OFFICIAL - Laurence Bassini - New Owner

wessy wrote:Well all though we may be underwhelmed IF all the debts are cleared then surely this is better than what was on the table this morning.

It certainly seems to be - time will tell. 
Wondering now if the claim that the former Blackburn Chairman is behind the bid is true? He had a decent record, and providing he's not a Rovers fan stepping in to finish us off once and for all, would lend some credibility to the ownership.

I'll settle for all debts cleared and a couple of years of stability. I would love Bassini's 3 year plan to come true but let's wait and see what happens next season first.

Also hoping they will publish the accounts early doors so we can have a gander at Anderson's tenure.

This taken from a supposed insider, nicked from WW.

He has backers, wealthy ones, and has also made a rather substantial amount with some property deals, one of which has only been finalised in the last few days, hence the recent delay in the sale of the club.

MartinBWFC wrote:This taken from a supposed insider, nicked from WW.

He has backers, wealthy ones, and has also made a rather substantial amount with some property deals, one of which has only been finalised in the last few days, hence the recent delay in the sale of the club.

It was inferred by Howard that it was Thai money - as per Leicester for instance.

Alleged that the money might not be whiter than white though.

Who knows, time will tell no doubt.

Fair play though to Smurf for being the first to call it and Nixon for persevering with his tale that the Bassini interest was genuine.

Fair play also to Howard for a great tale and getting far more right than wrong.

Also hoping that we soon see the accounts and there is an AGM. Love to hear where Mr Bassini is finding all these millions from.

Parky will soon be sleeping with the fishes 

Jim Whites interview with Bassini -

Part 1

Bassini on SSN in case you missed it...
Ps. That’s his Tinder profile pic. [You must be registered and logged in to see this link.]

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Part 2

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God knows how this will end up.

Great new header image though.

T.R.O.Y wrote:God knows how this will end up.

Great new header image though.

Got to thank Keegan for that - he's as brilliant as always.

Not a fan of Maggie Tetlow. I feel sorry for her husband, she doesn't sound easy to please.

Have to give him a chance, noise down here is that he has been shrewd on a number of property deals around London, tie in with the only people buying in London. There may be a large launderette/dry cleaning company working out of one of the office suites in the near future.

Money appears to be from his personnel wealth not so impressive and East and Far East backers, could be interesting.

Looks like the fella from Blackburn board will be heading up the board and a couple of the local lads will be asked also.

Buellix wrote:Have to give him a chance, noise down here is that he has been shrewd on a number of property deals around London, tie in with the only people buying in London. There may be a large launderette/dry cleaning company working out of one of the office suites in the near future.

Money appears to be from his personnel wealth not so impressive and East and Far East backers, could be interesting.

Looks like the fella from Blackburn board will be heading up the board and a couple of the local lads will be asked also.

Thanks mate - keep letting us know what you are hearing down wherever you are!

Nixon in the Sun -

Laurence Bassini agrees Bolton takeover after chairman Ken Anderson almost put troubled club into administration

As first revealed by SunSport, Bassini has agreed to take Anderson's shares and inherit his huge list of debts.

LAURENCE BASSINI is taking over troubled Bolton Wanderers - just a day after previous owner Ken Anderson went close to putting the club into administration.

As first revealed by SunSport, the ex-Watford supremo has agreed to take Anderson's shares and inherit his huge list of debts after a controversial three years in charge

And the deal was only clinched following Anderson's U-turn on Bolton's future as he ran out of funds to run it.

Anderson had prepared a potential move into administration and a sale to Football Ventures [Whites] Limited who include Sharon Britan and local businessman Mike James who is owed £6million by the club.

However Anderson decided to hand over to Bassini instead and the deal will be complete once initial bills are paid to management and players - with the Football League needing that cash to be handed over.

Boss Phil Parkinson and his team trained and were left in the dark as they prepared for the Aston Villa game on Friday.

The fixture was even in doubt because of unpaid bills to staff at the ground, with an electricity bill also landing for a further six-figure sum or the power would be cut off next week.
Bassini is walking into a string of payments that he is now responsible for paying.

HMRC and sportswear form Macron have been joined by others on a winding up petition due to be heard at the High Court on May 8.

LIQUIDATION AVERTED

Anderson won two reprieves from the court when he revealed a sale was close. Bassini's arrival on the scene saved the club from possible liquidation at next month's third hearing.

The total bill at the High Court is estimated at around £3m just now and there is the option for others owed money to 'piggy back' before then.

Bassini will also have to fund the wages of players for May, June and July with just two home games to raise funds in that period.
Several of the squad that faces relegation in the Championship are out of contract this summer, but Bolton have to honour their deals for a further three months - costing around £2.5m.

The London-based businessman claims to have personal funds from property investments, although sources close to him suggest it is family money.

Bassini will also face the problem Anderson faced with the family of previous owner Eddie Davies. He gave his beloved club a £5m loan before he died and that is now overdue.
The Davies family were also looking for further unsecured loans to be paid back, many used to bankroll the club after his departure. However they may now be lost.

Separate debts are attached to the Whites Hotel at the ground, with the High Court granting an extension to a winding-up order yesterday and allowing the owner to pay on May 8.

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Sluffy wrote:

Buellix wrote:Have to give him a chance, noise down here is that he has been shrewd on a number of property deals around London, tie in with the only people buying in London. There may be a large launderette/dry cleaning company working out of one of the office suites in the near future.

Money appears to be from his personnel wealth not so impressive and East and Far East backers, could be interesting.

Looks like the fella from Blackburn board will be heading up the board and a couple of the local lads will be asked also.

Thanks mate - keep letting us know what you are hearing down wherever you are!

West of the smoke touching distance of the Thames, been here for a while thinking of calling it home    just need the shandy drinkers to move on.

Iles -

Ex-Watford owner Laurence Bassini: I'll make Bolton "strong again"

LAURENCE Bassini, the man on the verge of becoming the new owner of Bolton Wanderers, has pledged to make the club “strong again”.
The 49-year-old property developer has completed a deal to purchase Ken Anderson’s 94.5 per cent stake in Wanderers’ parent company Burnden Leisure and, subject to EFL ratification, will officially take the reins in the next few days.
Insolvency practitioners Rubin and Partners were set to be brought in as administrators up until this morning (Wednesday) when Bassini finally struck a deal with Anderson to keep the club solvent

The former Watford owner admits the timescale has made it difficult to get all the information on debts he is buying into – including those of secured creditors.
But he is convinced he has the available funding to get Wanderers moving back in the right financial direction after some difficult times.
“We worked very, very hard through the night to get the deal done. It was very close to going into administration this morning and probably in the 11th hour we did it,” he said.
“Throughout the night we were going through contracts and detail.
“Money will be going into the club to deal with all the things that need to be sorted out. Obviously, I don’t know all the debts yet, obviously we have to go through all the things and people that are owed money because I don’t know, I don’t have all that information.

"The priority was to save the club going into admin and the drama it would obviously cause.
“Now we have to look to restructure, sort it and move this club back up to where it belongs.”
Bassini has yet to pass the EFL’s directors and owners’ test but says he has filled in the necessary paperwork and does not envisage any problems.
Fans have raised concerns over his two bankruptcies and a three-year EFL ban which has now expired following an acrimonious 13-month spell as the owner and chairman of Watford, a situation which is still subject to legal matters.

Bassini says he will not be taking a hands-on role on the board at Wanderers – and will be seeking the help of Sir Bassini says he will not be taking a hands-on role on the board at Wanderers – and will be seeking the help of Sir Dave Richards, the former Premier League chairman and a close ally of ex-Bolton chairman Phil Gartside.

John Williams, the former Blackburn Rovers chief executive and West Brom chairman, is another person who could come aboard the new-look club structure.
Ex-Wanderers vice-chairman Brett Warburton is another name who has been mentioned by Bassini, although the life-long supporters has played down suggestion he could make a return to the club.

"I learned a very big lesson at Watford. I didn't have control,” Bassini said.
"Even though I was there, I was used to sitting back while everybody just did what they liked.
"That's not going to happen here and that's why I'll be bringing the right people in with me.

“I look forward to success and to build again, to become strong again and secure.
"Ken Anderson has moved on. I hope to bring in Dave Richards - former chairman of the Premier League - and John Williams, who was at Blackburn Rovers. They are very well-respected guys.
"I'm hoping Brett Warburton will come, and one other person.
"I will be the owner but I will not be coming on as a director or chairman. I think the board should have the right football people and my role will be getting hold of the finance to make sure we don't have to worry about things all the time.
"There's a lot I need to look at. I didn't get all the information that I needed but I wasn't about to let them go into administration."

Financial problems have affected every corner of life at Wanderers in the last six months and even as Bassni was announced as the potential new owner of the club, debts owed to the emergency services threatened the stadium’s safety certificate for this Friday’s game against Aston Villa.
It is expected the match will go ahead, although official confirmation from Bolton Council and the SAG is not expected until Thursday.
Debts have piled up, including pay to players and coaching staff, and a near-£3m bill awaiting the club at the High Court on May 8, where a number of creditors including HMRC are waiting.
“It is a mess, but we’ll work hard, going forward, we’ll clean up what we need to sort out there and obviously I am bringing in a very good team to deal with the football club,” Bassini said. "We want to get back to the Premier League. That's the ultimate goal and one day also to get into Europe - and we will.
"Bolton is a big club. They've had some big problems but that will change going forward."

Bassini has also been quoted by the Daily Telegraph as saying he wants to re-name one of the stands at the UniBol in memory of late owner, Eddie Davies.
“It’s the least the man deserves,” he said.

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Ok smart move would be to get the fans on side, move to secure our talent on contracts that befit the potential. Let anyone not under contract know they have a finite time to prove their worth.
Move on the current management team, promote from within at least to the end of the season. Get the players in the remaining games to run until they are breathing out of their arses is the bare minimum. 
Get some pride back this season and start again next, hopefully we are then all back on board.

Bit ominous given that he looks like head of the Soprano's that the press mentioned it was "Family money"

Slightly concerned that when asked about settling all the debts he said that "we'll have to go through them because we didn't have time to do the due diligence" WOW.

Also interested in "Howard's" assertion that having lost the deal his consortium were now looking at financing Bassini.

It will be interesting.

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Nice move locking the thread though.