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

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LeverEnd
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by LeverEnd » Thu Jan 26, 2017 10:36 pm

He definitely intitiated things.
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by TonyDomingos » Thu Jan 26, 2017 10:41 pm

LeverEnd wrote:He definitely intitiated things.
That's why they call him DSBosom. Fact.
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by Worthy4England » Thu Jan 26, 2017 11:27 pm

We're getting pretty close to your actual 48 hours left before the submit the accounts day... JSL.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Fri Jan 27, 2017 8:43 am

Hoboh wrote:
TANGODANCER wrote:Some progress somewhere....???

http://www.theboltonnews.co.uk/sport/15 ... ef=mr&lp=1" onclick="window.open(this.href);return false;
Seems they had little choice in the matter to be fair, play hardball with people you owe money to and you usually come unstuck eventually.
To be clear this was a deal negotiated by the previous board that at the Q&A Ken openly described as "ridiculous" and he said at that time "this one could well end up in court".

As much as there are things to be concerned about, this is fairly low on the list. Frankly, Ken is clearly trying to wriggle out of poor deals on the last lots watch.

The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options is more concerning, IMHO.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by Hoboh » Fri Jan 27, 2017 9:36 am

BWFC_Insane wrote:
Hoboh wrote:
TANGODANCER wrote:Some progress somewhere....???

http://www.theboltonnews.co.uk/sport/15 ... ef=mr&lp=1" onclick="window.open(this.href);return false;
Seems they had little choice in the matter to be fair, play hardball with people you owe money to and you usually come unstuck eventually.
To be clear this was a deal negotiated by the previous board that at the Q&A Ken openly described as "ridiculous" and he said at that time "this one could well end up in court".

As much as there are things to be concerned about, this is fairly low on the list. Frankly, Ken is clearly trying to wriggle out of poor deals on the last lots watch.

The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options is more concerning, IMHO.
To be clear, The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options the only saving grace is a few points in the bag and a decent league position that the wrong injury now will ruin.
Last edited by Hoboh on Mon Jan 30, 2017 11:02 pm, edited 1 time in total.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by officer_dibble » Fri Jan 27, 2017 4:13 pm

To be clear...

Nothing clear about anything really, albeit this regime is more 'public' than the last one.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Fri Jan 27, 2017 4:29 pm

officer_dibble wrote:To be clear...

Nothing clear about anything really, albeit this regime is more 'public' than the last one.
I think that issue was explained as clearly as Ken could at the Q&A without detailing what deal the previous board had done...though that was in the press.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by officer_dibble » Fri Jan 27, 2017 4:38 pm

The clearest thing they could do is submit the accounts and get the embargo lifted.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by CrazyHorse » Fri Jan 27, 2017 5:38 pm

The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.

Ken's in no rush to file those accounts for a reason.
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Fri Jan 27, 2017 6:28 pm

CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.

Ken's in no rush to file those accounts for a reason.
I genuinely don't think that's the case.

I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by Worthy4England » Fri Jan 27, 2017 10:44 pm

BWFC_Insane wrote:
CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.

Ken's in no rush to file those accounts for a reason.
I genuinely don't think that's the case.

I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.
It may not be the case that they're not filed because the Manager would be knocking on the door.

It's almost certainly the case that they've not been filed "for a reason".

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Sat Jan 28, 2017 10:00 am

Worthy4England wrote:
BWFC_Insane wrote:
CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.

Ken's in no rush to file those accounts for a reason.
I genuinely don't think that's the case.

I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.
It may not be the case that they're not filed because the Manager would be knocking on the door.

It's almost certainly the case that they've not been filed "for a reason".
Aye. No doubting that. I suspect the audit has been rather tricky given the mess the club was left in. I heard that at point of sale nobody had a clue what the club owed to its creditors.

I imagine that is and has taken some significant untangling.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by dave the minion » Mon Jan 30, 2017 8:17 am

For a company to file its accounts on a "going concern" basis, it has to convince the auditors that it has the financial means to survive from the 12 months from the date of signature. If they can't do this then either the auditors qualify the accounts (bad) or they have to prepare the accounts on a "break up basis" - which means they present the company as expecting to be wound up in the next 12 months (worse).

I suspect - and I have no insider knowledge - the current delay is basically to keep stalling whilst Ken sorts out some outside investment, which will then convince the auditors that the company is viable for 12 months....

This doesnt mean without the investment that the club folds - Ken and others can keep propping it up - but as the funding isn't guaranteed then the auditors would not be able to rely on it, hence not sign the accounts.

Either way though, and whatever the outcome, things clearly aren't rosy in the Bolton garden......

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by Worthy4England » Mon Jan 30, 2017 8:34 am

dave the minion wrote:For a company to file its accounts on a "going concern" basis, it has to convince the auditors that it has the financial means to survive from the 12 months from the date of signature. If they can't do this then either the auditors qualify the accounts (bad) or they have to prepare the accounts on a "break up basis" - which means they present the company as expecting to be wound up in the next 12 months (worse).

I suspect - and I have no insider knowledge - the current delay is basically to keep stalling whilst Ken sorts out some outside investment, which will then convince the auditors that the company is viable for 12 months....

This doesnt mean without the investment that the club folds - Ken and others can keep propping it up - but as the funding isn't guaranteed then the auditors would not be able to rely on it, hence not sign the accounts.

Either way though, and whatever the outcome, things clearly aren't rosy in the Bolton garden......
Haven't they already answered the question of "going concern" for the 12 months following the Accounts given they were due for 30 June 2015 and 30 June 2016 has passed and we were still here...

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by dave the minion » Mon Jan 30, 2017 3:30 pm

I thought the same, but I have it on good authority (accountant at work..) that the rules are now 12 months from the date of signing, not 12 months from the date of the year end....

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Mon Jan 30, 2017 3:52 pm

http://www.bwfc.co.uk/news/article/2016 ... 45599.aspx" onclick="window.open(this.href);return false;

We are going to be under embargo for a LONG, LONG time it seems.

Next season could be fun....

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by bristol_Wanderer3 » Mon Jan 30, 2017 4:26 pm

Pretty strange how we seem very strapped for cash, but are managing to reacquire the car parks and the offices, and pay off a loan. It seems pretty clear that the deal DH did to save the club from administration was only a temporary fix and if anything created more issues than it resolved. Obviously DH was the only person around with the desire to step in in our darkest hour so we have to thank him for that.

All in all this is the kind of update I personally want to see from KA, so credit to him for that. We are clearly still in a big mess.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by Worthy4England » Mon Jan 30, 2017 4:43 pm

I'm guessing the Accounts won't be out "by the end of the month" then... :-)

It does sound like most things are progressing albeit maybe not as quick as we'd like. The real big bugbear looks to be the arrangement with KA/DH/Blumarble.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by officer_dibble » Mon Jan 30, 2017 4:46 pm

Re car park/office We wont be paying for one without receiving income in another way, through a drop in rates for example.

Its the stuff on bluemarble that bothers me the most to be honest.

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Re: Ken Anderson - New Owner (Definitely. For Now ..... )

Post by BWFC_Insane » Mon Jan 30, 2017 4:50 pm

Worthy4England wrote:I'm guessing the Accounts won't be out "by the end of the month" then... :-)

It does sound like most things are progressing albeit maybe not as quick as we'd like. The real big bugbear looks to be the arrangement with KA/DH/Blumarble.
Really? It sounds to me like the complete opposite. None of this can be sorted till the Blumarble/sports shield issue is. IF that is going to court, how long will that take to resolve? And how do we finance the club in the meantime. Given Ken's re-financing options appear to hinge on him owning all the shares.

That doesn't sound like it is happening anything like how Ken originally painted it. And whilst clearly Ken isn't to blame, how long can he keep paying the wage bill for out of his own pocket?

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