Reporting of a Takeover by AN Other.

[Worthy4England]

Nixon said that the wages for Dobbie and Heskey combined aren't even half of what ALF would need. I think that is far more believeable than the club being a few thousand short. And if they were a few thousand short and haven't made it happen that is more down to Lennon and what he is prioritising. He is after a second right back from Italy. I'm sure he will be a few thousand, so if that really was the case we could have had Le Fondre if Lennon wanted him. My suspicion is we never at any point had a chance of matching wages and loan/transfer fee that Cardiff wanted.

So that'd be £11k per week - 7k per week Heskey, 4k per week Dobbie according to the "Bolton's crippling Wage Bill" article in the Sun...Alf - reputed at £16k so somewhat over half @ £11k and if we threw Madine in too, we'd have been home and hosed.

Ream will be going it seems. Nixon and Iles both saying it looks that way. Be interesting to see what Lennon does with the money. Everyone will say get a goal scorer I guess, but not sure it is that easy with still limited funds.

Look Iles and Nixon in a love in... Schweet

We better not end up paying a reserve keeper £4K per week to sit on the bench. If Nixon and Iles are believed 4/5K is our average wage we are giving new players now. Really hope we don't pay a ressie keeper anything like that. What is wrong with Fitzsimmons? We keep getting told we can't afford a striker which is fair enough. But not entirely true, because we probably could afford one if we didn't sign, Dobbie, Heskey and Pisano for example. I know we've had issues with full backs but we'll end up with loads of specialist full backs playing in other positions if we're not careful.

So our average wage now is £4k to £5k - ok let's bear that in mind

Iles and Nixon both said we have £10k per week wages for a loan striker. Lennon has said money is there for a wage. Though hasn't specified what amount.

Hold on I thought we were on £4/£5k per player, just a day or two earlier....

If you believe what Nixon says and Iles the problem is that to continue on our current budget assuming income stays unchanged will cost any new buyer £10M a year. So without significant improving the squad it is a £10M a year bill. To improve on that obviously will cost more. And that is if revenue stays the same which. Seems unlikely.

Great - early doors in "take-over land" and everyone knows they're going to have to put in £10m a year (as in over and above our current Revenue) - or get our costs down accordingly - No bidder should really be surprised - they've been told by Iles and Nixon...let's bear that in mind too for a bit.

If you look at what Nixon said earlier this year the problem with selling the club isn't the debt, it is the cost of getting us back to the top flight. Anyone who takes over ultimately would want to get us promoted for money/media attention/PR/branding reasons. And the cost of keeping us where we are is £10M a season. So someone pays Eddie, £30M. Then £10M to bridge the deficit. That is £40M straight away. How many seasons will it take to get up and how much per season will it cost an investor? £20M? £30M? times by 2 or 3. And you're looking at £100M before you're even potentially thinking about premiership windfalls.Were we midtable and breaking even we'd look far more attractive as a little bit of investment might propel us quickly upwards......

Thank fcuk our problem is only going to be the cost of getting back into the Prem. ED getting £30m and £10m to bridge the defecit - Could probably afford a trip to Barbados on that sort of money - no moving the goalposts now - it's all out in the open. As for £100m, we could get Big Sam back with that sort of cash.

This has got to the very very concerning stage. Gartside is 'very unwell' according to what the club is telling Iles.The takeover sounds like a load of hot air as even Marc Iles is beginning to doubt it. Nixon all along has said it is a no go. Nixon now reporting there is no money for anymore loans in the sun today.This feels like a club in total meltdown. And there isn't an obvious way out until someone buys in. And frankly at this stage why would they?

So we don't have a take-over - not one, in sight - I'm going to be a panic fanny before this is done if Nixon's been saying all along this is a no-go.

It is fine to hang on if ownership is imminently about to change. Frankly I believe Nixon over the Bolton News. And his take is that nobody in talks has the money to back up their intentions and nothing is close.

Always good to nail yer colour to the mast. 1-0 to Nixon - he da man! Iles - read it and weep.

I find it hard to believe players haven't been paid - given we've not heard a peep from them regarding that. However, the rest is pretty much what Nixon et al have said for months isn't it? 10M a year needed to cover costs, Eddie won't put it in. To bridge this year there was a loan from Warburtons plus sale of land. That is already out there....

Still £10m needed per year - good - no move there. Eddie won't put any more in but good ol Warbies stumped some up.

I go off what Iles and Nixon say more than a bloke who rocked up to the club a week ago says in a piece of orchestrated PR. Frankly Iles is in touch with interested parties who have told him they don't know what the club is on about in this statement. Secondly he has intimated that several seem to have been ignored. Now Nixon is saying the same thing. If you want my honest view, I'd trust Nixon over anything from Birch right now, Nixon has little to gain from making stuff up. Birch has basically just said we are desperate and that no potential buyers can meet 'all criteria'. Not a great bargaining position and a weird statement to make. Iles has said that the interested parties don't even know what these criteria the club has set out are. I believe him.

Iles makes a come-back - it's better than the footy - are we 1-1 now? Birch - I worry about that shady bastard though - I think I saw him on the pitch at the Macron uprooting goalposts last night - dunno what that was all about - maybe a training match...Fooked if I know what the criteria might be - not as if Iles has quoted any of it in his interview with Birch in November, now is it?...

More from Iles....

Gut feeling is that not much will change between now and weekend - but there isn't much wiggle room before administration becomes a very real possibility.
I'd love to think a takeover will happen that quickly but I'm told that even once an offer has been accepted for a bidder has exclusivity, there is still plenty of work to be done.

Nixon has been saying similar for a few weeks.

Yeah - back to loved up - AN + MI - T.L.F.E

Administration on Friday if nothing is sorted according to Nixon.. Hmm..

Iles says administration early next week if nothing sorted..

http://www.thesun.co.uk/sol/homepage/sp ... rvive.html
Latest from Nixon for anyone who cares. £10M in next 48 hours needed to stave off administration.....

And Bolton News take...
http://m.theboltonnews.co.uk/news/14120 ... n_t_found/" onclick="window.open(this.href);return false;

Now we're fooked - Nixon and Iles in agreement - both close to the Club - that close they know when Trevor Birch farts! - Admin mid December - by the latest - oh and don't forget that £10m needed in 2 days to avoid it....Everyone has that down the back of the couch surely - especially ED with his extra padded pasty eating couch...

further to which, Iles is now tweeting that he has a story in tomorrow's paper (well - I'd expect that - he's the sports writer!) he's kinda hinting by reply to someone else that Eddie is selling for £15mill
arse - BWFC-I has got me looking at twitter - weirdly and depressingly addictive!
but if eddie is selling for 15mill - then that boshes Nixon's tweets that there is no buyer...

Nixon is saying there are interested parties but all along he's said it means little till one puts some hard cash down. And that seems to be an issue. He's been saying for a while to summarise 'lots of talk little action'.

Now I'm a bit confused - That lying bastard Trevor Birch said it was £15m in interview with Bolton News in November. Now Iles is hinting that the asking price is errr £15m. Dec 1st lots of bidders being roundly ignored....but here 6 days later there are interested parties - they just have no money - fck, I'm confused.

Nixon information alert - for anyone with a dislike of his info, please look away now...
One serious party still in talks - in his view Holdsworth bid not serious.
The party still in talks are hitting "obstacles".
His view is that there is a lot of game playing going on here. I can only assume haggling on price.

So Nixon says clearly not Sports Shield then - I reckon this might come back later....full of twists and turns this little potboiler.

Timescales still elastic.

In this morning's Evening News Marc Iles is saying HMRC petition due "imminently" after which we have "just over a week’s breathing space to decide whether to enter into voluntary administration." Also says Nucleus are owed £5.5m, Brett Warburton £2.5m (you can wait, son) and there's another secured loan of £1.5m "provided by shareholders".

One of the things Nixon said yesterday is that the potential buyers are getting irritated that the figure to secure the next year (inclusive of running costs and servicing debts) keeps increasing. Seems the club have not been entirely transparent about the volume of short term loans they have secured.

I thought we were still at £10m opex - I mean that's what it's been for ages, right? Oh and don't forget the £15m upfront - that could cover those three little items. Well, look it'll all be sorted or admin in a week

Devey is proper mental and knows next to nothing about BWFC or football.
This is total and utter attention seeking shite.
More relevantly Nixon claims someone with real actual money is taking at least a passing interest. There may be hope still yet.

Whew - someone in with proper cash - hope it's the £100m to get us back in the Prem - and it's not Sports Shield who's bid ain't at all convincing, coz we've been told it's not them....

The Sun are reporting that the owner has changed his mind for the time being and will pay the players wages

" BOLTON owner Eddie Davies will fork out around £1million to pay his players at Christmas — and prevent them from leaving for nothing.

The Isle of Man-based supremo has been persuaded he needs to make up the lost salaries due to Neil Lennon’s men at the cash-strapped club.
Davies had pulled the plug financially but was then advised that failing to pay the squad could mean the best of them go for nothing in the window next month.

So basically it wasn't a case of Eddie couldn't but Eddie wouldn't

^^Nixon story by the way that one. If he is paying the wages will he pay the tax bill too?

Good old Al - ED stumping up £1m - that after the report three weeks ago telling us he was going to put nothing else in, ever....I know - stuff changes relative to time - not like goalposts ever move now is it...

Nixon's Twitter feed doesn't make pleasant reading today, probably best not to believe him to be honest.

WHAT? He's been right for months - go look at his other tweets - someone's in denial here...

If you believe Nixon, the Far East lot pulled out when they saw the costs as did another group the other day.

He says 18m needed up front just to keep things going. He cannot see why anyone would take it on because all the assets have 'strings attached' and the initial outlay is huge. Players can go for free at end of the month if not paid. Eddie agreed to pay players at a meeting but cheque not yet received. Suspect if he pays players it is thin end of the wedge with staff and tax bills to come. It is worth bearing in mind that he is a football journalist and not an expert in sale of clubs or football finance. He clearly has an in at Bolton but by his own admission hasn't seen a club in this state up close before. In other words his assessment of how bad things are may be slightly out of proportion. Birch will have a better idea I suspect but obviously isn't going to publically say.

The point Nixon keeps making is that he cannot see why anyone would take us on given the outstanding bills, loans and lack of assets. It is fine saying the stadium is a good asset but it isn't sellable if you are looking to run a football club. One thing Nixon and Iles both seem to agree on is that there is no immediate end in sight.

Help - the upfront has gone up £3m - now it's £18m....we're stuffed, but on the plus side, Birch seems to know a few things now - do we trust him yet? - glad the boy's learning....

Nixon saying goalposts may have moved today and there is some 'intrigue'. He's trying to get to the bottom of it.

But says Davies is now desperate to deal.

Is this a different goalpost move than the £15m to £18m upfront payment? I wonder what the upfront will end up as - I'm wracked with suspense....can't wait to get to the end - I reckon some fcker will move this even higher....

So in essence we are 34 days and counting from liquidation and BWFC not existing.
I think something will intervene. Reading between the lines from what Nixon is saying it SOUNDS TO ME like Eddie and one of the interested parties are working on a deal where they share immediate costs. That would tie in with his "trying to reduce costs" line.

Oh ok - so ED and an interested party - clearly not SS coz Nixon told us - are trying to come to a shared type deal - I reckon that might move the deal-shape some, but only on one side - can't see the interested party's goalposts should move at all - after all £18m upfront and £10m a year ongoing - they're putting enough in.

Iles and Nixon in agreement that if players aren't paid it is disastrous.

Investigative journalism reaches new heights...

http://www.thesun.co.uk/sol/homepage/sp ... -ruin.html

Latest from the Sun. I assume Nixon though it doesn't say.

Highlights (or lowlights):
£2.2M needed within 2 weeks to pay HMRC
£15M to get through till end of season
Holdsworth consortium backed off (claims article)
Debts putting off potential owners
One new consortium in talks
Kevin Davies trying to raise money from investors

We could be being a bit unfair here as this might not have been Nixon - but great we're clear £2.2m in 2 weeks and £15m to get through to the end of the season (This is good - that's less than £18m upfront and £4m for the rest of the season - that would've been £22m in total - this is starting to look like a proper bargain...I'm a bit confused why we weren't in admin on Dec 4th, and I seem to have lost sight of the £10m we needed in 48 hours on Dec 3rd? - the SupaSoaraway told us - in black n white n'all...

Nixon says we are exploring ways of raising some cash via selling property. I assume that is either because Clough sale isn't going through or because they aren't as set on admin as quickly as Iles suggests.

Good spot - proper Newshound territory - hopefully it'll be £20m with some mate of Sports Shield group? That would sort out the £18m upfront and £4m for the rest of the season pretty much...

Nixon says we will ask for more time to pay as we have little chance of raising the money by Monday. Earlier in December I'm sure Iles said he had asked people within the club (and Birch) about a possible delay or adjournment and they felt the court was unlikely to grant one as things stood. So will be interesting to see whether that was true or if things have changed in our position since then.

It has to be slightly worrying that we're off to court saying we haven't got the readies. However, I have a sneaking feeling we are getting closer to investment and that could be a reasonable reason to ask for delay......or am I clutching at straws?

No - no straws to be clutched at here - At least if Nixon has been a little uncertain on a couple of things apart from this adjournment, Iles has it bang to rights with his folks (Birch allegedly) in the club - no adjournment, so we're going to be fooked. Wonder if we can raise any money any way - must be some small change from a Car Park sale...Mind we don't trust Birch as much as Iles and Nixon, so he could be fibbing about the adjournment....

Who are PBP LTD?

http://www.burndenaces.co.uk/2016/01/30 ... p-ltd.html" onclick="window.open(this.href);return false;

Edit: something tells me they haven't paid the reported 20M for the land.

Also given Emerson group, (Middlebrook) were supposedly backing the Sports Shield bid is this why or because that deal is on the rocks?

What? Who? Well we don't mind them selling to PBP for £20m we need the cash...we're not fussed about Emerson and it's not Sports Shield - Al's told us

Nixon is fairly adamant that the car park went for £20M. Though he is critical that the club won't say how much, and where it is going. Which to an extent in our situation I get the criticism. But equally they've never been forthcoming or transparent so I can't imagine they'd start now.

What's that charge for £5.5m on Companies House about? Some fcker flogged the pasty stand? - I demand to know where the other £20m has gone - someone's trousered that. That Max Clayton has been walking funny all season - I reckon it's him...

Nixon...
Bolton. Tamraz seems to be close to getting the nod to buy. Strange. Meanwhile Wigan agreed deal for training ground.

Yay - Saved - absolutely not that set of shysters SS with no money - a genuine self made, CIA avoiding billionaire. I'm looking up Messi's buy-out clause. I heart Alan Nixon.

Nixon has some interesting tweets this morning if anyone is interested.

Names Ken Anderson as an agent involved in the Sports Shield bid. Also says Eddie wants an 'achievement bonus' written into any deal. Basically Eddie expects a cut of any future profit. Achievement is defined as being in the championship or higher at any point over the next 5 years.

Why we talking about Sports Shield and Ken Anderson??? - it's Tamraz' agent surely? - I spoke with Lionel over the weekend - he's coming to look round the training facilities at Euxton next week...I think he'll like 'em.

hmmmm... but IF - as you have often said - SS had all their paperwork and had their money down on the table and ticked every box and proved everything they needed to prove AAAAAAGES ago, then why would it take them a long time to prove it to the football league?

Because at the last minute Eddie changes their business plan and therefore their future financial projections by insisting he gets more money going forward. Therefore their business plans and projections, already changed 7 times over a couple of months, have to change again. And of course, it may be that the millions Eddie now receives as debt repayment and success payments and a rumoured clause that gives percentage of profit from any sales have changed their plan significantly.

FWIW Nixon suggests that is the case and that they now may struggle to afford what is required full stop. I don't believe that, but can imagine that it has had an impact.

But they're still paying the £18m up front, right? They haven't changed those terms at all and they've got £5m or so for the rest of the season - I know it's not the £100m we were expecting of Tamraz but it still sounds good - I can tell they're going to stick to their guns on this and not move away from it at all - Bolton? I reckon we'll move the fcking goalposts...I'm stunned at ED on this - £18m upfront, £20m from the car park sale (if he can catch Clayton) and now £millions in debt repayments, %ages of profits. Neverending....

My claims are unsubstantiated. They are though based on logic. As you, yourself, admit, ED made the deal at the last minute. That's because he had a hand full of chancers and gambled against certain disaster otherwise.

My claims are reported by both Iles and Nixon. Iles claims to have spoken to sports shield several times about it. So I assume that he is reporting what they tell him.
The sports shield Twitter is also favouriting Iles' stories. Which would seem odd if he was talking absolute bollocks.
Now, you may claim those sources are rubbish. However, there is under any circumstances more substance to them than 'your logic'.

Hold on Spotty's fcked here we have claims substantiated by Iles and Nixon - £18m upfront, £20m the car park, Tamraz writing cheques as we speak - right? That's the only way they could be in the same place, surely?

Way Nixon and Iles are talking I'm beginning to wonder if this thing will get past the football league. Nixon thinks the amount needed for next season went up after the court appearance and the final deal with ED and that is where the issue lies. Iles reckons administrators have already been identified.

What???? More than the £10m that they've had to prove they've got?

Just seen Nixon say that ED needs to lower his demands or pay off some of the debt himself if the deal is to go through though.
Clear to me that ED has basically made it unaffordable which is why other parties are waiting till admin as Nixon and Iles report.

I just wish we'd hurry up with this Admin we went into in early December, so we can put all this behind us...

[thebish]

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