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Bolton Nuts » BWFC » Bolton Wanderers Banter » OFFICIAL - BWFC are placed in administration

OFFICIAL - BWFC are placed in administration

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BoltonTillIDie
Cajunboy
Sluffy
boltonbonce
karlypants
Natasha Whittam
Hipster_Nebula
MartinBWFC
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Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

Growler wrote:
MartinBWFC wrote:
Growler wrote:First English club to go into administration for 6 years, shows how poor our owners have been at running a football club.
There will be more of that I'm pretty certain.
 Which other clubs do you reckon have been as badly run as Bolton?

Cov

rammywhite

rammywhite
Frank Worthington
Frank Worthington

Cajunboy wrote:What is the financial significance of Fildraw Ltd  putting this into motion rather than KAnderson?


HELP Rammy!!!!!

I don't think it makes much difference who appointed the administrator . Fildraw will have gone for their own man but it will have to have been agreed by any one serving a Notice of Intent to the court. No matter who appoints them it doesn't allow any favours to be done for them.
So no creditors will be adversely affected by the appointment of Appleton.

rammywhite

rammywhite
Frank Worthington
Frank Worthington

Sluffy wrote:
Cajunboy wrote:Thanks Sluffy, that's great.

I wasn't doubting  your knowledge.

That's ok.

Rammy KNOWS his stuff, I don't, I just try to understand it and explain what I think I've understood to others.

I like to think I get more right than wrong but Rammy is certainly the correct person to be asking.

I'm more than happy to be set right by him at anytime.

I'm never too old to learn.

The main question here is who pays the Administrators. Their fees will come from the business now that they are administrators. They are effectively in charge of everything now. They'll have to have a creditors meeting at which they'll make a statement about their fees and where the money will come from. The creditors will be asked to agree whether they're reasonable or not- and if the creditors think they're exorbitant they( the creditors) can go back to Court to get them reduced.
Essentially they'll get there fees from any money coming into the business ( such as concerts, any season ticket receipts they might get( if we decide to renew) and if that's not enough by selling assets. Thus when they sell Luca Connell that money can be used to pay themselves.
They'll get their money one way or another.

rammywhite

rammywhite
Frank Worthington
Frank Worthington

I think KA getting the hotel is interesting and more needs to come out about this from official sources. I think you have to separate out the hotel premises from thm hotel business. The hotel buildings are an integral part of the stadium and I think it might be difficult to separate the two out. The hotel business ( which won't own the property) is a separate entity probably renting/leasing the buildings from Burnden Leisure.
Therefore the charge( which KA might own) could well be about the business and not the property.
That would make it a poor asset to take control over as he can't run it without having a lease on the premises. In other words he won't be able to sell it ,or run it as a business without Burnden Leisure give him access to their property.
The plot thickens- or the thick plottens, whichever you prefer.

MartinBWFC

MartinBWFC
Ivan Campo
Ivan Campo

Growler wrote: Which other clubs do you reckon have been as badly run as Bolton?
This is what I meant.

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MartinBWFC

MartinBWFC
Ivan Campo
Ivan Campo

Oh dear

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Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse

Bassini the front runner? Who'd have thunk it.

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

From what I've read on here, I'm assuming that the Administrator will consider any offers in accordance with not only their own rules, but also those of the EFL ?  i.e. they would accept a final bid from the bidder offering not only the most money, but also the better football plan for both the short and long term.

y2johnny

y2johnny
Tony Kelly
Tony Kelly

Take the hint bassini and don't bother you blue suede shoe wearing egg headed orange prick

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse

y2johnny wrote:Take the hint bassini and don't bother you blue suede shoe wearing egg headed orange prick

See chapter 3 of Johnny's best seller 'The Art Of Diplomacy'. Razz

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

Indeed, a colorful description.  Very Happy

Sluffy

Sluffy
Admin

gloswhite wrote:From what I've read on here, I'm assuming that the Administrator will consider any offers in accordance with not only their own rules, but also those of the EFL ?  i.e. they would accept a final bid from the bidder offering not only the most money, but also the better football plan for both the short and long term.

In theory they are working to get the best deal for the creditors, to minimise the losses of those unsecured - so they real wouldn't worry too much who had the best football plan and concentrate more on who would pay the most to buy the club.

Of course it could be the same thing - the ones offering the most to buy could also have the best footballing plans too.

karlypants

karlypants
Nat Lofthouse
Nat Lofthouse

y2johnny wrote:Take the hint bassini and don't bother you blue suede shoe wearing egg headed orange prick
Very Happy

Cajunboy

Cajunboy
Frank Worthington
Frank Worthington

y2johnny wrote:Take the hint bassini and don't bother you blue suede shoe wearing egg headed orange prick
He speaks highly of you Johnny.

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