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Club Future - Administration or bust?

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991Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 10:58

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Sale sharks AND the rfl want the Macron 

True story
I think the talk is about buying it, then renting it out to us.

Bloody cheek.

992Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 11:07

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse
That would never work, look at the mess Coventry are in with the same issue.

993Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 12:22

Sluffy

Sluffy
Admin
Club Statement

The Club would like to update supporters on the current situation in respect of the proposed administration process and the events at court yesterday given some of the misleading reports surrounding the matter.
Ken Anderson filed the Notice of Intent to appoint an administrator forms with the court yesterday morning for both Bolton Wanderers Football Club and Bolton Whites Hotel in his position as a qualifying floating charge holder on both companies. Later in the day Flidraw Limited, on behalf of the late Eddie Davies's Trust, also filed similar documents for both Burnden Leisure and Bolton Wanderers Football Club having served demand notices on both companies earlier in the day.
Although the procedure of formally appointing the Administrator can take up to ten days the hope is that this matter will be finalised very shortly allowing the work to commence immediately on the process needed to be undertaken.
The long term security of the club, its supporters and the loyal staff is paramount in the hope of a speedy resolution to the process.

[You must be registered and logged in to see this link.]

994Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 14:30

bryan458

bryan458
Tony Kelly
Tony Kelly
“The long-term security of the club, its supporters and the loyal staff is paramount in the hope of a speedy resolution to the process.” 

Anderscum said this ??? 

Seriously ???

Mad Mad Mad Mad ..dunno..

995Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 14:32

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
They're polishing his brass neck as we speak.

996Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 14:33

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:They're polishing his brass neck as we speak.
Well better than polishing his love length. Very Happy

997Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 14:44

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:They're polishing his brass neck as we speak.
Well better than polishing his love length. Very Happy
He wouldn't polish that. He'd be too cheap to pay a finders fee.

998Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 14:49

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:They're polishing his brass neck as we speak.
Well better than polishing his love length. Very Happy
He wouldn't polish that. He'd be too cheap to pay a finders fee.
affraid :rofl: :rofl: :rofl:

999Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 20:04

rammywhite

rammywhite
Frank Worthington
Frank Worthington
[You must be registered and logged in to see this link.] wrote:So what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
Its quite a complicated picture. If BWFC have defaulted on paying 
either the capital or interest on loans on which the lender has a fixed charge and chooses to exercise that charge then they can claim the asset as theirs and the asset leaves the club. So if someone has lent and the collateral (the security)l is a fixed charge on the car park, then the car park belongs to them. Hopefully they would lease it back to us if we survive at the Unibol. If there is a floating charge (i.e. not fixed on any particular asset and the club has defaulted on payment of capital ( the amount lent) or interest, then the charge crystallises and the lender can have their choice of any remaining assets covered by the charge. They don't need to exercise their right to 'receive 'or claim the asset- they could renegotiate the loan.
So, in answer to your question, virtually all the assets could end up in the hands of the lenders in settlement of their loans, and we end up with nothing.
I should add that this can't happen until the Administrator has produced the Statement of Affairs and that can take up to 8 weeks from the date of their appointment

1000Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 20:09

rammywhite

rammywhite
Frank Worthington
Frank Worthington
[You must be registered and logged in to see this link.] wrote:Club Statement

The Club would like to update supporters on the current situation in respect of the proposed administration process and the events at court yesterday given some of the misleading reports surrounding the matter.
Ken Anderson filed the Notice of Intent to appoint an administrator forms with the court yesterday morning for both Bolton Wanderers Football Club and Bolton Whites Hotel in his position as a qualifying floating charge holder on both companies. Later in the day Flidraw Limited, on behalf of the late Eddie Davies's Trust, also filed similar documents for both Burnden Leisure and Bolton Wanderers Football Club having served demand notices on both companies earlier in the day.
Although the procedure of formally appointing the Administrator can take up to ten days the hope is that this matter will be finalised very shortly allowing the work to commence immediately on the process needed to be undertaken.
The long term security of the club, its supporters and the loyal staff is paramount in the hope of a speedy resolution to the process.

[You must be registered and logged in to see this link.]

Seems like the problem is who has the primary right to appoint the Administrator. They'll all want to appoint their own man. Perhaps it will end up with joint Administrators

1001Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 22:23

Leeds_Trotter

Leeds_Trotter
Andy Walker
Andy Walker
[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 what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
Its quite a complicated picture. If BWFC have defaulted on paying 
either the capital or interest on loans on which the lender has a fixed charge and chooses to exercise that charge then they can claim the asset as theirs and the asset leaves the club. So if someone has lent and the collateral (the security)l is a fixed charge on the car park, then the car park belongs to them. Hopefully they would lease it back to us if we survive at the Unibol. If there is a floating charge (i.e. not fixed on any particular asset and the club has defaulted on payment of capital ( the amount lent) or interest, then the charge crystallises and the lender can have their choice of any remaining assets covered by the charge. They don't need to exercise their right to 'receive 'or claim the asset- they could renegotiate the loan.
So, in answer to your question, virtually all the assets could end up in the hands of the lenders in settlement of their loans, and we end up with nothing.
I should add that this can't happen until the Administrator has produced the Statement of Affairs and that can take up to 8 weeks from the date of their appointment
With that said, the people who are wanting to take over do they have a charge against most our assets?

1002Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Thu May 09 2019, 23:39

Growler


Tony Kelly
Tony Kelly
It is an awful situation for the Davies family.They want to do the decent thing but they know putting the club in administration makes it more likely that the cunt Anderson will get to keep the £5 million that their dying father lent him for club purposes.

1003Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 07:03

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
Bassini has said he's in pole position to take over the club after admin and intends to make use of his connection to the club "paksi FC" whatever that is.

1004Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 10:09

rammywhite

rammywhite
Frank Worthington
Frank Worthington
[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 what will happen with our assets, are they to be sold off or if someone was to purchase the club in admin, could they then pay off the money owed and us keep the assets?
Its quite a complicated picture. If BWFC have defaulted on paying 
either the capital or interest on loans on which the lender has a fixed charge and chooses to exercise that charge then they can claim the asset as theirs and the asset leaves the club. So if someone has lent and the collateral (the security)l is a fixed charge on the car park, then the car park belongs to them. Hopefully they would lease it back to us if we survive at the Unibol. If there is a floating charge (i.e. not fixed on any particular asset and the club has defaulted on payment of capital ( the amount lent) or interest, then the charge crystallises and the lender can have their choice of any remaining assets covered by the charge. They don't need to exercise their right to 'receive 'or claim the asset- they could renegotiate the loan.
So, in answer to your question, virtually all the assets could end up in the hands of the lenders in settlement of their loans, and we end up with nothing.
I should add that this can't happen until the Administrator has produced the Statement of Affairs and that can take up to 8 weeks from the date of their appointment
With that said, the people who are wanting to take over do they have a charge against most our assets?

Difficult to say with any certainty. Certainly the Warburtons and  the Prescot firm do have charges on assets and if the club has defaulted then they can take the assets now if they want them. I don't think either of them wants to do more damage so I doubt they will take any action whilst the club is in administration ( when that happens). But those loans might have been serviced  (interest paid)for all we know- that information doesn't need to be made public until the audited final year-end Accounts are published. Administration is not liquidation when all loans are repayable or charges crystallise and assets will go. In Admin all creditors hands are tied for about 8 weeks.
Bassini has no claim on any company assets at all and neither do the other 'tyre kickers' to quote Andersons description
Andersons own position is more difficult. If Eddie Davies  lent him the money personally then ,as I understand it he took a charge on Anderson's shares in Burnden Leisure (who effectively own BWFC). Those shares are now virtually worthless Anderson then lent the club the money taking, presumably a floating charge over the assets (current and possibly future). That's subsidiary to any fixed charges which others (the Warburtons, the Prescot business, and don't forget the company bankers who will also hold floating charges against ordinary corporate loans) so he'll be way down the pecking order unless he took a specific fixed charge on some other assets like cash flows from the EFL or against securitised season ticket cash flows( that's all complicated so I won't bore you with it). If Fildraw (who are part of and presumably looking after Eddie estate) crystallise their charge they get KA's fairly worthless shares and the business- with a whole pile of debt to go with it. They might not want that ( who would) and so they might not crystallise the charges but wait for the Administratorr to set up a NEWCo with any remaining assets being transferred to it whilst all the debt is left behind. Immoral ,unethical I know- but that's what happens.
KA might get a share of any assets sold- but I doubt he'll walk away with £5 million as there isn't any cash in the business and won't be for sometime. Others will have prior calls on any cash such as on-going day to day bills and things like unpaid pension liabilities. Nobody will supply anything to the club now on credit- they'll all want cash up front or on delivery
 So a complicated situation but essentially the Eddie Davies trust are in line for some worthless shares at  the moment,and KA might in fact walk away with some money and potentially some  assets, but how much is genuinely uncertain. They can only sell players, and in all honesty none of them are worth much.
Sorry if this is jargon ridden and hard to understand but its not an easy area to explain and there is a long way to go before this unhappy saga is ended.
It could be sorted out quickly but with Anderson still at the helm making things difficult so he can get his thieving paws on whatever he can get, it will roll on for some time.

1005Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 11:43

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
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BOLTON. Plot thickens. A foreign group shown round ground yesterday. Poss contenders to buy once goes into admin.

1006Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 11:53

Natasha Whittam

Natasha Whittam
Nat Lofthouse
Nat Lofthouse
I once got shown round Southampton's old Dell ground.

It didn't mean I was going to buy the club.

1007Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 12:19

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
How does he know foreign.

1008Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 13:06

Cajunboy

Cajunboy
Andy Walker
Andy Walker
[You must be registered and logged in to see this link.] wrote:How does he know foreign.
Probably Welsh.

1009Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 15:55

Sluffy

Sluffy
Admin
Super-rich Chinese group plotting takeover of crisis club

Nixon story -

CRISIS club Bolton Wanderers are wanted by super-rich Chinese group Shandong Luneng - with a return for Sam Allardyce on their menu.
Top officials from the company have been shown round the ground and are weighing up an offer to buy the stricken outfit.

The Chinese group tried to take over the club a year ago but ran into snags in talks with owner Ken Anderson.

However two senior officials flew in at the start of a renewed bid and were accompanied by former Wanderers sports scientist Mark Taylor.

Shandong Luneng are a leading power company in China and already have a major club in Jinan but they are keen on buying an English team.

Deal fixer Taylor is a former player who worked with Allardyce at Bolton, Blackburn, Newcastle and Sunderland.

Allardyce, 64, lives locally and is still a Bolton legend. He may be interested if the Chinese plan to invest and aim for the Premier League.

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1010Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 16:07

Sluffy

Sluffy
Admin
A little bit of gossip in respect of these Chinese.

The person named as the deal fixer, Mark Taylor is a Director of a company called Stanley M Holdings, and his fellow director is non other than former ST Chair Ian Bridge!

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Coincidence or more too it?

Who knows.

1011Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 16:14

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse
Please be true  :pray: :pray: :pray:

1012Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 16:57

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
Rubbish

1013Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 17:41

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
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Understand the Chinese consortium only looking to do a deal in admin - so I'll add them to a long list. Looks like Tuesday will be the day.

1014Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 17:49

Cajunboy

Cajunboy
Andy Walker
Andy Walker
Sweet and Sour?

Let's hope it is Sweet.

Seems too good to be true.

1015Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 17:51

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
Big Sam back at the club? A few bob to spend?

It's as good a straw as any to cling to.

Just can't see it happening.

1016Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 18:00

Cajunboy

Cajunboy
Andy Walker
Andy Walker
Could Parkinson be for the Chop Suey?

1017Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 18:03

MartinBWFC

MartinBWFC
Frank Worthington
Frank Worthington
Could this spring any optimism?

CHINESE investors have been given a guided tour at Wanderers – raising the prospect a new buyer could be found soon.

Representatives of the Shandong Luneng Group are understood to have visited the stadium and training ground on Thursday with a view to bidding in administration.

Former head of sports science, Mark Taylor, introduced the group to Bolton several months ago but was unable to gain any traction with owner Ken Anderson. He has also tried to bring in a Middle Eastern consortium, again with no luck.

The 54-year-old, who was one of the key members of Sam Allardyce’s famed ‘War Room’ in the Premier League days, has now issued a statement to The Bolton News outlining his involvement.

“I am working in association with an investment group that is interested in Bolton Wanderers Football Club,” he said.

“I have introduced other investors in the past, without success, but events over the last few weeks and particularly those in the High Court on Wednesday, have brought matters into focus.

“This club needs stability and forward planning and that is what we would look to prioritise.

“My association and affection for the club is well-known but speculation about links with Sam (Allardyce) are just that – at this stage, anyhow

“Developments will, by necessity, require a level of confidentiality but the club, the town and, most importantly, the supporters, need a boost. That is a fact.”
Shandong Luneng are one of the biggest electricity suppliers in China and already back a Chinese Super League side, who signed Marouane Fellaini from Manchester United in January.

Club sources stress that a number of interested parties have viewed Wanderers’ facilities in the last 12 months without making a concrete bid – but after sending two of their top men to view facilities, the group now look to be a strong contender to buy the club when it enters into administration at the start of next week.

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1018Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 18:23

Cajunboy

Cajunboy
Andy Walker
Andy Walker
Fellaini on loan next season?

1019Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 19:43

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
Nothing will come of it.

1020Club Future - Administration or bust? - Page 34 Empty Re: Club Future - Administration or bust? on Fri May 10 2019, 19:51

gloswhite

gloswhite
Jay Jay Okocha
Jay Jay Okocha
More likely the local Chinese take-away wanting to sponsor a game.

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