The breaking News thread...

[Hoboh]

^ so - to be clear... you think ED should fly back from barbados and just sell the club to Sports Shield today, ignoring everything else?

No. I just think questions should be asked. I don't think they are unfair questions.

I don't believe automatically that every decision Eddie Davies makes should be instantly assumed to be in the best interests of the club. If you do then fine, but in another context you'd be asking the same questions, I am sure.

I want the best possible buyer found. But in my view that is the buyer MOST able and willing to financially support the club. If there was a local business consortium prepared to do this, they wouldn't need the Trust and could already have made a bid.

If Eddie is ignoring his advisors, who recommended the SS bid earlier this week, I'd like to know why, personally.

No offence and I'm far from a fan of Eddie Davies with the state he allowed the club to get in, but why the feck should he tell anyone anything? All his tenure of the club has been shrouded in mystery, why would he change now?

[thebish]

^ so - to be clear... you think ED should fly back from barbados and just sell the club to Sports Shield today, ignoring everything else?

No. I just think questions should be asked. I don't think they are unfair questions.

so - you think we should take MORE time? (which seems to be exactly what we are doing) - despite you insisting we have no time...

[Hoboh]

^ so - to be clear... you think ED should fly back from barbados and just sell the club to Sports Shield today, ignoring everything else?

No. I just think questions should be asked. I don't think they are unfair questions.

so - you think we should take MORE time? (which seems to be exactly what we are doing) - despite you insisting we have no time...

If HMRC don't get paid before the second hearing, I suspect that will be a definitive 'D' day.

[BWFC_Insane]

Anyhow, listening to Richard Hurst on Bolton FM.

I do think he's coming across well.

[Hoboh]

Anyhow, listening to Richard Hurst on Bolton FM.

I do think he's coming across well.

Appreciate a summary of this, impartial if you could manage it.

[BWFC_Insane]

Anyhow, listening to Richard Hurst on Bolton FM.

I do think he's coming across well.

Appreciate a summary of this, impartial if you could manage it.

Basically said that they have 30 local businesses who expressed interest in backing a takeover. Good.

Said there is no involvement from current BWFC board or ownership. Lots of people asking this question. Good.

Said he has worked with PG but isn't a personal friend. Fair enough.

Had a question about how club would be run - said he believed it needed to be run as a business and make a profit. His whole philosophy would be that it is run like a business and within its means. Hmmm.

Very definitely didn't like being asked questions about the way club has been run. Did not want to criticise Eddie or the board - and that part felt a little worrying to me based on his previous conviction of how it had been run. Especially the line he used when asked about the fact club has been losing money for a decade "yes but the money was owed to the owner". That rang some alarm bells to me!

[BWFC_Insane]

Says trust not diverse enough currently, all white middle aged men!

Apologises for not being able to respond to the offers of help/support. (But they think the can run the club?)

Club costs have exceeded income and no business can run like that.

Want to make credible bid before Feb 22nd. Want to see books ASAP.

Need to get financial information from the club.

[Bruce Rioja]

Had a question about how club would be run - said he believed it needed to be run as a business and make a profit. His whole philosophy would be that it is run like a business and within its means. Hmmm.

I don't understand your "Hmmm" here. The reason we're in the mire right now is because this hasn't happened. You're not hoping for another 'benefactor' are you?

[BWFC_Insane]

Question, does ST running club hold back the club financially, without big benefactor?

Answer - Success in football proportionate to amount of money. Very difficult for ST to run a club effectively because they won't have huge resources or benefactor behind them. Hurst's personal aim is to stabilise and slowly build, so it becomes recognisable club (league one or championship) that could attract further investment to improve success.

Don't know what the debts are. Needs to ensure football club retains assets including training ground, hotel and ground itself. Assets are crucial in any takeover.

Plan is - see accounts, create business plan, pitch to local businesses for investment, put bid to club.

[Lost Leopard Spot]

I think Eddie would see it as face saving.

I think that that's the least of his considerations.

Not according to Iles.

Is Iles on Barbados as well?. How the fxck does Iles know what Eddie is thinking?
Didn't Iles demand an interview the other day and get roundly ignored?
Iles is not telepathic, stop keep telling us what you think Iles thinks Eddie thinks. Just tell us what you think ffs!

[BWFC_Insane]

Had a question about how club would be run - said he believed it needed to be run as a business and make a profit. His whole philosophy would be that it is run like a business and within its means. Hmmm.

I don't understand your "Hmmm" here. The reason we're in the mire right now is because this hasn't happened. You're not hoping for another 'benefactor' are you?

Well ultimately yes - in fact Hurst went on to say that is what he wants. But it was more hmmmm, given he then went on to defend how the club had been run, despite the obvious question "but it hasn't been run in the way you describe?"

[BWFC_Insane]

And here is an interesting thing. Sports Shield had to put money down into the solicitors account to get a proper look at the books.

Whereas the ST are asking to see the accounts and books without any money down.

Lets see if they are truly afforded the same process SS have been.

[Dave Sutton's barnet]

Marc Iles, who genuinely seems to like the ST, is also tweeting the Hurst interview.

Richard Hurst explaining members of the steering gp -two lawyers, barrister, senior accountant, @ContinuumCFP plus Chris, Ian and Mike

Hurst: "None of the current board involved with steering group or board." Explains his relationship with PG... "Not a personal friend."

Hurst explains there have been discussions with PG over Middlebrook Masterplan via his role on Bolton Arena trust board.

Hurst: Bid from ST would not succeed if assets (stadium, training ground etc) were not involved in the sale

Hurst: Club being sold for nothing. Money we need to raise it to pay off immediate debts & ongoing business. Club has to be run as business.

Hurst confirms he is NOT associated with board, and they are NOT part of steering gp, or plans for @BWFCST

Hurst: We're not diverse enough - we're white, middle aged men! We want BWFC to represent community.

Hurst on funding and sustainability: "We would like to be in a credible bid before February 22."

Hurst: "In order to convince people to put money forward we need a basic financial plan from club."

Hurst: "Dream would be we can buy club, stabilise, make club profit making, slowly build it over 3-5yrs and maybe attract a white knight

Hurst: About 30 individuals businesses and institutions have said they will put money forward.

Hurst: We need to look at books of club, create a business plan and put it forward to our investors.

Loads of info from Richard Hurst there. I'll boil it down for easy digestion but well done to folks at @BoltonFM - made good radio.

[Lost Leopard Spot]

So basically BWFCST is a consortium of local businesses in the guise (fronted up in the Mafia's parlance) of a fan's group.

[Beefheart]

Aye, even if you can get 30 local businesses to stump up enough cash for at takeover. Will they be compelled to keep pumping cash in to cover on going losses? If it's set up so that they are obligated, how many will still want to be involved?

I see another pie in the sky bid if I'm honest.

If any of them had any serious money behind them they'd have bought the club by now.

[Peter Thompson]

So basically BWFCST is a consortium of local businesses in the guise (fronted up in the Mafia's parlance) of a fan's group.

It seems that way at the moment at least. It may well be their intention to be a supporters trust in the long run, but going off their plan to take over by the 22nd February (which I still maintain is completely fecking unrealistic) it's more "local business consortium" than "run by everyday fans".

Agree with this....

It may be well intended and genuine but its just speculative with very little foundation or substance - if we want to be like Portsmouth then fine, just about existing but going nowhere then it may work, but if this is the future for BWFC I'm out - give me Sports Shield or the Koreans any day of the week (but hopefully in the next 2 or 3 weeks !)

30 local businesses all putting in say between £250k - £500k each, which admittedly is to be admired, but to me its a recipe for disaster (too many cooks etc....), as all will want some say in the running of the club as why else would you put that amount of money in the club. You can't knock the ST for trying to save the club and if it was say 2 or 3 local businesses putting in £5M each then that would be completely different and much more like what we need IMO

[Peter Thompson]

Hurst: "In order to convince people to put money forward we need a basic financial plan from club."

It sounds like the ST doesn't yet have a credible business plan or even a business plan full stop & they only have these 30 local businesses who may possibly be interested and are yet to be convinced....to be honest I'm finding it difficult to even take them seriously.

[Worthy4England]

I think we have to be in a position where we let them have a go at creating a plan, before rushing to the conclusion they're chancing it. We don't know who they're talking to and are speculating wildly around made up numbers as to how much clout they might have. Why not just wait and see?

[Harry Genshaw]

They still owe for room hire at the Macron the other week don't they?!

[Beefheart]

Aye, even if you can get 30 local businesses to stump up enough cash for at takeover. Will they be compelled to keep pumping cash in to cover on going losses? If it's set up so that they are obligated, how many will still want to be involved?

I see another pie in the sky bid if I'm honest.

If any of them had any serious money behind them they'd have bought the club by now.

Exactly, even those more successful or affluent of the 30 businesses will likely have most of their cash tied into assets that they won't be happy or physically able to free up at our current expense rate. I just can't see this being done to an adequate level in the current timeframe which is why I moved fully into #teampanicfanny yesterday and hope that we go to SSC. I've never seen a rushed business plan end well.

I suppose if SSC aren't going to buy their club, this lot could help them cut their losses by giving them some money to look at any due diligence work they've done (I'm assuming they've done some of course).