Ken Anderson - Old Owner (Definitely. For Ever ..... )

[LeverEnd]

Maybe BM had a choice between a refinancing of the loan or a protracted legal battle to get hold of club assets that they may or may not be entitled to claim. Easy decision really.

[BWFC_Insane]

At least the immediate uncertainty has ended. His statement leaves a number of questions unaired, such as:

1.) Who now has responsibility for the payment of the Blumarble loan? KA or the club?
2.) If the club on what terms? Given the club is not making a profit, does this mean the club has to find additional capital? How much, how quickly? Would players/assets need to be sold to meet the additional financial burden?

I'm going more off the article on the Bolton News website than KA's statement, so it may be giving the wrong impression but this is how I've read the situation:

1) The original BluMarble loan shouldn't technically exist any more should it? The liquidators surely at this point would just be looking to retrieve the total debt / as close to that figure as possible. I can't see why a liquidator would just be looking for someone to take over a pre-existing loan.

2) However, Bolton News' article does say that KA / BWFC have also come to an agreement with BluMarble, which to me suggests that he may have taken out / agreed a new loan with BluMarble in order to buy the shares from the liquidator.

If that is the case then I'm not sure that's any better than what Holdsworth did in the first place. Hell I'm not sure why BluMarble would want to deal with us again / why Ken would use the same company who just liquidated one of our shareholding companies!

Maybe all of the above is just rubbish and he's just agreed new terms to take over the original loan. But I thought we were past the stage of that being possible once the liquidators were involved. They're usually just interested in getting the full balance paid as far as I'm aware.

The liquidator had to sell the assets of the liquidated company. In this case the only assets ssbwfc had were shares in burnden leisure. Those shares weren't worth very much given that BL is a loss making company.

The liquidator had a short period to negotiate with the previously interested parties to try and strike a deal. He eventually did so with Inner Circle (Ken).

The loan will be repaid from whatever Ken paid for them, minus liquidator and court costs. One can assume that this comes nowhere near paying the loan back. However, the loan was secured agains club assets and further I believe at a certain point responsibility for it transferred from SSBWFC to the club.

So the terms of the loan really needed to be renegotiated to allow Ken the time to sort it. Otherwise we'd all be here again. Probably back in court with BM petitioning the court to wind up the club. As above I suspect Ken openly questioned the validity if security against club assets to try and ensure BM would renegotiate when the time came.

That is my understanding of it all.

[officer_dibble]

Stability and hopefully being nearer the end of the embargo.... we'll have some of that thanks.

My interest in the off field stuff is really limited to what it means for the on field. Hopefully we can get sorted to sign a few today to help us compete in our mini league.

[TANGODANCER]

So, effectively, a certain coloured sphere company are just loan sharks who charge massive interest rates and will, helped by th law, ruin the club if neccesary to get their pound of flesh. Is that about the size of it?

[Dave Sutton's barnet]

So, effectively, a certain coloured sphere company are just loan sharks who charge massive interest rates and will, helped by th law, ruin the club if neccesary to get their pound of flesh. Is that about the size of it?

They lent money, at agreed rates, with agreed collateral. Not sure what's sharkish about it, TD: a foolish Deano and his (?) money were quickly parted.

[BWFC_Insane]

So, effectively, a certain coloured sphere company are just loan sharks who charge massive interest rates and will, helped by th law, ruin the club if neccesary to get their pound of flesh. Is that about the size of it?

They lent money, at agreed rates, with agreed collateral. Not sure what's sharkish about it, TD: a foolish Deano and his (?) money were quickly parted.

Deano had a plan to quickly re-finance that loan. However, Ken assuming control rather scuppered said plan and led to the impasse and subsequent events witnessed....

[malcd1]

So, effectively, a certain coloured sphere company are just loan sharks who charge massive interest rates and will, helped by th law, ruin the club if neccesary to get their pound of flesh. Is that about the size of it?

They lent money, at agreed rates, with agreed collateral. Not sure what's sharkish about it, TD: a foolish Deano and his (?) money were quickly parted.

Deano had a plan to quickly re-finance that loan. However, Ken assuming control rather scuppered said plan and led to the impasse and subsequent events witnessed....

I think this is what happened. Dean H probably wanted to sell assets to pay off his Blue Marble loan but KA scuppered his plans. The same assets were then sold to keeps the club going until the end of the season.

I think Dean has been incredibly naive in the whole thing and a good job he has gone. Ken still worries me but at least he is business savvy and hard nosed enough to look after his assets.

[BWFC_Insane]

So, effectively, a certain coloured sphere company are just loan sharks who charge massive interest rates and will, helped by th law, ruin the club if neccesary to get their pound of flesh. Is that about the size of it?

They lent money, at agreed rates, with agreed collateral. Not sure what's sharkish about it, TD: a foolish Deano and his (?) money were quickly parted.

Deano had a plan to quickly re-finance that loan. However, Ken assuming control rather scuppered said plan and led to the impasse and subsequent events witnessed....

I think this is what happened. Dean H probably wanted to sell assets to pay off his Blue Marble loan but KA scuppered his plans. The same assets were then sold to keeps the club going until the end of the season.

I think Dean has been incredibly naive in the whole thing and a good job he has gone. Ken still worries me but at least he is business savvy and hard nosed enough to look after his assets.

Suspect something like that. In that Dean wanted Ken to put his contribution in to keep the club going whilst raising the cash from some asset sales to sort out the BM repayments, and longer term re-finance the loan.

Deano had to have a plan in place otherwise the EFL would have blocked the takeover.

[Dave Sutton's barnet]

Ken's latest seems to be implying Chris Taylor's still eligible. So that's good, we've got a fifth-choice winger.

It’s also important to clarify that we have 24 registered players and not 23 as has been erroneously reported elsewhere.

[nelson66]

interested to note that while DH had taken on a loan using club assets as collateral - everyone ended up querying the validity of the loan sharks charge against our clubs assets
now that KA has taken over the loan - there can be no dispute that the Wonga/BlueOnion loan is secured against the ground and hotel

God help BWFC at 27% interest !!

[Dave Sutton's barnet]

The bloke in the whistle's latest epistle:
https://www.bwfc.co.uk/news/2017/septem ... -chairman/

• In discussions with EFL re exiting embargo
• Points deduction? "my understanding is that this will not happen"
• No to Spearing
• His wife will step down as he hires more board members
• Two big rallying calls: Let's Be Like Peterborough And Barnsley, and Please Get Behind Chris Taylor

[bristol_Wanderer3]

Hmmm. All imho:

The model of Peterborough and Barnsley is essentially to buy promising young players from a lower division or even non-league on modest wages, develop them, and sell them on at a significant profit. Those two teams are probably THE best exponents of that model. Think Britt Assombalonga, Dwight Gayle, Connor Washington, Ryan Bennett, Craig Mikhail-Smith (Peterborough), and John Stones, Marcus Holgate, Alfie Mawson, James Bree, Mark Roberts (Barnsley). Both clubs have sold a number of players for £15-20m+ profit in the last few years. Yet both remain Championship/L1 yo yo clubs. The wheeler dealing of Barry Fry and whoever coaches Barnsley's defenders are crucial to that model at those particular clubs.

Ken is being hugely optimistic to even hope that that model would ever lead to the Premiership. It is close to impossible to compete with the riches of Championship clubs with rich owners, parachute payments, or both, with the Peterborough/Barnsley model, even for the best exponents of that model. Replacing a number of talented players every 6-12 months on low wages whilst just maintaining your league position, never mind enhancing it, is very hard. A lot of other clubs currently in L1/L2 also attempt that particular model. Also, Parky seems to like experienced dependable players judging by his history thus far, much like a BSA model, which is far removed from the Barnsley/Peterborough method.

Our best chance of climbing this league and challenging at the top end is to have the club on a sound and stable footing on and off the pitch, and then add sensible additional investment and spend it wisely. Also to offer significant wages if required to the right player if that player is crucial to us getting up the league, or if their value would increase by staying longer, rather than just losing all our talent as soon as an offer of £2-3million comes in. If the club ever gets to the point where the foundations become stable again, I hope Ken is true to his word and is willing to consider giving up the reins if he receives a good offer from a responsible investor with deeper pockets, if that rare breed was to come along. Either that or a club in panic mode offers us stupid money for the likes of Vela or Jake Turner that immediately allows us to sort ourselves out. Brentford (Andre Gray, Scott Hogan, Jota) seem very good at finding such clubs..

[Prufrock]

SO IT'S JUST ME WHO CARES ABOUT THE FATE OF THE REEBOK REBELS?!

[Hoboh]

SO IT'S JUST ME WHO CARES ABOUT THE FATE OF THE REEBOK REBELS?!

Most of us don't perv schoolies.

[Bruce Rioja]

SO IT'S JUST ME WHO CARES ABOUT THE FATE OF THE REEBOK REBELS?!

Are they still on the go?

[Peter Thompson]

I'm going to throw a question out there as I don't know the answer, but I'm interested in what others think.

Do you think that KA really wants the embargo lifted ?

As far as we are aware he doesn't personally have the cash / war chest that we need to give us a chance of staying up, so surely lifting the embargo will only put pressure on KA to provide funds....so does it suit KA to remain in the embargo as long as possible ?

[Dave Sutton's barnet]

I'm going to throw a question out there as I don't know the answer, but I'm interested in what others think.

Do you think that KA really wants the embargo lifted ?

As far as we are aware he doesn't personally have the cash / war chest that we need to give us a chance of staying up, so surely lifting the embargo will only put pressure on KA to provide funds....so does it suit KA to remain in the embargo as long as possible ?

A very interesting question. The embargo is certainly a convenient excuse to circle wagons, blame everyone else and play the hero - especially with promotion. Now it's going pretty comprehensively tits-up in this league, and Ken owns 95% of a losing team that's still in embargo...

[Bruce Rioja]

I'm going to throw a question out there as I don't know the answer, but I'm interested in what others think.

Do you think that KA really wants the embargo lifted ?

As far as we are aware he doesn't personally have the cash / war chest that we need to give us a chance of staying up, so surely lifting the embargo will only put pressure on KA to provide funds....so does it suit KA to remain in the embargo as long as possible ?

Very, very good question, Mate. Two answers: either he wants to make a profitable, success of the club, or he wants to turn a profit on something that stands him at precious little. My fear is that we're the next Portsmouth. My hope is we're the next Southampton.

[BWFC_Insane]

I'm going to throw a question out there as I don't know the answer, but I'm interested in what others think.

Do you think that KA really wants the embargo lifted ?

As far as we are aware he doesn't personally have the cash / war chest that we need to give us a chance of staying up, so surely lifting the embargo will only put pressure on KA to provide funds....so does it suit KA to remain in the embargo as long as possible ?

He's going to come under a lot of pressure if he doesn't lift it. I think lifting it is essential even if we have nothing to actually spend. Otherwise our youngsters can't even play.

[officer_dibble]

Good question. The answer is not clear yet.

I have no idea how long it should take now, but if we are still under embargo in a month say - and our youngsters are still unable to be registered - the natives will start getting restless.

I have no issue with Ken not wanting to atump up a load of cash. I have no problem with him wanting to turn it round to make a profit. If he feck* is over in the process though...