Sports Shield BWFC Ltd - LIQUIDATED

I presume you're single

Kane57 wrote:I presume you're single

Was it you, Manning, that claimed that ED got £20million from player success fees or some other fruitcake at LOV Towers?

Ten Bobsworth wrote:Here's a good  example of the idiotic brainlessness you get on the BN site posted 45minutes ago:


We NEED a big fish to come in this pond. Eddie Davies must have made all his losses back now and his mate Big Sam has time on his hands , now that would be a great consortium !!
But the American Business consortium sounds promising. First they must buy Deano out and then progress to Ken's. That's how ED took over. How about the board before Eddie , they built the Reebok and Euxton. I wonder if they fancy a comeback ???

I fairly sure the person who wrote that did so with his tongue in his cheek - it certainly made me smile when I read it.

Chickory the quote can be found on the comments of the Bolton News article I'll post up (and link to) immediately after I've completed this post.

Ten Bob, I remember reading the 'Riggins' articles when they were originally posted on the BN (I hadn't realised that you were the author of them until you reminded us in your post).

They made me laugh - mainly because I thought they were funny but there also was an element of amusement because 'Riggins' was at the time a regular poster on Nuts.

Riggins I believe was banned from the BN comments section some months back.


Finally for this post, check out the picture and the statement beneath it - my post below - pure gold, BN at its best!

They have listed Lee Anderson as being Ken Anderson, Ken Anderson as being Dean Holdsworth - and failed to spot Dean Holdsworth altogether who is stood behind them picking his nose!

Bank holiday weekend stalls race for Dean Holdsworth's Wanderers shares

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Bolton Wanderers Chairman Ken Anderson (left) and Club Ambassador Dean Holdsworth..Photographer Stephen White/CameraSport..The EFL Sky Bet League One - Bolton Wanderers v Peterborough United - Sunday 30th April 2017 - Macron Stadium - Bolton

THE ownership race at Bolton Wanderers looks set to last the Bank Holiday weekend with up to FOUR different bids claiming to be working on a deal.
A court decision to wind-up Dean Holdsworth’s Sports Shield BWFC company last Monday has thrown a third of the shares in the club on to the open market.
Liquidators are hoping to conclude a swift sale without the need to interject on behalf of BluMarble, the finance company owed more than £5 million from a loan taken out to buy the club last March.

Chairman Ken Anderson, whose Inner Circle Investments company owns a 57.5 per cent stake, is looking to buy the remaining shares and settle the debt, but has declined to comment on his progress.
At least three other parties are also understood to have made contact with receivers, including a Bolton-based businessman and an Englishman acting on behalf of investors in the United States.
It is understood talks are ongoing, but with no conclusion expected within working hours on Friday the matter is now almost certain to spill over until Tuesday.
If an agreement cannot be reached over the weekend, liquidators will seek investigate how they could raise money on the sale of assets.
The original BluMarble loan was secured against the Macron Stadium itself and the Whites Hotel – although it is likely a legal dispute would be mounted by the club should that course of action go ahead.
The Football League have also confirmed they will meet next month to discuss whether the liquidation of SSBWFC contravenes any of their rules of club governance.

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rammywhite wrote:You know- I'm really fed up with this. I too am a chartered accountant  who can claim to be in his fifth decade of qualification and I too have audited hundreds of companies and  signed off hundreds of sets of Accounts.
We went through all this facile speculation and ignorant assertion a couple of years ago and we went through it time after time after time. People who know nothing about accounting/auditing/financial reporting were wildly speculating on the basis of no knowledge whatsoever,  about what was going on, how Eddie was a crook making millions on the sly, speculating wildly about how much  money he had, where he got it from, who was in bed with him. How the Accounts were manipulated to give one picture when the reality according to the doom- mongers and fantasists was entirely different.
You don't fool people like Deloitte nor will you fool the new auditors Cowgill Holloway. They're not the mafia to be paid off with a few free season tickets.
It's curious how they, on the premises for months looking at the clubs finances got it wrong but self-appointed cognoscenti somehow knew better than the auditors did about what was really happening.
Eddie was brilliant for BWFC- a genuine fan who put his very substantial money where his mouth was and bought us the best years we have had for decades..
I had determined not to get involved with all the nonsense going on in this thread because that's what most of it is- nonsense.
I don't know who ten bob is, but I'm in the same profession as him and its about time some of you listened to what he's saying.
I said the same thing a couple of years ago when all the financial troubles came to a head and its now rearing its ugly head again. . There's no fraud, nobody making millions on the sly- none of the fancy tricks that you imagine happening are happening.
.
I've said my piece and that's all you'll hear from me about all of this because its virtually entirely assertion and speculation based on fantasy.
I'm an accountant-and I deal in facts and reality

Great post Rammy.


Please don't be too hard on us numbskulls (and I include myself in this) who aren't professionals in the financial fields and are simply trying to make out the best we can, what might be happening and why.

I guess it is in a way a bit like our Transfer Rumour thread, very few of us know what is happening but we all like to speculate on things even if 99% of what is said is utter rubbish or well informed information that never actually came to happen.

I think the bottom line is that many of us might know little about the financial side of the club or who the club intends to sign but because we care, we speculate, make the best guess we can, put two and two together, etc, - and still get it wrong.

For us though it is better than nothing and until the accounts were submitted or Anderson told us something - nothing was the only thing we had!

I appreciate how grating that must be for people like yourself Rammy and your professional colleague Ten Bob too.

Rammy and Ten Bob ---->

Sorry if we have upset you both.

Sluffy wrote:

Ten Bobsworth wrote:Here's a good  example of the idiotic brainlessness you get on the BN site posted 45minutes ago:


We NEED a big fish to come in this pond. Eddie Davies must have made all his losses back now and his mate Big Sam has time on his hands , now that would be a great consortium !!
But the American Business consortium sounds promising. First they must buy Deano out and then progress to Ken's. That's how ED took over. How about the board before Eddie , they built the Reebok and Euxton. I wonder if they fancy a comeback ???

I fairly sure the person who wrote that did so with his tongue in his cheek - it certainly made me smile when I read it.

Chickory the quote can be found on the comments of the Bolton News article I'll post up (and link to) immediately after I've completed this post.

Ten Bob, I remember reading the 'Riggins' articles when they were originally posted on the BN (I hadn't realised that you were the author of them until you reminded us in your post).

They made me laugh - mainly because I thought they were funny but there also was an element of amusement because 'Riggins' was at the time a regular poster on Nuts.

Riggins I believe was banned from the BN comments section some months back.


Finally for this post, check out the picture and the statement beneath it - my post below - pure gold, BN at its best!

They have listed Lee Anderson as being Ken Anderson, Ken Anderson as being Dean Holdsworth - and failed to spot Dean Holdsworth altogether who is stood behind them picking his nose!

As you say, typical BN.
Riggins was just one of a long list of idiotic posters on the BN site but he didn't win the 2016 Bonehead of the Year award. That went to Riggermortis. Here's the report:


Good morning, boys. We have a special award to make this morning and some very special guests that I would like to welcome to Lowbrow Academy.


Firstly I would like to introduce Mr Anderson-Shelter who is chairman of our governors and his very good friend and fellow governor, Mr Codswallop.


Mr Anderson-Shelter and Mr Codswallop joined the Board of Governors in March this year following the retirement of our principle benefactor, Mr Davies.


Mr Davies spent more than £175million in supporting the academy since 1999 and in appreciation our governors kindly presented him with a Poundland Gift Voucher to spend on anything he wanted. I am told that Mr Davies decided to spend it on a new trowel to use on his Isle of Man allotment and I hope that it has lasted the summer.


A number of members of staff have left this year to continue their careers elsewhere and we wish them all well especially our former Games Teacher, Mr Lemon. We welcome his replacement, Mr Parkinson, who has been doing very well with the school football team after some early disappointing results against Cheltenham Ladies College and Blackpool Jobseekers Club.


But it is in financial management that our new governors are showing their true mettle. Monthly losses have been slashed to £800,000, the audited accounts have been promised soon and are presently only nine months late and new accountants, Messrs Tickit, Blottit and Scarper, will soon be brought in to replace Dolittles.


You may not have heard of TBS but they have some splendidly refurbished offices in the town thanks to the foresight and generosity of Council Leader, Mr Morris.


Unfortunately I have some sad news to report. Mr Pennyfeather has recently been admitted for treatment in the Asylum for Broken Arithmetic Teachers.


However ABAT has a very good record so we hope to be able to welcome Mr Pennyfeather back in the not too distant future. In the meantime Miss Pickles from the Domestic Science department will undertake Mr Pennyfeather’s duties.
 
Now I would like to welcome the Chief Football Writer from the Bolton News, Mr Marc (I’m no business expert) Iles to present the BN 2016 Bonehead of the Year Award. Competition for this award is always intense but this year it has been fiercely contested and the judges have had a very difficult job picking a winner from so many deserving candidates. However one candidate stood out for consistent idiocy and stupidity throughout the year and I can now announce that this year’s worthy winner is Riggermortis.
 
Please show your appreciation for our invited guests and winner of the BN 2016 Bonehead of the Year, Riggermortis.

Hilarious ten bob !!  

And to mention - I Didn't realise there were so many accountants on this site !!

ChicoryCoffee wrote:Hilarious ten bob !!  

And to mention - I Didn't realise there were so many accountants on this site !!

If I ever get round to doing any more Lowbrow Academy or Sue and Eddie scripts I'll have to see if I can't fit Melanie Frontage into the scene.
Maybe she could take over from Miss Pickles in the Domestic Science department. I expect her big baps would impress the boys no end.

No rush

Kane57 wrote:No rush

‘’I’ll ask you again, Mr Manning, was it you that published the false allegation that Edwin Davies took £20million in player success fees from Bolton Wanderers?’’

‘’No comment’’

‘’If it was not you, who was it that was responsible for the falsehood?’’

‘’No comment’’

‘’Were you aware that, a little over a year ago, the Bolton News published an article containing the equally false allegation, that the money from the sale of Nicolas Anelka was not reinvested?’’

‘’No comment’’

‘’Was anyone at LOV Towers aware that both of these falsehoods were being challenged on the Bolton News website?’’

‘’No comment’’

‘’Did you or anyone at LOV Towers take any action as a result of these challenges?’’

‘’No comment’’

‘’Did you or anyone at LOV Towers apologise for making false allegations detrimental to the reputation of Edwin Davies?’’

‘’No comment’’

‘’Thank you, Mr Manning, I have no further questions for now.’’

Wasn't really an allegation, more like my interpretation of the numbers.

COMMENT: Clock is ticking on Bolton Wanderers' ownership issues

MAKING sense of the convoluted ownership battle for much of the last week has been an exercise in futility but there is one thing on which all involved can agree.
Time is of the essence for Wanderers, just as it was 18 months ago when a different cast played out the drama at the Macron Stadium.
Back then, Dean Holdsworth’s joint venture with Ken Anderson was the only option which sought to avoid administration and a guaranteed 12-point deduction, which would have accelerated the club’s drop towards League One.

The loan taken out with BluMarble to fund early stages of the takeover was only meant to be a short-term measure. Failure to refinance in the first few months led to the implosion of Holdsworth’s company, Sports Shield BWFC, and more than a third of the shares in Wanderers’ parent company Burnden Leisure Ltd being placed into the hands of receivers last week.
Now at least four parties are rushing to pick up the slack. And once again the clock is ticking.
A short window of time was granted by the liquidators for someone to strike a deal without the unpleasantness of reclaiming BluMarble’s £5million-plus debt by other way and means.
By all accounts, that period of grace ends at close of play Tuesday. This weekend has seen a rush of offers, counter-offers and negotiation which has yet to produce a conclusion but at least raises hope one can be found.
If the liquidator has to intervene, raising cash is not as simple as it might be in most cases. There is a question over BluMarble’s security on the stadium and hotel, as per the original paperwork signed last March. This may yet ‘go legal’ and drag the matter out further.

It may be BluMarble are offered equity as an option – although it is difficult to see what good 37.5 per cent of a football club would be to a finance company who simply want their money back, and whose patience thus far has been quite admirable.
Ken Anderson owns the majority share of 57.5 per cent and, thus, there is little gain by coming on to the board as a minority shareholder.

The real power, it appears, lies in control of the BluMarble loan – and that is currently what all involved are scrambling to secure.
While all this goes on behind the scenes, the impact on the pitch is already being felt.
Phil Parkinson’s side has taken just two points from their five games thus far and sit bottom of the Championship. A tough season was expected but by the manager’s own estimation, the team is behind schedule already.
Until ownership issues are settled there is no chance of the EFL removing the transfer embargo and allowing Parkinson to supplement his squad freely. Until then, it appears a case of ‘one-in, one-out’.
Of more pressing concern is the EFL’s stance on what is happening at Wanderers.

The league has already flexed its muscles by fining Watford £4.3million for breaches of its operational regulations and will review Bolton’s case in a board meeting next month.
Anderson warned of “detrimental knock-on effects” when SSBWFC was wound-up but there is some doubt whether a points deduction would be applicable – with legal opinion already sought in some quarters. Even still, the mere hint of a 12 or 13-point penalty has been enough to set tongues wagging.
Parkinson needs stability, not uncertainty, and the last thing we want is a repeat of the last spell in the Championship, when performances on the pitch played second-fiddle to what was going on off it.

Whoever gets their way, the squad needs investment. And with just a few days remaining until the transfer deadline you would have to be a staunch optimist to think this mess will be unravelled in time for Parkinson to sign the players he so desperately needs.
Can a conclusion be found without the need for further litigation - and potential red flags raised in the eyes of the EFL?
As ever, we live in hope.

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Kane57 wrote:Wasn't really an allegation, more like my interpretation of the numbers.

'Interpretation of the numbers?' That's a good one. Why didn't I tink of that,Ted?
Maybe Dominic Chapell could try that one when he  goes on trial

For what it's worth, I think 10/- joining has been an excellent move, and I believe he explains the machinations of the financial gamesmanship far better than anyone before. I was aware that Rammy is  also heavily involved with bean-counting, and it was very pleasing to see him endorse 10/- views, comments, and support of the club, especially ED's integrity.
The nearest I have ever come to accountancy is knowing my wife's cousin, (CA), and she has tried on numerous occasions to explain things to me. I know it's not easy, and when combined with different aspects of the law, HMRC, etc, it beckons a black art.
I've worked hard following this thread, but thoroughly enjoyed it. Regards the club, I left on saturday for 12 days in Marbella, and it all goes to ratshit. I just hope it's sorted by the time I get back, but whatever happens, please stay, all of you, on the forum.

He's certainly a character. Plus i believe this place is the last one before he's banned from everywhere.

Kane57 wrote:He's certainly a character. Plus i believe this place is the last one before he's banned from everywhere.

Well most of us have been banned from somewhere on the web - even you!

The bottom line...
We want this all to end quickly. We want to be out of financial restraints. We want players who can pass like the Hull players of this past week... oh boy could we use passing like that! We want to have a chance to finish 21st or above. Don't bother with the math... we are on a 18-19 point season (yes, we've played against some of the better clubs). That still leaves us short of the 30 points and relegation of two years back. We need some better players... we need some of our injured players back... and we need a quick resolution to the financial woes. One can hope!

Sluffy wrote:

Kane57 wrote:He's certainly a character. Plus i believe this place is the last one before he's banned from everywhere.

Well most of us have been banned from somewhere on the web - even you!

You'd be surprised - it's a list of precisely zero places

Kane57 wrote:

Sluffy wrote:

Kane57 wrote:He's certainly a character. Plus i believe this place is the last one before he's banned from everywhere.

Well most of us have been banned from somewhere on the web - even you!

You'd be surprised - it's a list of precisely zero places

You've never been banned on the Wanderer, really?

"Batman has been subject to a permanent ban from this site for some time"

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I think you have you little tinker!

Kane57 wrote:He's certainly a character. Plus i believe this place is the last one before he's banned from everywhere.

Are you ever truthful about anything, Manning? I have never had any difficulty with the administrators of any site but have kicked three into touch because I can't be bothered dealing with slimeballs like you.
We'll haveto see about this one but maybe a few Nutters are beginning to see you for what you are.