The Debt.

[Dave Sutton's barnet]

The Five Soccerplayers of the Apocalypse.

Something something asoccerlypse.

Gawpsmen.

The five gawpsmen of the asoccerlypse.

That'll do, roll the presses

[bobo the clown]

The Five Soccerplayers of the Apocalypse.

Something something asoccerlypse.

... losers of the

[BWFC_Insane]

http://m.theboltonnews.co.uk/sport/1415 ... _together/" onclick="window.open(this.href);return false;

Get this guy involved. Definitely knows what he's talking about.

[TKIZ!]

http://www.theboltonnews.co.uk/sport/14 ... ef=mr&lp=2" onclick="window.open(this.href);return false;

I've included this for the comments at the bottom.. What are forummers thoughts?

[jonnycooper]

http://m.theboltonnews.co.uk/sport/1415 ... _together/

Get this guy involved. Definitely knows what he's talking about.

Nice to see Gudni still refers to us as (we)! Top player and a special man....

[Bruce Rioja]

http://m.theboltonnews.co.uk/sport/1415 ... _together/

Get this guy involved. Definitely knows what he's talking about.

Indeed. As I've said before, I'd feel a whole lot better about this consortium business were it being headed-up by the erudite Bergsson rather than by a Cockney wideboy.

[Lost Leopard Spot]

Have we been bought yet?


(Thought not).

[Lost Leopard Spot]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

[malcd1]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

[wigan white]

According to Iles, the players are going to be asked to defer their wages again in a meeting today. BN says theyll get paid a % from the club for the November wages and the PFA will cover the rest.

[Lost Leopard Spot]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

Sorry Malc, what I meant was I can't see Eddie selling to any consortium if they can't raise the £30mill which appears to be the case, because by selling it any lower he'll be gifting assets that will no longer be under his control. It would almost be begging asset strippers to circle like vultures. And, as he has demonstrated in the past ED does have a genuine interest in the club's future, and therefore I cannot see him selling to the aforementioned consortia (any of them whether English or Thai). I think administration would be more palatable because he could decide who will be the administrator and therefore know that the asset stripping that does take place will be for the purpose of a continuing club (a much reduced but nonetheless continuing club).

[Beefheart]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

The book value of the assets isn't the same as their realisable value, particularly for a club in our precarious position. A big chunk of that asset value will be the stadium.

The actual gross asset value of the club from the 2014 accounts is c£58m. Tangible Fixed Assets £47.3m Intangibles (most likely capitalised player values) £3.45m Stock £0.3m Trade Receivables £4m Cash £0.3m Other Debtors £3m. Where is the £100m figure from?

[malcd1]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

Sorry Malc, what I meant was I can't see Eddie selling to any consortium if they can't raise the £30mill which appears to be the case, because by selling it any lower he'll be gifting assets that will no longer be under his control. It would almost be begging asset strippers to circle like vultures. And, as he has demonstrated in the past ED does have a genuine interest in the club's future, and therefore I cannot see him selling to the aforementioned consortia (any of them whether English or Thai). I think administration would be more palatable because he could decide who will be the administrator and therefore know that the asset stripping that does take place will be for the purpose of a continuing club (a much reduced but nonetheless continuing club).

Got you. I'm still not sure why there is a hold up though. He obviously wants rid, dresperately, but I'm not sure it is because he is ensuring the club is sold to the right people or that they want ED to take even more of the debt. Either way, admin is looking more likely by the day.

[Lost Leopard Spot]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

The book value of the assets isn't the same as their realisable value, particularly for a club in our precarious position. A big chunk of that asset value will be the stadium.

The actual gross asset value of the club from the 2014 accounts is c£58m. Tangible Fixed Assets £47.3m Intangibles (most likely capitalised player values) £3.45m Stock £0.3m Trade Receivables £4m Cash £0.3m Other Debtors £3m. Where is the £100m figure from?

Me. It was a guestimate that I concocted from adding together the real estate and business values of hotel, car park, stadium, Lostock, Euxton (which I derived from various tinternet sources). I'm not saying it's a reliable figure, but I think it's as equally in the ballpark as the figures in the accounts (which I didn't know by the way ).

[Beefheart]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

The book value of the assets isn't the same as their realisable value, particularly for a club in our precarious position. A big chunk of that asset value will be the stadium.

The actual gross asset value of the club from the 2014 accounts is c£58m. Tangible Fixed Assets £47.3m Intangibles (most likely capitalised player values) £3.45m Stock £0.3m Trade Receivables £4m Cash £0.3m Other Debtors £3m. Where is the £100m figure from?

Me. It was a guestimate that I concocted from adding together the real estate and business values of hotel, car park, stadium, Lostock, Euxton (which I derived from various tinternet sources). I'm not saying it's a reliable figure, but I think it's as equally in the ballpark as the figures in the accounts (which I didn't know by the way ).

You might be right if the stadium hasn't been revalued, (and the lack of a revaluation reserve in the accounts tells us that it hasn't), so perhaps the market value of the stadium is higher than reflected in the accounts, but it's one of those things that's hard to value just because there would be so few potential buyers (and how often do stadiums change hands? There's not much data with which to draw a comparison). How many sports teams are there in the area, of an appropriate size, who would want to buy it? I guess a financial institution might buy it and lease it back to the club, but I'm guessing they aren't going to offer a great price.

Anyway, I agree with what you're saying about why would he sell to these chancers? They don't seem to be a viable option, but I think it'd be harder than it seems to asset strip the club even at a selling price of £30m.

[Lost Leopard Spot]

Here's a question:
Why would anybody with a genuine interest in our club's future sell a concern with over £100,000,000 of assets to a bunch of dodgy fxckers who can't even raise the pathetically minimal £30,000,000 that ensures the club keeps going?????????????

I think because he has got virtually no chance of getting any of that money back and if he doesn't get rid soon, he will have to cough up the £30m as well.

The book value of the assets isn't the same as their realisable value, particularly for a club in our precarious position. A big chunk of that asset value will be the stadium.

The actual gross asset value of the club from the 2014 accounts is c£58m. Tangible Fixed Assets £47.3m Intangibles (most likely capitalised player values) £3.45m Stock £0.3m Trade Receivables £4m Cash £0.3m Other Debtors £3m. Where is the £100m figure from?

Me. It was a guestimate that I concocted from adding together the real estate and business values of hotel, car park, stadium, Lostock, Euxton (which I derived from various tinternet sources). I'm not saying it's a reliable figure, but I think it's as equally in the ballpark as the figures in the accounts (which I didn't know by the way ).

You might be right if the stadium hasn't been revalued, (and the lack of a revaluation reserve in the accounts tells us that it hasn't), so perhaps the market value of the stadium is higher than reflected in the accounts, but it's one of those things that's hard to value just because there would be so few potential buyers (and how often do stadiums change hands? There's not much data with which to draw a comparison). How many sports teams are there in the area, of an appropriate size, who would want to buy it? I guess a financial institution might buy it and lease it back to the club, but I'm guessing they aren't going to offer a great price.

Anyway, I agree with what you're saying about why would he sell to these chancers? They don't seem to be a viable option, but I think it'd be harder than it seems to asset strip the club even at a selling price of £30m.

I think we are agreeing. At a price of between 20-30 million it makes it difficult to convert the business into cash. But if he sold lower, which is what I'm guessing some of the consortia are attempting to do by saying here is a cash price (say in the region of 10 million) plus a promise of future payments, then that almost invites instant asset stripping by selling, say, Euxton and using that to cover the future payments.

[Gudnib]

The figures I am looking at in the Burnden Leisure balance sheet at 30 June2014 are:
Stadium £32.5 million
Hotel £8.5 million
Freehold Land £0.8million
Plant,vehicles etc. £4.2million
Assets under construction £0.9million
Total fixed assets £46.9 million
Intangible assets £3.45 million (player contracts incl. agents fees)

All the above, with the exceptions of Freehold land and Assets under construction which are included at their respective cost, are book values not estimated disposal values.

Book values are the original costs less amounts written off annually as depreciation (or amortisation in the case of player contracts).

In the case of player contracts some very heavy write downs were made in the previous year to reflect the fact that the book values were substantially higher than the amounts recoverable from transfer fees received or receivable.

[Harry Genshaw]

Scurrilous rumour number 2;

Bolton Uni looked at buying us for £20m

Apparently, they quickly pulled out when the scale of the other debts/true cost would be. The quote I was given was a figure of approx £60m is owed against our assets. Various loans that we owe to different individuals that used other buildings (Euxton, Hotel?) as collateral

Disclaimer - could all be bollo**s but did come from a pretty good scource

[Bruce Rioja]

As a slight aside, in the same way that I never understood Sandwell Borough Council sponsoring WBA's shirts, what possible interest would a university have in acquiring a football club?

[Lord Kangana]

I've always thought they could get more involved in the sports science stuff - you know, make it a speciality of the Uni and make them world leaders at it - a sort of win/win for the club and town. But I haven't the foggiest as to why they'd be remotely interested in buying us.

Sadly, with the way this is unravelling, I fear there may be a kernel of truth to the hidden debt stuff.