TAKE OVER OFF - (game probably off)

Bassini puts a court order in to prevent FV getting over the line.

It is with a combination of outrage and disgust that I have to inform Bolton Wanderers fans that the deal to sell the club to Football Ventures has been temporarily suspended in the last hour.
Late this afternoon, we were informed by lawyers acting for Laurence Bassini that he had been awarded a court order attempting to prevent the sale of Burnden Leisure Limited, part of an action against a company owned by Ken Anderson.

It beggars belief that Mr Bassini, a man who publicly professed to care passionately for the club, has now, through his actions, threatened its very existence.

Despite a long and hugely complex process of negotiation, we were finally on the brink of completion this afternoon when Bassini’s order was served.

Our lawyers are now in conversation with Counsel in a bid to overturn the order immediately.

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What next?

It's getting pathetic now.

Who knows but you can bet it won't be good! I've said this on another thread but Bassini is not the full shilling and he is damaging the club and could lead to the club being kicked out of the league.

Why does anyone even take him seriously? The guy can barely string a sentence together. ... Or is he one of those people we shouldn't underestimate? Maybe he is exceptionally clever (genius-like) but with clown tendencies?

I get the feeling this was premeditated by Ken Anderson, ie. let Bassini have his bit of paper agreeing to let Bassini buy the club then ignore him and watch the fireworks go off.

Something underhand is happening. The delays, Bassini waiting in the background, overly zealous administrators filling their pockets. A vengeful Anderson wanting to spite the fans. All this could lead to you know where... 

No Club.

It’s getting like fucking brexit this!

He's got a point. He was told he would be getting the club.

Hipster_Nebula wrote:He's got a point. He was told he would be getting the club.

No he doesn't Hipster. He was told he was getting the club contingent on him providing proof of funds and other evidence to both Ken and the EFL. He was given a deadline which was extended on two occasions and he failed to even turn up to the EFL meetings on both of them. As a result both Ken and the League declared the deal was dead and that since Mr Bassini had failed on multiple occasions to meet his obligations despite having given his word he would do so the talks were terminated with immediate effect, a move supported by the EFL and most of the fans, even many who wanted Ken gone yesterday.

Since Mr Bassini has not put one penny into the club and still hasn't provided any evidence that he has the means to effect a takeover I would say he doesn't have a point, a leg to stand on or a pot to piss in.

luckyPeterpiper wrote:

Hipster_Nebula wrote:He's got a point. He was told he would be getting the club.

No he doesn't Hipster. He was told he was getting the club contingent on him providing proof of funds and other evidence to both Ken and the EFL. He was given a deadline which was extended on two occasions and he failed to even turn up to the EFL meetings on both of them. As a result both Ken and the League declared the deal was dead and that since Mr Bassini had failed on multiple occasions to meet his obligations despite having given his word he would do so the talks were terminated with immediate effect, a move supported by the EFL and most of the fans, even many who wanted Ken gone yesterday.

Since Mr Bassini has not put one penny into the club and still hasn't provided any evidence that he has the means to effect a takeover I would say he doesn't have a point, a leg to stand on or a pot to piss in.

It seems that a judge somewhere thinks he has a point, otherwise he wouldn't have been able to stop the process.

Why he wants to persist in trying to buy the club is beyond me. it should be clear to him that NOBODY at the club wants him anywhere near us. He's clearly skint and last time he tried to buy the club the EFL showed him the door as he had no money.  He seems to have 'borrowed' some money from his mate Gold-  the porn king owner of West Ham and that is where he is getting his money from.
If he does buy the club and makes his first appearance on the pitch to a pitifully small crowd he'll be welcomed with booing and lot of hand gestures- it should be plain to him despite his inflated ego that he's not wanted and his time with us would be a misery. And for us it would be like an even worse Anderson in charge.
There are plenty of other distressed clubs that he could buy. What's he getting for his money? A failing business. The hotel is losing money and will continue to do so, the playing stock is sorely depleted to a bunch of kids and poor quality journeymen, all the assets are in charge elsewhere  ad the main asset- the football stadium is a lousy security to borrow against(if he can possibly borrow). All we have really got is league status and that's in real jeopardy at the moment.
He must be mad to try and buy a basket case like us.

Can we say if FV had took their fingers out of their asses and got the required signatures weeks ago, then Bassini would not have had the time to file the injunction. 
As for Bassini he may or may not be skint….but the same goes for FV
IMO the entire season is still in Jeopardy……...step in Boohoo

You are rubbing salt into the wound there Terrence if true! 

gloswhite wrote:

luckyPeterpiper wrote:

Hipster_Nebula wrote:He's got a point. He was told he would be getting the club.

No he doesn't Hipster. He was told he was getting the club contingent on him providing proof of funds and other evidence to both Ken and the EFL. He was given a deadline which was extended on two occasions and he failed to even turn up to the EFL meetings on both of them. As a result both Ken and the League declared the deal was dead and that since Mr Bassini had failed on multiple occasions to meet his obligations despite having given his word he would do so the talks were terminated with immediate effect, a move supported by the EFL and most of the fans, even many who wanted Ken gone yesterday.

Since Mr Bassini has not put one penny into the club and still hasn't provided any evidence that he has the means to effect a takeover I would say he doesn't have a point, a leg to stand on or a pot to piss in.

It seems that a judge somewhere thinks he has a point, otherwise he wouldn't have been able to stop the process.

I did some digging into this today and here's what seems to be the case. Bassini and Anderson agreed a deal and signed a contract but it was contingent on Bassini satisfying the EFL that he had the means to run the club. He was offered a total of four opportunities to do so and on all four occasions failed either to provide that proof or (on the last two occasions) even turn up to the meetings at which he was supposed to do so. As a result the EFL announced they were not satisfied that Bassini was in a position to complete the takeover and Ken informed Bassini, the EFL and of course the general public that the deal was therefore null and void.

At that point he began to seek a credible buyer but before he was able to do so the club was put into administration then later that same day so was the hotel. The rest we know.

I can't understand why the judge doesn't seem to believe that Mr Bassini failed to honour the terms of that contract and therefore no rights concerning the sale of the club.

Probably more to it than we can garner from news stories LPP. Much like we can’t get the full picture of the FV takeover/Anderson’s running of the club solely using journalist reports and companies house. We only get a tiny amount of information.

T.R.O.Y wrote:Probably more to it than we can garner from news stories LPP. Much like we can’t get the full picture of the FV takeover/Anderson’s running of the club solely using journalist reports and companies house. We only get a tiny amount of information.

I have no doubt you're right and there's a lot more to come but from everything I've been able to piece together the EFL have already effectively said Bassini won't pass the fit and proper person test due to his repeated failure to show proof of adequate funds. Assuming that's true there should be no way any judge should rule in his favour.