Ken Anderson - update.

T.R.O.Y wrote:A long but interesting (and balanced) assessment of Anderson at Bolton here for anyone who fancies a read:

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Further costs related to Ken Anderson, the club owner who was previously barred from being a company director in the UK for eight years.

As someone who used to work in the insolvency industry, you would have to irritate the authorities a huge amount just to get a telling off, so his behaviour in achieving an eight-year ban (which expired a few years ago) must have been spectacular in terms of poor governance and transparency. David Conn, The Guardian’s superb rottweiler like investigative journalist, uncovered some of Anderson’s past that does not paint him in a particularly good light.

Bolton’s ‘rogue chairman’ Ken Anderson puts EFL ownership rules under scrutiny | Football | The Guardian

Anderson was paid £525,000 for his services via Inner Circle Investments Limited, a company he set up in 2015 with an investment of £1 of shares.

By having such an arrangement, it allows him to legitimately say that he is not being paid a salary by Wanderers.

Inner Circle Investments Ltd appears to be little more than an investments vehicle, as the only asset it owns is a 95% share in Burnden Leisure.

In addition, £125,000 was paid to another member of the Anderson family, which appears to Ken’s son Lee Anderson, via something called the Athos Group. A trawl of Company’s House reveals that Athos Group is a services company that seems to have no executive called Lee Anderson. It would therefore appear that Lee was paid for consultancy or other work, such as modelling BWFC leisurewear.

Seemingly a fair assessment of the Anderson years.  What can we deduce from this?  Clever verbiage and sly accounting (not illegal) have given the Anderson's a generous payday for their guardianship of the club.  Apparently, he doth protest too much... saying he paid the players out of his pocket when in fact, it was the PFA who in fact did.  The club is still not breaking even... but give credit to Anderson for reducing costs... but at what cost to our survival in the Championship?  Madine has not been replaced by anyone with substance, and LeFondre's exit has cost us a finisher.  Looking at the games played, we have not scored in 16 matches... a direct result of the loss of Madine and ALF. Deano's affection for 24% interest rates should have landed him in the slammer, rather than getting a payday from the Anderson's in the buy-out.  Even friendly loans are costing the club 10%... a far cry from what one could get in a bank.  Hence, interest payments are bankrupting the club.  Without ED, we would have gone into administration (and with good reason).  Without further investment, and with the Anderson's not dipping into their own pocket (s), there is no chance for survival.  Of course, Anderson is not stupid.  If he does shell out for a striker, it might be the difference of surviving in the championship once again.  Parky needs to find a starting eleven... not reach into the grab bag every week or throw darts at the wall.  Let's hope Anderson finds his pocket with his hand and pulls out some cash to buy a player or two to keep us up.  The clubs above us are starting to pull away... but it's not too late if we can get a brace or two.  The dismal scoring record has to change... and Anderson's only hope of selling on is to spend now.

Kane57 wrote:LIGHT THE SLUFFY BEACON

You really are a dick.

The thing is that 525k was paid in year one of Anderson's tenure - we have yet to see the accounts for year two.

As the article says, impossible to judge with any certainty until the accounts come out.

Kane57 wrote:LIGHT THE SLUFFY BEACON

You really are totally childish the way you act on here.  

If you want to add anything to this forum, please go ahead, you can be a really good poster with decent knowledge about the club at times and can be very funny when you have a mind to.  You would undoubtable be a popular poster with most on here if you wanted to be but if the only reason you bother to post here is to troll me then please don't bother yourself anymore thank you.

If you don't like me or what I post, then simply stay away, its not difficult.  Go and find somewhere else more to your liking.

At least everyone else who has a little pop at me, posts elsewhere on Nuts about other stuff.

You just seem to be here for just the one reason.

Anyway.

Fwiw this is old news and I give my views on it way back on the 11th January (post 792) on this very thread -

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Fuck me if you can't even laugh at yourself then there is no hope for you.

Wages not been paid today is the word on the street.

MartinBWFC wrote:Wages not been paid today is the word on the street.

Which street?

Carey Street.

MartinBWFC wrote:Wages not been paid today is the word on the street.

Heard it on the grapevine that Ken is shithousing. He will make the staff worry all day about whether they are being paid for giggles and then send the money tonight

Not true the money has been paid.

Hipster_Nebula wrote:Not true the money has been paid.

Not according to BN.

Here we go again 

The wages will paid just after we have sold a player, if anyone is daft enough to buy one of ours that is.

Wages to club staff have been paid - Iles

Sluffy wrote:Wages to club staff have been paid - Iles

But not the players.

He'll sell Connel to Brighton just to raise some dosh

DEANO82 wrote:

Sluffy wrote:Wages to club staff have been paid - Iles

But not the players.

Iles -

5:03pm

So, we're hearing everybody at Wanderers have now been paid. Good news indeed.

Says a lot when we have to have bank account updates.

As I said they have been paid I had the scoop before Iles.