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

[Dave Sutton's barnet]

Bassini said in his Talksport interview that he had no backers. All monies to be invested is his alone.
It may be of interest that King Power are not held in particularly high regard in Thailand, be it by visitors or residents. They have a monopoly currently being broken up, so the future of Leicester City may not be quite so rosy.
The other Thai owned club is Sheffield Wednesday. Their owners; the John West brand plus others; have previously fallen foul of EU fishing regulations. Wednesday were under a transfer embargo at the beginning of the season, might still be. Think on that while you eat your tuna and cucumber lunchtime butty.

F*ck that, I'd rather have lunch with Ken. I despise tuna more.

Meanwhile...

Telegraph's giving it the exclusive, breaking-news, done-deal job.

https://www.telegraph.co.uk/football/20 ... uy-bolton/

[BWFC_Insane]

Telegraph's giving it the exclusive, breaking-news, done-deal job.

https://www.telegraph.co.uk/football/20 ... uy-bolton/

I mean....the EFL clearance on such a deal (whilst we all rightly mock the EFL) will still need proof and source of funds...which to me was always the biggest stumbling block here.....

[Dave Sutton's barnet]

Big question and concern regarding Bassini (above the obvious ones to do with him and his lack of money), is what would be the ongoing involvement of Paul Aldridge, or even the Andersons, if any?

Iles is at pains to point out that Aldridge is employed by Ken, not BWFC. Don't know what that means moving forward.

Telegraph's giving it the exclusive, breaking-news, done-deal job.

https://www.telegraph.co.uk/football/20 ... uy-bolton/

I mean....the EFL clearance on such a deal (whilst we all rightly mock the EFL) will still need proof and source of funds...which to me was always the biggest stumbling block here.....

Quite so; I'm just reporting the reporting, and although the Telegraph is a quivering shadow of the paper it used to be, it still employs yer actual journalists.

As for the EFL, remember they're still convinced Ken can afford the season. I think they'd take anyone just to kick the can down the road. If we pop next season, it's not on Harvey's watch.

[BWFC_Insane]

Big question and concern regarding Bassini (above the obvious ones to do with him and his lack of money), is what would be the ongoing involvement of Paul Aldridge, or even the Andersons, if any?

Iles is at pains to point out that Aldridge is employed by Ken, not BWFC. Don't know what that means moving forward.

Telegraph's giving it the exclusive, breaking-news, done-deal job.

https://www.telegraph.co.uk/football/20 ... uy-bolton/

I mean....the EFL clearance on such a deal (whilst we all rightly mock the EFL) will still need proof and source of funds...which to me was always the biggest stumbling block here.....

Quite so; I'm just reporting the reporting, and although the Telegraph is a quivering shadow of the paper it used to be, it still employs yer actual journalists.

As for the EFL, remember they're still convinced Ken can afford the season. I think they'd take anyone just to kick the can down the road. If we pop next season, it's not on Harvey's watch.

Not critiquing the reporting - just that its caveated by saying "requires EFL approval". Whilst we know what that means there will still be a need to deposit a large sum of money in an account and verify its origins. So until that is done, I'd still say "this is not yet done".

[Worthy4England]

Sky now reporting Bassini deal as complete...

[Dave Sutton's barnet]

Not critiquing the reporting - just that its caveated by saying "requires EFL approval". Whilst we know what that means there will still be a need to deposit a large sum of money in an account and verify its origins. So until that is done, I'd still say "this is not yet done".

Christ no - we shan't yet be pulling down the Ken statue in front of celebrating locals. And in truth, Bassini saying something's done is hardly a watertight guarantee. But it's a development.

[BWFC_Insane]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

[TonyDomingos]

Big question and concern (above the obvious ones to do with him and his lack of money), is what would be the ongoing involvement of Paul Aldridge, or even the Andersons, if any?

Heard from a very good source that as part of the deal Lee Anderson is guaranteed first dibs on matchday mascot.

And Ken's taking over the catering gig from Paul Heathcote...make sure you go to the game well supped and fed everyone....

So, you're saying our new friend piesrus is, in fact, Ken? Interesting. I'd have thought liesrus might be a more fitting user name.

[Worthy4England]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

You see that as being any sort of hindrance?

[Dave Sutton's barnet]

Iles. https://www.theboltonnews.co.uk/sport/1 ... wanderers/

[BWFC_Insane]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

You see that as being any sort of hindrance?

No. Although I would say that the funds thing - he has to prove their existence and where they come from. We know that his past indiscretions are "irrelevant" to the EFL. But the money - they do still insist on that. Like DH's £5M loan - they knew the money was there and its source. They didn't like the source so they put the club into an extended embargo and monitoring period.

[TonyDomingos]

As has been said several times, Bassini is better than liquidation. But, even if he can satisfy the EFL that he has sufficient resources, we'll be back in court within 12 months. Can't see this ending well at all.

[Worthy4England]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

You see that as being any sort of hindrance?

No. Although I would say that the funds thing - he has to prove their existence and where they come from. We know that his past indiscretions are "irrelevant" to the EFL. But the money - they do still insist on that. Like DH's £5M loan - they knew the money was there and its source. They didn't like the source so they put the club into an extended embargo and monitoring period.

It doesn't actually prove anything much useful though does it. The Sports Shield loan became an instant hindrance financially. The bloke that ended up at the reigns pretty much said in his first "speeches"...the monitoring period wasn't paying much attention to quite a lot of the underlying problems - such as most of the big debts being "repayable within 12 months" etc. the monitoring if it was done was completely ineffectual.

[Dave Sutton's barnet]

As has been said several times, Bassini is better than liquidation. But, even if he can satisfy the EFL that he has sufficient resources, we'll be back in court within 12 months. Can't see this ending well at all.

At all? You're an imaginative man, Tony, surely you can?

Here's one pissibolity: Bassini comes in. He's inept. But the club severs ties with Anderson. The club's still losing money, Bassini realises he's in over his head. Puts club up for sale again. Sells club, perhaps at a small profit to him, perhaps not. New owners don't mind because (1) they actually have money and (2) they don't have to deal with Ken.

Bassini was only at Vicarage Road for 14 months. Might not even last that long this time. But if it gets Ken out, it might be worth it.

[Bruce Rioja]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

Aye, it's 'breaking' on the BBC too.

[Dave Sutton's barnet]

CLUB STATEMENT
https://www.bwfc.co.uk/news/2019/april/club-statement2/

Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson's shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.

This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.

The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.

We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.

Outgoing Chairman Ken Anderson said: "I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future."

Prior to the ratification by the EFL, significant funds will be immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff along with a number of the long term creditors.

Once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.

Further comments including an interview with Mr Bassini will follow in due course.

[Worthy4England]

Sky now reporting Bassini deal as complete...

That's what he's telling everyone...but its subject to EFL clearance.

You see that as being any sort of hindrance?

No. Although I would say that the funds thing - he has to prove their existence and where they come from. We know that his past indiscretions are "irrelevant" to the EFL. But the money - they do still insist on that. Like DH's £5M loan - they knew the money was there and its source. They didn't like the source so they put the club into an extended embargo and monitoring period.

It doesn't actually prove anything much useful though does it. The Sports Shield loan became an instant hindrance financially. The bloke that ended up at the reins pretty much said in his first "speeches"...the monitoring period wasn't paying much attention to quite a lot of the underlying problems - such as most of the big debts being "repayable within 12 months" etc. the monitoring if it was done was completely ineffectual.

[piesrus]

Oh dear. It will end in tears.

[Worthy4England]

CLUB STATEMENT
https://www.bwfc.co.uk/news/2019/april/club-statement2/

Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson's shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.

This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.

The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.

We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.

Outgoing Chairman Ken Anderson said: "I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future."

Prior to the ratification by the EFL, significant funds will be immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff along with a number of the long term creditors.

Once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.

Further comments including an interview with Mr Bassini will follow in due course.

Some bold statements in there - especially about wiping the existing loans and charges - as well as sorting out all the back-pay and long term debts...that's some serious money spent there, if true.

[TonyDomingos]

As has been said several times, Bassini is better than liquidation. But, even if he can satisfy the EFL that he has sufficient resources, we'll be back in court within 12 months. Can't see this ending well at all.

At all? You're an imaginative man, Tony, surely you can?

Here's one pissibolity: Bassini comes in. He's inept. But the club severs ties with Anderson. The club's still losing money, Bassini realises he's in over his head. Puts club up for sale again. Sells club, perhaps at a small profit to him, perhaps not. New owners don't mind because (1) they actually have money and (2) they don't have to deal with Ken.

Bassini was only at Vicarage Road for 14 months. Might not even last that long this time. But if it gets Ken out, it might be worth it.

And that was my "glass half full" assessment!

In X months' time, we will have more debt than today and be in a lower league (though I accept we are in it already in all but name). We won't even be getting our tyres kicked, let alone taken for a test drive.

By the way, I think you used "going forwards" in a post earlier today. Do I not like that.