Ken Anderson - Old Owner (Definitely. For Ever ..... )

[officer_dibble]

No, sadly I agree. And I think Ken and his family have done a pretty decent job of everything else to date as well for the record.

[Worthy4England]

It was only, 24 hours from...

[Worthy4England]

Oh whilst we're at it. "Asset of Community Value" - good thing or a bad thing. I know there's a lot of mistrust of the Supporters Trust (not sure I fully understand why - not that I'm subscribed to it), but on balance, I think it's not a bad thing necessarily - whilst there's so much conjecture over the Finances.

http://www.theboltonnews.co.uk/sport/wa ... ium_order/

Not sure Ken's logic stands up. I don't get how an ACV that might slow down any sale, stops us buying back assets....

[officer_dibble]

Not 100% but I suspect it will register as a charge on the title through land registry and become an extra legal search on any land transactions involving any of the land with this charge. They may not be complicated (lawyers will love it) but I imagine the simple fact its a rare / new charge will just add another layer of complexity to any land deal. Anything thats not standard usually conplicates matters and can hold up deals and the like.

[BWFC_Insane]

Oh whilst we're at it. "Asset of Community Value" - good thing or a bad thing. I know there's a lot of mistrust of the Supporters Trust (not sure I fully understand why - not that I'm subscribed to it), but on balance, I think it's not a bad thing necessarily - whilst there's so much conjecture over the Finances.

http://www.theboltonnews.co.uk/sport/wa ... ium_order/

Not sure Ken's logic stands up. I don't get how an ACV that might slow down any sale, stops us buying back assets....

Is the land they want to buy back part of the ACV? Also does Ken want to borrow against assets covered under the ACV?

[Worthy4England]

Good spot. That could be it, if it restricts not just selling but using as collateral.

[BWFC_Insane]

Good spot. That could be it, if it restricts not just selling but using as collateral.

Doesn't restrict using as collateral per se. But I'm told it reduces value of assets and many lenders won't touch an ACV for obvious reasons.

[Worthy4England]

Good spot. That could be it, if it restricts not just selling but using as collateral.

Doesn't restrict using as collateral per se. But I'm told it reduces value of assets and many lenders won't touch an ACV for obvious reasons.

Ok - done a little more digging. It seems that all it ostensibly grants is a 6 month window in which said "community group" could put in a bid (If I'm reading it right) - In terms of value it doesn't need to be preferential, so if KA wanted to flog the hotel for £150m (typically stupid figure) and had a buyer, all that happens is he's got to inform the Community Group that he's selling it, and that's the price. They can then put a 6 month moratorium on the sale to allow them to prepare a competing offer.

I'm not sure there is "obvious reasons" as things like "bankruptcy" - so a lender's ability to capitalize their asset - is (as I read it) exempt, along with a lot of other get out of jail clauses...

[boltonboris]

I think it's more a case of Anderson wanting to flog the ground and lease it back.

[Nicko58]

It's bad f*cking news if he's contemplating flogging the stadium.

The ACV grants the local authority or council compulsory purchase rights "if the asset is under threat of long-term loss to the community". Presumably that might prevent Ken from selling it to someone who plans to flatten it and build houses in its place (in theory at least) but might it also have an affect on the value of the asset if wanting to remortgage it or secure loans against it?

[officer_dibble]

They wouldnt get planning in a million years on building houses on it. Not without some massive changes in circumstance which would have to benefit BWFC.

The ACV makes it a pig to get through legals (delays of 6 months, read 12) sonany buy back/lease type deal for the stadium or land pr the hotel, offices etc becomes a nightmare. Wouldnt help our short term situation.

Having said that Leeds have just bought back elland road this summer (from the council whonhave a vested interest in helping the citys football team). Not owning it hurt them in the past few years. If we did a sale/lease back I wouldnt be happy.

[Bruce Rioja]

I've been reading 'ACV' as 'AVC' for a day now and wondering who on earth would tie their pension payments up in our ground?

[officer_dibble]

Hahaha! You would be absolutely bonkers. Same as buying shares in burnden leisure or whatever it was floated as.

[Bruce Rioja]

Hahaha! You would be absolutely bonkers. Same as buying shares in burnden leisure or whatever it was floated as.

Exactly

[LeverEnd]

Wages and bonuses to out of contract players still not paid. PFA lobbying EFL to take actions. Accounts not filed and Blumarble further adjourned so no end in sight for embargo. Serious trouble and all too predictable with Honest Ken and family in charge. Absolute fcuking liars.


http://www.theboltonnews.co.uk/sport/15 ... rs_players

[BWFC_Insane]

Wages and bonuses to out of contract players still not paid. PFA lobbying EFL to take actions. Accounts not filed and Blumarble further adjourned so no end in sight for embargo. Serious trouble and all too predictable with Honest Ken and family in charge. Absolute fcuking liars.


http://www.theboltonnews.co.uk/sport/15 ... rs_players

Think that is going a bit far. Pay the players absolutely. That bit is unforgivable.

The rest is not entirely under our owners control. Don't see anyone else lining up to give BM £7M for 30 percent of the club.

Accounts need signing off by directors. Suspect Deano is not exactly cooperative.

[officer_dibble]

I wonder what Jay Spearing thinks when we are trying to get him to sign back on!

[LeverEnd]

Wages and bonuses to out of contract players still not paid. PFA lobbying EFL to take actions. Accounts not filed and Blumarble further adjourned so no end in sight for embargo. Serious trouble and all too predictable with Honest Ken and family in charge. Absolute fcuking liars.


http://www.theboltonnews.co.uk/sport/15 ... rs_players

Think that is going a bit far. Pay the players absolutely. That bit is unforgivable.

The rest is not entirely under our owners control. Don't see anyone else lining up to give BM £7M for 30 percent of the club.

Accounts need signing off by directors. Suspect Deano is not exactly cooperative.

Then he shouldn't be making bullshit promises in his bullshit column that he can't keep. Absolutely lost count of the number of deadlines he's proclaimed and missed. We're heading for a big fall with this chancer in charge. I simply don't believe a single word that comes from him or the club. Constantly being dragged through the mud. Thought for ages the worst is yet to come and am.more convinced by the week. Hows he paying July wages?

[Worthy4England]

Wages and bonuses to out of contract players still not paid. PFA lobbying EFL to take actions. Accounts not filed and Blumarble further adjourned so no end in sight for embargo. Serious trouble and all too predictable with Honest Ken and family in charge. Absolute fcuking liars.


http://www.theboltonnews.co.uk/sport/15 ... rs_players

Think that is going a bit far. Pay the players absolutely. That bit is unforgivable.

The rest is not entirely under our owners control. Don't see anyone else lining up to give BM £7M for 30 percent of the club.

Accounts need signing off by directors. Suspect Deano is not exactly cooperative.

In fairness, the previous Auditors were none too keen, either - that's a matter of (very official) record. The (new) Auditors have to sign them off too.

What do you think was occurring when Deloitte's resigned as Auditors?

Their beef seemed to be twofold. One was that the Directors couldn't substantiate going concern basis. (Auditors couldn't see line of sight to the additional funding required to keep the business afloat.) and the other was they couldn't validate the "subsequent events" (takeover).

Those two statements really mean one of two things. The owner doesn't have the ability to run a business - in the best light they've been stupid. Or someone is being a lot more clever than transparent...I know where my money lies.

Do we know if the assets secured against the Blumarble loan would be 30%? I don't think it was ever disclosed anywhere (unless it was in one of KA's "proclamations") and whilst it's a matter of disagreement between KA and Deano the original split was 47.5% each...

[BWFC_Insane]

Wages and bonuses to out of contract players still not paid. PFA lobbying EFL to take actions. Accounts not filed and Blumarble further adjourned so no end in sight for embargo. Serious trouble and all too predictable with Honest Ken and family in charge. Absolute fcuking liars.


http://www.theboltonnews.co.uk/sport/15 ... rs_players

Think that is going a bit far. Pay the players absolutely. That bit is unforgivable.

The rest is not entirely under our owners control. Don't see anyone else lining up to give BM £7M for 30 percent of the club.

Accounts need signing off by directors. Suspect Deano is not exactly cooperative.

In fairness, the previous Auditors were none too keen, either - that's a matter of (very official) record. The (new) Auditors have to sign them off too.

What do you think was occurring when Deloitte's resigned as Auditors?

Their beef seemed to be twofold. One was that the Directors couldn't substantiate going concern basis. (Auditors couldn't see line of sight to the additional funding required to keep the business afloat.) and the other was they couldn't validate the "subsequent events" (takeover).

Those two statements really mean one of two things. The owner doesn't have the ability to run a business - in the best light they've been stupid. Or someone is being a lot more clever than transparent...I know where my money lies.

Do we know if the assets secured against the Blumarble loan would be 30%? I don't think it was ever disclosed anywhere (unless it was in one of KA's "proclamations") and whilst it's a matter of disagreement between KA and Deano the original split was 47.5% each...

Ken owns 30% of sports shield bwfc, and Marc Iles reports that his portion of the club's shares from sis bwfc would be 'protected' from any winding up action, should the court eventually wind up SS BWFC, that's what Iles wrote at least. Ken insisted on that when buying that from Deano.

The reason the auditors couldn't sign off the accounts imo is that Ken couldn't guarantee funding until the Bm issue was resolved. It is said he has investors to come in if that can be sorted. Whether that is true or not, you decide.