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

[BWFC_Insane]

So. Has the bloke who may not exist suddenly failed to reappear. Or has some other fictitious character not taken his place?
Just asking, as we have less than four hours to avoid 12 point deduction next season.

No. We have 4 hours to enter administration if we are to avoid a 12 points deduction.

We have till whenever the court decides to liquidate us to complete a takeover that will not bring any points fine.

I thought I'd seen somewhere that a certain amount of days' notice needs to be given for admin - ie we've already passed the stage at which the points would be deducted this season. But, I might well be wrong.

IMHO, the most likely outcomes are either new owner or liquidation. I'm struggling to see the scenario in which someone is willing to fund admin as the least worst option (for them).

Seems that way yes. Admin seems unlikely right now - I guess it becomes a possibility if Ken no longer believes that a takeover is possible and he or one of the creditors decide to fund admin in order to prevent liquidation.

[Lost Leopard Spot]

So. Has the bloke who may not exist suddenly failed to reappear. Or has some other fictitious character not taken his place?
Just asking, as we have less than four hours to avoid 12 point deduction next season.

No. We have 4 hours to enter administration if we are to avoid a 12 points deduction.

We have till whenever the court decides to liquidate us to complete a takeover that will not bring any points fine.

I thought I'd seen somewhere that a certain amount of days' notice needs to be given for admin - ie we've already passed the stage at which the points would be deducted this season. But, I might well be wrong.

IMHO, the most likely outcomes are either new owner or liquidation. I'm struggling to see the scenario in which someone is willing to fund admin as the least worst option (for them).

Seems that way yes. Admin seems unlikely right now - I guess it becomes a possibility if Ken no longer believes that a takeover is possible and he or one of the creditors decide to fund admin in order to prevent liquidation.

Christ, it's like quantum mechanics. I was asking whether the bloke who possibly doesn't exist has turned up yet?
I'm perfectly aware, thank you very much, of the intricacies of the 12 point deduction or not.
So. To rephrase it without reference to admin and point deductions:
Has the invisible bloke who probably does not exist bought us yet? Or even been named?

[TANGODANCER]

Rachel Riley has been seen entering the building......

[Lost Leopard Spot]

Rachel Riley has been seen entering the building......

Are you sure she wasn't Elvis?

[BWFC_Insane]

So. Has the bloke who may not exist suddenly failed to reappear. Or has some other fictitious character not taken his place?
Just asking, as we have less than four hours to avoid 12 point deduction next season.

No. We have 4 hours to enter administration if we are to avoid a 12 points deduction.

We have till whenever the court decides to liquidate us to complete a takeover that will not bring any points fine.

I thought I'd seen somewhere that a certain amount of days' notice needs to be given for admin - ie we've already passed the stage at which the points would be deducted this season. But, I might well be wrong.

IMHO, the most likely outcomes are either new owner or liquidation. I'm struggling to see the scenario in which someone is willing to fund admin as the least worst option (for them).

Seems that way yes. Admin seems unlikely right now - I guess it becomes a possibility if Ken no longer believes that a takeover is possible and he or one of the creditors decide to fund admin in order to prevent liquidation.

Christ, it's like quantum mechanics. I was asking whether the bloke who possibly doesn't exist has turned up yet?
I'm perfectly aware, thank you very much, of the intricacies of the 12 point deduction or not.
So. To rephrase it without reference to admin and point deductions:
Has the invisible bloke who probably does not exist bought us yet? Or even been named?

The answer to both is no.

And I suspect will remain no for longer than any of us would like.

[TonyDomingos]

Rachel Riley has been seen entering the building......


For the Final Countdown?

[Lost Leopard Spot]

Rachel Riley has been seen entering the building......


For the Final Countdown?

Are you and Enoch related?

[Lost Leopard Spot]

So. Has the bloke who may not exist suddenly failed to reappear. Or has some other fictitious character not taken his place?
Just asking, as we have less than four hours to avoid 12 point deduction next season.

No. We have 4 hours to enter administration if we are to avoid a 12 points deduction.

We have till whenever the court decides to liquidate us to complete a takeover that will not bring any points fine.

I thought I'd seen somewhere that a certain amount of days' notice needs to be given for admin - ie we've already passed the stage at which the points would be deducted this season. But, I might well be wrong.

IMHO, the most likely outcomes are either new owner or liquidation. I'm struggling to see the scenario in which someone is willing to fund admin as the least worst option (for them).

Seems that way yes. Admin seems unlikely right now - I guess it becomes a possibility if Ken no longer believes that a takeover is possible and he or one of the creditors decide to fund admin in order to prevent liquidation.

Christ, it's like quantum mechanics. I was asking whether the bloke who possibly doesn't exist has turned up yet?
I'm perfectly aware, thank you very much, of the intricacies of the 12 point deduction or not.
So. To rephrase it without reference to admin and point deductions:
Has the invisible bloke who probably does not exist bought us yet? Or even been named?

The answer to both is no.

And I suspect will remain no for longer than any of us would like.

That's what happens when invisible men are conjured out of thin air.

[bristol_Wanderer3]

Very little new news today thus far. Suggests no appetite or provision for admin, so the latest position in the BWFC reality ownership spectacular appears to be:

- Administration and taking point hit this season looking very unlikely, and admin now a really bad option as our chances of being promoted out of L1 next season would be severely harmed. And if you don't get out of L1 1st time it is very hard to get out, with three teams at a much higher level joining each year. For us that means £10m min per season operating losses.

- There seems to be some belief (and also some skepticism) a deal will be done early next week with mystery person 1, the one revealed in court last week. Full takeover involving paying off all creditors including a pay off for Ken. Mystery person 1 is thought to exist but his/her identity is still currently unrevealed.

- Ken leaked to the media mystery person 2 yesterday. Given recent history most are very skeptical about the existence of mystery person 2, and despite some wild rumours as to his/her possible identity, the current thinking is this might be part of the "games being played" as Nixon puts it.

- Ken has sent a letter to staff suggesting a takeover has been agreed in principle (again) and is close to completion and as long it is completed within the next 48 hours (from yesterday) then they will be paid their wages on Friday as expected. Some are taking this as code for "I am not responsible for your wages this month, and there is a chance you won't be paid on time". Dependent on your level of cynicism of Ken's word in this whole process, that "chance" could be as high as 99.9%.

- There is a small matter of a game at QPR on Saturday....

- Moonshift (Trustees of ED) have an option to commandeer Ken's whole 94.5% holding in Burnden Leisure if he is found to be in default on the £5m loan they gave him in September. The repayment date was 28th February and it is thought that the option becomes active on 2nd April. If this is the case, and that option is exercised, and isn't challenged, Ken has to deal by 2nd April or lose his ownership role in all of this. Moonshift are very, very unlikely to want to take on ownership of BWFC, so this option only likely to be exercised if it will result in an instant takeover by another party.

- We have another winding up hearing on the 3rd April, the one that was adjourned on the 20th March. Likely scenarios are: We could be granted a further adjournment, we could choose to go into admin at the hearing, or could be issued with a winding up order where we would be days from liquidation.

- If this is still going on then, then we have to get the home games on against Ipswich (6th) and Middlesbrough (9th). Thus we will have to satisfy the local authorities that we have sufficient match day staff and the facility is safe, which will very likely involve paying the appropriate people their wages/fees.

Please don't hesitate to identify and fill in any gaps!!

[Lost Leopard Spot]

Very little new news today thus far. Suggests no appetite or provision for admin, so the latest position in the BWFC reality ownership spectacular appears to be:

- Administration and taking point hit this season looking very unlikely, and admin now a really bad option as our chances of being promoted out of L1 next season would be severely harmed. And if you don't get out of L1 1st time it is very hard to get out, with three teams at a much higher level joining each year. For us that means £10m min per season operating losses.

- There seems to be some belief (and also some skepticism) a deal will be done early next week with mystery person 1, the one revealed in court last week. Full takeover involving paying off all creditors including a pay off for Ken. Mystery person 1 is thought to exist but his/her identity is still currently unrevealed.

- Ken leaked to the media mystery person 2 yesterday. Given recent history most are very skeptical about the existence of mystery person 2, and despite some wild rumours as to his/her possible identity, the current thinking is this might be part of the "games being played" as Nixon puts it.

- Ken has sent a letter to staff suggesting a takeover has been agreed in principle (again) and is close to completion and as long it is completed within the next 48 hours (from yesterday) then they will be paid their wages on Friday as expected. Some are taking this as code for "I am not responsible for your wages this month, and there is a chance you won't be paid on time". Dependent on your level of cynicism of Ken's word in this whole process, that "chance" could be as high as 99.9%.

- There is a small matter of a game at QPR on Saturday....

- Moonshift (Trustees of ED) have an option to commandeer Ken's whole 94.5% holding in Burnden Leisure if he is found to be in default on the £5m loan they gave him in September. The repayment date was 28th February and it is thought that the option becomes active on 2nd April. If this is the case, and that option is exercised, and isn't challenged, Ken has to deal by 2nd April or lose his ownership role in all of this. Moonshift are very, very unlikely to want to take on ownership of BWFC, so this option only likely to be exercised if it will result in an instant takeover by another party.

- We have another winding up hearing on the 3rd April, the one that was adjourned on the 20th March. Likely scenarios are: We could be granted a further adjournment, we could choose to go into admin at the hearing, or could be issued with a winding up order where we would be days from liquidation.

- If this is still going on then, then we have to get the home games on against Ipswich (6th) and Middlesbrough (9th). Thus we will have to satisfy the local authorities that we have sufficient match day staff and the facility is safe, which will very likely involve paying the appropriate people their wages/fees.

Please don't hesitate to identify and fill in any gaps!!

Excellent update. Thanks.

[TonyDomingos]

Very little new news today thus far. Suggests no appetite or provision for admin, so the latest position in the BWFC reality ownership spectacular appears to be:

- Administration and taking point hit this season looking very unlikely, and admin now a really bad option as our chances of being promoted out of L1 next season would be severely harmed. And if you don't get out of L1 1st time it is very hard to get out, with three teams at a much higher level joining each year. For us that means £10m min per season operating losses.

- There seems to be some belief (and also some skepticism) a deal will be done early next week with mystery person 1, the one revealed in court last week. Full takeover involving paying off all creditors including a pay off for Ken. Mystery person 1 is thought to exist but his/her identity is still currently unrevealed.

- Ken leaked to the media mystery person 2 yesterday. Given recent history most are very skeptical about the existence of mystery person 2, and despite some wild rumours as to his/her possible identity, the current thinking is this might be part of the "games being played" as Nixon puts it.

- Ken has sent a letter to staff suggesting a takeover has been agreed in principle (again) and is close to completion and as long it is completed within the next 48 hours (from yesterday) then they will be paid their wages on Friday as expected. Some are taking this as code for "I am not responsible for your wages this month, and there is a chance you won't be paid on time". Dependent on your level of cynicism of Ken's word in this whole process, that "chance" could be as high as 99.9%.

- There is a small matter of a game at QPR on Saturday....

- Moonshift (Trustees of ED) have an option to commandeer Ken's whole 94.5% holding in Burnden Leisure if he is found to be in default on the £5m loan they gave him in September. The repayment date was 28th February and it is thought that the option becomes active on 2nd April. If this is the case, and that option is exercised, and isn't challenged, Ken has to deal by 2nd April or lose his ownership role in all of this. Moonshift are very, very unlikely to want to take on ownership of BWFC, so this option only likely to be exercised if it will result in an instant takeover by another party.

- We have another winding up hearing on the 3rd April, the one that was adjourned on the 20th March. Likely scenarios are: We could be granted a further adjournment, we could choose to go into admin at the hearing, or could be issued with a winding up order where we would be days from liquidation.

- If this is still going on then, then we have to get the home games on against Ipswich (6th) and Middlesbrough (9th). Thus we will have to satisfy the local authorities that we have sufficient match day staff and the facility is safe, which will very likely involve paying the appropriate people their wages/fees.

Please don't hesitate to identify and fill in any gaps!!

Excellent update. Thanks.

Great summary. Thank you. The only gap I have identified is the one between Ken's ears.

[Dave Sutton's barnet]

https://www.thesun.co.uk/sport/football ... igh-court/

BOLTON are in talks with former Watford owner Laurence Bassini about taking over the club. Controversial businessman Bassini bought and sold the Hornets to the Pozzo family and now has his sights on a surprise deal for Wanderers...

London-based Bassini could have problems with the Football League over his suitability after being declared bankrupt in the past. He will also have to provide proof of funding and show he has the cash to run the stricken club in the future. However the League may come under pressure to accept Bassini as an owner or lose Bolton and wipe out their results this season...

Rival bidders Football Ventures have left negotiations while broker Peter Kenyon continues to wait in the wings.

Bassini was declared bankrupt, then bought Watford (passing Fit & Proper Persons Test), then sold it, then was declared bankrupt again.

God knows.

[Enoch]

https://www.thesun.co.uk/sport/football ... igh-court/

BOLTON are in talks with former Watford owner Laurence Bassini about taking over the club. Controversial businessman Bassini bought and sold the Hornets to the Pozzo family and now has his sights on a surprise deal for Wanderers...

London-based Bassini could have problems with the Football League over his suitability after being declared bankrupt in the past. He will also have to provide proof of funding and show he has the cash to run the stricken club in the future. However the League may come under pressure to accept Bassini as an owner or lose Bolton and wipe out their results this season...

Rival bidders Football Ventures have left negotiations while broker Peter Kenyon continues to wait in the wings.

Is this story still running!

Too.

[jmjhb]

Nicko probably needs to sell a few papers

[malcd1]

https://www.thesun.co.uk/sport/football ... igh-court/

BOLTON are in talks with former Watford owner Laurence Bassini about taking over the club. Controversial businessman Bassini bought and sold the Hornets to the Pozzo family and now has his sights on a surprise deal for Wanderers...

London-based Bassini could have problems with the Football League over his suitability after being declared bankrupt in the past. He will also have to provide proof of funding and show he has the cash to run the stricken club in the future. However the League may come under pressure to accept Bassini as an owner or lose Bolton and wipe out their results this season...

Rival bidders Football Ventures have left negotiations while broker Peter Kenyon continues to wait in the wings.

Bassini was declared bankrupt, then bought Watford (passing Fit & Proper Persons Test), then sold it, then was declared bankrupt again.

God knows.

Sounds even worse than Ken.

https://en.wikipedia.org/wiki/Laurence_Bassini

Bassini's tenure at Watford will forever be remembered by Watford fans as a period of clown-like incompetence and financial impropriety culminating in the comical 'Safegate' scandal when just prior to the sale of the club in June 2012 Bassini called the police after an employee refused to hand him the keys to the club safe. He'll also be remembered for always wearing a ridiculous red builders helmet whenever he gave an interview to the local paper

Considering he was declared bankrupt in 2014, how is he going to stump up for the cash to pay for our club and pay the bills on a mothly basis? I hope he isn't going to re-mortgage the entire club. Is the stadium still subject to the 'Asset of Community Value' judgement?

[bristol_Wanderer3]

Not sure if Bassini is Mystery Person 1,2, or even 3. Nixon suggesting Mystery Person 1 has come and gone, whilst others apparently itk are suggesting that Mystery Person 1 is the one who is going to clear all debts and do a deal early next week. Yet Nixon suggesting it is Bassini who is now the front runner. Nixon also suggesting Paul Aldridge will remain under Bassini, so all links to KA may not be severed. Marvellous.

More to come on the tragi-comedy that is the BWFC reality ownership spectacular.....

[BWFC_Insane]

https://www.thesun.co.uk/sport/football ... igh-court/

BOLTON are in talks with former Watford owner Laurence Bassini about taking over the club. Controversial businessman Bassini bought and sold the Hornets to the Pozzo family and now has his sights on a surprise deal for Wanderers...

London-based Bassini could have problems with the Football League over his suitability after being declared bankrupt in the past. He will also have to provide proof of funding and show he has the cash to run the stricken club in the future. However the League may come under pressure to accept Bassini as an owner or lose Bolton and wipe out their results this season...

Rival bidders Football Ventures have left negotiations while broker Peter Kenyon continues to wait in the wings.

Bassini was declared bankrupt, then bought Watford (passing Fit & Proper Persons Test), then sold it, then was declared bankrupt again.

God knows.

Sounds even worse than Ken.

https://en.wikipedia.org/wiki/Laurence_Bassini

Bassini's tenure at Watford will forever be remembered by Watford fans as a period of clown-like incompetence and financial impropriety culminating in the comical 'Safegate' scandal when just prior to the sale of the club in June 2012 Bassini called the police after an employee refused to hand him the keys to the club safe. He'll also be remembered for always wearing a ridiculous red builders helmet whenever he gave an interview to the local paper

Considering he was declared bankrupt in 2014, how is he going to stump up for the cash to pay for our club and pay the bills on a mothly basis? I hope he isn't going to re-mortgage the entire club. Is the stadium still subject to the 'Asset of Community Value' judgement?

He cannot be funding it solo. If he is then the league are more useless than we imagined. The source of the money will be speculated upon for years assuming this is real and happening, which may be a large assumption.

[TANGODANCER]

All sounding like a Keystone Kops auction with the Marx Brothers waiting in the wings with sack fulls of Monopoly money.

[Lost Leopard Spot]

You are all getting panicky fannyist.
There never were a buyer 1, or 2, nor 3.

Blank piece of paper

Kenny boy is fly fishing. Which means he still has a seat on the riverbank, a rod, and some line. The fact he's rented them and payment is overdue is neither here nor there...

[bristol_Wanderer3]

You are all getting panicky fannyist.
There never were a buyer 1, or 2, nor 3.

Blank piece of paper

Kenny boy is fly fishing. Which means he still has a seat on the riverbank, a rod, and some line. The fact he's rented them and payment is overdue is neither here nor there...

Well, one of them needs to be real or we get liquidated soon. This Bassini stuff today does feel like KA media manipulation.

My concern is always that buying us outright makes zero financial sense, and those that apparently do show an interest KA manages to dissuade. And we are headed full speed towards the cliff edge...