I smell a rat... and its Eddie Davies.

Thanks for that LPP. I'll just add it to the list of how the club have managed to shaft the supporters over the years. I knew something wasn't right after the booklet, voting forms, etc, for the AGM stopped arriving after a couple of years.  

gloswhite wrote:Thanks for that LPP. I'll just add it to the list of how the club have managed to shaft the supporters over the years. I knew something wasn't right after the booklet, voting forms, etc, for the AGM stopped arriving after a couple of years.  

Always look on the bright side.      Phil lost his as well.

I think Eddie has given up on the club.

He wants his money back

My Dad went to the AGM yesterday.

The change to a private limited company is simply down to costs - it will cost them a lot less over the next 10 years going down this route. There was no cover up or peoples shares being made worthless.

Dougie Freedman spoke well and openly admitted there were too many players on ridiculous wages who had absolutely no motivation whatsoever. Several of them have made it quite clear they will not go anywhere until the end of their contract, regardless of any offers. An example was made of one player who has a multi-millionaire girlfriend and simply sees football as a hobby, some days he simply can't be arsed and there's nothing the club can do about it.

When asked why he didn't leave these players out of the squad he said his hands were tied as none of the young players are good enough right now.

Thanks for that Nat, interesting read. I'd speculate that Sordell is the footballer who sees it as a hobby, would certainly explain his attitude problem.

Natasha Whittam wrote:My Dad went to the AGM yesterday.

The change to a private limited company is simply down to costs - it will cost them a lot less over the next 10 years going down this route. There was no cover up or peoples shares being made worthless.

Dougie Freedman spoke well and openly admitted there were too many players on ridiculous wages who had absolutely no motivation whatsoever. Several of them have made it quite clear they will not go anywhere until the end of their contract, regardless of any offers. An example was made of one player who has a multi-millionaire girlfriend and simply sees football as a hobby, some days he simply can't be arsed and there's nothing the club can do about it.

When asked why he didn't leave these players out of the squad he said his hands were tied as none of the young players are good enough right now.

Makes lots of sense and Dougie's stand against those who take from us and who do not perform is first rate.  Give him credit for that!

The more we look, the more we see the cracks, and I for one, wouldn't be surprised to see something really big happening either before or during the summer break.

From someone who was at the meeting yesterday -

Motion passed to become a Ltd company, told it would not affect the shares(worthless anyway).
Purchase of Whites hotel .... didn't pay for it but took on their debts of just over £1 mill and on track to turn that round .
Loan from ED is repayable on a particular date 10 years hence, at moment we are not putting away 16 mill a year to cover the loan.
If something happened to ED it wouldn't affect the loan as it is to the company (moonshine?) Not personally to ED.
Dougie came in and talked and answered questions for 45min , in short:
too many over paid and underperforming players inherited from past manager, little he can do to move them on, no one wants to pay their wages. Looking for youngsters to start coming through next season when high paid players have moved on as they'll be out of contract. 2 players will be in on loan next week one a striker.
Asked why take Mason on loan when had our own young strikers? Said, Eaves not ready yet needs game time, Sordell - hinted(!!!) Not worth the money paid by Coyle or the high wages he is on(can't argue with that). Says that the way forward is bringing on the U18s and U21s. C Davies now fit after hamstring injuries and will play some part tomorrow either start or on bench, a strong team will be playing not a time to blood youngsters.

There were a number of quite detailed questions and answered regarding various figures and aspects on the balance sheet.
Oh and PG does not like the Bolton News .
We were told that as it was a private meeting it should not be reported on outside the room, all the above is therefore just my thoughts on what might have happened if I had attended !! Any resemblance to any living person is pure coincidence.

Hope you don't mind Sluffy but i've posted the middle part of that about Dougie onto the Reebok Roar page on Facebook.

Certainly makes sense, especially what Nat said about players not leaving the club until their contracts have run outm the main player I think of in that situation is Mears.

Sluffy wrote:From someone who was at the meeting yesterday -

Motion passed to become a Ltd company, told it would not affect the shares(worthless anyway).
Purchase of Whites hotel .... didn't pay for it but took on their debts of just over £1 mill and on track to turn that round .
Loan from ED is repayable on a particular date 10 years hence, at moment we are not putting away 16 mill a year to cover the loan.
If something happened to ED it wouldn't affect the loan as it is to the company (moonshine?) Not personally to ED.
Dougie came in and talked and answered questions for 45min , in short:
too many over paid and underperforming players inherited from past manager, little he can do to move them on, no one wants to pay their wages. Looking for youngsters to start coming through next season when high paid players have moved on as they'll be out of contract. 2 players will be in on loan next week one a striker.
Asked why take Mason on loan when had our own young strikers? Said, Eaves not ready yet needs game time, Sordell - hinted(!!!) Not worth the money paid by Coyle or the high wages he is on(can't argue with that). Says that the way forward is bringing on the U18s and U21s. C Davies now fit after hamstring injuries and will play some part tomorrow either start or on bench, a strong team will be playing not a time to blood youngsters.

There were a number of quite detailed questions and answered regarding various figures and aspects on the balance sheet.
Oh and PG does not like the Bolton News .
We were told that as it was a private meeting it should not be reported on outside the room, all the above is therefore just my thoughts on what might have happened if I had attended !! Any resemblance to any living person is pure coincidence.

Obviously the naysayers will pooh pooh this or find hidden messages in what may have been said, but honestly it makes sense.  If we could get rid of Sordell and Mears, we would have.  Obviously they like their paid vacation.  I wonder if the club could make their lives miserable enough that they would want to move on.  I'm sure the Nuts could supply some wardens to oversee that task and they would both deserve this type of punishment.  Thanks Sluffy for not telling us about a private meeting... but it seems to make sense from the financial side.  Of course, it also may make sense, if Eddie was preparing to sell the club and putting the financials in order.  Dougie... repeat after me, Buy low and Sell high (not the Bolton way, but trust me, it works better that way)!

Buy low and sell high, is a good way to go. However, to do that you have to bring on the players to a high standard, and it seems to be taking Dougie a long time to blood the ones he's got.

Still trying to understand football finances, and pretty much failing. 
So I dug this thread up. Always nice to look back. Still no wiser though.

boltonbonce wrote:Still trying to understand football finances, and pretty much failing. 
So I dug this thread up. Always nice to look back. Still no wiser though.

Even those of us who know a little about company finances often have difficulty understanding some football clubs finances too!

They seem something of a law unto themselves at times!

I personally think you need to understand the motive of the owner of the club to get a feel for what is most probably going on - as for most other business the motive is profit and/or continued sustainability - but this is not always the case in football club ownership.

If you can't see their motive, then it is almost impossible comprehended what is actually going on (at the time) - and that basically is why I don't understand FV's intent, or direction they are taking us in.

Is it believable that they want to spend millions of their (or someone else's) wealth just for the privilege to be a football club owner for a few years?

Well maybe.

I don't believe it myself.

As the saying goes though, it is better to travel hopefully than to arrive.

C'est la vie!