The Debt.

[TKIZ!]

From Alan Nixon (admittedly 8 hours ago)
Alan Nixon ‏@reluctantnicko 8h hours ago
Bolton takeover update. Better news is that sale of offices seems to have got rid of Nucleus loan. Makes sale easier. If anyone has money.

[Abdoulaye's Twin]

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.

The debt that was known is not the problem, it's the fact Ed has stopped covering the difference between income and expenditure. So your told you so is bollocks

[Lost Leopard Spot]

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.

People were very rude to you. I don't think I was, (although I might have been), but yeah you were an early adopter of the new glum, so what did you expect; the nub of the saying 'don't shoot the messenger' is because, in the past, they actually did shoot the messenger.

[Jugs]

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.

It would make sense, but when does BWFC ever do things that make sense!

[thebish]

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.

People were very rude to you. I don't think I was, (although I might have been), but yeah you were an early adopter of the new glum, so what did you expect; the nub of the saying 'don't shoot the messenger' is because, in the past, they actually did shoot the messenger.

also he was talking bollox - as he is now.

[twilight]

OK...so being thick again here, but why do we need to have, say, £2ml to go into administration?

[TANGODANCER]

OK...so being thick again here, but why do we need to have, say, £2ml to go into administration?

That'll be the lawyers fees for a day in court. I'm joking, of course....(I think)

[Izual_Rebirth]

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.

It would make sense, but when does BWFC ever do things that make sense!

Heh. Pompey tried to put it off and ended up with point deductions in two separate seasons.

[Worthy4England]

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.

People were very rude to you. I don't think I was, (although I might have been), but yeah you were an early adopter of the new glum, so what did you expect; the nub of the saying 'don't shoot the messenger' is because, in the past, they actually did shoot the messenger.

also he was talking bollox - as he is now.

I predict the world is going to end. People say it's nowt to do with global warming, but I tell you, come Tuesday, it'll all be over. (well actually the Tuesday bit might be somewhat in advance of the actual end of the world, and in the interim, the conditions might change substantively, but when it happens, I'll be back to tell you "I told you so" even though at the time I said it, it wasn't imminent)

[TANGODANCER]

The date is August eighth 2015 and we are about to kick off a new season. I shall consult the runes and tell of a triumphant year and.... oh dear, must be something wrong with these runes; they reckon that by January 2016 we'll be bottom of the league, can't win an egg and spoon race, can't pay our players wages and be victims of the most monumental business cock up imaginable. So much for fortune telling; what rubbish. I'm off to the bookies. Wonder what odds I can get on that one?

[Riviman]

http://www.burndenaces.co.uk/2016/01/10 ... ities.html" onclick="window.open(this.href);return false;

Wigan to buy Euxton ?

[BWFC_Insane]

Nixon says if there is no concrete takeover this week then club will likely go into admin ahead of the 18th Janaury. Also says sometimes darkest hour is before the dawn.

Edit: Iles saying same thing too. Iles suggesting admin very likely. Meeting in London today to discuss administration route he says.

[Gary the Enfield]

EI EI EI O
Down the football leagues we go
In administration, this is what we'll sing
We are Bolton
We don't own a single f ucking thing!

[palindromeofbolton]

This has been the first thing I've seen put a number on the office sale, which is £4m:
http://www.footballeconomy.com/content/ ... nistration" onclick="window.open(this.href);return false;

Guessing the bulk of that went on last month's wages and maybe a bit of interest on the interest.

Any guesses what the sale of Euxton would bring in?

[BWFC_Insane]

Iles says,

Meeting today in London is with sports shield.

Couple of days for a firm buyer to come forward. Otherwise admin. But costs club to enter admin so that is why sale of Davies and Clough is going through to pay for potential administration.

[Riviman]

This has been the first thing I've seen put a number on the office sale, which is £4m:
http://www.footballeconomy.com/content/ ... nistration" onclick="window.open(this.href);return false;

Guessing the bulk of that went on last month's wages and maybe a bit of interest on the interest.

Any guesses what the sale of Euxton would bring in?

Mail yesterday put the income from the offices as £600,000 pa:
http://www.dailymail.co.uk/sport/footba ... paign=1490" onclick="window.open(this.href);return false;

[malcd1]

This has been the first thing I've seen put a number on the office sale, which is £4m:
http://www.footballeconomy.com/content/ ... nistration" onclick="window.open(this.href);return false;

Guessing the bulk of that went on last month's wages and maybe a bit of interest on the interest.

Any guesses what the sale of Euxton would bring in?

I personally don't think the training ground will bring in too much. If I have the right location, it is sandwiched between an office block and a go-carting/driving range. Also, a railway line runs immediately along the rear and is site is overlooked by a warehouse. It is not prime housing land and so would probably have to be sold as a training ground. With Preston and Wigan looking at it, I cannot see it raising an awful lot.

[Hoboh]

What a terrible Sunday, even if the rain's stopped for a while.

We are skint,

We are going bust,

£15 million down my arse, for what? a name, 'cause that's all that will be left of the club.

Laurel and fecking Hardy could have run the club better than Davies aided and abetted by Know now't Gartside.

I hope some chickens come home to roost for some people, oh and Lennon, just piss off you poor excuse of a manager!

[Harry Genshaw]

Iles says,

Meeting today in London is with sports shield.

Couple of days for a firm buyer to come forward. Otherwise admin. But costs club to enter admin so that is why sale of Davies and Clough is going through to pay for potential administration.

I'm an absolute thicko with all this but I thought the sole purpose of flogging these two was to pay the tax bill and thus stave off administration?

[twilight]

Iles says,

Meeting today in London is with sports shield.

Couple of days for a firm buyer to come forward. Otherwise admin. But costs club to enter admin so that is why sale of Davies and Clough is going through to pay for potential administration.

I'm an absolute thicko with all this but I thought the sole purpose of flogging these two was to pay the tax bill and thus stave off administration?

You and me both. But then I keep hearing that the sale of both Davies & Clough, (if there is no buyer for the club), goes towards when they go into administration?