The breaking News thread...

[Lost Leopard Spot]

Let me ask this: If the owner is not obligated to pay his staff, who is?

The company is obligated. ED is not the company. He has stated that he is no longer prepared to continue running the company at a loss by pumping his money into the company. Although BWFC argued otherwise on Monday, HMRC were substantially correct - we are insolvent. It's not rocket science...it's not even brain surgery.

[bobo the clown]

Unless he is in very dire financial straits, if there was a genuine and imminent failure to pay ED will stump it up.

Not through soft-hearted, soft-headed emotion but because whatever value he has still in the enterprise will diminish by far more than that tax bill.

As I have said repeatedly.

In other words ... "it'll be reet".

IF he is selling the club for a pound, what exactly is he set to lose?

{sigh} !

[Worthy4England]

Let me ask this: If the owner is not obligated to pay his staff, who is?

The Company Directors. It's a Limited Company.

[BWFC_Insane]

Unless he is in very dire financial straits, if there was a genuine and imminent failure to pay ED will stump it up.

Not through soft-hearted, soft-headed emotion but because whatever value he has still in the enterprise will diminish by far more than that tax bill.

As I have said repeatedly.

In other words ... "it'll be reet".

IF he is selling the club for a pound, what exactly is he set to lose?

{sigh} !

It is a reasonable question. If all he stands to make is a pound upon the sale of the business, why would he pay a multi million pound tax bill?

[TANGODANCER]

Unless he is in very dire financial straits, if there was a genuine and imminent failure to pay ED will stump it up.

Not through soft-hearted, soft-headed emotion but because whatever value he has still in the enterprise will diminish by far more than that tax bill.

As I have said repeatedly.

In other words ... "it'll be reet".

IF he is selling the club for a pound, what exactly is he set to lose?

{sigh} !

It is a reasonable question. If all he stands to make is a pound upon the sale of the business, why would he pay a multi million pound tax bill?

He's probably trying to sell the tax bill with the club and within the pound sale.

[Hoboh]

As Nixon says, we brought in these experts to sell things including the whole club and they can't close any deals.

I have no faith in these 'experts'. 2 months on since Birch arrived and seemingly nothing has improved at all.

Get a grip! Any old tosser can close a deal - it takes more nerve to hold out for the right/best deal. Judge them when the job is done - not before...

I, afraid I don't believe Eddie or his advisors he is paying are necessarily acting in the best interests of the club.

If Eddie truly cared he could at the very least pay the non playing staff until things were sorted.

If YOU really cared, YOU could pay them.

Now that's the sort of thing I say about immigrants, you want 'em you house and feed 'em and I get hauled over the coals by some for saying it!!!

[plymouth wanderer]

As Nixon says, we brought in these experts to sell things including the whole club and they can't close any deals.

I have no faith in these 'experts'. 2 months on since Birch arrived and seemingly nothing has improved at all.

Get a grip! Any old tosser can close a deal - it takes more nerve to hold out for the right/best deal. Judge them when the job is done - not before...

I, afraid I don't believe Eddie or his advisors he is paying are necessarily acting in the best interests of the club.

If Eddie truly cared he could at the very least pay the non playing staff until things were sorted.

If YOU really cared, YOU could pay them.

Now that's the sort of thing I say about immigrants, you want 'em you house and feed 'em and I get hauled over the coals by some for saying it!!!

As do I, fvck people who don't agree.

[Jugs]

Let me ask this: If the owner is not obligated to pay his staff, who is?

The Company Directors. It's a Limited Company.

Right, right.

Well, it's a terrible mess and I genuinely feel for the staff.

[Armchair Wanderer]

Very messy!

I think I read somewhere that no-one could afford the club as it is, so ED had to asset-strip and sell off the players and car park so that he'd be able to sell at a price that people could afford. He's definitely sounding less like a fan to me, if I'm getting all this right. I suppose the other side of the coin is that if ED doesn't maximize his own finances the next owner may well do the same thing anyway. Not allowing money for transfers is one thing but not paying tea ladies is fairly low. If I've understood all this correctly.

[ChrisC]

Will we be in a position to strengthen the squad if a deal is done before the end of January?

If buyers need assets stripped to afford the club then how will they run and improve the club?

It's obviously not the price they can't afford, but the cost of running the club in its current state I presume?

If I'm talking bowlacks then just tell me to STFU

[Armchair Wanderer]

Selling players on high wages makes sense, are we doing that now or is it off again? Can the clubs who are interested afford their wages?

It's mainly the car park I'm upset about. Although to be fair, I'm not even sure which car park it is... surely not THE car park. How much does that cost to run? If they're selling car parks and can't shift any players then it'll be training grounds and stadiums next!

I'm outraged although I've not been following that closely

[BWFC_Insane]

http://m.theboltonnews.co.uk/sport/1421 ... heir_staff_/" onclick="window.open(this.href);return false;

Agree with this article. This isn't even about football. My political sense recoils at the fact that a rich tax exile is choosing to pay his executive mates and pay off footballers contracts over the regular staff many of whom simply cannot afford late or missing wages.

It stinks to high heaven.

If I was a member of staff at the next home game I'd happily super heat Eddies 'specially tasty' pasty and smash it in his face!

[Jugs]

http://m.theboltonnews.co.uk/sport/1421 ... heir_staff_/

Agree with this article. This isn't even about football. My political sense recoils at the fact that a rich tax exile is choosing to pay his executive mates and pay off footballers contracts over the regular staff many of whom simply cannot afford late or missing wages.

It stinks to high heaven.

If I was a member of staff at the next home game I'd happily super heat Eddies 'specially tasty' pasty and smash it in his face!

I agree.

[thebish]

If I was a member of staff at the next home game I'd happily super heat Eddies 'specially tasty' pasty and smash it in his face!

with the greatest respect... don't be such a cock.

[Tombwfc]

Will we be in a position to strengthen the squad if a deal is done before the end of January?

If buyers need assets stripped to afford the club then how will they run and improve the club?

It's obviously not the price they can't afford, but the cost of running the club in its current state I presume?

If I'm talking bowlacks then just tell me to STFU

In terms of running and improving it, Eddie (current version) isn't exactly setting the bar high for good ownership.

Surely anybody who is still in the conversation after all these weeks at least has a plan as to how we're going to pay peoples wages in the near future. That'd be a start.

[Dave Sutton's barnet]

More news (BN report here): the club claim it's the court freezing our assets that means we can't pay our staff.

Bolton Wanderers can confirm that a third validation order hearing has been set for Friday 22 January.

The granting of the order would then allow the club to take further steps towards resolving the immediate and longer term funding issues.

Every effort continues to be made by the board of directors and its advisers to pay staff their due salaries for the month of January and the Club again thanks all its staff for their continued support and commitment at a most challenging time.

The club will continue to update further in due course.

Iles explains:

A validation order is effectively a blessing from the court providing comfort to a bank to allow the club to make a transation. The winding up petition served by HMRC on Monday meant accounts were frozen and that the process could not go ahead without the say so of a court.

We need to buy a bit of land in order to own the complete parcel of land which we'll then sell on to the Middlebrook owners. But first we need the court to allow us to buy that land in order to sell that land in order to pay our wages.

[BWFC_Insane]

More news (BN report here): the club claim it's the court freezing our assets that means we can't pay our staff.

Bolton Wanderers can confirm that a third validation order hearing has been set for Friday 22 January.

The granting of the order would then allow the club to take further steps towards resolving the immediate and longer term funding issues.

Every effort continues to be made by the board of directors and its advisers to pay staff their due salaries for the month of January and the Club again thanks all its staff for their continued support and commitment at a most challenging time.

The club will continue to update further in due course.

Iles explains:

A validation order is effectively a blessing from the court providing comfort to a bank to allow the club to make a transation. The winding up petition served by HMRC on Monday meant accounts were frozen and that the process could not go ahead without the say so of a court.

So we need the court to allow us to sell land in order to pay our wages.

As I understand it, we should have had this sorted earlier. Another cock up.

[Dave Sutton's barnet]

As I understand it, we should have had this sorted earlier. Another cock up.

On what do you base your understanding?

[Enoch]

As I understand it, we should have had this sorted earlier. Another cock up.

On what do you base your understanding?

I was sat sitting here thinking the self, same, thing.

How could anyone, particularly in the middle of a mess like the one BWFC looks to be in just now, not sort out something as straightforward and commonplace as the purchase of a bit of land from some party that just might think they have a hand to play.

Wankers!

[thebish]

One to make DSB's hair curl: " If Moonshift were to pull the plug, it would be the final whistle."

I love 'em. We used to collect 'em. One of my favourites was "five wins out of six became the bedrock to putting far mightier rivals into the shade."

What we talking here, mixed metaphors?

We are indeed. Here's another example:

"...they leave for pastures new resetting the vicious cycle, weakening sides and keeping them in a state of suspended animation, resulting in their failure to compete on the European stage"

stumbled across this one today...

They used to tell a story at Plymouth Argyle, going back to the days when Peter Shilton had been placed in charge of the team, that offers a little snapshot perhaps of how sometimes even the greats of the sport can lose their sheen once they dabble in the unforgiving world of football management.

Shilton was player-manager, or rather goalkeeper-manager, at the time. Plymouth were slipping into trouble in the old Third Division, the fingers of relegation closing round their necks for the second time in three years, and Shilton was trying to encourage his players to believe they could clamber away from the bottom three and rise like a “pheasant from the flames”.

After a slightly awkward silence, someone tentatively pointed out the word he might have been looking for was “phoenix”. Shilton, standing in front of his players as a double European Cup winner and the record England appearance-maker, paused for a few moments to take it in, the realisation dawning that his motivational speech had not gone quite as planned. He needed a line to reassert his authority. “I knew it began with an F,” he said.