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From LOV - Will history repeat itself?
In 2006, Southampton were taken over by an individual named Michael Wilde. The current chairman of football at Bolton Wanderers brokered the deal. Southampton had just suffered a relegation, and were facing financial restrictions and spending cuts. They were to go into administration in the 2007/8 season, and the club found itself playing in League One. Thankfully, the club's stellar academy nurtured world class talents like Gareth Bale and (don't laugh) Adam Lallana, which facilitated the club's recovery.
The Wanderers chairman who was involved in this deal has been found previously by the Insolvency Service as guilty of "diverting funds receivable by a company into personal accounts, VAT discrepancies, and failure to cooperate with Receivers". In 2005, the same Bolton chairman was banned from being a company director until 2013. Thank God it's 2016, eh? ([You must be registered and logged in to see this link.]).
In 2007, Liverpool Football Club were in talks with Dubai International Capital. Vantis, the company one particular Wanderers chairman was linked with at Southampton, claimed they were in contact with DIC about buying Liverpool. Vantis, a financial advisory company, were advertising 30% of Liverpool Football Club for £50m. Leaked documents revealed that potential investors were promised a profit from re-sale within seven years of purchase. However, the Wanderers chairman's involvement in said deal is murky. In fact, DIC denied the involvement of Vantis whatsoever. It's hardly surprising: at the time, three of the senior executives at Vantis were under investigation for charges of tax evasion. ([You must be registered and logged in to see this link.])
From LOV - Will history repeat itself?
In 2006, Southampton were taken over by an individual named Michael Wilde. The current chairman of football at Bolton Wanderers brokered the deal. Southampton had just suffered a relegation, and were facing financial restrictions and spending cuts. They were to go into administration in the 2007/8 season, and the club found itself playing in League One. Thankfully, the club's stellar academy nurtured world class talents like Gareth Bale and (don't laugh) Adam Lallana, which facilitated the club's recovery.
The Wanderers chairman who was involved in this deal has been found previously by the Insolvency Service as guilty of "diverting funds receivable by a company into personal accounts, VAT discrepancies, and failure to cooperate with Receivers". In 2005, the same Bolton chairman was banned from being a company director until 2013. Thank God it's 2016, eh? ([You must be registered and logged in to see this link.]).
In 2007, Liverpool Football Club were in talks with Dubai International Capital. Vantis, the company one particular Wanderers chairman was linked with at Southampton, claimed they were in contact with DIC about buying Liverpool. Vantis, a financial advisory company, were advertising 30% of Liverpool Football Club for £50m. Leaked documents revealed that potential investors were promised a profit from re-sale within seven years of purchase. However, the Wanderers chairman's involvement in said deal is murky. In fact, DIC denied the involvement of Vantis whatsoever. It's hardly surprising: at the time, three of the senior executives at Vantis were under investigation for charges of tax evasion. ([You must be registered and logged in to see this link.])
