Question about a fan takeover

[Worthy4England]

I recall Oldham's pitch - weren't they the Prem's top scorers (maybe just at home) and got relegated?

[Bruce Rioja]

I played on the plastic pitch at Deepdale. My knees still bear the scars!

[Dave Sutton's barnet]

what ARE the rules when brackets intervene between "an" and a word starting with a vowel - and the first word in the bracket does not start with a vowel? This has often puzzled me - I'm sure there must be a rule...

Yeah. The rule is: rewrite it.

[bobo the clown]

I played on the plastic pitch at Deepdale. My knees still bear the scars!

You should have stayed on your feet. Sheesh. Do I have to tell you everything !!?

[thebish]

what ARE the rules when brackets intervene between "an" and a word starting with a vowel - and the first word in the bracket does not start with a vowel? This has often puzzled me - I'm sure there must be a rule...

Yeah. The rule is: rewrite it.

[Athers]

Though I guess it's a different argument once you've already built the stadium. But yeah, not sure there's a market for ANOTHER carphone warehouse. And demolishing a stadium can't be cheap. I've never got folk who buy football stadiums. It's like the opposite of a monopoly.

Although if you own the only stadium in town and rent it out to the only football club in town it's a pretty good monopoly you've got!

[Bruce Rioja]

I played on the plastic pitch at Deepdale. My knees still bear the scars!

You should have stayed on your feet. Sheesh. Do I have to tell you everything !!?

I was a full back. Doing the work that you midfield types wimped out of.

[bobo the clown]

I played on the plastic pitch at Deepdale. My knees still bear the scars!

You should have stayed on your feet. Sheesh. Do I have to tell you everything !!?

I was a full back. Doing the work that you midfield types wimped out of.

Fckg journeyman.

Oi ... go & mug the ball for me will you. I'm busy thinking about the game.

[Aanvalluh]

On a scale of 0 - 10, with 10 being the most likely, what are the chances of Bolton going into administration either before or after the takeover?
Is it inevitable as the debts (whether Eddie/his family want any of his money back or not) are so great that no-one with an IQ above 2 would throw a penny at it?

[Bruce Rioja]

I played on the plastic pitch at Deepdale. My knees still bear the scars!

You should have stayed on your feet. Sheesh. Do I have to tell you everything !!?

I was a full back. Doing the work that you midfield types wimped out of.

Fckg journeyman.

Oi ... go & mug the ball for me will you. I'm busy thinking about the game.

Yeah, will you just slide in and get kneed in the temple by this one that's just made a fecking mug of me?

[Dave Sutton's barnet]

Wouldn't be great PR if they'd tagged that on, though: "Trevor Birch has been brought in to handle negotiations, and if it all goes tits-up, well, he's dealt with that shit before an' all."

Still, some questions:

Why would we go into administration after a takeover?
Why would new owners want us to go into administration?
Why would the transfer of ownership force us into administration?

[Athers]

With vast majority of the debt owed to ED rather than the bank or HMRC I'd say administration is unlikely. I'd think that ED would rather sell for an £Xm amount than end up with a mess, -10pts and eventually being offered 1p in the £1 for his debt anyway.

[bobo the clown]

{{Sigh}}

The ONLY 'advantage' would be if ED & all that he has are close to administration. Even then it seems a sure fire way of making himself worse off.

AFTER a take-over, only if the new owners had the view that they'd run-off with the silver and got the club at such a knock-down price that they could afford to go into administration and take that hit as the new business would still be worth vastly more than they paid, plus the fire-sale losses.

Remember ... on calling in the Administrators, the owners hand over the books and assets to a bunch of pure & utter number crunchers. There is not one once of emotion in what they do. So they'd force a sale of any viable assets before they can start defaulting on creditors, large or small. So Euxton ... worth (say) £6m ... sell it in a month for £2m. The Hotel, £4m ... "OK ... who'll give me £1m asap ?". Mark Davies, skilful but slightly used footballer worth £3m .... OK Reading, that'll be £500k here & now mind".

Only once that's been done with ALL our viable assets can we then offer x in the £ to people we owe.

Why would ANYONE do that unless there was utterly, completely, no other choice ?

[Prufrock]

1/10. And that's being generous. Why on earth would we go into administration if there's a take-over. The only tiny chance of it happening is if ED genuinely is broke, there is no buyer and we can't afford the payments on what is a relatively small loan to the bank without selling assets. Ain't gonna happen. ED doesn't need to "get out" of the debt, he owes it to himself. If he finds a way of not paying the debt, it's balanced by the fact he doesn't receive the debt. It's a zero-sum game.

[Prufrock]

There's not "no money left", there's "no money left beyond that needed to cover the day-to-day running". If ED was genuinely up against it, we'd have seen a fire-sale by now because, as Bobes points out, once you go into administration it's out of your hands, and they'll take pretty big cuts on market rate just to sell things. If ED was getting towards the point where he couldn't put more in at all, we'd have started to see things being flogged off. As we haven't, it's clearly he *has* cash, he's just had enough of chucking it down this bottomless-well.

[Aanvalluh]

For this reason I think it's far more important for football clubs to admit their financial situation than, sy, the tesco's and Morrison's of this world.

If the team's results improve and Bolton climb up the table, after Xmas I'm sure they will be trying to flog season tickets. So fans make a financial committment in early spring to buy a ticket on the assumption you will be watching second tier football.

Then before the deadline-day, the club goes into admin and is docked 10 points = relegation. So your season ticket isn't the value you thought it was.

On the flip side, if fans are unsure about the financial plight, they won't buy those tickets until the last possible moment, so denying the club some cash it needs to get it out of trouble (in the short term at least) and avoid admin. And, of course, if every other club knows you will sell for peanuts they will be in like a swarm of seagulls.

Dammed if you do...dammed if you don't.

As for Euxton (sp??) I know that Bury are using Carrington (City's ex); are Bury getting that facility for free/low rent? Would have thought Bolton could sell Euxton and use part of the proceeds to gazump whatever Bury are paying and have those facilities for themselves? Of course having to go down the M60 every day means the players would spend more time in their cars than actually training!

[BWFC_Insane]

Administration only seems a possibility if we get to the point of being unable to make the repayments on our relative small bank loans. The only way that is likely to happen is if Eddie is totally broke himself and cannot maintain day to day running costs.

That is the path to administration.

Beyond that I don't see one, unless we ended uo with reckless new owners.

[Worthy4England]

Looking at the situation regarding administration, there are debts we owe that aren't to ED. Due within one year, according to the 2014 Accounts, we had £11m of loans and overdrafts. £3m in Trade Creditors. £2m to the tax man. £3.8m in deferred income (season ticket monies that we'd received and accounted for, but are actually a forward revenue), and £17m in accruals - Grand total £38m. I suspect the accrual is in relation to Moonshift Investments, but can't be sure....

If we assumed it was, we're still £20m in the hock. Which would be more than enough without anyone putting cash in, to send us into admin.

[Bruce Rioja]

If I was asked now to renew my STfor next season I don't know whether I would or not! It almost feels like a duty, like I'm doing my bit to help out whether I go to the games or not, but then I remember that shithouses like Gary Madine probably earn in 12 weeks what I earn in 52.

[BWFC_Insane]

If I was asked now to renew my STfor next season I don't know whether I would or not! It almost feels like a duty, like I'm doing my bit to help out whether I go to the games or not, but then I remember that shithouses like Gary Madine probably earn in 12 weeks what I earn in 52.

I would renew but like you I'd do it more out of loyalty than out of a desire to go to the games each week.