Ken Anderson - Old Owner (Definitely. For Ever ..... )
Moderator: Zulus Thousand of em
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Indeed possible but there's a difference between having money and wanting to part with it (which is why "showing you have the cash" is a fairly imprecise measure of nothing much - I guess it "rules out" some people who definitely don't have the cash). You'd sort of assume that they had to show they had access to the necessary, to get to the Heads of Agreement stage...although how validated that was by Anderson is anyone's guess.BWFC_Insane wrote: ↑Thu Mar 14, 2019 10:52 amBringing Michael James on board might support the theory that the buyers are struggling to raise necessary cash to buy it..converting his debt to equity potentially saves a wedge of cash required? Possible?Worthy4England wrote: ↑Thu Mar 14, 2019 10:09 amEvery few days brings the sale of a Championship club, closer to being the sale of a League 1 club...wonder if this has anything to do with the delays...coz surely you wouldn't pay the same amount for a League 1 club...
- BWFC_Insane
- Immortal
- Posts: 36132
- Joined: Mon Jul 09, 2007 4:07 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Indeed. But if Due Diligence revealed some extra debts to cover (or I guess revealed terms of some were not as favourable as hoped) that could have meant cash became more of an issue. I agree that nobody is keen on parting with more than is required. On balance though - does it have a similar feel to the last takeover?Worthy4England wrote: ↑Thu Mar 14, 2019 3:07 pmIndeed possible but there's a difference between having money and wanting to part with it (which is why "showing you have the cash" is a fairly imprecise measure of nothing much - I guess it "rules out" some people who definitely don't have the cash). You'd sort of assume that they had to show they had access to the necessary, to get to the Heads of Agreement stage...although how validated that was by Anderson is anyone's guess.BWFC_Insane wrote: ↑Thu Mar 14, 2019 10:52 amBringing Michael James on board might support the theory that the buyers are struggling to raise necessary cash to buy it..converting his debt to equity potentially saves a wedge of cash required? Possible?Worthy4England wrote: ↑Thu Mar 14, 2019 10:09 amEvery few days brings the sale of a Championship club, closer to being the sale of a League 1 club...wonder if this has anything to do with the delays...coz surely you wouldn't pay the same amount for a League 1 club...
- Lost Leopard Spot
- Immortal
- Posts: 18436
- Joined: Wed May 09, 2012 11:14 am
- Location: In the long grass, hunting for a watering hole.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I keep on remembering a comedy show from years ago.
The Brittas Empire. It has resonance.
The Brittas Empire. It has resonance.
That's not a leopard!
頑張ってください
頑張ってください
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Maybe a little different. At the moment, we have owner/backers * 1. The bidding consortium (if we assumed for the minute there's only the one) would be owners/backers * 4 - with one of them known to be a Bolton fan and known to have some money (albeit might not want to splurge it on football team).BWFC_Insane wrote: ↑Thu Mar 14, 2019 3:12 pmIndeed. But if Due Diligence revealed some extra debts to cover (or I guess revealed terms of some were not as favourable as hoped) that could have meant cash became more of an issue. I agree that nobody is keen on parting with more than is required. On balance though - does it have a similar feel to the last takeover?Worthy4England wrote: ↑Thu Mar 14, 2019 3:07 pmIndeed possible but there's a difference between having money and wanting to part with it (which is why "showing you have the cash" is a fairly imprecise measure of nothing much - I guess it "rules out" some people who definitely don't have the cash). You'd sort of assume that they had to show they had access to the necessary, to get to the Heads of Agreement stage...although how validated that was by Anderson is anyone's guess.BWFC_Insane wrote: ↑Thu Mar 14, 2019 10:52 amBringing Michael James on board might support the theory that the buyers are struggling to raise necessary cash to buy it..converting his debt to equity potentially saves a wedge of cash required? Possible?Worthy4England wrote: ↑Thu Mar 14, 2019 10:09 amEvery few days brings the sale of a Championship club, closer to being the sale of a League 1 club...wonder if this has anything to do with the delays...coz surely you wouldn't pay the same amount for a League 1 club...
- BWFC_Insane
- Immortal
- Posts: 36132
- Joined: Mon Jul 09, 2007 4:07 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Interesting thoughts. I hadn't thought about the extra backers but it is important. If only in moving us away from our current Trump like dictatorship (IF he ever agrees to sell of course).Worthy4England wrote: ↑Thu Mar 14, 2019 3:20 pmMaybe a little different. At the moment, we have owner/backers * 1. The bidding consortium (if we assumed for the minute there's only the one) would be owners/backers * 4 - with one of them known to be a Bolton fan and known to have some money (albeit might not want to splurge it on football team).BWFC_Insane wrote: ↑Thu Mar 14, 2019 3:12 pmIndeed. But if Due Diligence revealed some extra debts to cover (or I guess revealed terms of some were not as favourable as hoped) that could have meant cash became more of an issue. I agree that nobody is keen on parting with more than is required. On balance though - does it have a similar feel to the last takeover?Worthy4England wrote: ↑Thu Mar 14, 2019 3:07 pmIndeed possible but there's a difference between having money and wanting to part with it (which is why "showing you have the cash" is a fairly imprecise measure of nothing much - I guess it "rules out" some people who definitely don't have the cash). You'd sort of assume that they had to show they had access to the necessary, to get to the Heads of Agreement stage...although how validated that was by Anderson is anyone's guess.BWFC_Insane wrote: ↑Thu Mar 14, 2019 10:52 amBringing Michael James on board might support the theory that the buyers are struggling to raise necessary cash to buy it..converting his debt to equity potentially saves a wedge of cash required? Possible?Worthy4England wrote: ↑Thu Mar 14, 2019 10:09 amEvery few days brings the sale of a Championship club, closer to being the sale of a League 1 club...wonder if this has anything to do with the delays...coz surely you wouldn't pay the same amount for a League 1 club...
Is James known to have "money" in football terms? I thought his wealth was considered modest in those sorts of terms? Like 10M ish? or have I mis-read that?
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
We know he's been part of a fairly significant couple of bailouts. In return for assets of course. The sort of size no other bugger has managed since ED though. I'm not suggesting he's going to plough cash in, but might be better than where we're currently at.
Last takeover we were fairly certain Deano didn't have a pot to piss in and Anderson was all for Team Anderson.
Last takeover we were fairly certain Deano didn't have a pot to piss in and Anderson was all for Team Anderson.
- Lost Leopard Spot
- Immortal
- Posts: 18436
- Joined: Wed May 09, 2012 11:14 am
- Location: In the long grass, hunting for a watering hole.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I see the Pullitzer prize is still up for grabs.
That's not a leopard!
頑張ってください
頑張ってください
- BWFC_Insane
- Immortal
- Posts: 36132
- Joined: Mon Jul 09, 2007 4:07 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Yep. Probably getting more concerned that there has been no completion yet and we're up against the wall next Wednesday!Worthy4England wrote: ↑Thu Mar 14, 2019 3:58 pmWe know he's been part of a fairly significant couple of bailouts. In return for assets of course. The sort of size no other bugger has managed since ED though. I'm not suggesting he's going to plough cash in, but might be better than where we're currently at.
Last takeover we were fairly certain Deano didn't have a pot to piss in and Anderson was all for Team Anderson.
- Lost Leopard Spot
- Immortal
- Posts: 18436
- Joined: Wed May 09, 2012 11:14 am
- Location: In the long grass, hunting for a watering hole.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I see the Pullitzer prize is still up for grabs...
That's not a leopard!
頑張ってください
頑張ってください
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
On the plus side, we're the form team against HMRC winders... That bill doesn't feel like one Anderson will stump up.BWFC_Insane wrote: ↑Thu Mar 14, 2019 4:15 pmYep. Probably getting more concerned that there has been no completion yet and we're up against the wall next Wednesday!Worthy4England wrote: ↑Thu Mar 14, 2019 3:58 pmWe know he's been part of a fairly significant couple of bailouts. In return for assets of course. The sort of size no other bugger has managed since ED though. I'm not suggesting he's going to plough cash in, but might be better than where we're currently at.
Last takeover we were fairly certain Deano didn't have a pot to piss in and Anderson was all for Team Anderson.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I'm trying to keep up to speed on this. This HMRC Debt. Do the buyers or Anderson need to pay this before the transfer of shares takes place? I'm totally confused. Or can the purchasers buy and then roll up in court and settle? Anybody know?
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Anderson doesn't owe the tax man (Well not related to this anyhow), Burnden Leisure do. As long as it's paid, HMRC don't really care who paid it. Share Transfer can happen aside from this.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Ah right, cheers Worthy
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
The bit we don't know given Anderson had to pay the salaries, is whether the money to pay the bill is actually there in the Club (I think most people believe not) ... If not then either Anderson would have to find it from somewhere or the buyer pays it or we head into admin/liquidation.
-
- Dedicated
- Posts: 1713
- Joined: Tue Apr 10, 2007 8:53 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Mike Glendinning, stepping in for Iles tweets:
As m'colleague predicted, no news emanating from Wanderers regarding the takeover today and any completion unlikely until some time next week. At best. It's still likely to dominate tomorrow's press conference with PP but keep the fizzy on ice for now
- Lost Leopard Spot
- Immortal
- Posts: 18436
- Joined: Wed May 09, 2012 11:14 am
- Location: In the long grass, hunting for a watering hole.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
It gets more like Brexit every day...
That's not a leopard!
頑張ってください
頑張ってください
- BWFC_Insane
- Immortal
- Posts: 36132
- Joined: Mon Jul 09, 2007 4:07 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I fear that unless the takeover completes before then it’s admin or liquidation.....because I doubt Ken will pay it. Mind I guess having paid the wages he must be feeling surer about said deal.....would love to genuinely know the reason now for the hold up.Worthy4England wrote: ↑Thu Mar 14, 2019 5:34 pmThe bit we don't know given Anderson had to pay the salaries, is whether the money to pay the bill is actually there in the Club (I think most people believe not) ... If not then either Anderson would have to find it from somewhere or the buyer pays it or we head into admin/liquidation.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I think members of the consortium have the money to run the club more sufficiently than the Curious Orange and his weird son have. I just think they are being cautious and who can blame them?
Pfffft.
- Worthy4England
- Immortal
- Posts: 32415
- Joined: Wed May 16, 2007 6:45 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Quite, it's one thing Ken proclaiming the Club has turned a profit, but then it looks like half the operating bills due haven't been paid (which makes it much easier to turn a profit ). to name a few that got a mention:
HMRC,
Salaries (now paid),
GM Police,
Bolton Council Rates,
Hotel (at lease one supplier)
Heathcotes (constantly)
I'm sure when the consortium originally looked, they would have assumed that the running cost bills were broadly up to date. What's crawled out of the woodwork looks to be that they weren't and "forward payment plans" were put in place for some as late as last week, to cover cost that was due/overdue but had not been paid. If I were they, I'd be looking very carefully at each business/person we needed to pay and work out how far behind we were on those payments to see how fast they could put us in court in the future.
- BWFC_Insane
- Immortal
- Posts: 36132
- Joined: Mon Jul 09, 2007 4:07 pm
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Hint from Nixon is that Anderson will try and delay the court hearing with promise of "deal close" take it to 28th - when points deduction applies to next season and threaten admin or liquidation to extract more from the deal with Basran who would know that means buying a club in league 1 on -15 points....Worthy4England wrote: ↑Fri Mar 15, 2019 8:29 amQuite, it's one thing Ken proclaiming the Club has turned a profit, but then it looks like half the operating bills due haven't been paid (which makes it much easier to turn a profit ). to name a few that got a mention:
HMRC,
Salaries (now paid),
GM Police,
Bolton Council Rates,
Hotel (at lease one supplier)
Heathcotes (constantly)
I'm sure when the consortium originally looked, they would have assumed that the running cost bills were broadly up to date. What's crawled out of the woodwork looks to be that they weren't and "forward payment plans" were put in place for some as late as last week, to cover cost that was due/overdue but had not been paid. If I were they, I'd be looking very carefully at each business/person we needed to pay and work out how far behind we were on those payments to see how fast they could put us in court in the future.
As far-fetched as that sounds I personally wouldn't put it past Anderson at this stage. I suspect the buyer will be waiting till as close to 20th as possible to drive price down.
Who is online
Users browsing this forum: No registered users and 235 guests