Ken Anderson - update.

Norpig wrote:How do you know he didn't use his own money to buy Deano's shares Lusty? 

The papers said he restructured the loan deal using the club's assets as collateral so effectively the club (not Anderson) took on Deano's debt.

No money was handed over - Anderson just passed the bill to the club, effectively getting Deano's shares for free but saddling the club with the repayments.

Well the efl seem happy enough to let us sign players again. But what do they know.  They wont be looking into every single little thing and have access to information that we cant see will they.

£25 mill and the club's yours, mate:

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Bread2.0 wrote:£25 mill and the club's yours, mate:

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Was it £10m he paid?

I can't remember.

£1

Not sure where I got my figure from then.

£15-20m pays off the hard debts and leaves Ken a nice profit

Indeedy.

Shall we have a whip round?

Kane57 wrote:£15-20m pays off the hard debts and leaves Ken a nice profit

I was starting to feel a bit bitter until I read this.

Have you been asleep for the last 9 months?

Probably.

Kane57 wrote:£15-20m pays off the hard debts and leaves Ken a nice profit

Fair play to him then.


But first of all he has to find someone willing to pay it AND (I would imagine) have even more millions to invest into the club - otherwise why spend £25 million on a club looking odds on to be relegated and with a near 35 year old midfield defensive player as our answer to stop the team leaking goals?

IF Anderson does find someone willing to strike a deal with AND spends money to make the team better - isn't that what everybody has been wanting all along?

I can't see why anyone is making Anderson out to look bad - he simply took on a club close to financially imploding, kept it afloat, restructured it, got it promoted and presumably will now find us a richer owner to take us forward in the future.

Why are people believing Anderson is the bad guy - what exactly has he done wrong - because I can't see anything?

Can you?

Who said he was?

Who can answer this. If anderson hadn't of stepped in when he did what would of happened

y2johnny wrote:Who can answer this. If anderson hadn't of stepped in when he did what would of happened

We would have enter Administration, almost certainly with Trevor Birch involved.

Birch was the man who asked the ST to put in for Preferred Bidder status and so it would have seemed reasonable to suspect that the club would have come out of Administration with the ST as owners.

They of course could not afford to run the club and thus they would have had to sell assets or borrow against them, as well as selling players.

As the ST do not have millions to cover cash flow, the sales and or borrowing would have been considerably worse than under Anderson who is on record of covering cash flow shortfalls out of his own pocket.

At best we would have had Phil Brown as manager but (because Brown was already in a job and the ST had no money to buy out his contract) we would more likely to be being managed by Peter Reid.

We would not have won promotion last season and more than likely would be struggling at the bottom half of League One, if not already have been relegated to League Two by now.

All speculation on my part admittedly but it all seems very plausible to me that something similar would have occurred.

Kane57 wrote:Who said he was?

Plenty have made Anderson out to be a 'wrong un' and only here to simply asset strip the club, make a killing and run off with all the money - since he rocked up with Holdsworth.

I simply can't understand why though?

What exactly has he done that people don't like?

As far as I can see he's done an excellent job so far and if he sells us on to someone prepared to invest substantially more money into the club, then he deserves to reap some financial benefit for doing so.

Fair play to him if he can pull this off.

I have to agree with Sluffy on this one and that's not something i say too often on here 

The King has spoken! 

I have seen today’s article in the Bolton News and comments on social media and would like to clarify a number of matters.

Nobody has been instructed or retained to sell the club.

Over the last 12 months, we have received many enquiries from China, America, Canada, the Middle East, Eastern Europe and the UK.

This does not surprise me and is vindication of my previous comments. The club has a fantastic infrastructure and has a well-regarded history.

The stadium, in its 20th year, is iconic and contains an award-winning hotel which has a thriving conference and events business as well as a high room occupancy.

The stadium and our ancillary businesses are a truly 365-day operation which ultimately helps to drive revenue for the football club.

As I have always said, if any individual or group is able to invest significant resources and has the club’s best interests at heart, then I will be willing to hold discussions with them.

The sales document that has been referred to is what is generally known in corporate finance circles as a ‘teaser’.

It outlines the value of the club and its assets. Obviously, any serious investor needs to have this information. The information is also required by financial institutions when looking at refinancing.

Since l have been involved with the club, my aim was to get the club promoted back to the Sky Bet Championship and that was achieved at our first attempt during the very difficult circumstances of having to operate under a transfer embargo and the financial legacy we inherited.

My job now is to try to ensure that we retain Championship status this season and continue to work towards achieving a sustainable financial model, and l am confident that with the continued support of our fantastic staff and supporters both of these tasks will be achieved.

Hopefully, the above will help clarify matters.

Ken

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The day has finally arrived although I thought Anderson would have waited until we consolidated Championship status so that the additional income could be incorporated into the books and his exit payment would be higher so perhaps our league position and recent results have brought this forward i.e. maybe he doesn't really think we'll survive this season.

Kane wrote:£15-20m pays off the hard debts and leaves Ken a nice profit

But hang on a mo....the article says the £25million is for Anderson's shares. It also says that the club will be sold without any structured debt. What it doesn't say is that the structured debt i.e. BM, Warbie etc will be paid out of the £25 million. Is it possible that Anderson is even greedier than I think and intends to divert all current profits into paying off the structured debt at the expense of investment in the team and the rest of the club leaving him with a cool £25 million? I doubt it but I wouldn't put it past him. We'll see.

Any new investor is likely to need at least £50 million in reality, but at least this teaser will deter timewasters.