was anything to do with share purchase, but could well be this other thing that no one will talk about
Make of that what you will!
Losing the two points today (and watching the last goal made me sick... Amos really does suck; Moxie we knew sucked; and Madine was a non-existent entity... losing those two points could point to administration in court.) If we were 4 behind, ED may have paid up. At 6 behind, who knows. He may try and get an extension by paying it off over time. I can't imagine the government not taking 1/3 of the money now or 1/2 the money now versus winding the club up.
While many have said you have overreacted to the ST, it is rather strange the way things played out. I, like you, find it difficult to understand the actions that have transpired, unless someone, such as a board of director, is pushing the scenario along. As we understand from politics, nothing that you see is often what it is. I think we will find the same thing from whichever books are opened by the club.
I'm still sick over losing the 3 points today. We would be out of the relegation area if:
we were able to hold leads
we didn't fall in the final minutes
we had Wheater back
we had Clough, Clayton and Trotter back all season
Lennon had a clue (yes, as he said, you are judged by results... another nice guy who has not achieved results)
had we bought ALF (how many sitters have we missed)?
This may be the week of truth... or it may drag out for weeks. We'll see... but I don't think you are on a witch hunt... but being quite rational in your assessment of this nonsense.
Why can't we get Apple or Google to buy our team?
200 Re: Dean Holdsworth on verge of takeover Sun Feb 21 2016, 09:56
Boggersbelief
Nat Lofthouse
Ken Anderson is the agent involved in Holdsworths consortium. Anyone got info on him?
He was involved in failed takeovers of Ipswich and Liverpool and sounds pretty Dodgy.
He was involved in failed takeovers of Ipswich and Liverpool and sounds pretty Dodgy.
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