Question about a fan takeover

[Prufrock]

I think it's unlikely he's "lost" £180m in the real sense. It's not all money that would otherwise be in his bank account (though it's not all money that wouldn't, either). A hefty chunk at least was interest he presumably intended to get back but now realises he won't (along with the actual loan itself, which surely IS real money). I'm also sure that he had advisers making the whole thing as tax-efficient as possible (and he'd have been an idiot to do otherwise). I'm sure he's also kept his finances apart enough that if it did all go south his own family and lifestyle would still be fine.

But "despite" all those caveats (which aren't even reasons to crticise, just what any non-nutter would do) he's still put an astronomical amount of cash in. He saved this club when it was on its knees, and he bankrolled us through the most successful period most of us can remember. He's not infallible, but his positive contributions to this club outweigh his negatives to such a degree that the latter are barely worth taking into account when considering his status.

Cheers, Eddie!

[Beefheart]

I think it's unlikely he's "lost" £180m in the real sense. It's not all money that would otherwise be in his bank account (though it's not all money that wouldn't, either). A hefty chunk at least was interest he presumably intended to get back but now realises he won't (along with the actual loan itself, which surely IS real money). I'm also sure that he had advisers making the whole thing as tax-efficient as possible (and he'd have been an idiot to do otherwise). I'm sure he's also kept his finances apart enough that if it did all go south his own family and lifestyle would still be fine.

But "despite" all those caveats (which aren't even reasons to crticise, just what any non-nutter would do) he's still put an astronomical amount of cash in. He saved this club when it was on its knees, and he bankrolled us through the most successful period most of us can remember. He's not infallible, but his positive contributions to this club outweigh his negatives to such a degree that the latter are barely worth taking into account when considering his status.

Cheers, Eddie!

Aye, as mentioned in the other thread some of the £180m is probably interest 'owed' that was never paid out and so just tacked on instead. But it's still a lot of money.

[BWFC_Insane]

I've read in the Bolton News today that Lennon hopes a takeover is done in time for January to allow him some spends. The Bolton news seem to suggest that is the aim.

But I wonder how realistic that truly is? From what we know we are still at the stage of talking to a number of parties trying to uncover what funding they have available. From there we then presumably enter into a period of exclusivity with one party whilst the finer details are discussed and numbers put on the table. Then there is due diligence and Football league approval. Then the formalities of takeover.

I don't know how quickly football clubs change hands, but similar size business deals can take considerably longer than 4 weeks from a similar point. Even from the point of an agreement in principle.

Just wondered if anyone had any prior knowledge of a likely timescale even if everything ran smoothly?

[Worthy4England]

I've read in the Bolton News today that Lennon hopes a takeover is done in time for January to allow him some spends. The Bolton news seem to suggest that is the aim.

But I wonder how realistic that truly is? From what we know we are still at the stage of talking to a number of parties trying to uncover what funding they have available. From there we then presumably enter into a period of exclusivity with one party whilst the finer details are discussed and numbers put on the table. Then there is due diligence and Football league approval. Then the formalities of takeover.

I don't know how quickly football clubs change hands, but similar size business deals can take considerably longer than 4 weeks from a similar point. Even from the point of an agreement in principle.

Just wondered if anyone had any prior knowledge of a likely timescale even if everything ran smoothly?

I suspect this is somewhat easier than many business deals, in that it's small and to be honest, what more could the current owner try and ascertain other than the buyer seemingly has enough funds to back their bid and pay up on the asking price? It's not like Company A is Contracting something to Company B. Effectively it's little different than selling your house - I've got one of these and here's the asking price.

As for Football League approval - That can't be too tricky given we let despotic tyrants take over football clubs etc.

I'm a little uncertain as to what DD (although I'm sure there'll be some going on) would actually achieve? ED and Trev might try and validate that there are the funds available for the ongoing, but once take-over is executed, they no longer have any say as the ownership has changed hands...so whether those funds remain in the future is pure conjecture anyhow...

[Riviman]

Take over may not come in time as wages for November have not been paid !!

http://www.theboltonnews.co.uk/sport/wa ... s_deepens/" onclick="window.open(this.href);return false;?

http://www.dailymail.co.uk/sport/footba ... paign=1490" onclick="window.open(this.href);return false;

[Bruce Rioja]

Take over may not come in time as wages for November have not been paid !!

Indeed. Ont' th'offish.....

Bolton Wanderers Football Club can today, Monday 30 November, confirm that the first team playing squad are yet to receive their wages for the month of November.

This is due to the ongoing situation surrounding the club's ownership off the field.

Trevor Birch, recently appointed as adviser to the Bolton Wanderers board and owner, said: "This is due to a short-term funding issue. We are working hard behind the scenes and hope to have this resolved in a quick and timely manner and I will be meeting the players tomorrow to update them."

[BWFC_Insane]

Wonder if any will refuse to play tonight?

[Riviman]

Wonder if any will refuse to play tonight?

Would we notice a difference?

[Bruce Rioja]

Bolton Wanderers Football Club can today, Monday 30 November, confirm that the first team playing squad are yet to receive their wages for the month of November.

This is due to them being on performance related pay.

[boltonboris]

Wonder if any will refuse to play tonight?

Fvckin' told you

October wages paid late too

I hope they do refuse to be honest.

[BWFC_Insane]

Wonder if any will refuse to play tonight?

Fvckin' told you

October wages paid late too

I hope they do refuse to be honest.

I only doubted that they hadn't been paid for October yet no story had broken.

This has broken pretty quickly, which is what I'd expect if players aren't paid on time!

Be interested what happens tonight as PFA are in mediating which to me sounds like there is a problem potentially with some playing today.....

[boltonboris]

Well to be honest, we'll see who isn't in the squad and know who they are - Would they really want to subject themselves to the wrath of fans if they refuse to turnout?

I mean come on, some of them have been made millionaires by this club and they've been fvckin dreadful.. I think they kind of OWE it to us fans.

Obviously I expect them to get the back-pay and for it to be sorted ASAP as I imagine they have a lifestyle that is justified by what they earn, but I'd be severely pissed off with any player that doesn't show tonight.

[boltonboris]

Bolton Wanderers Football Club can today, Monday 30 November, confirm that the first team playing squad are yet to receive their wages for the month of November.

This is due to them being on performance related pay.

[BWFC_Insane]

Well to be honest, we'll see who isn't in the squad and know who they are - Would they really want to subject themselves to the wrath of fans if they refuse to turnout?

I mean come on, some of them have been made millionaires by this club and they've been fvckin dreadful.. I think they kind of OWE it to us fans.

Obviously I expect them to get the back-pay and for it to be sorted ASAP as I imagine they have a lifestyle that is justified by what they earn, but I'd be severely pissed off with any player that doesn't show tonight.

Agreed. But of course it entirely depends what the situation is. If they can't be paid because there isn't anything to pay them with, it could be months of no wages which could leave some in trouble as they will all have bills commensurate with their incomes.

If they are genuinely getting paid a few days late then yes for any to refuse would be absolutely disgraceful.

But if there is genuine uncertainty and lack of clarity it might be more excusable, if they feel they aren't being told the honest truth about things.

[Peter Thompson]

Well to be honest, we'll see who isn't in the squad and know who they are - Would they really want to subject themselves to the wrath of fans if they refuse to turnout?

I mean come on, some of them have been made millionaires by this club and they've been fvckin dreadful.. I think they kind of OWE it to us fans.

Obviously I expect them to get the back-pay and for it to be sorted ASAP as I imagine they have a lifestyle that is justified by what they earn, but I'd be severely pissed off with any player that doesn't show tonight.

Great post....

Lets see now how much the players care about the fans & the club, after all its not as if they are short of a bob or two - I'm sure they'll get paid in a week or so.

[BWFC_Insane]

Well to be honest, we'll see who isn't in the squad and know who they are - Would they really want to subject themselves to the wrath of fans if they refuse to turnout?

I mean come on, some of them have been made millionaires by this club and they've been fvckin dreadful.. I think they kind of OWE it to us fans.

Obviously I expect them to get the back-pay and for it to be sorted ASAP as I imagine they have a lifestyle that is justified by what they earn, but I'd be severely pissed off with any player that doesn't show tonight.

Great post....

Lets see now how much the players care about the fans & the club, after all its not as if they are short of a bob or two - I'm sure they'll get paid in a week or so.

Whilst they may get paid a decent amount I'm sure their mortgages and bills are relative to that.

Whilst I think few of us would down tools if our pay was a few days late, if we worked for businesses in huge debt who were looking for buyers and suddenly didn't have our wages paid would we genuinely just carry on and ignore it? I doubt it.

Again I suspect they will play tonight and I'd be fairly annoyed if they didn't. But for many people not getting paid would be a major problem and whilst they are earning thousands a week their outgoings may equal that. And this may be as bad as it would be for any of us.

If the club are honest and communicate well and genuinely can resolve this quickly then I have little sympathy with players. But why aren't we paying their wages? Is it because there isn't anything to pay them with?

[Bruce Rioja]

Isn't there some law/rule that allows a player to terminate their contract if they haven't been paid for x amount of time? Didn't that happen somewhere or have I dreamed it up?

[LeverEnd]

Well to be honest, we'll see who isn't in the squad and know who they are - Would they really want to subject themselves to the wrath of fans if they refuse to turnout?

I mean come on, some of them have been made millionaires by this club and they've been fvckin dreadful.. I think they kind of OWE it to us fans.

Obviously I expect them to get the back-pay and for it to be sorted ASAP as I imagine they have a lifestyle that is justified by what they earn, but I'd be severely pissed off with any player that doesn't show tonight.

Agreed. But of course it entirely depends what the situation is. If they can't be paid because there isn't anything to pay them with, it could be months of no wages which could leave some in trouble as they will all have bills commensurate with their incomes.

If they are genuinely getting paid a few days late then yes for any to refuse would be absolutely disgraceful.

But if there is genuine uncertainty and lack of clarity it might be more excusable, if they feel they aren't being told the honest truth about things.

They've been paid and delivered feck all for ages. Anyone who refuses is a first class c*nt. If they've still not been paid by Christmas that's a different matter.
I imagine the mediation is about getting answers and guarantees rather than convincing players to turn out.

[Hoboh]

Isn't there some law/rule that allows a player to terminate their contract if they haven't been paid for x amount of time? Didn't that happen somewhere or have I dreamed it up?

Not 100% on this I think it's if a club goes into admin I know something like this went down at Rangers, might be different in the English league, sorry.

[LeverEnd]

Isn't there some law/rule that allows a player to terminate their contract if they haven't been paid for x amount of time? Didn't that happen somewhere or have I dreamed it up?

Not 100% on this I think it's if a club goes into admin I know something like this went down at Rangers, might be different in the English league, sorry.

Let's make a list of who we want to do that in order of preference. And Bobo, don't forget Trotter IS being paid by the charitable Mr D freedman.