The Debt.

[TANGODANCER]

Despite all else, people, at least sensible ones, don't make claims of heart attacks lightly. Until more information come out I think we should just wish P.G a speedy recovery.

[Gudnib]

Despite all else, people, at least sensible ones, don't make claims of heart attacks lightly. Until more information come out I think we should just wish P.G a speedy recovery.

There's far too much malicious drivel being published on this site and others,Tango.
What seems very clear though is that ED's decision to invest in BWFC is the worst financial decision he is likely to have made in an otherwise unblemished career and that in all probability it was the result of allowing heart to rule head.

[BWFC_Insane]

http://www.thesun.co.uk/sol/homepage/sp ... rvive.html" onclick="window.open(this.href);return false;

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;

[Dave Sutton's barnet]

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;

In case you can't get on either of those sites: The Sun says bidders are being asked for £10m "in the next 48 hours" to pay bills, stave off administration and basically prove themselves. Says it's Birch's idea to sort proper backers from timewasters, which makes sense; would also soothe the immediate concerns about administration, which wouldn't be good for anyone (seller, who gets pennies in the pound, and buyer, who gets a third-tier club).

The BN is mostly quotes from Gordon Taylor, basically saying it's bad but these things are usually alright:

We have investigated all the possible contingencies, administration being one, and though we are hopeful of a positive conclusion, a lot of things need to fall into place. We are certainly not underestimating the seriousness of the situation.
We don’t want administration because the penalties are very difficult to overcome and I think that is achievable. It involves a lot of parties coming together. Everyone is working together including Trevor and the local authority and I think while acknowledging the seriousness of the situation, this is very retrievable.
I’ve been in this position a number of times in my 35 years with the PFA and, touch wood, we’ve managed to help and save the vast majority of cases that have reached this stage. That is not to say you take anything for granted. This is an extremely serious situation and it needs to be properly managed.
But the club is of course very close to my heart. It was one of the founder members of the Football League and has an incredible tradition and history that we must protect at all costs.
It [communication] really is the key for people at this stage. It can be very worrying, particularly at this time of year. It’s good that someone like Trevor Birch is here, who we’ve worked with at other clubs, and most recently Portsmouth. He knows the lie of the land and knows the value of everyone working together.

[StaffsTrotter]

Nixon promising a story tomorrow about the criteria that need to be met and what the issue with meeting them are.

He says it will make things clearer.

So do we now know what the criteria are ?

[Dave Sutton's barnet]

Nixon promising a story tomorrow about the criteria that need to be met and what the issue with meeting them are.

He says it will make things clearer.

So do we now know what the criteria are ?

Presumably "£10m up front".

So let's hope that works better than our other recent attempts to solve things up front #bdumtish

[BWFC_Insane]

Nixon promising a story tomorrow about the criteria that need to be met and what the issue with meeting them are.

He says it will make things clearer.

So do we now know what the criteria are ?

Yes. See his story from the sun above. Crtiteria is 10M quid before end of tomorrow.

[StaffsTrotter]

Nixon promising a story tomorrow about the criteria that need to be met and what the issue with meeting them are.

He says it will make things clearer.

So do we now know what the criteria are ?

Yes. See his story from the sun above. Crtiteria is 10M quid before end of tomorrow.

So its just the money, there are no others (or at least as known by our own batman and robin aka nixon and iles) e.g. rumours of must be UK bidder etc. I thought they were supposed to be a shock to the bidders - why would taking care of upfront/ immediate running costs be a shock ?

[BWFC_Insane]

So its just the money, there are no others (or at least as known by our own batman and robin aka nixon and iles) e.g. rumours of must be UK bidder etc. I thought they were supposed to be a shock to the bidders - why would taking care of upfront/ immediate running costs be a shock ?

I think the shock is the bidders didn't know the immediacy or scale of the shortfall in funding.

10M is needed to keep the club afloat.

Eddie isn't putting it in.

Nobody is buying the club (I mean completing a deal) by tomorrow, or next week (depending who has the accurate timescale) but presumably paying £10M to keep things going would get a buyer exclusivity.

But question remains, would any potential buyer stick £10M in, without guarantees at this stage? Essentially that is what is being asked.

[thebish]

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

Iles says administration early next week if nothing sorted.

.

oooo - who's right - Iles or Nixon??? who do we trust???

there's only one way to find out!!

Again they are both basically saying the same thing. Iles said earlier that he didn't think admin was likely. Now he's changed to saying early next week. Ok a few days different. But general agreement on the story now....

odd that one of them actually names the day, though... if the day isn't known - why name it as Friday - Friday or bust....? nowt to do with artificially stoking up a story to suggest imminent tension...

[BWFC_Insane]

odd that one of them actually names the day, though... if the day isn't known - why name it as Friday - Friday or bust....? nowt to do with artificially stoking up a story to suggest imminent tension...

Does it really matter? I'm sure that different sources give slightly different information. I'd be surprised if Friday hasn't been given out to try and hurry some people along.

But there is general agreement that without some sort of cash and agreement fairly quickly, be it Friday, or early next week that administration has been discussed by the Bolton hierarchy and is a definite possibility.

EDIT: And Friday is the day that Nixon has been told. But of course it may really be Monday and the club officials using Friday to try and push things on. But again, I'm not convinced it matters. There is general agreement on the severity and consequences.

[StaffsTrotter]

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

Iles says administration early next week if nothing sorted.

.

oooo - who's right - Iles or Nixon??? who do we trust???

there's only one way to find out!!

Again they are both basically saying the same thing. Iles said earlier that he didn't think admin was likely. Now he's changed to saying early next week. Ok a few days different. But general agreement on the story now....

odd that one of them actually names the day, though... if the day isn't known - why name it as Friday - Friday or bust....? nowt to do with artificially stoking up a story to suggest imminent tension...

assume there is a deadline in amongst the hardball between ED and the bidders - I mean how long can the bills not be paid. Think my point is that whilst it certainly tests the bidders, it seems very short term IF its the main criteria/ only criteria

[BWFC_Insane]

assume there is a deadline in amongst the hardball between ED and the bidders - I mean how long can the bills not be paid. Think my point is that whilst it certainly tests the bidders, it seems very short term IF its the main criteria/ only criteria

It is short term because we apparently have immediate bills that need paying. The 10M is just the start. And I suppose the logic is that any buyers without 10M now wouldn't be able to sustain the club anyway in the long run.

[BWFC_Insane]

Neil Lennon says things are looking more optimistic re a takeover with a potential announcement next week.

He says 3 or 4 interested parties and it is "first past the post".

[Enoch]

Is it only me and Insano that have social media, or can anyone else see all this shit?

[Hoboh]

Neil Lennon says things are looking more optimistic re a takeover with a potential announcement next week.

He says 3 or 4 interested parties and it is "first past the post".

Rubbish, Lennon clearly knows now't, your pal Nixon the knob has said we are going bust so it cannot be true!

[BWFC_Insane]

Neil Lennon says things are looking more optimistic re a takeover with a potential announcement next week.

He says 3 or 4 interested parties and it is "first past the post".

Rubbish, Lennon clearly knows now't, your pal Nixon the knob has said we are going bust so it cannot be true!

Are your reading and comprehension skills really that poor?

[thebish]

Is it only me and Insano that have social media, or can anyone else see all this shit?

we rely on you two modern things to keep us abreast of the twitterati...

[thebish]

oooo - who's right - Iles or Nixon??? who do we trust???

there's only one way to find out!!

Again they are both basically saying the same thing. Iles said earlier that he didn't think admin was likely. Now he's changed to saying early next week. Ok a few days different. But general agreement on the story now....

odd that one of them actually names the day, though... if the day isn't known - why name it as Friday - Friday or bust....? nowt to do with artificially stoking up a story to suggest imminent tension...

FWIW Bish I don't think Nixon is far off the mark this time - friend of mine who works in administration (of struggling business, not "admin") says that he's heard through the grapevine that we have until Friday to pay any outstanding PAYE and there's no cash to do it, so HMRC are preparing a winding up petition. This could be where the administration by Friday is coming from.

oh - don't get me wrong - it wouldn't surprise me - a couple of weeks ago I asked how sure we were that we could actually pay the players and was reassured by Bobo that Eddie wouldn't let it get to that point - and I was surprised when Worthy pointed out that the little bit that we owed to banks and businesses other than eddie was actually far bigger than I thought it was. I just didn't believe (and still don't) that Eddie would be the one pushing us into administration - which was the usual proposition being made - and the proposition that people (rightly in my view) dismissed as crazy-sounding...

a journo hyping up a deadline date in order to feed people into his twitter account and newspaper column, though - c'mon - that's his actual job! converting a "possibly maybe soon" into an "actually Friday"

[twilight]

I have to admit, errrrm, that I have been following Nixon & Isles
and BWFCI is correct in what they have both been saying. Also Iles confirmed that Holdsworth & Amir Khan and his representative were at the Macron yesterday (all smiles and patting on the back with each other apparently & confirmed by fans) whether this is to be believed I don't know but allegedly there was a lot going on at the Macron yesterday....that's it from me for now