The Debt.

Where fellow sufferers gather to share the pain, longing and unrequited transfer requests that make being a Wanderer what it is...

Moderator: Zulus Thousand of em

Post Reply
User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Fri Jan 08, 2016 2:06 pm

Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.

My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.

No evidence for any of that mind!
OK for the last time, I'm not going to keep repeating this ad nauseum: It was reported that the new buyer needed to put future running costs down up front. Not guarantees, but cash. That's what I'm arguing about. Of course ED wants guarantees, with that I have no problem... but cash! Up front, for future running costs, no way. If he's asking fir that he's mad, but I don't think he is.
That's not a leopard!
頑張ってください

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Fri Jan 08, 2016 2:12 pm

Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.

My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.

No evidence for any of that mind!
Here's a bet.
Ten thousand internet pounds on this:
Sunday 17th January turns up with no buyer.
You win when Eddie pays the money to HMRC prior to the winding up order.
I win when Eddie goes into voluntary administration.
We both don't win if a new buyer is found.
We both lose if the court hearing goes ahead with no money having been paid to HMRC.
That's not a leopard!
頑張ってください

wigan white
Reliable
Reliable
Posts: 987
Joined: Mon Oct 17, 2005 9:51 am
Location: Mordor

Re: The Debt.

Post by wigan white » Fri Jan 08, 2016 2:13 pm

Lost Leopard Spot wrote:
Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.

My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.

No evidence for any of that mind!
OK for the last time, I'm not going to keep repeating this ad nauseum: It was reported that the new buyer needed to put future running costs down up front. Not guarantees, but cash. That's what I'm arguing about. Of course ED wants guarantees, with that I have no problem... but cash! Up front, for future running costs, no way. If he's asking fir that he's mad, but I don't think he is.
Image
Image

Enoch
Icon
Icon
Posts: 4178
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: The Debt.

Post by Enoch » Fri Jan 08, 2016 2:37 pm

Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Fri Jan 08, 2016 2:56 pm

Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
That's not a leopard!
頑張ってください

StaffsTrotter
Reliable
Reliable
Posts: 839
Joined: Tue Jul 02, 2013 5:50 pm

Re: The Debt.

Post by StaffsTrotter » Fri Jan 08, 2016 2:58 pm

Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
was kinda my point up above, when I said none of us know what Eddies T&C's are for the sale

Enoch
Icon
Icon
Posts: 4178
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: The Debt.

Post by Enoch » Fri Jan 08, 2016 2:58 pm

Lost Leopard Spot wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
Not necessary thanks, just as long as it wasn't real news.

Enoch
Icon
Icon
Posts: 4178
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: The Debt.

Post by Enoch » Fri Jan 08, 2016 3:00 pm

StaffsTrotter wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
was kinda my point up above, when I said none of us know what Eddies T&C's are for the sale
Aye, panic fannies.

It'll be reet.

:|

Worthy4England
Immortal
Immortal
Posts: 23269
Joined: Wed May 16, 2007 6:45 pm

Re: The Debt.

Post by Worthy4England » Fri Jan 08, 2016 3:01 pm

Lost Leopard Spot wrote:
BWFC_Insane wrote:
Lost Leopard Spot wrote:...and anyway, put what fxcking money down. Wasn't it firmly reported that Eddie was prepared to sell for a pound. I can put a pound down. Anybody can put a pound down. It's obviously not all resting on somebody putting the fxcking money down is it?
Money up front to keep the club afloat. That is what is being asked.
I've just argued this point. When selling a business I can see the buyer having to pay deferred wages, immediate costs, and tax due, etc. What nobody in the entire history of business transactions have done is put the money down up front for future running costs! That'll be up to the new buyer to arrange in his own sweet time and has absolutely nothing to do with the seller. The seller might demand guarantees about future financial transactions but they don't ask for the money up front. Imagine Buyer x puts down £15 mill to cover the rest of the year... does seller Y then dole out the money back to buyer x? Of course he doesn't, because he won't be asking for running costs up front, in cash!!!
I'm a little mystified at the issue here particularly - surely the money would go into an escrow arrangement with conditions against it relating to the assets the purchaser would receive at the "knock-down" price. Probably trying to prevent chancers putting up a month's worth then flogging all the assets leaving us playing on Tonge Moor. If he's giving the assets at net book or lower than net book plus wiping all the debt up to whatever limit he's stated to try and secure some sort of future, then why would he want someone walking in to use the assets as saleable elements to run the Club? He could flog them himself, even if that was at a reduced % to get some cash into his pocket rather than theirs... :conf:

StaffsTrotter
Reliable
Reliable
Posts: 839
Joined: Tue Jul 02, 2013 5:50 pm

Re: The Debt.

Post by StaffsTrotter » Fri Jan 08, 2016 3:02 pm

Enoch wrote:
Lost Leopard Spot wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
Not necessary thanks, just as long as it wasn't fact real news.

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Fri Jan 08, 2016 3:08 pm

StaffsTrotter wrote:
Enoch wrote:
Lost Leopard Spot wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
Not necessary thanks, just as long as it wasn't fact real news.
Well precisely. It wasn't me that reported it. I've been saying it's bollox.
Anybody bought us yet?
Didn't think so.
That's not a leopard!
頑張ってください

LeverEnd
Legend
Legend
Posts: 8162
Joined: Fri Dec 21, 2012 11:18 pm
Location: Dirty Leeds

Re: The Debt.

Post by LeverEnd » Sat Jan 09, 2016 11:29 am

http://lionofviennasuite.sbnation.com/2 ... ers-owners

Disturbing if true. If eddie's been as fussy as suggested he won't let them anywhere near.
There's some bollocks articles on that site but they were right about Holdsworth's involvement.
...

ExiledViking
Hopeful
Hopeful
Posts: 22
Joined: Fri Dec 11, 2015 11:54 am
Location: Wigan (via Widnes)

Re: The Debt.

Post by ExiledViking » Sat Jan 09, 2016 11:49 am

LeverEnd wrote:http://lionofviennasuite.sbnation.com/2 ... ers-owners

Disturbing if true. If eddie's been as fussy as suggested he won't let them anywhere near.
There's some bollocks articles on that site but they were right about Holdsworth's involvement.
Sounds very much like a certain Stephen Vaughan who destroyed Chester City and nearly destroyed my home town Rugby team, Widnes Vikings.
Avoid at all costs...

BWFC_Insane
Immortal
Immortal
Posts: 25862
Joined: Mon Jul 09, 2007 4:07 pm

Re: The Debt.

Post by BWFC_Insane » Sat Jan 09, 2016 12:27 pm

Enoch wrote:
Lost Leopard Spot wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
Not necessary thanks, just as long as it wasn't real news.
It is reported by the Bolton News as well. I'm not really sure what you expect. It has also been said by Neil Lennon in an interview he gave.

Enoch
Icon
Icon
Posts: 4178
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: The Debt.

Post by Enoch » Sat Jan 09, 2016 2:59 pm

BWFC_Insane wrote:
Enoch wrote:
Lost Leopard Spot wrote:
Enoch wrote:
Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...
Shall I go and find it again?
Not necessary thanks, just as long as it wasn't real news.
It is reported by the Bolton News as well. I'm not really sure what you expect. It has also been said by Neil Lennon in an interview he gave.
It was reported on here, doesn't impress me.

Where's the bit where Eddie Davies said it, or that Birch fella, or the shot of Gartside dragging himself off his sickbed to say 'Over my dead body!' or somesuch?

BWFC_Insane
Immortal
Immortal
Posts: 25862
Joined: Mon Jul 09, 2007 4:07 pm

Re: The Debt.

Post by BWFC_Insane » Sat Jan 09, 2016 3:04 pm

^^

Neil Lennon said it in an official press conference.

I mean it is clearly fact that someone needs to put money down up front. The Bolton News have written repeatedly that is the case and they do have some decent information from the club.

Isn't even up for a debate this one.

Enoch
Icon
Icon
Posts: 4178
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: The Debt.

Post by Enoch » Sat Jan 09, 2016 3:34 pm

BWFC_Insane wrote:Neil Lennon said it in an official press conference.
Wow! Did he.

I remember when he said we were heading to the playoffs.
BWFC_Insane wrote:I mean it is clearly fact that someone needs to put money down up front.
No shit, Sherlock.
BWFC_Insane wrote:Isn't even up for a debate this one.
Well why didn't you just say.

Thing is, when the folk that are actually sat in a room trying to bash out a deal, I very much doubt they invite, The Bolton News, Alan Nixon, BWFC_AYE, nor indeed Uncle Tom Cobley, to sit in. So I still feel it is up for debate. Though I confess for the most part I find the debate a tad fruitless.

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: The Debt.

Post by Lost Leopard Spot » Sat Jan 09, 2016 3:39 pm

Enoch wrote:
BWFC_Insane wrote:Neil Lennon said it in an official press conference.
Wow! Did he.

I remember when he said we were heading to the playoffs.
BWFC_Insane wrote:I mean it is clearly fact that someone needs to put money down up front.
No shit, Sherlock.
BWFC_Insane wrote:Isn't even up for a debate this one.
Well why didn't you just say.

Thing is, when the folk that are actually sat in a room trying to bash out a deal, I very much doubt they invite, The Bolton News, Alan Nixon, BWFC_AYE, nor indeed Uncle Tom Cobley, to sit in. So I still feel it is up for debate. Though I confess for the most part I find the debate a tad fruitless.
Have a grape... *halo*
That's not a leopard!
頑張ってください

Izual_Rebirth
Hopeful
Hopeful
Posts: 66
Joined: Sun Jan 19, 2014 9:03 pm

Re: The Debt.

Post by Izual_Rebirth » Sat Jan 09, 2016 5:40 pm

Personally if we're going to go into admin... and we will... might as well do it this season as we're looking like we're going down so might as well take the point penalty this season when we're already going down and no next year while in L1 and which will put us into L2 probably.

Izual_Rebirth
Hopeful
Hopeful
Posts: 66
Joined: Sun Jan 19, 2014 9:03 pm

Re: The Debt.

Post by Izual_Rebirth » Sat Jan 09, 2016 5:44 pm

Izual_Rebirth wrote:I hate to say I told you so but... something is going on and it's not good. Seeing as we've just lost 50M+ over the last 12 months and now this?

Like I said people... a slow painful death awaits. The first nail in the coffin is when the owners try to hide things from the fans and communication breaks down. Moving to the LTD company means they don't have to be as transparent as they were before. Why? Because they want to hide how bad the clubs finances are in.
This is what I said a year ago and people were very rude to me over it but looks like all this news of hidden debt not being declare etc is absolutely true.

Who is online

Users browsing this forum: No registered users and 18 guests