Red Hats and One-eyed Snakes - the ups and downs of new management.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Bruce Rioja » Fri Apr 19, 2019 6:26 pm

Something's just not stacking up here. Not only does Bassini not knowing how much is owed to who smack of a lack of any due diligence, but I've just been told by a very reliable source that he wasn't aware that upon buying the club he was also buying the hotel.
If that's in any way true then it can only lead me to believe that this whole thing's a front for something / someone else.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by malcd1 » Sat Apr 20, 2019 10:42 am

Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by malcd1 » Sat Apr 20, 2019 11:40 am

Ken Anderson has said in the past he has not discounted the possibility that he may continue to run the club even if a new owner buys out his shares. With Dave Richards out of the running, could KA continue to be chairman or chief exe at BWFC?
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by nicholaldo » Sat Apr 20, 2019 11:50 am

malcd1 wrote:
Sat Apr 20, 2019 10:42 am
Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.

Oh, smashing. And I mean that in both the good and sarcastic sense of the word. Sir Dave Richards' time in football has been and gone, in my opinion, and if he isn't joining us then I think, in itself, that is a good thing. Equally though, it points to Bassini's plans beginning to unravel at a very early stage, which obviously doesn't bode well.

But it might not be true, or it might just be the first stage of a negotiation between the two of them. As I'm determined to give Bassini the chance that anyone who comes in initially deserves, I'll not assume the worst for now.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by nicholaldo » Sat Apr 20, 2019 11:50 am

malcd1 wrote:
Sat Apr 20, 2019 11:40 am
Ken Anderson has said in the past he has not discounted the possibility that he may continue to run the club even if a new owner buys out his shares. With Dave Richards out of the running, could KA continue to be chairman or chief exe at BWFC?

I'd be amazed if he wanted anything to do with us now.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by TKIZ! » Sat Apr 20, 2019 12:34 pm

I'd rather not have Dave Richards as chairman. The man's as shady as Ken.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Abdoulaye's Twin » Sat Apr 20, 2019 12:59 pm

malcd1 wrote:
Sat Apr 20, 2019 11:40 am
Ken Anderson has said in the past he has not discounted the possibility that he may continue to run the club even if a new owner buys out his shares. With Dave Richards out of the running, could KA continue to be chairman or chief exe at BWFC?
Nah, Ken's gone all Dougie Freedman and isn't safe anymore (gone all drama queen)

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Dave Sutton's barnet » Sat Apr 20, 2019 3:45 pm

malcd1 wrote:
Sat Apr 20, 2019 10:42 am
Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.
Might open the door for John Williams, which is good.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by piesrus » Sat Apr 20, 2019 5:35 pm

Dave Sutton's barnet wrote:
Sat Apr 20, 2019 3:45 pm
malcd1 wrote:
Sat Apr 20, 2019 10:42 am
Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.
Might open the door for John Williams, which is good.
Really? He soon sussed out the Venkys at Blackburn and left the club. He strikes me as someone with integrity, far removed from the likes of KA, LB & SDR.
This supposed takeover is looking more like a crock of sh1t as time goes by.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Dave Sutton's barnet » Sat Apr 20, 2019 7:28 pm

piesrus wrote:
Sat Apr 20, 2019 5:35 pm
Dave Sutton's barnet wrote:
Sat Apr 20, 2019 3:45 pm
malcd1 wrote:
Sat Apr 20, 2019 10:42 am
Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.
Might open the door for John Williams, which is good.
Really? He soon sussed out the Venkys at Blackburn and left the club. He strikes me as someone with integrity, far removed from the likes of KA, LB & SDR.
This supposed takeover is looking more like a crock of sh1t as time goes by.
"Might". Williams was name-checked by Bassini as an option in his first interview. Might end up being as realistic as me saying I'd settle for a six-figure lottery win, but we'll see.

Still prefer Bassini to Anderson. But again, we'll see.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Lost Leopard Spot » Sun Apr 21, 2019 3:58 pm

Dave Sutton's barnet wrote:
Sat Apr 20, 2019 7:28 pm
piesrus wrote:
Sat Apr 20, 2019 5:35 pm
Dave Sutton's barnet wrote:
Sat Apr 20, 2019 3:45 pm
malcd1 wrote:
Sat Apr 20, 2019 10:42 am
Not sure if it is a good thing or not but this was in the Telegraph today:
Former Premier League chairman Sir Dave Richards has rejected the opportunity to return to the game as the new chairman of Bolton Wanderers.
Might open the door for John Williams, which is good.
Really? He soon sussed out the Venkys at Blackburn and left the club. He strikes me as someone with integrity, far removed from the likes of KA, LB & SDR.
This supposed takeover is looking more like a crock of sh1t as time goes by.
"Might". Williams was name-checked by Bassini as an option in his first interview. Might end up being as realistic as me saying I'd settle for a six-figure lottery win, but we'll see.

Still prefer Bassini to Anderson. But again, we'll see.
You have been solidly consistent throughout that you would prefer Bassini to Anderson. I just don't get why?
It's a bit like saying you prefer toothache to earache... What we are searching for is an analgesic, not some alternative form of pain...
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Dave Sutton's barnet » Sun Apr 21, 2019 4:32 pm

I've also been consistent that I'd prefer someone else than Bassini, but nobody else was forthcoming, probably because of Anderson.

You are judged by your actions, and not by your pretensions. No doubt Bassini will have pretensions. He's already made one frankly pointless promise to be in the Premier in three years; if we're that good, he won't need empty windbaggery. Anderson was a man of actions, and many of them were execrable. Chronic (and occasionally acute) non-payment of bills, high-profile public mudslinging, humiliation. It's a low bar. It might be the lowest our club has ever had.

I'll say again: Bassini strikes me as a dreamer, possibly inept. I expect many promises to be made and broken. But when it comes down to it, I don't think he'd put the club in danger merely to make a buck. Whereas I think Ken would, and did. Which makes him, until proven otherwise, worse than Bassini.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by bristol_Wanderer3 » Sun Apr 21, 2019 4:37 pm

I still don't see a Bassini takeover without some involvement from KA.

I see three possibilities.

1.) A "clean" takeover that involves paying off all creditors and covering what will be substantial ongoing losses, particularly in L1. Dependent on how quickly we get promoted back, if at all, we are talking anywhere from £50m-£75m over the next three years and that is before investing in the squad beyond current levels. In this scenario all trace of KA could theoretically be removed. How much money would Bassini need to have before he invests that kind of money in BWFC? Has he got it? How did he get it from a position of being sued for unpaid rent in 2017? If there is other people's money involved why on earth is this a good idea? In fact why on earth is this a good idea at all?

2.) A cheap takeover where the secured creditors stay as secured creditors (including KA, hence the involvement). Would need Michael James to agree which might be difficult. This could happen for zero, plus unsecured creditors, plus the mounting debts due to not paying the bills and wages. Still around £20m in takeover costs unless a deal can be done with the unsecured creditors, which is complicated by the w/o petition, plus ongoing losses.

3.) The Bassini takeover falls through, and not sure where that would leave us, except in grave peril.

Given the lack of anything concrete being reported, including any sign of any money, then 1.) looks very very unlikely and 2.) getting less likely by the day.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by BWFC_Insane » Sun Apr 21, 2019 7:13 pm

bristol_Wanderer3 wrote:
Sun Apr 21, 2019 4:37 pm
I still don't see a Bassini takeover without some involvement from KA.

I see three possibilities.

1.w) A "clean" takeover that involves paying off all creditors and covering what will be substantial ongoing losses, particularly in L1. Dependent on how quickly we get promoted back, if at all, we are talking anywhere from £50m-£75m over the next three years and that is before investing in the squad beyond current levels. In this scenario all trace of KA could theoretically be removed. How much money would Bassini need to have before he invests that kind of money in BWFC? Has he got it? How did he get it from a position of being sued for unpaid rent in 2017? If there is other people's money involved why on earth is this a good idea? In fact why on earth is this a good idea at all?

2.) A cheap takeover where the secured creditors stay as secured creditors (including KA, hence the involvement). Would need Michael James to agree which might be difficult. This could happen for zero, plus unsecured creditors, plus the mounting debts due to not paying the bills and wages. Still around £20m in takeover costs unless a deal can be done with the unsecured creditors, which is complicated by the w/o petition, plus ongoing losses.

3.) The Bassini takeover falls through, and not sure where that would leave us, except in grave peril.

Given the lack of anything concrete being reported, including any sign of any money, then 1.) looks very very unlikely and 2.) getting less likely by the day.
There is another possibility. In fact two.

One is that like DH someone is simply borrowing money to get hold of the assets without a proper long term plan in place.

The other is that a savvy property developer digs out the Reebok Masterplan from the vaults and invests in the redevelopment using the profits from that to finance the football club. Of course you could sell parts as is to raise immediate cash.

How does Bassini claim to have made his recent fortune?

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by TonyDomingos » Sun Apr 21, 2019 8:25 pm

Apols if this has been posted elsewhere:

https://www.theguardian.com/football/20 ... buy-bolton

Larry has told the Guardian he has £20m to invest in us.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Hoboh » Mon Apr 22, 2019 6:42 am

Dave Sutton's barnet wrote:
Wed Apr 17, 2019 4:57 pm
In Edward de Bono's group-discussion method "Six Thinking Hats", the red hat represents a gut reaction or emotional statement, honest and visceral if often unjustified.

Other meanings of red-hat include people who habitually shout down new ideas, unswervable supporters of Donald Trump, and Catholic cardinals. And, in some areas, a prostitute ("red hat and no knickers.") Remains to be seen which, if any, of these our new man most resembles.

I hope Bassini is better than we expect. I hope he's better than Anderson. The latter is a low bar.
Hee hee hee and there's me thinking red hat was rhyming slang for something else :D

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Re: Red Hats and One-eyed Snakes - the ups and downs of new ownership.

Post by Lost Leopard Spot » Mon Apr 22, 2019 2:42 pm

So when, exactly, are the EFL due to pronounce on Sir Baz the Rescuer's fitliness for ownershipness? Or has it, his fitliness for ownershipness, already snuck through???
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Re: Red Hats and One-eyed Snakes - the ups and downs of new ownership.

Post by Dave Sutton's barnet » Mon Apr 22, 2019 2:57 pm

Lost Leopard Spot wrote:
Mon Apr 22, 2019 2:42 pm
So when, exactly, are the EFL due to pronounce on Sir Baz the Rescuer's fitliness for ownershipness? Or has it, his fitliness for ownershipness, already snuck through???
No fitliness snuckage thus far.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new ownership.

Post by BWFC_Insane » Mon Apr 22, 2019 5:44 pm

Lost Leopard Spot wrote:
Mon Apr 22, 2019 2:42 pm
So when, exactly, are the EFL due to pronounce on Sir Baz the Rescuer's fitliness for ownershipness? Or has it, his fitliness for ownershipness, already snuck through???
He claims he submitted his form last week. Unsure if that means the full business plan or simply the owners and directors test form. Two separate issues owners and directors and suitability and availability of funds. Usually done in two stages too. I suspect it will take a while if a business plan required since he hasn’t even completed due diligence. So cannot possibly have a business plan till end of next season alongside proof of funds required for that period.

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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by piesrus » Mon Apr 22, 2019 10:06 pm

In his interview of Maunday Thursday he only admitted to filling in the form, not to actuslly sending it off to the EFL. Maybe the serioursness of it all is sinking in and he is as likely to huy the club as fly to the moon. Is the £20 million he has to invest before paying off debtors or after?

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