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

[BWFC_Insane]

Just digging back into the past deals.

In January 2016 - the last big similar event - we were loaned £5.5m (secured against the Whites Hotel) by Prescot Business Park Ltd, whose two directors at the time according to Companies House were 62-year-old Thomas Morris and 57-year-old Michael James. "Mr Morris is worth more than £2 billion, and is thought to be among the richest people in the North West. Industrial property specialist Mr James is known to be a big Whites fan. His late father Michael helped set up toilet roll company F.H. Lee Ltd alongside Wanderers legend Francis Lee."

https://www.theboltonnews.co.uk/news/bo ... tes_Hotel/

This March, Iles wrote that "The £5.5m loan to PBP Ltd was also due in January this year and secured against the club’s hotel but, at time of writing, payment had not been demanded." Ken noted that “If we had to refinance the Michael James loan, we could, because there is an asset there in the hotel.”

https://www.theboltonnews.co.uk/sport/w ... Wanderers/

If the club went into administration, does that mean the hotel would go under too, as it's now back in our ownership?

James is a Bolton fan and I hear happy to support the club (to a point).

Same with ED. Suspect they're paying this between them - hopefully.

[bristol_Wanderer3]

Just digging back into the past deals.

In January 2016 - the last big similar event - we were loaned £5.5m (secured against the Whites Hotel) by Prescot Business Park Ltd, whose two directors at the time according to Companies House were 62-year-old Thomas Morris and 57-year-old Michael James. "Mr Morris is worth more than £2 billion, and is thought to be among the richest people in the North West. Industrial property specialist Mr James is known to be a big Whites fan. His late father Michael helped set up toilet roll company F.H. Lee Ltd alongside Wanderers legend Francis Lee."

https://www.theboltonnews.co.uk/news/bo ... tes_Hotel/

This March, Iles wrote that "The £5.5m loan to PBP Ltd was also due in January this year and secured against the club’s hotel but, at time of writing, payment had not been demanded." Ken noted that “If we had to refinance the Michael James loan, we could, because there is an asset there in the hotel.”

https://www.theboltonnews.co.uk/sport/w ... Wanderers/

If the club went into administration, does that mean the hotel would go under too, as it's now back in our ownership?

Just wondering aloud here really, but I think the club has assets, such as the stadium and the land? So I hope administration (which is something we have hopefully avoided) wouldn't involve anything going under as such. The club would just have to be managed to pay off debts and run within it's means, which would presumably a severely chopped wage bill and a mass exodus in January, or even before on an emergency basis? Mind you, which bank/financial organization would lend to us, even secured against the assets, given the way the business is run? One that would make Blumarble look like Barclays I imagine.

[BWFC_Insane]

Just digging back into the past deals.

In January 2016 - the last big similar event - we were loaned £5.5m (secured against the Whites Hotel) by Prescot Business Park Ltd, whose two directors at the time according to Companies House were 62-year-old Thomas Morris and 57-year-old Michael James. "Mr Morris is worth more than £2 billion, and is thought to be among the richest people in the North West. Industrial property specialist Mr James is known to be a big Whites fan. His late father Michael helped set up toilet roll company F.H. Lee Ltd alongside Wanderers legend Francis Lee."

https://www.theboltonnews.co.uk/news/bo ... tes_Hotel/

This March, Iles wrote that "The £5.5m loan to PBP Ltd was also due in January this year and secured against the club’s hotel but, at time of writing, payment had not been demanded." Ken noted that “If we had to refinance the Michael James loan, we could, because there is an asset there in the hotel.”

https://www.theboltonnews.co.uk/sport/w ... Wanderers/

If the club went into administration, does that mean the hotel would go under too, as it's now back in our ownership?

Just wondering aloud here really, but I think the club has assets, such as the stadium and the land? So I hope administration (which is something we have hopefully avoided) wouldn't involve anything going under as such. The club would just have to be managed to pay off debts and run within it's means, which would presumably a severely chopped wage bill and a mass exodus in January, or even before on an emergency basis? Mind you, which bank/financial organization would lend to us, even secured against the assets, given the way the business is run? One that would make Blumarble look like Barclays I imagine.

Stadium can't be sold due to ACV. Land could be, but not sure we have much left to sell. Other than Lostock?

[Jim_McDonuts]

BOING (x12)

[bristol_Wanderer3]

Iles "Time to cross stuff once again, folks... "

[BWFC_Insane]

Iles "Time to cross stuff once again, folks... "

Ken stalling again?

[Dave Sutton's barnet]

Iles "Time to cross stuff once again, folks... "

Ken stalling again?

I think that's just literally that (at noon) it's 'time'. He's said nowt since in 15 minutes. I sense this deadline may be looser.

[BWFC_Insane]

Iles "Time to cross stuff once again, folks... "

Ken stalling again?

I think that's just literally that (at noon) it's 'time'. He's said nowt since in 15 minutes. I sense this deadline may be looser.

Till January perhaps?

[palindromeofbolton]

Iles "Time to cross stuff once again, folks... "

Ken stalling again?

I imagine him there trying to get them to sign a contract which has "Doidge" crossed out and "BluMarble" written above it, and Eddie with a hand on his shoulder trying to pull him away.
"No, Eddie, no! They get the additional £300k if we sell Magennis to Barcelona for £50m on the 23rd January 2024 at 11.47pm precisely. They can't say that's not fair."

[Jim_McDonuts]

Whoah - am I projecting or has Ilsey's tone gone all dark?

[Jim_McDonuts]

Perhaps not - apologies for fear-mongering/panic-fannying
"All involved are playing down the chances of a penalty but until there is official confirmation from the league, I can't say for sure. "

Jeez, this delay is messing with my head.
Can we collectively sue for loss of earnings/productivity - this has screwed my day royally?

[Athertonian]

I believe the third party could be ED. Also there is more news to come on ED.

[BWFC_Insane]

I believe the third party could be ED.

I'd delete that last bit, personally. Not sure it is appropriate.

[bristol_Wanderer3]

I have been thinking throughout all the last few hours, that I am glad ED is still involved with the club. One guy who we know has the club at heart. So any news that involves him not being able to involved in the future would be very sad indeed, both for him and his family personally and for supporters. I would hate this to be just Ken, with no true BWFC people around, trying to sort things out.

[Dave Sutton's barnet]

Can we collectively sue for loss of earnings/productivity

Alright, Karl Henry...

[BWFC_Insane]

Starting to wonder now.....

If administration is triggered staff have to be informed first. Given a deal done would be a quick thing and then an announcement.....the delay isn't filling me with confidence.

[Jim_McDonuts]

Alright, Karl Henry...

Damn, outed (& Athertonian is Mr Iles:)
You may claim your £10
I was also thinking earlier that what's also interesting is the lack of leaks/rumours/hearsay in all this.
Either very tight ships, or no one knows wtf's going on...

[dave the minion]

Starting to wonder now.....

If administration is triggered staff have to be informed first. Given a deal done would be a quick thing and then an announcement.....the delay isn't filling me with confidence.

Equally, if staff had been informed that we were officially in administration, surely word would have got our from someone so it woudl have been reported (he says trying to put a positive spin on things...)

[Jim_McDonuts]

"Informed there is a hold-up of some sort."
No shit Sherl

[Dave Sutton's barnet]

Iles as-it-stands:

"Settlement figure has been agreed between BluMarble and Ken Anderson.
It is understood a third party has also injected funds to help the deal happen.
A deadline for noon was set (and since passed) but funds have not yet reached the relevant accounts, so the deal is not yet done.
Administration is NOT expected by either side, as things stand, and the delay should not affect this."