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

[bristol_Wanderer3]

I see from Iles Twitter, there still seems to be some discussions going on. KA really needs to take the last off ramp regardless if he ends up with a bad deal. We have just past the sign that says "Road Unfinished Ahead". Cross everything.

[Dave Sutton's barnet]

I see from Iles Twitter, there still seems to be some discussions going on. KA really needs to take the last off ramp regardless if he ends up with a bad deal. We have just past the sign that says "Road Unfinished Ahead". Cross everything.

I'd be intrigued to hear, from people with better fiscal knowledge than me, the possible financial effects of Ken effectively hardballing us into admin. (On a related note, I'm glad to see Worthy's back aboard. This is serious stuff.)

If he stands to lose a bit of money, and that is enough for him to force admin, then we truly have the measure of the man. Eternity is watching.

[TANGODANCER]

Might not be the best way of putting it, but Bolton Wanderers might as well be Mick and Minnie Enterprises in all this. Buyer, seller,cost is all it's about, and not a thought of our reputation, history as a football club or aught else. I'm convinced K.A. has no real interest in football at all, and certainly none in Bolton Wanderers, their players, staff or anyone else. I'd love to be very wrong....

[Dave Sutton's barnet]

McGinlay on TalkSport. Pleads to Anderson: "Hand over the key and get out of the club."

[DJBlu]

McGinlay on TalkSport. Pleads to Anderson: "Hand over the key and get out of the club."

Just hearing, Jim tried calling Ken Anderson last night. Was busy with friends watching the Sheffield derby.

[Dave Sutton's barnet]

BN: Unpaid caterers Heathcote plan to pull out at 3pm today, and won't be back by Saturday if they're not paid.

https://www.theboltonnews.co.uk/sport/1 ... wanderers/

[DJBlu]

BN: Unpaid caterers Heathcote plan to pull out at 3pm today, and won't be back by Saturday if they're not paid.

https://www.theboltonnews.co.uk/sport/1 ... wanderers/

[Dave Sutton's barnet]

(NB Nixon insists the deal isn't dead yet, but time is running out.)

Meanwhile, Iles has produced a where-we're-at:

https://www.theboltonnews.co.uk/news/17 ... -48-hours/

[boltonboris]

It's my sons 3rd Birthday on Saturday and we've booked one of those family packages things, where you meet the players, get a signed shirt and ball etc and go pitchside for the warm-up - Cost us about £120.00 with the ST upgrades

A Lady at the hospitality part of the club has called us to say, basically, they're having a meeting this afternoon and they'll be able to give us the "likelihood" of the game going ahead this weekend :-/

[boltonboris]

And Season Ticket DD's haven't been taken because "currently, there is nowhere for your money to go"

[Dave Sutton's barnet]

Interesting Boris, thanks, and sorry to hear your littl'un's day might be spoiled. If food is involved, it might be affected by Heathcotes' announcement this morning (or rather their meeting this afternoon, or rather - if we get right down to it - the fact that our glorious club hasn't paid them).

[Jim_McDonuts]

Council meeting atm to decide if game can go ahead Saturday.

Can't even see us limping on to the winding up order on the 20th.

We've hit full-on 'beggaring belief' territory.

Domed (48 hours to go!!)

[Dave Sutton's barnet]

Iles liveblogging. Council announcement expected at 2pm over whether the Millwall game can take place.

https://www.theboltonnews.co.uk/news/17 ... wanderers/

[Jim_McDonuts]

Re the takeover rollover - Although no doubt NDA'd up their arses, doesn't require too much inference to conclude that there are some nasty surprises/obligations in those accounts and they've obviously balked and walked.

It's over I reckon. Can't help but shudder thinking of ED's last input, what a mockery.

[boltonboris]

Interesting Boris, thanks, and sorry to hear your littl'un's day might be spoiled. If food is involved, it might be affected by Heathcotes' announcement this morning (or rather their meeting this afternoon, or rather - if we get right down to it - the fact that our glorious club hasn't paid them).

I'm not arsed about their ridiculously bad food, but I am concerned about the possibility of no ridiculously bad beer!

[Dave Sutton's barnet]

Interesting Boris, thanks, and sorry to hear your littl'un's day might be spoiled. If food is involved, it might be affected by Heathcotes' announcement this morning (or rather their meeting this afternoon, or rather - if we get right down to it - the fact that our glorious club hasn't paid them).

I'm not arsed about their ridiculously bad food, but I am concerned about the possibility of no ridiculously bad beer!

Aye. And at the moment, the possibility of no ridiculously bad team representing our ridiculed old club.

[TKIZ!]

My super limited understanding of the finances has me me reaching these conclusions:

-White Ventures has walked from negotiations because they have found financials in the books that make for grime reading
-Admin will not be possible because KA has not got the 3 months worth of wages to pay out for it. The plan seems to be to try and force buyers hand.
- The £5m he received from ED was a loan. He has secured creditor status now and won't have to sell for a price he doesn't agree with.
-Liquidation will mean club goes out of business but KA will earn some money back as a creditor netting him a small 'profit on the venture.
-We'd have to start again from further down the chain. Potentially White Ventures could acquire the liquidated companies assess. But, that would mean an instant loss making venture as the crowds would surely slump to maybe anything from 2-8k depending on cost of games.

Essentially Ken has us over a barrel. He doesn't have to pay the wages if he argues he can't get into the accounts. Morally it's awful but that's why I'm not a wealthy businessman and work in HR

[bristol_Wanderer3]

-Admin will not be possible because KA has not got the 3 months worth of wages to pay out for it. The plan seems to be to try and force buyers hand.

I've seen this written a lot, but can't find any rule that stipulates this. It instinctively makes no sense, if we had three months of wages, we would be in our best financial position for years! Can someone point me in the right direction?

[Dave Sutton's barnet]

Decision delayed until 1pm tomorrow.

"SAG [the Safety Advisory Group] has agreed to give club until 1pm tomorrow to provide adequate reassurances, otherwise Bolton Council will be legally forced to issue a prohibition notice."

[Enoch]

Can someone point me in the right direction?

Ashton Gate?