Dean Holdsworth on verge of takeover

But he's given the club £180m.....oh.

He's writing off the £180m+ debt, so are you suggesting he's made more than £180m in his time owning BWFC?

No.

Go back and read any of the (probably) dozens of comments I've made in the past on here regarding my stance on the alleged debt.

(If you can't be arsed, I'll summarize it: The £180m includes vastly exaggerated levels of amortisation, frankly bizarre "success fees", debts secured against physical assets which were appraised at artificially high levels and various other bits of financial jiggery pokery, done by his mate to make it look like we owed the twat a fortune.)

We don't know he will write the money off, what has been said is he will write the money off if the club is taken over.

It now appears that he may have attached a number of conditions to a takeover which means he will get paid out some of that money, so actually it is not all being written off.

Then there's the question of what happens if there is no buy out?

Will Eddie expect to see his £180m debt, a lot of which is likely to be interest built up over years paid when we enter admin? I expect so and suspect that this is the reason why there is such a large paper debt to guarantee Eddie gets the lions share of any money raised by an administrator.

Natasha Whittam wrote:

Norpig wrote: I'm getting nervous about tomorrow now

Why? They won't wind us up. It took HMRC about 10 goes to get rid of Aldershot, more to get shut of Maidstone. And they had no assets.

We could drag this out for years if we wanted.

Bolded bit is why it took so long for other non asset rich clubs...HMRC were holding on in the hope that money would be forthcoming. Not the case with Bolton, assets are enough to clear the debts so taking legal action more attractive unless of course those assets are all found to be sold off already or mortgaged...no, wait....

So EDDIE has more chance of getting his cash back if we go into administration, than  if he sells the club for peanuts to SPORTS SHIELD.

So  the last few months have been a smoke screen before we go into administration.

Cajunboy wrote:So EDDIE has more chance of getting his cash back if we go into administration, than  if he sells the club for peanuts to SPORTS SHIELD.

So  the last few months have been a smoke screen before we go into administration.

Cajunboy- you'll have to enlighten me on how you arrived at that conclusion as I don't understand  your logic.

I think one thing most everybody is forgetting on all the social media about this, is that Davies owns the club, it is up to him how he runs it, who he sells it to, for how much, what conditions he demands and ultimately if he closes it down.

He took the risk when the banks pulled out and put his money into the club when no one else would.

We were in the same division as we were are now when Davies started to pump money into the club - he had no idea then that we would spend eleven years in the Premier League when he started to pay players wages from his own pocket.

If he's made a killing out of the club then fair play to him - that's what business and taking a financial chance is all about. If he got his fingers burnt instead then why blame him for trying his best to get some of his money back whilst he still in control?

If he's broke the law along the way no doubt he will have to face the consequences sooner or later BUT there is nothing at all to suggest he has. The club published AUDITED accounts annually and up to now ALL the relevant regulatory bodies and FA have not had an issue with the club or Davies.

I find the personal abuse he is receiving absolutely appalling, he's done nothing other to run HIS business how he wanted to, within the law (unless something or other illegal is found in the process of the sale / or the entering of Administration by the club).

Ironically it seems many of the same people abusing him openly would welcome anyone to become the new owner as long as they were loaded irrespective of what dodgy dealings they may have done to gain their wealth in the first place. It is tantamount in my opinion to saying 'better the devil you DON'T know'!!

BWFC is a multimillion pound business in the entertainment business whether people want to accept that or not.

It may have been well run or it may have been driven into the ground but no ones be hurt, no ones been harmed and live still goes on irrespective of what division the club may eventually end up in or who eventually ends up owning it.

Who really gives a fuck if part of the stadium is named after Davies - it will only be ridiculed anyway. Who honestly thinks we are going to end up back in the money under Holdsworth or the Supporters Trust so why give a fig about Davies wanting a share of future profits - I can't see there being any - can you?

If I was negotiating with Davies on these points I would think he's taking the piss and couldn't possibly be serious. If he was I'd counter by saying if he wanted parts of future profits then he also has to fund the same ratio of any future losses too.

I've always said I couldn't understand why anyone would want to buy the club now because it can only run at a loss at least to July 2017 and probably beyond with the fixed cost of players contractual wages. If Holdsworth wants to asset strip the club then maybe it does seem reasonable for Davies to want a share of the money - so yes, include it as a sale condition - that would seem reasonable to me - would it not to you?

If Holdswoth isn't in it to get rich by selling off the assets then what has he to fear about having such a clause - at least for the first couple of years whilst the big contracts run down.

Davies is probably no saint but he's probably no sinner either.

About time people need to engage brain first before spouting anymore filth about Davies in my opinion.

Love this site. Possibly the only place where an unverifiable source is "quoted" by an online character who may or may not exist as saying unprovable stuff and ascribing alleged motives for doing so - generates 9 pages of opinion. Outstanding.

Our potential for speculation is limited only by our imaginations.

Couple of tweets from Iles just now -

As things stand #bwfc will look for 7 day adjournment on strength of deal being close. If court say no, it'll be 2hr adjourment and admin.


Lots of work done today getting paperwork to a certain stage. Hopes high it's enough to warrant extra time. Only court can decide. #bwfc

Deal appears close but then we've been here before. My concern is that some people pushing for admin. Question is, why? Board still silent

Sluffy wrote:I think one thing most everybody is forgetting on all the social media about this, is that Davies owns the club, it is up to him how he runs it, who he sells it to, for how much, what conditions he demands and ultimately if he closes it down.

He took the risk when the banks pulled out and put his money into the club when no one else would.

We were in the same division as we were are now when Davies started to pump money into the club - he had no idea then that we would spend eleven years in the Premier League when he started to pay players wages from his own pocket.

If he's made a killing out of the club then fair play to him - that's what business and taking a financial chance is all about.  If he got his fingers burnt instead then why blame him for trying his best to get some of his money back whilst he still in control?

If he's broke the law along the way no doubt he will have to face the consequences sooner or later BUT there is nothing at all to suggest he has.  The club published AUDITED accounts annually and up to now ALL the relevant regulatory bodies and FA have not had an issue with the club or Davies.

I find the personal abuse he is receiving absolutely appalling, he's done nothing other to run HIS business how he wanted to, within the law (unless something or other illegal is found in the process of the sale / or the entering of Administration by the club).

Ironically it seems many of the same people abusing him openly would welcome anyone to become the new owner as long as they were loaded irrespective of what dodgy dealings they may have done to gain their wealth in the first place.  It is tantamount in my opinion to saying 'better the devil you DON'T know'!!

BWFC is a multimillion pound business in the entertainment business whether people want to accept that or not.

It may have been well run or it may have been driven into the ground but no ones be hurt, no ones been harmed and live still goes on irrespective of what division the club may eventually end up in or who eventually ends up owning it.

Who really gives a fuck if part of the stadium is named after Davies - it will only be ridiculed anyway.  Who honestly thinks we are going to end up back in the money under Holdsworth or the Supporters Trust so why give a fig about Davies wanting a share of future profits - I can't see there being any - can you?

If I was negotiating with Davies on these points I would think he's taking the piss and couldn't possibly be serious.  If he was I'd counter by saying if he wanted parts of future profits then he also has to fund the same ratio of any future losses too.

I've always said I couldn't understand why anyone would want to buy the club now because it can only run at a loss at least to July 2017 and probably beyond with the fixed cost of players contractual wages.  If Holdsworth wants to asset strip the club then maybe it does seem reasonable for Davies to want a share of the money - so yes, include it as a sale condition - that would seem reasonable to me - would it not to you?

If Holdswoth isn't in it to get rich by selling off the assets then what has he to fear about having such a clause - at least for the first couple of years whilst the big contracts run down.

Davies is probably no saint but he's probably no sinner either.

About time people need to engage brain first before spouting anymore filth about Davies in my opinion.

That's all fine and well, but why the whole smoke screen about writing off debt, wanting a future for the club and building a legacy?

The guy is going to get criticism when making such statements but seemingly acting in a way contrary to those aims.

You also need to factor into it all that the club is more than just a weekend diversion for some, it is their livelihoods and this guy has been messing them around for the best part of four months.

There is more to running a good business than just operating within the law, corporate social responsibility is often talked about and for institutions like football clubs should always be a consideration.

It may sound idealised, however Eddie was a custodian not an owner, fans who owned shares stepped aside selling their stake for next to nothing to allow him to take on that role and it now seems he has let those individuals, fans in general and future generations down.

Sluffy your post is admirable. One question..,,, Why is ED intent on putting us into Administration? If he is what you say he is, why has he not paid his employees? I just don't get it. He wants to be lorded, but he wants to destroy our club at the same time. He could've bought a business in any industry sector but he chose a unique industry where supporters claim a virtual share of the club and care how their club is run and managed. He wanted the high profile position of owning a football club, so he should be prepared to face the flack from people that dont want to see a business they have ploughed their precious personal time and hard earned money into to be asset stripped away to nothing. Remember ED didn't fund or build the Rebok Stadium as it was known then, but he certainly wants a piece of it now!

rammywhite wrote:

Cajunboy wrote:So EDDIE has more chance of getting his cash back if we go into administration, than  if he sells the club for peanuts to SPORTS SHIELD.

So  the last few months have been a smoke screen before we go into administration.

Cajunboy- you'll have to enlighten me on how you arrived at that conclusion as I don't understand  your logic.

Sorry, I didn't put my thoughts down very well.

I was posing the question, why is EDDIE making it so hard for a sale to be made if he will be the loser if we go into administration?

It's as though he is continually moving the goalposts to prevent a final sale of the club. While the courts could pull the rug from under him tomorrow.  Why is he playing such a risky game?

I guess I am baffled by his antics and I wondered if in my ignorance , I was not understanding the situation of how administration would affect him.

If there are loans made by him to the club could he gain more as a creditor in administration than a sale for peanuts now.

I would appreciate your comments , as I am plainly floundering due to my lack of knowledge on this subject.

Isn't the truth that we simply don't know all the facts? We are just speculating and casting aspersions based on hearsay, rumour and very little real evidence. 

We certainly don't know the details of meetings/dealings/conversations/thoughts/motives....so it seems to me we are just guessing what might be in the protagonists' minds. It's as pointless as trying to predict results of matches! Rumours abound; most have little substance, I expect.

All we can do is wait and see what transpires. When we know the outcome and the facts surrounding it, then we can legitimately start the accusations..... or the praise.....
Surely we can wait just a bit longer without getting into a lather. It's not as if we can influence matters in any case.
Tomorrow morning looms. Be patient. Reserve your judgements for the moment.

JAH wrote:Sluffy your post is admirable. One question..,,, Why is ED intent on putting us into Administration? If he is what you say he is, why has he not paid his employees? I just don't get it. He wants to be lorded, but he wants to destroy our club at the same time. He could've bought a business in any industry sector but he chose a unique industry where supporters claim a virtual share of the club and care how their club is run and managed. He wanted the high profile position of owning a football club, so he should be prepared to face the flack from people that dont want to see a business they have ploughed their precious personal time and hard earned money into to be asset stripped away to nothing. Remember ED didn't fund or build the Rebok Stadium as it was known then, but he certainly wants a piece of it now!

I've no idea what his intentions are or how well or poorly he has run his business, I was merely trying to put his actions into the proper context as running the club he owns (and bought with his own money) with the intend to make him more wealthy than what he was, rather than some sort of mystical organisation that many, many people believe they have a personal say in because they buy the product every now and again?

People don't get upset by how Warburtons bake their bread because they purchase their loaves every day or so, they don't fret about what PG Tips is currently doing because they buy their tea and they don't get all emotional over a Big Mac because they buy a burger from MacDonalds every now and again so why the belief that a group of highly paid young men kicking a ball about once a week means something central to their very being?

It is a game ffs!

It ultimately is meaningless.

Yes it is fun and the ride has its ups and downs but every August everything is set to zero again and the game begins again for another year.

How then can people get SO abusive over nothing?

It is simply an entertainment.

Yes it is great if we win something and sad if we end up going down the leagues - but isn't that the point of the game in the first place - well isn't it?

How the fuck anyone can get so angry and abusive over it is simply pathetic.

Davies is a businessman not some genocidal, manic, war lord or something.

Get a grip people, there is a real world out there where real shit happens - worry about that and not a game of football or a club owner who appears to have fucked up.

Sluffy for someone who runs a site dedicated to Bolton you seem to have no understanding of what following a team is all about. Supporting Bolton is more than just entertainment for me its an obsession and i would have assumed it would be the same for you since you co-own this site. How wrong i was

Another day of turmoil , good news , bad news awaits us today 10 am I believe we are up in court.

Lets just hope some light is at the end of this awful tunnel.

PS.At what point does David Ngog go away from my posts ? :-)

Diadora wrote:PS.At what point does David Ngog go away from my posts ? :-)

After 25 you get stuck with Mario Jardel, then 75 you get Nicky Hunt. Not sure when the next change is after that.

Sluffy, I hear what you say, and I think your comments are based in truth.
What I do see though, is your frustration at current events, which is the same as the rest of the posters on here. How we express those frustrations is different for each of us.

Eddie Davies has done a lot for the club in terms of where we came from and where we then went.  Some fantastic seasons, brilliant players and cup finals!  It is what he is doing right now though which is frustrating to people.  Egomaniac tendencies wanting anything and everything naming after him.  making people meet stringent criteria and then moving the goal posts on numerous occasions.  Not paying staff he is responsible for.  If he was a fan of Bolton then none of this would have happened IMO, it just shows he does view us as a business, one which he should of maybe stayed clear of if he doesn't have the mentality to do the right thing and see it through rightly.