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

[nelson66]

[/quote]
Whatever is not covered by the sale of shares will be owed by the club come March 2018.
[/quote]

Is that right ? Was his borrowing backed by Bolton Wanderers assets ? _ The BBC seem to think that BluMarble can come chasing BWFC for any shortfall in the share sale below £7m that they are owed - can even come and take our laptops and desks etc like a baliff !!!
See -
https://twitter.com/BBCRMsport/status/8 ... 4865114112

I had to look up what a controlling director is - as I thought that it was someone who had 50%+ of the share holding - or a higher % share holding than others - but its this

Q: What is a controlling director?
A: A Controlling Director is defined as "a member who, at any time after 16 March 1987 and within 10 years of retirement or leaving service or leaving pensionable service, has been a director and, either on his or her own or with one or more associates has beneficially owned or been able to control, directly, indirectly or through other companies, 20% or more of the ordinary share capital of the company". For the purposes of this definition, 'associate' means in relation to a director, any relative or partner (within the meaning of the Partnership Act 1890).

That would make DH a controlling director - and under football league rules - we could be in line for a points deduction - but our club hasnt gone bust - only one of our directors - so are we going to get hit with a points deduction or not ?

[Bruce Rioja]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.

But why would anybody else want to buy a minority shareholding in an ailing business? I mean, you're right in what you say, but I can't for the life of me see these shares being of any interest to anybody other than KA.

[BWFC_Insane]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.

But why would anybody else want to buy a minority shareholding in an ailing business? I mean, you're right in what you say, but I can't for the life of me see these shares being of any interest to anybody other than KA.

Iles claims multiple parties, including KA, are interested.

I would agree, apart from the delusional and dangerous Supporters Trust, can't see why anyone else would want to. But there are some weird folk about I guess.

[officer_dibble]

In a strange way I am actually relieved that it isn't another adjournment / delay. At least we can move forwards now.

Thanks Dean though. You absolute turkey.

[BWFC_Insane]

In a strange way I am actually relieved that it isn't another adjournment / delay. At least we can move forwards now.

Thanks Dean though. You absolute turkey.

Or backwards. I'd say backwards is probably the likeliest.

[officer_dibble]

Alright then just move! The inertia was setting in.

[Bruce Rioja]

Well, I guess we're now going to get both sides of the story but I do hope that it doesn't degenerate into a public slanging match.

Thinking about a possible points deduction - I don't see it happening. It isn't Bolton Wanderers that have gone bust.

[officer_dibble]

I imagine the chair people of Barnsley, Burton, Millwall etc will be asking the question. IIRC Southampton had one when the parent company went bust? A points deduction so early on would effectively destroy the season, be a real shame for everyone who had bought tickets and impact on future sales as well I imagine. Lets hope that isn't the outcome.

[Lost Leopard Spot]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.

But why would anybody else want to buy a minority shareholding in an ailing business? I mean, you're right in what you say, but I can't for the life of me see these shares being of any interest to anybody other than KA.

Iles claims multiple parties, including KA, are interested.

I would agree, apart from the delusional and dangerous Supporters Trust, can't see why anyone else would want to. But there are some weird folk about I guess.

Cheezus, are they still about!

[Bruce Rioja]

And bang on cue..........

https://www.bwfc.co.uk/news/2017/august ... chairman4/

[bristol_Wanderer3]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.

But why would anybody else want to buy a minority shareholding in an ailing business? I mean, you're right in what you say, but I can't for the life of me see these shares being of any interest to anybody other than KA.

Iles claims multiple parties, including KA, are interested.

I would agree, apart from the delusional and dangerous Supporters Trust, can't see why anyone else would want to. But there are some weird folk about I guess.

Not sure about that. 37.5% of BWFC would be worth £50m+ if we were in the Premiership. Notts Forest were recently sold for upwards of £50m, making 37.5% of them worth £18.75m+. Getting 37.5% of BWFC for around £5m or even £7m looks a reasonable gamble in the world of football ownership. From a part owners point of view, we could easily survive this season and once out of the embargo, and with some modest investment be challenging the top 6. The stadium, facilities, manager team are all in place, it only needs some decent players.

EDIT - Just seen KA's statement. I would have liked it to have definitively ruled out the possibility of a points deduction...

[BWFC_Insane]

And bang on cue..........

https://www.bwfc.co.uk/news/2017/august ... chairman4/

Reads to me like a "please come and get me out of here" statement.

Doesn't sound like he thinks he's buying those shares. Presumably why its got to this stage. KA must have been trying to lowball Holdsworth and BM. Now the shares on the open market with a liquidator duty bound to get best value.....

At the mercy as to who gets them. And how whoever gets them co-operates or doesn't with Ken.

Feels bleak on and off the pitch right now. And its only bloody August!

[BWFC_Insane]

Does Ken have the cash to buy the shares though? I expect we'll be hearing from him soon enough.

Nobody knows. Given they are in effect on the open market it depends who wants them and how much they are prepared to pay.

He clearly didn't have the cash (or desire) to settle the issue prior to court.

But why would anybody else want to buy a minority shareholding in an ailing business? I mean, you're right in what you say, but I can't for the life of me see these shares being of any interest to anybody other than KA.

Iles claims multiple parties, including KA, are interested.

I would agree, apart from the delusional and dangerous Supporters Trust, can't see why anyone else would want to. But there are some weird folk about I guess.

Not sure about that. 37.5% of BWFC would be worth £50m+ if we were in the Premiership. Notts Forest were recently sold for upwards of £50m, making 37.5% of them worth £18.75m+. Getting 37.5% of BWFC for around £5m or even £7m looks a reasonable gamble in the world of football ownership. From a part owners point of view, we could easily survive this season and once out of the embargo, and with some modest investment be challenging the top 6. The stadium, facilities, manager team are all in place, it only needs some decent players.

EDIT - Just seen KA's statement. I would have liked it to have definitively ruled out the possibility of a points deduction...

The club is making a loss. The business is valued at assets (minus that loss). Which means the value is in asset stripping - if viewed as a traditional business.

[bristol_Wanderer3]

The club is making a loss. The business is valued at assets (minus that loss). Which means the value is in asset stripping - if viewed as a traditional business.

This is football, pretty much every club is making a loss, and very rich people buy into clubs to boost their ego, and particularly when the club is in the Championship, to gamble on having a good season and striking gold upon reaching the Prem.

Incidentally, with Championship TV money, a reduced wage bill compared to last season, bigger crowds, increased ticket prices and more and better sponsorship deals, I don't think the club is currently making a loss.

[BWFC_Insane]

EFL say they will review SSBWFC liquidation in September - haven't ruled out sanctions (e.g. points deduction).

We're going to be deducted points. Clear as day.

[Bruce Rioja]

EFL say they will review SSBWFC liquidation in September - haven't ruled out sanctions (e.g. points deduction).

We're going to be deducted points. Clear as day.

Well, we can only wait and see, but I remain considerably more optimistic than you on this one.

[Gravdigger]

What will happen to Holdsworth now. Is his ambassadorial role still on?

[LeverEnd]

What will happen to Holdsworth now. Is his ambassadorial role still on?

I very much doubt it. I always saw that as keeping him sweet while discussing the issues.
If he wants any future association with the club he needs to explain himself to the fans, because it looks very bad. He pocketed £1m of that money apparently didn't he?
I don't trust the Andersons in the slightest either, and wonder if there's a story that we've not heard that might come out now.

[bristol_Wanderer3]

EFL say they will review SSBWFC liquidation in September - haven't ruled out sanctions (e.g. points deduction).

We're going to be deducted points. Clear as day.

Well, we can only wait and see, but I remain considerably more optimistic than you on this one.

I mean this has been going on months, the EFL have been consulted, and KA is now saying that the winding up of SSBWFC is welcome news. It would be pretty poor from KA if that "welcome" news results in a points deduction. I would still like to see it explicitly said that a points deduction will not be happening however...

[Lost Leopard Spot]

EFL say they will review SSBWFC liquidation in September - haven't ruled out sanctions (e.g. points deduction).

We're going to be deducted points. Clear as day.

Well, we can only wait and see, but I remain considerably more optimistic than you on this one.

I mean this has been going on months, the EFL have been consulted, and KA is now saying that the winding up of SSBWFC is welcome news. It would be pretty poor from KA if that "welcome" news results in a points deduction. I would still like to see it explicitly said that a points deduction will not be happening however...

I don't understand the logic behind a points reduction for this. What would it punish that the club did, and what would it deter in future behavior of other clubs?