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Is a buyer is the only hope for BWFC?

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1Is a buyer is the only hope for BWFC? Empty Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 10:56

wanderlust


Nat Lofthouse
Nat Lofthouse
With Anderson suggesting that he won't be going anytime soon, and no sign of buyer on the horizon, I've been wondering if administration is the best option i.e. that we should bite the bullet and take our medicine now rather than wait until the situation gets even worse?

I think it's fairly clear that we won't be able to trade our way out of the current mess as all indications are that we are still trading at a significant loss, the last published accounts indicating something like >£12 million a year. Sure the cutbacks have possibly reduced that figure, but a loss is a loss and with loans having been taken to prop up the business the servicing of those debts will inevitably take it's toll.

I'm not aware of any assets left other than players that can be sold (big thanks to the ST for ensuring the ground itself can't be flogged - although realistically we should be selling it and moving to a field as befits our financial status) and cashflow is struggling as bills are only paid when legal action is taken against the club. Any money spent on a team that is heading for relegation barring a miracle will just be a case of allowing another leak in the dam to burst.

Sadly, Eddie Davies won't be coming to the rescue yet again so unless anyone has any bright ideas, it won't be long before the club is no longer able to borrow money to keep going and at that point we won't be able to pay our dues and time will be called.

None of this will adversely affect Mr Anderson of course as he has kindly pointed out in his recent tweet to Dale Vince. But his welfare is not our concern - the club is.

A CVA would allow the club to continue to trade.
It would relieve any pressure from the creditors.
It would prevent further abuse of the remaining assets.
It would put an end to further winding up orders.
Any unsecured debts will be written off at the end of the CVA period.

That's the upside. there is of course a downside.
The club will have to cut it's cloth according to it's means which will inevitably mean dropping to a lower level - perhaps the correct level?
There is a negotiable cost.
It will be impossible to get further credit (although I think we are almost at that point anyway)
The businesses trading credibility/reputation will be marked with the fact that it has been in administration. Not that our reputation hasn't already been dragged down.

CVA is a long and painful process for everyone who cares about the business (not you Anderson) but to me seems preferable to liquidation - and given that rapidly reducing finances can only be juggled around for a finite period liquidation remains a strong possiblity. Of course, if the company enters into a CVA and Anderson doesn't adhere to the terms of the CVA, liquidation could still happen - and I'm not sure he has any incentive to do that. 

So here's the rub..

Whilst BWFC has to start trading within the club's means sooner or later and without a wealthy buyer that probably means years of austerity in the lower divisions (remember the '80s!) I can't imagine that Anderson will be prepared to do anything about it as it would be tantamount to an admission of failure and it's pretty apparent that his image is more important to him than the club's best interest. Financially we are sinking but he can shuffle the deckchairs on the Titanic as much as he likes, it won't change the outcome.

If Anderson is incapable of making swingeing changes within the current set up to make the business viable (which would make him unpopular and he has singularly failed to do so yet) or enter CVA to let someone else do it, the only hope is that someone buys him out and soon as far as I can tell.

Can any of you financial geniuses see any other option?

2Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 12:01

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse
I'm not a financial genius and i did raise the subject of administration a few weeks ago as i can't see us escaping relegation this season anyway. 
If we did go into administration would it be a one off loss of 12 points? Nothing would be carried over to next season i presume?

I can't see anyone riding to our rescue this season, prospective buyers will probably wait until they know for definite relegation happens so they can pay less so unless we can limp along to the end of the season then administration seems inevitable to me.

3Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 14:20

terenceanne

terenceanne
El Hadji Diouf
El Hadji Diouf
Unfortunately even if a buyer was found today the shuffling of the paperwork would not get done in time for this season. Certainly not in time for the January window. Our only hope is to survive this season and still be a Champs club for sale. A new manager bump might help with that.
Reality is that we will probably be a decent league one club for sale. IMO

4Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 14:45

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
There has to be incentive for a buyer.

This club doesn't have a single one.

5Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 14:49

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
Supporters trust on tv earlier, stated that they are themselves looking for investors, but Ken won't have meaningful conversation with them, sounds about right after what we've heard over the last week.

6Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 15:01

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse
The ST have been down this road before and got nowhere and to be honest as an ST member (lapsed now) i wouldn't want them to take over. I remember listening to the live stream when the Pompey ST came down to the first meeting and they said themselves that a ST owned club will only be able to get as high as League 1 and wouldn't be suitable for the Championship.
The only way it would work is if someone with real money took over and invited the ST to have a small share in the club and a place on the board perhaps?

7Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 15:15

wanderlust


Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:I'm not a financial genius and i did raise the subject of administration a few weeks ago as i can't see us escaping relegation this season anyway. 
If we did go into administration would it be a one off loss of 12 points? Nothing would be carried over to next season i presume?
As mentioned elsewhere, of the 56 instances of a football club going into administration, 33 did so without any points being deducted, however I think they were before the rules changed. All the clubs that went into administration still exist. Hull who beat us 6 nil recently were one of them and Leicester who won the Premiership a couple of years ago were another so it's not necessarily as bad a thing as some folk try to make out.
I just think Anderson couldn't handle the bad publicity so will resist it as long as there's juice left in the club.

8Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 17:22

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I'm not a financial genius and i did raise the subject of administration a few weeks ago as i can't see us escaping relegation this season anyway. 
If we did go into administration would it be a one off loss of 12 points? Nothing would be carried over to next season i presume?
As mentioned elsewhere, of the 56 instances of a football club going into administration, 33 did so without any points being deducted, however I think they were before the rules changed. All the clubs that went into administration still exist. Hull who beat us 6 nil recently were one of them and Leicester who won the Premiership a couple of years ago were another so it's not necessarily as bad a thing as some folk try to make out.
I just think Anderson couldn't handle the bad publicity so will resist it as long as there's juice left in the club.

:rofl:

You do make me laugh!

Anderson wouldn't like the bad publicity!!!

If there's one thing he has proved over the last three years is that he couldn't give a monkey's about having bad publicity! Christ from day one people were banging on about his prior 8 year Directors ban and everything else!

The rules about going into Admin for football clubs have massively changed since teams like Leicester and Hull 'washed away' their debts by doing so and were back to a clean slate again in the blink of an eye.

Anyway I thought you were the 'know it all' who knows everything about anything. Aren't you the one who is a big pal of Ron Billionaire and have all those friends who are 'contacts' and 'know things'!!!

The obvious next step is to see if KA settles the Moonshift loan or decides to hand over ownership of the club, which is due for settlement apparently in a few weeks time.

I'm surprised your ITK mates hadn't pointed that option out to you - but then again if they really exist (which of course they don't) they probably know by now what an insufferable tool you really are and swerve you like the plague!

Very Happy


9Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 18:49

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
So much hate

10Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:02

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse
I feel like stuffy actually hates wanderlust. But stuffy always claims that he doesn’t let strangers on the internet get to him 

Oh stuffy

11Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:04

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.

12Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:22

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
[You must be registered and logged in to see this link.] wrote:I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.
Co-ordinated ears and belly button, or so boggers told me.

13Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:26

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:So much hate

If you want to see hate read the death threats and the wishes of cancer that's been posted on social media towards the Anderson's.

Hate is not calling a self obsessed sixty odd year old nutjob in regards to KA, Brexit, the Conservatives, etc ad nauseumly spouting spurious shite and anger at any anybody who disagrees with him - a joke and laughing at them.

Christ he's been telling me for the last three years that Anderson's going to asset strip the club, pawn imaginary assets, going to bankrupt the club, Ron Billionaire is going to buy us out of Admin, believes Boggers made up purchaser is a true story, and half a mountain of other nonsense - then finally I assume the penny drops with him that he really has no idea what is going to happen next and finally asks others what we think (on something that isn't even the most obvious and earliest outcome for the club!).

I bit my tongue and refused to post when I first saw the thread but cracked when he posted the absurd comment in the extreme that KA is worried about the bad publicity ffs!!!

Yeah, I'm sure that really makes me a hater!

Jog on.

14Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:35

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.
Co-ordinated ears and belly button, or so boggers told me.
No denial of it in his latest post.  Neutral

15Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:41

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
On a serious note, I don't look at twitter, but if wishing cancer on people is a common occurrence, then I consider myself well out of it.

16Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:51

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.

And what's wrong with that? It's all about equality these days!

17Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:54

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.

And what's wrong with that? It's all about equality these days!
I'll stick to the holes I was born with thanks. Very Happy

18Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 19:55

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:I'm worried about old Sluffy. I have it on good authority that he's had his ears pierced.

And what's wrong with that? It's all about equality these days!
I'll stick to the holes I was born with thanks. Very Happy

Very Happy

19Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 20:05

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:So much hate

If you want to see hate read the death threats and the wishes of cancer that's been posted on social media towards the Anderson's.

Hate is not calling a self obsessed sixty odd year old nutjob in regards to KA, Brexit, the Conservatives, etc ad nauseumly spouting spurious shite and anger at any anybody who disagrees with him - a joke and laughing at them.

Christ he's been telling me for the last three years that Anderson's going to asset strip the club, pawn imaginary assets, going to bankrupt the club, Ron Billionaire is going to buy us out of Admin, believes Boggers made up purchaser is a true story, and half a mountain of other nonsense - then finally I assume the penny drops with him that he really has no idea what is going to happen next and finally asks others what we think (on something that isn't even the most obvious and earliest outcome for the club!).

I bit my tongue and refused to post when I first saw the thread but cracked when he posted the absurd comment in the extreme that KA is worried about the bad publicity ffs!!!

Yeah, I'm sure that really makes me a hater!

Jog on.
A lot of your “discussions” with wander end up as personal insults.

20Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 20:13

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
[You must be registered and logged in to see this link.] wrote:A lot of your “discussions” with wander end up as personal insults.
I think we all see that, and find it extremely juvenile, in fact I've been on the end of a few personal insults because I don't agree with his warped idealism.

21Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 20:14

Natasha Whittam

Natasha Whittam
Nat Lofthouse
Nat Lofthouse
'Bullery' is the word you're all looking for.

22Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 20:55

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:So much hate

If you want to see hate read the death threats and the wishes of cancer that's been posted on social media towards the Anderson's.

Hate is not calling a self obsessed sixty odd year old nutjob in regards to KA, Brexit, the Conservatives, etc ad nauseumly spouting spurious shite and anger at any anybody who disagrees with him - a joke and laughing at them.

Christ he's been telling me for the last three years that Anderson's going to asset strip the club, pawn imaginary assets, going to bankrupt the club, Ron Billionaire is going to buy us out of Admin, believes Boggers made up purchaser is a true story, and half a mountain of other nonsense - then finally I assume the penny drops with him that he really has no idea what is going to happen next and finally asks others what we think (on something that isn't even the most obvious and earliest outcome for the club!).

I bit my tongue and refused to post when I first saw the thread but cracked when he posted the absurd comment in the extreme that KA is worried about the bad publicity ffs!!!

Yeah, I'm sure that really makes me a hater!

Jog on.
A lot of your “discussions” with wander end up as personal insults.

A lot of his "discussions" with me end up as personal insults too - often started by him also I may add, when I've posted something pro-Anderson in his view.

I don't moan about his insults, nor him about mine.

Hardly even insults 'insufferable tool' is that really on the level of 'fuck of you slimy fucking cunt' that I've just read a tweet in respect of Anderson?

Personally I find your avatar portraying the clubs owner as a North Korean dictator far more insulting than anything I've ever said about Wanderlust.

Hardly in any position to call out someone else for being 'hateful' really then?

Pot and kettle come to mind.

23Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:20

T.R.O.Y


Andy Walker
Andy Walker
You really find an image of Ken as Kim Jong Un offensive?

24Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:22

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
I think the hair suits him. Takes ten years off him. If only Lee would sort his barnet out.

25Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:29

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:You really find an image of Ken as Kim Jong Un offensive?

I find it offensive to Kim Jong-un!

26Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:30

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
My avatar is for a laugh.  I also created the one portraying Anderson as the wolf of Wall Street for a laugh.

27Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:34

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
My post is in jest so there's no confusion. Very Happy

28Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:34

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:You really find an image of Ken as Kim Jong Un offensive?

More offensive than calling Wanderlust a tool - definitely.

Kim Jong Un is a dictator who has ordered people to be killed in real life ffs!

Even KA's not that bad.


29Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:39

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:My avatar is for a laugh.  I also created the one portraying Anderson as the wolf of Wall Street for a laugh.

And I was clearly laughing at Wanderlust.

So why the need for the hate comment?


30Is a buyer is the only hope for BWFC? Empty Re: Is a buyer is the only hope for BWFC? on Mon Jan 14 2019, 21:52

T.R.O.Y


Andy Walker
Andy Walker
Because you follow him around and get stuck into him constantly.

Just read the comments on this thread.

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