BWFC / Burnden Leisure - Administrators Report

The administrators report for Bolton is now up at Companies House. Here’s a few potted highlights. Most of this is already familiar to [You must be registered and logged in to see this link.] fans thanks to the painstaking reporting of the mighty [You must be registered and logged in to see this link.] in the Bolton News [You must be registered and logged in to see this link.]

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

Administrators have received £42k from a prior player sale of £200k since appointment. BWFC had debtors of £360k but looks as if some will turn bad & not pay up. Club has lost £361k since administrators appointed in May, unsurprisingly given season has finished. [You must be registered and logged in to see this link.]

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

Other agents are on £30k for selling the stadium etc.  £100k for a ‘marketing teaser’ & creating a ‘virtual online data room’ and £211k (and counting) for the lawyers, who usually work for love, but just this once are doing it for money. [You must be registered and logged in to see this link.]

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

Rod Stewart concert earned £40k for BWFC. Administrators estimated fees are £976k plus VAT (this doesn’t include the hotel which is another £1/2mill) at hourly rates of £150-550 per hour, proof the streets of London are paved with gold. [You must be registered and logged in to see this link.]

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

Administrators claim to have written off £20k worth of their time pre-appointment. They have been working at an average of £376 per HOUR ([You must be registered and logged in to see this link.]) since then. This is apparently about the same as charged by a high class prostitute but as yet no happy finish for [You must be registered and logged in to see this link.]

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

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

— PriceOfFootball (@KieranMaguire) [You must be registered and logged in to see this link.]

sunlight wrote:" and formerly banned director from all UK companies Ken Anderson (£1.5m but claiming £7.5m) "