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

[officer_dibble]

Haha I can’t remember. He’s surely no tit having worked for those organisations. Be interesting to see where this goes!

[Lost Leopard Spot]

The point is, Ken is first in the queue... And he doesn't take pence in the pound....
He can wait till forever and still be secure.

First after football creditors...if there are any....

He is a football creditor, or so he claims... See his remarks to Mr Vince

I haven’t researched it thoroughly but the quote I’ve seen from Dale Vince - and thus a second-hand quote from an axe-grinder - is “secured lender”

I can no longer find the exact article, but my memory is crystal clear that Ken was claiming to be a football creditor. Whether or not he was/is correct is another matter. But I believe that he believes that he is - hence his devil may care brinkmanship with HMRC, because they definitely are not...

[jmjhb]

Kenyon at least has links to the area.

[Joggers Nipple]

I once worked for a company that went into administration. As the Company Buyer I worked closely with the administrators PriceWaterhouseCoopers and they told me the business just had to keep trading for 3 months until a buyer was found or if not it would be liquidated. As it turned out we had a great 3 months, made £500k profit and was sold to a huge French corporation.

They were sniffing around trying to buy us for years but waited for admin and got us on the cheap.
I always thought something underhand had occurred. That was the beginning of the end for me I hated working for the frogs..

[malcd1]

I once worked for a company that went into administration. As the Company Buyer I worked closely with the administrators PriceWaterhouseCoopers and they told me the business just had to keep trading for 3 months until a buyer was found or if not it would be liquidated. As it turned out we had a great 3 months, made £500k profit and was sold to a huge French corporation.

They were sniffing around trying to buy us for years but waited for admin and got us on the cheap.
I always thought something underhand had occurred. That was the beginning of the end for me I hated working for the frogs..

I suspect that is what this consortium is trying to do or else force Anderson's hand to accept a lower figure as we are desperate. I just hope someone would get it sorted this next day or two.

[TANGODANCER]

"Basran has provisionally agreed a £27 million purchase but they found extras and other financial snags that made them draw back." Alan Nixon article...

Was always a factor to be wondered about. This business with Eddie Davis's family and what they claim the are owed in addition to the £5 million is worrying. Not over yet by a fair way for me.

[nicholaldo]

The point is, Ken is first in the queue... And he doesn't take pence in the pound....
He can wait till forever and still be secure.

First after football creditors...if there are any....

He is a football creditor, or so he claims... See his remarks to Mr Vince

I haven’t researched it thoroughly but the quote I’ve seen from Dale Vince - and thus a second-hand quote from an axe-grinder - is “secured lender”

I can no longer find the exact article, but my memory is crystal clear that Ken was claiming to be a football creditor. Whether or not he was/is correct is another matter. But I believe that he believes that he is - hence his devil may care brinkmanship with HMRC, because they definitely are not...

If I knew how to post it I would post the video but the direct quote from Vince was "You can seek a winding-up petition, you can bankrupt the club, I don't care I'm a secured lender. I'll get my money back and you'll get 10p in the pound." My limited understanding is that football creditors are literally just the players (and possibly the clubs). I think they used to be covered by the FA/EFL/PFA but I don't know if they are nowadays.

If Ken is a secured lender, I expect that he's not the only one and so I'm not sure that we would actually have enough assets to sell to allow us to pay him and the others what they're owed.

[nicholaldo]

For what it's worth, Nixon is now tweeting that he thinks we'll have a new owner by the end of the week.

[Dave Sutton's barnet]

Perfectly aware that I'm reading tea-leaves here but Iles has just tweeted "Thought for the evening: The darkest hour is just before dawn. Keep the faith, folks. Night, night" and Nixon, in his usual mixture of gnomic and garrulous, has been making far more positive noises:
"One way or another I think there’s a new owner by end of week. But what happens between now and then going to be quite a watch."
"the ticking clock has focused minds. And got a few thinking on feet."
"It goes full scale Game of Thrones probably tomorrow. Real intrigue afoot."
"There will be a new owner very soon the way it’s shaping"
"Think they find a way for game to go ahead. Real intrigue lies elsewhere. Get the popcorn."
("Do you think there will be a deal rather than admin?") "Yes"

As ever, apply as much salt as you like, but it sounds like tomorrow might be one to watch...

[TKIZ!]

If Kenyon is involved in a consortium to buy the club, Jorge Mendes won't be far behind.

[BWFC_Insane]

The point is, Ken is first in the queue... And he doesn't take pence in the pound....
He can wait till forever and still be secure.

First after football creditors...if there are any....

He is a football creditor, or so he claims... See his remarks to Mr Vince

No. He described himself as a secured lender.

Football creditor is limited to players, agents, registered league clubs and the league/FA itself.

Its an internal football rule. Ken cannot be a football creditor.

He would be paid after any outstanding football debts are paid.

[bristol_Wanderer3]

So it is all eerily quiet. The current situation seems to be as follows:

- We are three hours away from a meeting of the Safety Advisory Group (club, council, emergency services) which could decide not to issue a safety certificate for Saturday's game, and so we would have to postpone the game. Problem is no guarantee of key staff being available for the game given non-payment of matchday staff.
- The club have "provided assurances" they will get it sorted, but there seems to be a lot of doubt about that, given the state of things around the club.
- Not clear at the moment what the penalty is for postponement. Obviously deep embarrassment, possible points deduction.
- Heathcote's (caterers) demanding their bill be paid or they will "withdraw all services".
- Basran / Brittan still interested but negotiations stalled.
- New interest from local person(s) backed by Bahrain money.
- Rumours that a Peter Kenyon led consortium might be interested but this seems uncertain at the moment.

Anything else to add?

[Dave Sutton's barnet]

So it is all eerily quiet. The current situation seems to be as follows:

- We are three hours away from a meeting of the Safety Advisory Group (club, council, emergency services) which could decide not to issue a safety certificate for Saturday's game, and so we would have to postpone the game. Problem is no guarantee of key staff being available for the game given non-payment of matchday staff.
- The club have "provided assurances" they will get it sorted, but there seems to be a lot of doubt about that, given the state of things around the club.
- Not clear at the moment what the penalty is for postponement. Obviously deep embarrassment, possible points deduction.
- Heathcote's (caterers) demanding their bill be paid or they will "withdraw all services".
- Basran / Brittan still interested but negotiations stalled.
- New interest from local person(s) backed by Bahrain money.
- Rumours that a Peter Kenyon led consortium might be interested but this seems uncertain at the moment.

Anything else to add?

Not really, but FWIW, Nixon's dangling things:
* "Progress on game going ahead. Should be sorted. Ownership battle taking some interesting twists. Many ways to skin a "
* "Kenyon in. Arab lot been mentioned on and off for some time."
* "[Basran] Never really been away."
* "You will see the next move soon."

[Prufrock]

The point is, Ken is first in the queue... And he doesn't take pence in the pound....
He can wait till forever and still be secure.

First after football creditors...if there are any....

He is a football creditor, or so he claims... See his remarks to Mr Vince

No. He described himself as a secured lender.

Football creditor is limited to players, agents, registered league clubs and the league/FA itself.

Its an internal football rule. Ken cannot be a football creditor.

He would be paid after any outstanding football debts are paid.

Football creditors' rule only applies to central funds not yet paid by the league. So we wouldn't receive any e.g. TV/prize money till football creditors paid in full (and I *think* FL wouldn't sanction any take-over until we had done so). Doesn't affect rights of secured creditors to any assets they have security over.

[Dave Sutton's barnet]

we wouldn't receive any e.g. TV/prize money till football creditors paid in full (and I *think* FL wouldn't sanction any take-over until we had done so)

I don't know, but this sounds odd. I can imagine they'd want proof of funding etc and a signed commitment to pay back, but actually squaring off debts up-front might in some cases be beyond buyers who might well be able to able to pay back in sensible instalments; such a veto would leave the club in limbo.

Ken/Deano didn't pay all our debts when they took over - but then the debts weren't to Real Football Men.

[Prufrock]

Aye that might well be right. I think the point is a new owner couldn't just say "ah you pay them as and when the TV money comes in".

[Dave Sutton's barnet]

Iles in BN: Sources say wages will be paid and (some) bills settled, so the game is afoot...

https://www.theboltonnews.co.uk/sport/1 ... -on-wages/

Sources at the club have told The Bolton News that February salaries owed to both full-time and part-time employees will be paid over the next few days.

Bills owed to the emergency services will be cleared today – which is likely to mean Bolton Council will give the go-ahead for this weekend’s Championship game against Millwall to take place.

But who's paying, and why?

[TonyDomingos]

Great news. I can only assume Kenny has had a Damascian conversion!

[Dave Sutton's barnet]

Great news. I can only assume Kenny has had a Damascian conversion!

Iles: "I think Ken Anderson has paid this bill - question is, what assurances did he get for putting the money in? And from whom?"

Meanwhile, from @BWFC_tickets (official) to a punter: "Hi Chris. A statement will be published on http://bwfc.co.uk later on this afternoon, with regards to Direct Debit payments for the month of March."

[BWFC_Insane]

Great news. I can only assume Kenny has had a Damascian conversion!

Iles: "I think Ken Anderson has paid this bill - question is, what assurances did he get for putting the money in? And from whom?"

Meanwhile, from @BWFC_tickets (official) to a punter: "Hi Chris. A statement will be published on http://bwfc.co.uk later on this afternoon, with regards to Direct Debit payments for the month of March."

League were threatening a big fine should game be postponed which is probably why Ken has paid up. Hopefully it is also a sign that takeover has moved on.