The Debt.

[StaffsTrotter]

That's what I've been saying! Conclusion: he wasn't that bothered about cutting his losses in the summer (anymore than he has been for several years - continuing the trend of a slow but managed cut back with funds still there for certain signings eg. Spearing, loans for Dawson and Juke, Amos). That's also supported by Lennon seeming to think he could sign players at the end of the summer window, and loans after that. The decision to abort, abort, came later.

I know what you're saying. It's not what I'm saying at all...

I thought FFP had been the main driver for cost cutting (albeit ED may have been quite glad of it as an excuse). I still cant get my head around FFP, which I thought pushed clubs to living within their means and which I thought we met last year and apparently could again with latest accounts, but yet we are now a financial basket case of a club - is that simply down to the disappearance of future parachute payments even though I thought it looked like a lot of player contracts were up at season end ?

[Lost Leopard Spot]

I DON'T CARE ANYMORE.
MAKE IT STOP.

[irie Cee Bee]

I have no clue what's going on. Games being played and we are being taken on an emotional ride by experienced poker playing negotiators. Debt was on paper...owed to owner..BWCFC in good health...signing players on healthy wages... to having persons wanting to buy... to not being able to buy.. then we cant pay staff and players...to not being able to pay tax bills of 600 thousand pounds... to having to sell our assets including players to stay afloat and pay 2 million pounds debt... to being given winding up orders..then a stay of execution.. to needing to sell players to pay for Administration... to no Admin..to not having to sell players.. to getting rid of players for free..

I give up.

[Worthy4England]

That's what I've been saying! Conclusion: he wasn't that bothered about cutting his losses in the summer (anymore than he has been for several years - continuing the trend of a slow but managed cut back with funds still there for certain signings eg. Spearing, loans for Dawson and Juke, Amos). That's also supported by Lennon seeming to think he could sign players at the end of the summer window, and loans after that. The decision to abort, abort, came later.

I know what you're saying. It's not what I'm saying at all...

I thought FFP had been the main driver for cost cutting (albeit ED may have been quite glad of it as an excuse). I still cant get my head around FFP, which I thought pushed clubs to living within their means and which I thought we met last year and apparently could again with latest accounts, but yet we are now a financial basket case of a club - is that simply down to the disappearance of future parachute payments even though I thought it looked like a lot of player contracts were up at season end ?

Pretty much all of the above ignoring long term debt...think we got £40+ mill from broadcast in the Prem...which drops to a base £2.3m post paras...At the same time FFP kicked in and ED wanted to stop bakrolling completely.

[plymouth wanderer]

It’s the longest 48 hours in sporting history. For that was the time scale given just after Sports Shield, the consortium fronted by Dean Holdsworth, announced an interest in buying Bolton Wanderers. That was last year.

Deano is still around and the number of other groups wishing to buy the club varies between zero and three depending on the day of the week. Former player Stelios was mentioned at one point, but decided that the Greek economy was a better bet.


At first it was thought that the interested parties had seen the books and didn’t like the numbers, but now it’s turns out that none of them have offered enough money to even see the figures. Owner Eddie Davies and his sidekick Trevor Birch, the Dastardly and Muttley of Championship football, originally wanted £15 million, but will take £1 now, providing the debts are covered, which means the final purchase price will be 85p with an option on a Greenhalgh’s pasty.

Still, parts of the business has been jettisoned. Some of the car parks were disposed of a while back, and others are rumoured to follow, whilst the offices went in order to pay off the equivalent of a £5 million pay day loan. Should absent chairman Phil Gartside return to his post then he’ll be housed in a Portokabin next to the hamburger stand on Lostock Lane whilst board meetings will take place at the nearby Wacky Warehouse.

Attempts to offload the few players that can be put on the market without raising a laugh, have been less successful. Josh Vela was going to Cardiff for £450,000. Then he wasn’t.

Zac Clough. Not popular in Bristol

Zac Clough was on his way to Bristol City. Oh no he wasn’t. Oh yes he was, but for a reduced fee. Now it seems that Young Zac has turned down a move as he doesn’t fancy living in a place where everyone looks and sounds like Wallace and Gromit.

A bid of £750,000 was accepted for Mark Davies from Sheffield Wednesday, but personal terms, surrounding his fast food allowance could not be agreed. There was also a complication. Whites fans are used to mini Davo going missing during games, but it seemed he’d vanished altogether according to Neil Lennon.

“I’ve not seen Mark Davies since Thursday,” said the Ginger Sex Beast. A hint Neil: Look in the treatment rooms at the Macron, if the club still owns them, or the nearest branch of McDonalds.

Why do players need to be sold? To keep out of administration of course. Or to pay the fees when going into administration. No one seems quite sure.

The staff were paid last month – eventually, with help from the PFA. What happens on the next wage run is anyone’s guess. Unfortunately, there’s a £2 million tax demand that remains unattended to, which HMRC takes a dim view of, unless you’re Starbucks, Amazon, Google or anyone else big enough to stick two fingers up at them.

Not that you’d have known there was a problem back in November when hints of how bad the situation was began to emerge.

“Whilst the club acknowledges it is going through a challenging time, there have been no threats to any staff jobs in the immediate future. After consistent backing from owner Eddie Davies, the club continues to seek fresh investment in what is a difficult and challenging economic climate.” ran a statement on the official site. Backing from Owner Ed got a little less consistent just after that.

However, for entirely misplaced complacency, those words pale in comparison to Gartside’s, just after relegation from the Premier League.

“We’ve got a fantastic benefactor in Eddie Davies, who happens to come from Bolton which is an asset. We’ve got a very small bank debt. We’ve got a £10 million overdraft with Barclays. In fact Barclays raised that this year to £15 million. The rest of the debt is better described as equity because it’s Eddie’s debt, he doesn’t get interest on it and he’s there for the long term.”


Saw this on manny road

bout sums it up

[H. Pedersen]

Good stuff.

[Dave Sutton's barnet]

Except that Wallace and Gromit is set not in Bristol but in Lancashire

[BWFC_Insane]

http://www.theboltonnews.co.uk/sport/wa ... ht_bidder/" onclick="window.open(this.href);return false;

Well said Gudni, I agree with every word.

[thebish]

http://www.theboltonnews.co.uk/sport/wa ... ht_bidder/

Well said Gudni, I agree with every word.

well - make sure the club is sold to the RIGHT bidder - huzzah!

surely that presumes the luxury of:

a) there being a choice of serious bidders
b) the club having the time for that "right" bidder to get all their cash in a bag

[Gary the Enfield]

They've raised £24000 already? Impressive. What's it being used for?

And SKD and SJM are having a contest to sign up more on Tuesday night? What? How?

[boltonboris]

I have no clue what's going on. Games being played and we are being taken on an emotional ride by experienced poker playing negotiators. Debt was on paper...owed to owner..BWCFC in good health...signing players on healthy wages... to having persons wanting to buy... to not being able to buy.. then we cant pay staff and players...to not being able to pay tax bills of 600 thousand pounds... to having to sell our assets including players to stay afloat and pay 2 million pounds debt... to being given winding up orders..then a stay of execution.. to needing to sell players to pay for Administration... to no Admin..to not having to sell players.. to getting rid of players for free..

I give up.

Not sure what you're struggling with

[thebish]

They've raised £24000 already? Impressive. What's it being used for?

And SKD and SJM are having a contest to sign up more on Tuesday night? What? How?

in amongst the fans - buckets may be involved.. oh dear!

[Beefheart]

The comments section of The Bolton News website has more idiots than The Daily Mail most of the time. Christ.

[Worthy4England]

They've raised £24000 already? Impressive. What's it being used for?

And SKD and SJM are having a contest to sign up more on Tuesday night? What? How?

Not quite right. They're not taking money at the moment (or weren't when I signed up), they have 2,400 pledges of a tenner...but not the actual tenner itself...

[Riviman]

They've raised £24000 already? Impressive. What's it being used for?

And SKD and SJM are having a contest to sign up more on Tuesday night? What? How?

Don't think the Trust has raised any money yet as when you sign up, which I have, the first year is free and you agree to pay £10 after the first year is over.
Over 3100 people have signed up as of 11.11am today.

[Abdoulaye's Twin]

The comments section of The Bolton News website has more idiots than The Daily Mail most of the time. Christ.

Ahhh, but do they have a Hobo?

[Hoboh]

The comments section of The Bolton News website has more idiots than The Daily Mail most of the time. Christ.

Ahhh, but do they have a Hobo?

Not on there mate, well very, very rarely, too extreme.

[Abdoulaye's Twin]

The comments section of The Bolton News website has more idiots than The Daily Mail most of the time. Christ.

Ahhh, but do they have a Hobo?

Not on there mate, well very, very rarely, too extreme.

Can't help yourself sometimes eh?

[H. Pedersen]

They've raised £24000 already? Impressive. What's it being used for?

And SKD and SJM are having a contest to sign up more on Tuesday night? What? How?

I bet they could raise a decent chunk of cash by putting Emma Davies and Phil Gartside in a dunk tank.

[Lost Leopard Spot]

Ok, help me, what's a dunk tank?