Ken Anderson - update.

Hang on a sec....

If you buy into that bullshit about the loan, does that not throw up a conflict of interest on DH's part?

He'a a director / owner of Sports Shield.

And he's also a director of Burnden Leisure / BWFC.

Can he legally loan BWFC money from his own company and charge interest on it to make a few bob?

I thought that shit was illegal?

So either DH is breaking the law or KA is full of shit.

And doesn't the Blumarble loan show up as a charge against BWFC on the Companies' House website?

WTF?

EDIT: Yeah, it does show as being against Burnden Leisure and not Sports Shield, so again....WTF?

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As far as I understood it, Holdsworth (as Sports Shield) borrowed the money from Blumarble and signed over as security the assets of the club.

There is a debenture against the club from Blumarble - fact.

What I could never understand was how he could enter into such an agreement?

He need the Blumarble money to buy the club, so if they leant money to Sports Shield why is the debenture not against them?

How could it be set against the club when Holdsworth was a minority shareholder (he only at best had something like 47.5% of the club with Anderson and the other '5%' holding the rest)?

Surely he could only put up as assets the 47.5% shares in the club he owned?

And if so why aren't those shares in the name of Sports Shield, as being the registered holders? Maybe they are, who knows?

Something happened obviously because the debenture is in place with the club.

Didn't make any sense to me but it must have been legal or it wouldn't have happened.

Seems to me if Sports Shield has taken on the debt and only have the shares as assets - then they should be forfeited to Blumarble if they can't repay the loan.

Maybe all the delay is about taking Holdsworth (and Sports Shield) out of the equation and replacing him with Blumarble (until they sell the shares on).

There is certainly more going on than is being released, the loan thing as I alluded to and you say is secured against club assets so not sure what that is about other than posturing with Holdsworthand telling him it's your shit so sort it out.
there was an article saying there was no fall out between them which in terms of rhetoric is good to hear however there are several passive aggressive digs at Holdsworth every-time KA speaks so that again is bollocks.
In terms of business acumen and resources clearly the right man is in charge, Holdswoth's that far out of his depth it's ridiculous, I just hope moving forward KA's clearly ruthless nature is to our benefit and not our cost.

I don't understand how it can be secured against the club though as Holdsworth never was the majority owner.

Unless for a brief moment he was when he paid his £1 to Eddie, then signed the deal with Blumarble then sold half his shares to Anderson for 50p.

How else could Blumarble be able to put a charge on the club?

If minority share holders could take out massive loans against the club then what is there to stop the loads of individual investors that comprise the remaining 5% shareholders all doing it!

Sports Shield had just £3,000 assets (31st March 2016) just before they took over the club!

Statement of accounts here -

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Sluffy wrote:Sports Shield had just £3,000 assets (31st March 2016) just before they took over the club!

Statement of accounts here -

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Sounds like what we call in the United States, "Hardball," KA is playing.  Deano, as said before, has nothing to contribute, and KA wants all the cards in his possession.  I think we would all say the same thing if we were funding the club.  Makes it more interesting to think that perhaps, as others have speculated, ED was behind the Deano bid and that KA wants to rid himself of the monkey.  Total speculation, but certainly possible.  Otherwise, how did someone with no money wind up with the club... and lose two investors at the table?  KA's spoken words make sense... have the club run at breakeven next season.  It's sad to read that "possibly" the loan deals are in abeyance until the first half monies are paid.  That would align with KA's funding of the club, but refusal to kick in more until Deano puts up his percentage.  Hence, the hardball approach to gaining control and having the club operate self-sufficiently.  To date, through magic, mirrors, or achievement, we are fighting for promotion.  So we can assume that KA wants a club that  gets promoted and then breaks even in the Championship. As he has stated, we would need further investment to support us in the Championship.  My guess is KA has secured interested parties (though he says no one has made an offer)... and now, rightfully, is trying to take control of Deano's shares.  I'm sure the accounting numbers will be a shock to everyone... and I hope KA can steer the ship where he professes he wants it to be.  A second half to play for us... and I hope we stay injury free and continue on 2 points per game.

Latest update -

Chairman Ken Anderson addresses the club's supporters on bwfc.co.uk
Saturday’s game against Crystal Palace in the Emirates FA Cup epitomised just how far this squad has come in what is a relatively short space of time.

That we held our own against Premier League opponents, and on another day could have won the contest, illustrates what talented coaching and playing staff we have at the club.

And what an amazing tie we have in prospect if we manage to win at Selhurst Park! Manchester City at Macron Stadium is the glamour tie that we were all hoping for.  

I hope as many of us as possible travel down to London next week to show our tremendous support and help Phil Parkinson and the team achieve victory. 

I have no doubt that the game against City would be a sell-out, which will represent a fantastic financial opportunity for the club. 

Macron Stadium has become a fortress where teams do not look forward to visiting. That is in no small part down to you, our supporters, who have helped to generate a tremendous atmosphere at our home.

The manager and players are grateful for your support and it is crucial that we build on this for the remainder of the season.

As a Club, we are continually looking at ways to reward our loyal supporters and later this week, we will be announcing our Super 7 ticket offer which will enable supporters to purchase tickets for the final seven Sky Bet League One fixtures at a very good value price.

This will be on the back of the successful half season ticket campaign which saw over 300 people purchase them over the last couple of months.

I want us to populate Fortress Macron Stadium with our very own Super White Army, and to continue to make it a cauldron of noise which intimidates our opponents while motivating our own players to continue their charge for promotion.

Our attendances have grown throughout the season and long may this continue.

People tell me that the atmosphere against Scunthorpe United on New Year’s Eve was the greatest they experienced for many a year. It would be fantastic if this was the case for every game between now and April 30 which could play a big part in getting us over the line.

I was surprised meanwhile to hear comments made by Big Sam regarding the crowd figure at the weekend. The atmosphere was great throughout the tie and both sets of supporters played their part in that. 

Our attendance more then held its own compared to some of the Third Round FA Cup crowds we have hosted since we moved to this stadium in 1997. One could look back at our FA Cup third round fixture against Sunderland back in 2003 when we had a crowd of 10,123 in attendance.

Like I mentioned above, we are pleased with our growing crowds and the passion displayed by our fans.

Our Community Trust meanwhile continues to work diligently around the town and they have resumed their football training courses for all ages and abilities. Please visit [You must be registered and logged in to see this link.] to find out more information about their sterling work.

Congratulations also go out to Gary Madine for winning the PFA Fans' Sky Bet League One Player of the Month award for December. Gary has worked very hard this season and has earned this deserved accolade.  

This means that a Bolton Wanderers player has won this award every month since the beginning of the season. Again, this is a glowing testimony to the progress we are continuing to make.

I had the pleasure of meeting representatives from some of the various fan websites and blogs last weekend. We had a detailed discussion about how we can all work together going forward to ensure that communication between the club and our fans remains the best it can be.

Ahead of Saturday’s game against Swindon meanwhile, I will be meeting with the Supporters’ Trust and Supporters’ Association.  As I have said from day one, I want to be open and honest with our fans and I will always try to make myself available.

I look forward to seeing you all on Saturday for another crucial league fixture against Swindon Town.

Let’s be loud, let’s be proud and let’s get behind the team.
 
Kind regards,

Ken

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gloswhite wrote:I had the pleasure of meeting representatives from some of the various fan websites and blogs last weekend. We had a detailed discussion about how we can all work together going forward to ensure that communication between the club and our fans remains the best it can be.


Did those discussions include Nuts by any chance ?

No.

Nobody was able to meet the criteria set out it post 19 above!

Everyone was very disappointed by the loss to Swindon Town, a game where we had enough opportunities to have finished it off earlier. 


While most teams around us (with the exception of Scunthorpe) also dropped points, I see it as a missed opportunity to move clear of them. 

I think our final pass was just not good enough on the day and you could see that while there were some tired legs out there. Generally speaking it was not one of our better performances. 

Once again though, the noise from another good turnout of our supporters, particularly in the last few minutes, was great to hear, even if on this occasion we didn't get the result we probably deserved. 

That said, we have to treat it as a bad day at the office and move on, pick ourselves up and focus on the challenges ahead.

Prior to the game I had a good meeting with the Supporters’ Trust and the Supporters’ Association. It is important that we keep a close and regular dialogue with both groups. To that end, we will be meeting regularly going forward.

We have a big opportunity to bounce straight back and hopefully, get a result this Tuesday in what will be another difficult away game against Big Sam’s Crystal Palace from the Premier League.

What bigger incentive could everyone have than that of bringing Manchester City to Macron Stadium for what would also be a live TV match. 

I try 'not to count my chickens’, but for each and every one of us to be able to dream 'what if ' for a couple of days can only help to bring that feel good factor back to the town.

I know a great deal of you have bought tickets and I thank each and every one of you for the continued support and sacrifices you are all making to come along and support the team, both with your time and financially.

We have a great number of games coming up thick and fast over the next few weeks, starting with Phil Brown’s Southend United this Saturday. 

They have been on a great run since they played us earlier in the season and we will have to get back to our form of November and December if we are to get a result there. 

Then we have Manchester City or Charlton Athletic to look forward to next at Macron Stadium where we all need to get behind the team to hopefully start another unbeaten run of games at our home ground. 

Finally, an interesting fact that came out in Saturday's edition of The Sun was that we are one of only four clubs among the 92 Football League clubs to have a 100% rate of English scorers this season. (For those that are interested Cambridge, Doncaster and Morecambe are the other three.)

Kind regards,

Ken

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We came so close to victory last night and booking ourselves a glamour tie against Manchester City at Macron Stadium.

Yes, it was disappointing to lose out, but we can take so much pride and heart in both of our performances against Crystal Palace.
 
The amount of effort and passion the players showed in both games was great to see. The fact that we went toe-to-toe with a Premier League side over 180 minutes of football epitomises the drive and determination we have at our disposal. 

Ultimately, the only difference was a £30 million striker coming off the bench.
 
I was also delighted by the support we took to Selhurst Park. Given that the total crowd was around 7,000 (some 4,000 less than the original tie at Macron Stadium), the 1,000 Wanderers fans were in fine voice throughout. 

To have that level of support in midweek and many miles from home was truly impressive. Our support, home and away, has been inspiring this season and long may that continue.
 
Our focus now shifts towards to our Sky Bet League One campaign and our goal of getting back into the Championship. 

With 19 league games remaining, there is still a lot of football to be played and if we can maintain the momentum we have shown already, then there is no reason why we cannot attain our ambition.
 
My thoughts go out to Darren Pratley meanwhile who is set to miss the remainder of the campaign through injury. It has been a massively frustrating season for him and we wish him well with his recovery.
 
We’ve now got Southend United away on Saturday before returning to Macron Stadium the following weekend against Charlton Athletic.
 
Let’s be loud, let’s be proud and let’s continue to back the boys.
 
Ken


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Note Anderson's view of the ST and compare it with what he thinks of the Supporters Association!


Chairman Ken Anderson addresses the club's fans on bwfc.co.uk


I recently held a meeting with a number of the officers of the Supporters' Trust prior to the Swindon game on January 14, which generally speaking was constructive, but I did question the wisdom of their questions and comments to the EFL and what benefits they would bring to the club.

That said, I do respect their independence but have to question the logic of their approach at this particular time in the middle of a transfer window. 

We agreed to have further regular meetings, which hopefully will bring benefits to everyone in the medium to long term. In the short term, I hope they will find ways to work with us on the Academy, which brings benefits to the club and community.

I also met with Alan Houghton from the Supporters' Association, who gave me a great deal of information about the past and how he thinks we can work together and I very much look forward to our future meetings.

With just over a week to go before the transfer window closes, a great deal of work has been going on behind the scenes and the manager and our recruitment team have been actively talking to a number of players/agents and other clubs. 

We have also had interest from other clubs/agents about several of our players, but these have all been rebuked. 

I hope to be able to update you later this week and in my programme notes for the Charlton match this coming Saturday, where hopefully there will be another large turn out as we enter the second part of the season. 

You may have read the comments from Middlesbrough's and Liverpool's managers this weekend about the benefits of the home supporters singing and cheering. I cannot thank you often enough to emphasise just how much this lifts and encourages the team, and long may this continue.

The Super 7 season ticket meanwhile goes on sale next Monday and I hope as many supporters as possible take advantage of this great deal to bolster our support at Macron Stadium for the remainder of the campaign.

Elsewhere, Sammy Ameobi came off the bench for Newcastle United on Saturday for the last 15 minutes. 

We haven't given up hope of him coming back if Newcastle do manage to bring in the players they are targeting or their African Cup of Nations players return early. We are watching matters there carefully. 

One good thing from our point of view is that Sammy cannot play anywhere else this season now as he has figured for two clubs.

It was disappointing that Saturday's game at Southend United was called off, more so for all our excellent travelling supporters who had made their way down to Roots Hall. Our backing on the road has been nothing short of phenomenal.

I also noted an article in The Sun on Sunday which speculated about an imminent sale of the stadium and hotel. Well, much like their claim about a Saudi takeover a while back, this article is also completely false.

I would like to reassure you that any official news about the club will be released to our fans first via our own channels.

There was a slight delay in staff receiving their salaries this month due to some restructuring. Going forward, everybody will be paid at the end of each month which is standard practice.

I look forward to seeing you all at Macron Stadium this Saturday.

Let's be loud, let's be proud and let's get behind the boys.

Ken 




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Chairman Ken Anderson addresses the club's supporters on bwfc.co.uk


Where possible, I want to keep everyone up to date and aware of what's really happening off the field, as well as on the field, at the club - particularly when a great deal of what is being said on social media sites is inaccurate.
 
As I said at the Q&A last year, we inherited a great deal more problems and contracts when we took over in March 2016 than we had envisaged. In my opinion, these were not in the best interests of the club and hotel and are not commercially prudent.
 
Since then we have slowly been working away at restructuring the club financially and whilst a lot has been achieved, there is still a great deal to be done if we are to achieve our aim of getting the club and hotel in a sustainable financial position by the end of next season. 

Many of the decisions we are taking now are not pleasant, but are absolutely necessary if we are to have any chance of being successful, both on and off the field in the future, and we hope you will continue to support us and understand why this course of action is being taken. Sometimes you have to take the medicine in order to get better, even if it is unpleasant.

Paul Aldridge and I had a meeting last week with Cllr Morris and Margaret Asquith at Bolton Council to see if anything can be done to help us with the very high level of rates that the club and hotel are paying whereas other nearby clubs and hotels/businesses are paying a fraction of this. 
 
Unfortunately, this is because of an ambiguity of the rates system and we are still being rated as a Premier League club. The Council are being very supportive and hopefully a solution will be achieved, which would go a long way to helping us achieve a financially sustainable base.

We have made progress with Macron and the current problem has been resolved. We will be holding further discussions with them in Bologna next month, in respect of next season’s kit deal and stadium naming rights.

Discussions with Heathcote & Co, our catering partner, have come to a head, but as it stands the existing agreement is not commercially viable for the hotel and club and the arrangement has to be looked at in more detail if both parties are to move forward and work together. Hopefully both parties will see sense and find common ground. However, if that is not to be, we do have other options.

We continue to hold meetings with some of the players’ agents, professional advisors, sponsors and trading partners involved with the club now and prior to our involvement, with a view to reaching an agreement on the level and validity of their invoices.

Again, this is proving to be far more complex than we could have ever imagined at the outset. Indeed, the savings we have achieved to date are already in their hundreds of thousands of pounds. As I said above, there is still a great deal of restructuring to be carried out, but we are still very much dependent on the continued financial support, patience and understanding of our trading partners if we are to move forward. We continue to look for ways to reduce costs and achieve a sustainable business plan.

Unfortunately, whilst Dean and I had reached an agreement in principle on me buying his shares, but this has not proved possible because of his situation with Blu Marble. 

The Blu Marble documentation with Sport Shield (BWFCSS) is rife with problems and in my opinion, will end up in litigation, as will the documentation between BWFCSS and the club. It is, therefore, unlikely that there will be a resolution of the situation in the foreseeable future. 

Obviously, for legal and confidentiality reasons, I am restricted on what I can say on this matter, but l will try my best to keep you abreast of what is happening at all times. 

The Blu Marble problems have further complicated matters with Deloitte and their audit opinion, but we are working through these together and are hopeful of finding a solution soon. For my part, I have to say Deloitte have been very supportive and their advice has been very helpful and reassuring. 

We continue to look for ways of refinancing the club and have options available to us, but until there is a resolution of the Blu Marble situation, no refinancing can be completed and trading conditions, as I have said above, will continue to be difficult and cash flow is being managed to the best of our abilities and through the continued help and financial support of our trading partners. Unfortunately, this is unlikely to improve in the short term. 
 
Our discussions with Prescot Business Park have been very positive and we have reached an agreement in principle to reacquire the car parks and offices and repay their loan on the hotel. We are extremely grateful for the patience, understanding and financial assistance they have extended us throughout these complicated negotiations. 

Over the next few weeks, we will be introducing commercial opportunities aimed at increasing club and hotel revenues and I hope you will all get behind us and support them, as you always have, to help ensure the future success of the club and hotel.
  
I will shortly be announcing the date when I will be holding the next Q&A session to give you all the opportunity to ask me questions on the above and the filed accounts, as well as anything else.

There has been a great deal of speculation and comment on the transfer embargo following the recent Supporters' Trust comments relating to their correspondence with the EFL and all I can say on this is ‘watch this space’. We do not comment on our transfer targets and business until we have something positive to say.

The last couple of league results have been very disappointing for everyone, but it is even more important now that we pick ourselves up and get back to winning ways, starting with the next game at MK Dons who have been in fine form recently.

In the meantime, please do continue to support your club and attend as many games as you can to help us try and achieve promotion this season. The next few weeks will see a great deal of difficult games and the more of you there to support us, the better.

With that in mind, I hope many of you consider taking advantage of the Super 7 season ticket offer which will enable you to watch our final seven league matches at Macron Stadium for a great price. Visit [You must be registered and logged in to see this link.] for more information.

Kind regards,

Ken

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more worrying news, who is the brains behind this deal?

Although we don’t like to air our dirty laundry in public, I feel as if I have to make a response to the statement Paul Heathcote issued on a social media site on Monday evening and to the notices that were placed by his staff within the Pure Bar at Whites.
 
I have noted the comments he has made and I acknowledge his support of BWFC for a number of years. Hopefully, he will continue to do so.
 
As regards, his comments concerning non-payment, I would make the following observations: 
 
When I first met with Paul, Gary Bates and David Cura back in March 2016, I explained to them that our senior management team and several of the previous board had brought to my attention that they had found that the Special Catering Company (SCC) agreement was virtually unworkable commercially.

Since then, there have been numerous meetings and discussions but unfortunately, to date, no real progress has been made. 
 
Obviously, I have to be careful just how much I say here, but I would mention that SCC have opted not to pay capex (capital expenditure) monies due to us of circa £120,000 in accordance with the agreement and despite numerous pledges made, over many months. 

This has culminated in us choosing not to pay them monies totaling a similar amount to the capex monies due to us. The contract does not mention being able to set off the capex monies against the trading debt but that was probably because this situation was never envisaged at the outset. 

Indeed, we offered to offset one against the other but they declined this offer. They have by prior agreement retained matchday cash sales over the period that is in question. 
 
It’s worth noting that we are one of the largest events venues in the North West, the majority of which is food and beverage sales that contributes to our biggest revenue stream. The agreement is very one-sided and provides them with 80% to our 20% share of this revenue.  

It’s important to note that our 20% has to cover all sales and marketing, maintenance, fees, rates, depreciation, replacement costs etc. As I’m sure you can appreciate, this is unsustainable going forward. 

Furthermore, the agreement states that payment has to be made weekly on the following Wednesday. Often, this means we are being requested to pay monies we have not even received (i.e credit card takings) particularly at weekends and even more so over Christmas and the New Year. 

For the record, monies they are chasing and saying are unpaid are for January and in the normal course of business, would not be due for payment for at least 30 days i.e. the end of February.
 
I am sure you can appreciate the agreement does not make commercial sense for the club/hotel. Indeed, we maintain that it actually costs us money, which is particularly galling when our staff work so hard in marketing and promoting the businesses and often go beyond the call of duty in the effort and hours they put in.  

I have previously mentioned that when we acquired the club that there were a number of contracts/agreements that needed to be addressed and this is one of them, but unfortunately, SCC have categorically refused to discuss the current terms and conditions.
 
He also mentioned that he is concerned about paying his staff but they do have protection in place.
 
I too have a team that I need to protect and the recent threat of refusing or reducing service puts the business under immense pressure. The contract clearly mentions remedies for non-payment, but they do not include threats of winding up actions if payment is only days late or withdrawing services instantly. There is a process and Heathcote & Co have not adhered to it. 
 
There is a great deal more I could say about the conditions of this contract but now is not the time or place. 
 
In conclusion, I have offered to meet with them to see if there is a solution and a better way forward for both businesses, but this has been declined. As always, my door remains open for further discussions

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I don't get this:

Paul Aldridge and I had a meeting last week with Cllr Morris and Margaret Asquith at Bolton Council to see if anything can be done to help us with the very high level of rates that the club and hotel are paying whereas other nearby clubs and hotels/businesses are paying a fraction of this. 
 
Unfortunately, this is because of an ambiguity of the rates system and we are still being rated as a Premier League club. 


Now why should it make a difference what division we are in? 

It does sound to me that whoever negotiated / sanctioned / signed off these deals we have heard about, both on and off the pitch, either felt that money was no object, grossly incompetent, or corrupt and gaining from them in someway or other.

If the decision making in general was based on the same thinking that allowed Coyle to gamble our whole Premier League survival on going 'all in' on signing striker Marvin Sordell, when even a blind man could see we desperately needed a midfield replacement for the injured Stuart Holden, then I would plump for gross incompetence.

Sluffy wrote:It does sound to me that whoever negotiated / sanctioned / signed off these deals we have heard about, both on and off the pitch, either felt that money was no object, grossly incompetent, or corrupt and gaining from them in someway or other.

If the decision making in general was based on the same thinking that allowed Coyle to gamble our whole Premier League survival on going 'all in' on signing striker Marvin Sordell, when even a blind man could see we desperately needed a midfield replacement for the injured Stuart Holden, then I would plump for gross incompetence.

Sluffy - It is indicative of how the operation was run by bumblers and fumblers prior to Ken A.  I'm not saying Ken A won't turn around and take his money and sell on, but I do like the sounds of astute business acumen.  We paid high and sold for next to nothing or nothing... we made deals that as you suggested were either incompetent or corrupt... and there is no one accountable.  I have to think that the late PG, an accountant, knew what was going on.  I wonder if ED had any idea of the financial situation... since this could have been cleverly hidden from him... or if he even cared.  He bailed so quickly that you have to think that one day the manipulation was uncovered and he just wanted to get out with what he could.  The fact that we had managers who grossly overpaid for so called talent belies the fact that the club should have had someone watching over these investments.  Where was the overseer?  From what we read, someone should be held responsible for years of financial disasters.  I like the talk from KA, and I only hope his negotiating skills will bring the club to an even keel.  It's insane to think we signed players for lots of money and on long term deals, and their limited ability gave us a last place finish in the Championship.  Hopefully today we will pick up a finisher to help us in the place we are the weakest.  After the past two league games, it would be a wonder to finish top six.  There are still plenty of points to play for, and with some help upfront we might finish top two.  This is a league we should be on top of, especially with the money we are paying all those benchwarmers who helped get us relegated.  Spot on Sluffy!

Norpig wrote:more worrying news, who is the brains behind this deal?


When I first met with Paul, Gary Bates and David Cura back in March 2016, I explained to them that our senior management team and several of the previous board had brought to my attention that they had found that the Special Catering Company (SCC) agreement was virtually unworkable commercially.

To be honest this gives a massive clue who is being blamed for these contracts in my opinion.

If you think that the clubs management answers to the board and the board answers to the club owner (or his representative), and both the club management and 'several of the previous board' knew something was wrong with the deal...

I don't like to speak ill of the dead but Bloody Gartside........