Thank you Bob, I appreciate your views.
However I've no idea how you've interpreted several things of what I've previously posted, I can only imagine I've not been clear in how I've written some of the stuff, if so I apologise to you and anyone else misunderstanding what I've wrote so please allow me to attempt to rectify that below.
I've never said or even implied Eddie should have taken on the loan from BM , let alone not settle it 10 days after the club was taken over???
What I have been attempting to say was instead of Holdsworth taking on the loan and in so doing become integral to the whole thing (and that as you freely admit was a major problem to anyone else involved- because he had no money and had taken on a £5m debt with with no money as such personally to his name, put into his company he had just set up for a quid (Sports Shield Investments) and no means of paying it off?) then why didn't the club (not Eddie personally!!!) - Bolton Wanderers FC - which Eddie owned prior to the sale - take out a loan against their remaining assets directly with a loan company (it needed not have been BM) and have the same assets secured against by them and achieve exactly the SAME THING without having Holdsworth involvement in any way, shape or form???
It would have taken Holdsworth out of the picture entirely, not effect Anderson in anyway other to benefit him by not being saddled with a joint owner of the company he was taking on and who could add nothing to the running of it either financially or from his non existent business acumen?
There was absolutely no need for Holdsworth's involvement at all, other than maybe a deflection as such leading up to the sale with all eyes on him and Gordon and non at all on Ken Anderson?
It could have been sold to the fans that the Holdsworth deal collapsed at the very last minute but Anderson stepped in, saved the day and stopped it falling in to Administration by becoming the new sole owner.
In short I can't understand any logic for Holdsworth to be there at all let alone become joint owner!!!
As for Eddie 'turning off the taps'.
I've always said it had been 'known' that for some years prior to the eventual sale that the club was available for purchase and that Eddie wanted to step back from it.
I'd read somewhere (maybe even something you had said) that he had given the club notice that he intended to stop funding it some 18 months before, which would place that to be in 2014, so it all seems to fit - I don't have any problem with any of that.
What I can't understand and which seems to undermine this intention is the action of the club KNOWING and being fully aware of what was about to happen???
For example on the 10th December, 2015 the club made an this official statement saying that the club failed to pay its monthly tax bill to HMRC for November -
Update from Bolton Wanderers regarding the club's current HMRC situation
Bolton Wanderers can confirm that the club has now received a winding up petition from HMRC in respect of unpaid PAYE and VAT for the month of November.
Despite requests from the club to HMRC to give it further time to either conclude a sale or raise additional funds, HMRC has proceeded with due process and duly served a petition.
Trevor Birch, advisor to the board and owner at Bolton Wanderers, said: “Quite clearly the club remains in a critical financial position. We will continue to try and finalise a sale or alternatively raise some short term funds needed to give the club a breathing space and time in which to consider its options.”https://www.bwfc.co.uk/news/2015/december/club-statement/
So if it could not pay the taxman in November how then could it seem to think it could afford the signing of a player (Ben Amos) on a FOUR YEAR deal at £16k per week, in July 2015
, just a matter of some four months earlier???https://www.bwfc.co.uk/news/2015/july/ben-amos-completes-bolton-wanderers-move/
Fwiw this was attributed to Iles in November -
According to friend of the site Marc Iles, short term funding options are said to involve the sale of the hotel and offices at the Macron Stadium.https://lionofviennasuite.sbnation.com/2015/12/10/9885774/bolton-wanderers-formally-issued-with-winding-up-petition-from-hmrc
PBP went on to secure against the hotel on 29th January, 2016, with the infamous BM loan secured as well on the club sale on 17th March, 2016.
So £10m worth of loans needed to be put into the club within a matter of months after signing a player to a FOUR YEAR deal at £16k per week???
It certainly doesn't sound like a business that had had a 18 months notice to get itself ready for the withdrawal of its principle financial benefactor does it?
I'm not saying Eddie didn't give notice and maybe the financial mess was down to Phil Gartside illness but never the less Eddie MUST have known that the financial position the club was in meant he either stuck to his guns, turn off the taps and walk away and let the club take its chances OR keep involved in someway and prop it up from his own wealth.
He didn't turn his back and walk away - we know that so why then did he get Holdsworth tied up in becoming joint owner of the club and takeout the BM loan and pay it to Sports Shield Investment - when he as Bolton Wanderers FC could have done exactly the same with Holdsworth's involvement at all???
Another thing I've pondered on but never mentioned before because I'm not knowledgeable about such facts is how much was actually borrowed from BM?
We know BM had security on BWFC for £5m and that only £4m was received by the club.
An explanation between the two amounts is the £4m was borrowed but £5m secured in case of default and to cover accruing interest charges.
However I have noted that when the Administrators settled the charges on assets to allow the club and hotel to be sold they paid out the secured sum PLUS additional interest.
For example PBP secured £5m on the hotel but the settlement amount from the Administrator was £6,482,425 (p10 of 28 of the Administrators Progress Report, 12th December, 2019).https://find-and-update.company-information.service.gov.uk/company/03674979/filing-history
It would seem to me on that basis therefore that the BM loan WAS for £5m handed over to Holdsworth's SSI - although I can't find any mention of it on the company's accounts - for the year ending 31st July, 2016.https://find-and-update.company-information.service.gov.uk/company/09712490/filing-history
Maybe there is stuff I'm not aware of but on the face of it and compared to what the Admin (appointed by Ken Anderson remember) paid to PBP it does tend to suggest that £1m does seem not to be fully explained as to what happened to it?
Anyway the bottom line to ALL of this is that whatever did happen, happened.
Holdsworth was involved, his company took out the BM loan and put £4m into the club (secured on £5m of assets), Anderson had to sort the mess out and Eddie did not walkaway from the club as he might of planned but put millions more into it leading up to his untimely death.