The breaking News thread...

[boltonboris]

I know very little about this sort of thing, but he won;t be classed as a priority creditor, so if the club goes into Admin, he's likely to get feck all... Not sure what his motivation is for fvckin about to be honest, but I can't see him allowing administration unless it's voluntary.. HMRC will want to dictate the terms surely

[BWFC_Insane]

So FL will only approve on the basis that sports shield submit monthly reports to them. We will be in special measures and can only sign players with FL approval.

Sounds great!

[Dave Sutton's barnet]

To answer Aanvalluh's question: "Clubs entering administration after the third Thursday in March may have their 12-point deduction deferred until the following season" (source). The third Thursday this March is the 17th, four days before our next planned court date.

But if the club goes into administration - if that's even an option pre-liquidation - then we would lose far more than £2m worth. Clough would go for ten bob, the others a tanner apiece. We'd quite likely lose the stadium, which is sellable to anyone who'd like to make money on renting it back to us. (Or Wigan's reserves.)

This isn't about grandstanding or saving a £2m tax bill here or there. This is about proving (to the FL) that the new owners can afford it; then it's about paying the transfer fee; then it's paying debts, particularly to the taxman hopping irately from foot to foot.

[Aanvalluh]

To answer Aanvalluh's question: "Clubs entering administration after the third Thursday in March may have their 12-point deduction deferred until the following season" (source). The third Thursday this March is the 17th, four days before our next planned court date.

But if the club goes into administration - if that's even an option pre-liquidation - then we would lose far more than £2m worth. Clough would go for ten bob, the others a tanner apiece. We'd quite likely lose the stadium, which is sellable to anyone who'd like to make money on renting it back to us. (Or Wigan's reserves.)

This isn't about grandstanding or saving a £2m tax bill here or there. This is about proving (to the FL) that the new owners can afford it; then it's about paying the transfer fee; then it's paying debts, particularly to the taxman hopping irately from foot to foot.

It really does look like they can't afford it.
Next season is very likely to be in the third tier, and unless Bolton get off to a flyer, what are the gates gonna be? In the previous third/fourth years, a ground in the centre of town which was easy to get to, got gates of around 5000 (often lower) until they climbed the league - so what chance of anywhere near 10,000 on a miserable Tuesday evening in November when the ground's out in the sticks? Add to that the cost of the bus and parking, there won't be many wanting to pay £25 entrance on top?
Good news is there are a lot of local teams bringing fans to the ground which is a bit like saying you've crashed the car but the dashcam's OK.

[BWFC_Insane]

It looks like the FL don't think SS can afford it without the investor who dropped out.
Having said that at this stage we just have to hope it goes through now.

Don't think we will get a chance at admin.

[Worthy4England]

I know very little about this sort of thing, but he won;t be classed as a priority creditor, so if the club goes into Admin, he's likely to get feck all... Not sure what his motivation is for fvckin about to be honest, but I can't see him allowing administration unless it's voluntary.. HMRC will want to dictate the terms surely

Not sure that's correct - Moonshift has a number of loans secured against assets - which makes them number 2 on the list after paying any insolvency practitioners. Burnden Leisure happened to have removed the Wonga (Nucleus Finance) charge but added in Prescott Business Parks and any bank loans (checked they still have a charge to Barclays), all other charges are against Moonshift as Secured Creditors. HMRC ceased to be Secured Creditors in 2003 as I read it...

The "entity" Burnden Leisure Limited is run by it's Directors (still showing on Company's House as), Anthony Massey (Secretary, Director), PG (Director), Richard Gee (Director), Brett Warburton (Director)....Moonshift Investments Limited is a Secured Creditor owed money by the entity Burnden Leisure Limited, secured against assets.

Bolton Wanderers Football and Athletic Company is similar to above, but with more Charges to Moonshift and one still showing as outstanding to Brett Warburton...

[Dave Sutton's barnet]

To answer Aanvalluh's question: "Clubs entering administration after the third Thursday in March may have their 12-point deduction deferred until the following season" (source). The third Thursday this March is the 17th, four days before our next planned court date.

But if the club goes into administration - if that's even an option pre-liquidation - then we would lose far more than £2m worth. Clough would go for ten bob, the others a tanner apiece. We'd quite likely lose the stadium, which is sellable to anyone who'd like to make money on renting it back to us. (Or Wigan's reserves.)

This isn't about grandstanding or saving a £2m tax bill here or there. This is about proving (to the FL) that the new owners can afford it; then it's about paying the transfer fee; then it's paying debts, particularly to the taxman hopping irately from foot to foot.

It really does look like they can't afford it.
Next season is very likely to be in the third tier, and unless Bolton get off to a flyer, what are the gates gonna be? In the previous third/fourth years, a ground in the centre of town which was easy to get to, got gates of around 5000 (often lower) until they climbed the league - so what chance of anywhere near 10,000 on a miserable Tuesday evening in November when the ground's out in the sticks? Add to that the cost of the bus and parking, there won't be many wanting to pay £25 entrance on top?
Good news is there are a lot of local teams bringing fans to the ground which is a bit like saying you've crashed the car but the dashcam's OK.

All fair enough. The "base" crowd will probably halve for tier three.

[BWFC_Insane]

Lion of vienna said it was stated in court that if the club went into admin Eddie wouldn't get his £15M. So I guess that is his motivation for trying this deal.

[CrazyHorse]

Davies has filed for admin. Just in case it seems. Judge was told admin would cost 350 jobs.

Given Eddie Davies has told the court today via the legal team that he wants to avoid admin at all costs I suspect that is unlikely.

Laughable.

[BWFC_Insane]

Davies has filed for admin. Just in case it seems. Judge was told admin would cost 350 jobs.

Given Eddie Davies has told the court today via the legal team that he wants to avoid admin at all costs I suspect that is unlikely.

Laughable.

Why? He had prepared it. But wanted to avoid it. If an adjournment wasn't given he would have pushed admin button rather than liquidation.

[Worthy4England]

Lion of vienna said it was stated in court that if the club went into admin Eddie wouldn't get his £15M. So I guess that is his motivation for trying this deal.

He might if an asset sale raised it...

[thebish]

You know how a couple of weeks ago I suggested Deano was getting a bit ahead of himself being so public before the deal was finalised? And I got shot down by thebish etc....

Well yeah......

whatever happens - and I mean WHATEVER - we have always known this would end with some kind of BWFC-Insane "I was right and I told you so" scenario

[BWFC_Insane]

You know how a couple of weeks ago I suggested Deano was getting a bit ahead of himself being so public before the deal was finalised? And I got shot down by thebish etc....

Well yeah......

whatever happens - and I mean WHATEVER - we have always known this would end with some kind of BWFC-Insane "I was right and I told you so" scenario

Well you enjoy pointing out continually if someone is wrong. So yeah....

[thebish]

You know how a couple of weeks ago I suggested Deano was getting a bit ahead of himself being so public before the deal was finalised? And I got shot down by thebish etc....

Well yeah......

whatever happens - and I mean WHATEVER - we have always known this would end with some kind of BWFC-Insane "I was right and I told you so" scenario

Well you enjoy pointing out continually if someone is wrong. So yeah....

as far as I remember it - you were! (and still are!) you were "SHOT DOWN" as you so insanely put it because you spent months railing at the club for saying nowt about what was happening - then railed at Deano for trying to tell us what was happening!! I don't see how deano saying stuff back then - or "being ahead of himself" has done any damage at all...

so - I think I'd stand by what I said at the time! NER!!!

[BWFC_Insane]

http://www.sportsmole.co.uk/football/bo ... gn=twitter" onclick="window.open(this.href);return false;

Those famous pesky I's and T's.

[Lost Leopard Spot]

You know how a couple of weeks ago I suggested Deano was getting a bit ahead of himself being so public before the deal was finalised? And I got shot down by thebish etc....

Well yeah......

But, but, but... just last week you were stating as fact the delay was down to Eddie Davies, when it turns out when light is shed in court, it had nothing to do with Eddie Davies and everything to do with cold feet in Deano's camp.

So yeah, but no but yeah......

[ExiledViking]

This is all a bit of mess, isn't it?
The way I see it is, unless there is a 100% guarantee that the takeover will be completed by Friday the 18th.
The takeover or administration will have to happen before the 17th, otherwise you run the risk of copping a 12 point deduction for next season, and given your current dicey league position, I'd say take the hit now & start afresh next season...
Of course, SportsShield might just find the shortfall and save you, but these next 9 days are certainly going to be very interesting to say the least...

[Lost Leopard Spot]

This is all a bit of mess, isn't it?
The way I see it is, unless there is a 100% guarantee that the takeover will be completed by Friday the 18th.
The takeover or administration will have to happen before the 17th, otherwise you run the risk of copping a 12 point deduction for next season, and given your current dicey league position, I'd say take the hit now & start afresh next season...
Of course, SportsShield might just find the shortfall and save you, but these next 9 days are certainly going to be very interesting to say the least...

It's fine. The Supporters Trust are champing at the bit. They wanted preferred bidder status don't you know. They can pull a few million out of their knicker drawer tomorrow. Deano is bound to welcome them aboard coz Portsmouth decrees it. It's a fxcking law! No sweat, nothing to see here, go back to Wigan and clear the roads...

[officer_dibble]

Good news we have still not been forced into admin / liquidation. We're clearly taking the piss with hmrc and the judge...pay the fckin bill!

However can ser this dragging on past the points defuction deadline and us still going into admin with a defuction nect season!

Bolton Wanderers. We cant even do administration properly!

[Worthy4England]

You know how a couple of weeks ago I suggested Deano was getting a bit ahead of himself being so public before the deal was finalised? And I got shot down by thebish etc....

Well yeah......

Sports shield started talking with the club in September. They satisfied all demands on a number of occasions. Only for the demands to change each time. They were ready to sign contracts mid January when once again the demands changed.

Had the deal gone through earlier there might have been a chance or even half a chance to save this season.

Talking about possible groups buying earlier or speculative but we ended up selling to sports shield anyway.

Gosh. I'm shocked. There you were telling us SS met all demands and we should have sold to them sooner....Cunning plan....let's back black errrrr and maybe white the next day...then if it turns up black, white or grey, we got all the bases covered...