OFFICIAL CLUB SOLD TO FV!!!!!

gloswhite wrote:Have I got this right?  FV need the hotel as part of the deal, otherwise they don't have enough funds. However, the Boo Hoo (or whatever|) boys only want the hotel ?
As they are being flogged off separately, what happens if the hotel is sold to the BooHoo boys, and they don't want the football club, or are they automatic owners of the club?

Glos the hotel and football club are two separate companies operating independently of each other. That's why there are two administrators. However both fall under the umbrella of Burnden Leisure. FV has made a bid for Burnden Leisure which would make them owners of ALL the sub companies (eg the hotel) as well as the football club. Boo-hoo appear to have bid ONLY for the hotel. If boo-hoo succeed this means they would NOT own the football club or any of the other ventures. FV have (rightly I think) stated that since the Hotel earns the most revenue and even makes a profit it's integral to future plans for the whole group since they aren't billionaires and will be looking to make the business as a whole self-sustaining.

Bolton. Sounds like Football Ventures trying to push hotel deal through. Argument over what is best or biggest bid. Been a court hearing today. Waiting on outcome. Rivals bid is more cash up front. Leave that one to the judge ...

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Something to do with legal handling of it. Above my pay grade. [You must be registered and logged in to see this link.]

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From what I can make out the hotel Administrator has recommended the Kamani's have the hotel but Michael James/PBP has appealed as head creditor that the Administrator has not acted properly and the decision has gone back to the winders court for the judge to rule on.

Fingers crossed the judge rules in James favour!

boltonbonce wrote:Joint Statement
 

After input from Baroness Ann Taylor of Bolton and the Football Supporters Association (FSA), a meeting with Debbie Jevans (EFL CE) had been scheduled for tomorrow lunchtime.
 
Representatives of Forever Bury, Sky Blues Trust, Blackpool Supporters' Trust and Bolton Wanderers Supporters' Trust, along with the FSA, were due to meet Debbie Jevans (EFL Chief Exec) at the EFL HQ in Preston.
 
However, the meeting has today been cancelled. This is very frustrating and disappointing, particularly with the impending expulsion of Bury FC and the still unresolved take-over at Bolton Wanderers FC.
 
As a collective, we were looking to make the EFL fully aware of the feelings of supporters and their despair at the lack of intervention from the EFL in the growing numbers of dysfunctional ownership issues. Tomorrow would have been that opportunity.
 
We now await a rescheduling of the meeting and sincerely hope that it is not too late to save our clubs from further catastrophes.
 
The clock is ticking for our national game. The EFL need to take note and act now.

The clock has been ticking for years.....I have no idea how most small clubs stay in business as it is. Expenses continue to rise but most lower division clubs only have small crowds to pay for it all, with a few exceptions.
Like the horse & cart.....sooner or later its gone. 
If bury goes out their fans would not become BWFC fans or even consider it even though they are a massive 5 miles away. It's that small town attitude built in for 100 years......just saying.

More than 5 miles from Bury to that place they moved the pitch to.

luckyPeterpiper wrote:

gloswhite wrote:Have I got this right?  FV need the hotel as part of the deal, otherwise they don't have enough funds. However, the Boo Hoo (or whatever|) boys only want the hotel ?
As they are being flogged off separately, what happens if the hotel is sold to the BooHoo boys, and they don't want the football club, or are they automatic owners of the club?

Glos the hotel and football club are two separate companies operating independently of each other. That's why there are two administrators. However both fall under the umbrella of Burnden Leisure. FV has made a bid for Burnden Leisure which would make them owners of ALL the sub companies (eg the hotel) as well as the football club. Boo-hoo appear to have bid ONLY for the hotel. If boo-hoo succeed this means they would NOT own the football club or any of the other ventures. FV have (rightly I think) stated that since the Hotel earns the most revenue and even makes a profit it's integral to future plans for the whole group since they aren't billionaires and will be looking to make the business as a whole self-sustaining.

Thanks Peter. As I thought. However, one nagging thought I have, and it seems it is going to be resolved soon, is what if the hotel is sold off to the Kamani's (thanks Sluffy), leaving FV high and dry?

gloswhite wrote:

luckyPeterpiper wrote:

gloswhite wrote:Have I got this right?  FV need the hotel as part of the deal, otherwise they don't have enough funds. However, the Boo Hoo (or whatever|) boys only want the hotel ?
As they are being flogged off separately, what happens if the hotel is sold to the BooHoo boys, and they don't want the football club, or are they automatic owners of the club?

Glos the hotel and football club are two separate companies operating independently of each other. That's why there are two administrators. However both fall under the umbrella of Burnden Leisure. FV has made a bid for Burnden Leisure which would make them owners of ALL the sub companies (eg the hotel) as well as the football club. Boo-hoo appear to have bid ONLY for the hotel. If boo-hoo succeed this means they would NOT own the football club or any of the other ventures. FV have (rightly I think) stated that since the Hotel earns the most revenue and even makes a profit it's integral to future plans for the whole group since they aren't billionaires and will be looking to make the business as a whole self-sustaining.

Thanks Peter. As I thought. However, one nagging thought I have, and it seems it is going to be resolved soon, is what if the hotel is sold off to the Kamani's (thanks Sluffy), leaving FV high and dry?

It's not quite like that Peter.

Club is being bought from Bolton Wanderers Football and Athletic Club Ltd - FV aren't buying Burnden Leisure.

Their plan was/is to buy the stadium as part as the club deal, package it with the hotel and sell it off to fund everything, and lease the stadium and hotel back (the hotel isn't financially capable of funding the club).

The deal is dead though if they can't include the hotel - hence why it is so important that they do.

Anderson knew that and appointed the Administrator for the hotel who it is claimed has worked against the best interests of Prescot Business Park/Michael James (part of the FV consortium remember) in order to prefer and maximise the money for Anderson resulting from a (delayed?) sale and who have seemingly recommended BooHoo (the Kamani's) as successful purchasers for the hotel.

BooHoo seems to have offered less for the hotel than FV BUT money up front whereas FV seems to be payments over a number of years (I can't confirm whether this is true or gossip but it seems likely?).

It seems PBP/James have appealed/complained about Anderson's Administrators actions.

That's how I'm understanding things anyway.

I guess it's bothering me somewhat because I can't sleep and posting this at four in the morning!

I'm going to be very tired tomorrow - well today now!

I don't like the idea of selling off the ground and hotel and leasing it back, look whats happened at Coventry as one example of how it can cause massive problems.

Norpig wrote:I don't like the idea of selling off the ground and hotel and leasing it back, look whats happened at Coventry as one example of how it can cause massive problems.

Very much so. The ground is leased by the rugby club, who virtually own it, and Coventry are playing second fiddle all the time.

Oh Jesus. The supporters trust.

Norpig wrote:I don't like the idea of selling off the ground and hotel and leasing it back, look whats happened at Coventry as one example of how it can cause massive problems.

Needs must.

Sell the family silver or die.

And if you're dead someone will sell off the silver to pay for your burial anyway.

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Not sure why the picture comes out all squeezed up but if you click on the enlarge picture link it comes out fine to read.

I thought it was common knowledge in the footballing world that you can’t have your hand in more than one club in the same country?

karlypants wrote:I thought it was common knowledge in the footballing world that you can’t have your hand in more than one club in the same country?

I agree,  I never understood why Bassini's claims were taken seriously in court.

The whole thing is a complete farce.

I just hope Bassini keeps his trousers on.

We've had a enough nasty shocks already.

All we hear from is Bassini…..not a word from FV 
I don't trust either party but at least Bassini is showing some gumption and is determined to get us. Can't say the same for LV.

I dunno 

What, still not sold!!!!

SHITEHAWKERS!!!!!!!!!!

Cajunboy wrote:SHITEHAWKERS!!!!!!!!!!

Word is that deal is done and will be announced just before the match.


Make of that what you will.

Sounds familiar. 

Bury seem to have been bought out- that just leaves us in the mire. They seem to be safe- but we're not

A source on WW saying the deal was due to be completed last night, emails to staff and players ready to be sent out, then that slimy bastard Anderson moved the goalposts and left it high and dry again, go on Sluffy if this is true back the tw@t now.