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

[Peter Thompson]

RIP Eddie....thanks for funding the great times & allowing us to see the likes of JJ, Youri, Campo, Hierro, N'Gotty, Anelka etc.

[bristol_Wanderer3]

Terrible news re Eddie. His contribution to BWFC gave us some of the best times in our history. How ironic it was today, given the goings on at the UniBol. RIP Eddie.

[irie Cee Bee]

Eddie Davies has passed away.....

Terrible news this. What a day for this to happen. He loved this club with his heart. We took him for granted. Now in his death, as with many heroes, we now appreciate what he did for this club when compared with how others are trying to manipulate it to their own interest.

RIP Eddie.

[officer_dibble]

Probably move the Eddie condolences and tributes mods...

Doesn’t feel right then being in here.

[BWFC_Insane]

Incredibly, first team manager Phil Parkinson was among the chief instigators, ringing round the primary players in a frantic effort to preserve his team’s excellent start. And within a few hours it was evident some progress had been made. Whereas talks had collapsed the night before, the two sides were once again exchanging information.

Anyone who doesn’t think Parky is the best thing we’ve had at this club since Big Sam wants their bumps feeling.

What a legend. I absolutely love him. I also feel so sorry that he’s ended up having to do this.

Also noted Big Sam was singing Parky’s praises earlier today. It’s only a minority of Bolton fans who don’t seem to appreciate what this man has done for us. Right up there with Bruce Ricoh and Sam Allardyce without a shadow of a doubt. And he’s worked in absolutely mentally ridiculous circumstances. Having success in football is hard enough. Having success when literally everything, everything is against you is exemplary.

If Ken has done one amazing thing it was appointing Parky.

[DJBlu]

Incredibly, first team manager Phil Parkinson was among the chief instigators, ringing round the primary players in a frantic effort to preserve his team’s excellent start. And within a few hours it was evident some progress had been made. Whereas talks had collapsed the night before, the two sides were once again exchanging information.

Anyone who doesn’t think Parky is the best thing we’ve had at this club since Big Sam wants their bumps feeling.

What a legend. I absolutely love him. I also feel so sorry that he’s ended up having to do this.

Also noted Big Sam was singing Parky’s praises earlier today. It’s only a minority of Bolton fans who don’t seem to appreciate what this man has done for us. Right up there with Bruce Ricoh and Sam Allardyce without a shadow of a doubt. And he’s worked in absolutely mentally ridiculous circumstances. Having success in football is hard enough. Having success when literally everything, everything is against you is exemplary.

If Ken has done one amazing thing it was appointing Parky.

This

The man is rallying around whilst there is pandemonium going on around him. He's looking for life rafts whilst all others are trying to jump in with the women and children.

He has been exemplary in the current dire situation.

[officer_dibble]

Very lucky to have Parky. His appointment was Ken’s Best act, by a mile. I can only hope he feels appreciated and that this is his club.

[Enoch]

There we go! That's the spirit.

It's like that piece of gum that gets on the sole of your shoe.

[Prufrock]

Very lucky to have Parky. His appointment was Ken’s Best act, by a mile. I can only hope he feels appreciated and that this is his club.

Indeed. There's poignancy about the club today. Current situation cannot continue. Need to get rid of the lizards

[TANGODANCER]

This, more than anything, worries me as to where we might have been now but for Eddie Davies, and, as a club how we managed to get in that staggering situation:

"The father-of-two was appointed alongside Nat Lofthouse as the club's life president when he handed over control in March 2016 to Ken Anderson and Dean Holdsworth. At the time he wiped off £171million of loans to the club and left in £15m."

That's a mind-numbing amount of money for any club. no point in commenting further because thre are so many unanswered questions, but considering today's events, not to be worried isn't an option.

[Prufrock]

Didn't realise he was only 72. Always thought of him as a twinkly old benefactor... for 20 years.

Sleep easy fella.

[dave the minion]

Have we had it officially confirmed yet whether or not the EFL will be deducting the 12 points (ie did we avoid technical administration?)

[Dave Sutton's barnet]

Have we had it officially confirmed yet whether or not the EFL will be deducting the 12 points (ie did we avoid technical administration?)

No, and I wouldn't hold your breath on that.

For starters, the deal hasn't been fully signed and sealed (although BluMarble seem happy enough with the suggested payments to call off the administrator).

And then, the EFL are not the fastest-moving creatures. I'm slightly worried that they've let it be known that Birmingham might have points deducted, indicating a harder stance; hopefully, we'll be OK because our circumstances are sufficiently different to theirs – not so much spending beyond our means as struggling to repay a historic debt. Mind, the fact it came a week after organising a £1m signing isn't great PR.

[bristol_Wanderer3]

https://www.bbc.co.uk/programmes/p06jc5wb

^^ There was a hour long programme on BBC Greater Manchester Radio devoted to us last night. Darrell Issa, ex chairman of the Supporters Trust, called in during the last five minutes of the programme and suggested that essentially we only went halfway towards achieving an "Insolvency Event" as defined by the EFL, and thus we haven't triggered the necessary conditions to invoke the 12 point penalty.

After some very quick research, the relevant EFL rule seems to be this:

the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)(c)) or where an Administrator is appointed or an Administration Order is made (‘Administrator’ and ‘Administration Order’ having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act);

https://www.efl.com/-more/governance/ef ... --general/

So Issa is suggesting we lodged the notice of intention to appoint an administrator, but did not submit the application to the court for an administration order, which definitely seems to be what happened.

[Dave Sutton's barnet]

Iles:

"Bolton Wanderers have confirmed NO ADMINISTRATION and NO POINTS DEDUCTION will be incurred."

Meanwhile, Ken:
https://www.bwfc.co.uk/news/2018/septem ... chairman5/

Following on from all the speculation, I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.

I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.

As previously stated, I believe the club now has one of the lowest debt positions in the Championship.

I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.

We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch.

[Prufrock]

Any whisperings on what the "bigger" news behind the scenes was yesterday? I'm guessing from the way it was trailed it relates to finances/ownership rather than being about ED.

[Dave Sutton's barnet]

Any whisperings on what the "bigger" news behind the scenes was yesterday? I'm guessing from the way it was trailed it relates to finances/ownership rather than being about ED.

In reply to a tweet about the US billionaire, Iles said "Wanted to do a deal in admin (Do a deal with an administrator to buy the club. Generally cheaper). We'll see if they come back and try again, solvent."

[officer_dibble]

Once more unto the breach...

[BWFC_Insane]

Any whisperings on what the "bigger" news behind the scenes was yesterday? I'm guessing from the way it was trailed it relates to finances/ownership rather than being about ED.

Nixon. Good at reporting rumours. Not sure his analysis of background football finance is all that informed. Ken did say other loans were renegotiated yesterday. Doesn’t mean it’s because a sale is anticipated. Might be as a result of further loans taken out yesterday to pay off BM. For example, we know James paid some of it....

[mullayo]

What's going on??
You look away for one international break and come back to find the club's almost gone...
Thankfully it appears sort of sorted, but what are the longterm repercussions?

How does this affect our rebuilding? Recruiting players with our financial track record will be tough.
Firesale in January? Beevers, Vela et al.?

Really need a respectable mid-table-ish finish. Brimingham -12 would help.