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Bolton Nuts » BWFC » Bolton Wanderers Banter » Dean Holdsworth on verge of takeover

Dean Holdsworth on verge of takeover

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wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Breadman wrote:
This £15 million's got nothing to do with "protecting" the club, it's all about how much he can squeeze out of the club before he finally gets hounded out.
That's patently untrue Bread. If he was just in it for the money he could have written none of the debt off and when the club was closed down he'd get paid back at least half of his £185 million from the sale of assets.

I also find it difficult to quibble over him asking for future payments and tax breaks after the vast fortune his already given the club. 
And now he's given even more concessions to keep the club going - and that's EDs primary interest if the evidence is to be believed.

Guest


Guest

He hasn't written any debt off yet.

Let's all see what happens in court on Monday.

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

Apparently we'll hear some interesting stuff in the next 48 hours.

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

Hipster_Nebula wrote:Apparently we'll hear some interesting stuff in the next 48 hours.


Did you copy and paste this one HN ?

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

No I managed to get access to Marc Iles clipboard on his Lenovo Thinkpad.

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse

Sports Shield "close" but Wanderers takeover agony to continue until Monday
SPORTS Shield’s wait for ratification by the Football League is set to go right down to the wire.

Despite high confidence in the camp that their takeover will be given the green light by officials, the consortium could not complete the deal by close of business on Friday.

If all goes ahead as planned, Dean Holdsworth’s group would be named as the new owners of Bolton [You must be registered and logged in to see this link.] on Monday morning, hours before the club face a third hearing at the High Court over an unpaid tax and VAT bill worth in excess of £3million.

That would make the hearing a formality as part of the £7.5million Sports Shield is putting in from the start to buy the club will be used to stave off the winding up order.
If the consortium’s optimism proves misplaced, Wanderers have a number of options as they head to the hearing on Monday, which will be heard between 10.30am and noon.

They have prepared the ground for administration, appointing well-known financial advisors BDO-UK in the event a takeover looks unlikely or collapses altogether.
If they feel Sports Shield are guaranteed to get the go-ahead from the Football League, it is possible the club could use funds gained from the sale of assets to pay all or part of the outstanding fee.

They could also agree with HMRC to ask the judge for a third adjournment on the strength of the takeover going ahead, although that would run the risk of the request being refused, which would mean liquidation.

Today saw talks intensify between Sports Shield and the legal representatives of outgoing owner Eddie Davies in an effort to strike a deal to satisfy the league.
It is understood that Holdsworth and his proposed board have passed the necessary tests but that there were concerns over an agreement to provide payments to Davies over the next five years based on TV revenue, which also saw him keep £15m of secured debt in the club.

The Football League is concerned that undue pressure could be placed on Sports Shield’s business plan, which has already come under fire in some quarters.
The Wanderers Supporters’ Trust issued a statement on Wednesday asking Sports Shield to provide more clarity on their funding.

Guest


Guest

The Wanderers Supporters’ Trust issued a statement on Wednesday asking Sports Shield to provide more clarity on their funding.

:rofl:

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

I wonder why their business plan has "come under fire" could it be completely amateur? 

who knows. Not me.

observer


Andy Walker
Andy Walker

This time next year, Sports Shield sells to Tamraz for a hefty profit.

Fabians Right Peg

Fabians Right Peg
Andy Walker
Andy Walker

Norpig wrote:can someone explain in plain english why he is leaving £15million in debts in the club? I can't fathom it at all


I thought I read somewhere this was to guarantee the bonus payments that Ed put into the sale, like the TV revenue etc, if SS didn't honour the agreement he had some guarantee.

Doubt it was that clear cut though as it didn't sound right to me.

Sluffy

Sluffy
Admin

From Nixon (yesterday)

Bolton. One senior figure telling staff it will be admin. Another senior figure thinks Holdsworth deal happens. Toss a coin ...

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