Red Hats and One-eyed Snakes - the ups and downs of new management.

[watfordfan]

I'm so sorry for Bolton that this guy is still hanging around, but I suspect he sees it as a chance to own a club again, and he sees you as an easy target right now, and this is his opportunity.

What I've read on this forum, it's clear nothing has changed with him. He will make and break promises at a drop of a red hat. He will say what you want to hear then fail to deliver. It was no surprise to hear him make promises that he will pay your running costs/player wages, then did nothing and your players had to go on strike.

Your current owner sounds terrible, but if you are bought by Bassini your problems will only get worse.

I saw him on SkySports showing how genuine he was by holding up a Bolton shirt with his name on it. That's probably the only funds he will put into the club I suspect, the price of the shirt. He looked a bit more sober than normal in the interview, but he's usually all over the place when he speaks.

He's not got £20m. The guy has been made bankrupt twice. He's a front man for someone, and that was the same when he was at Watford. But I have no idea why anyone with money would want Bassini as a credible face. His business profile is shrouded in secrecy and he will not tell anyone how he's made his money or what business he's in, so at least you could work out if the money source is credible or not.

Another thing I've picked up on, is that he's interested in a hotel as well? That sounds very familiar. He was all over the Red Lion pub, which sits outside the Vicarage Road ground. He just wanted to renovate that more than run the football club, hence the photo with the red hat. It was all a front and a way to take cash out of the club without too many questions. He spent over £1m on renovations and nothing was done. He said it was a lot of hidden unseen work, like plumbing. He said there will be a grand opening and it would be something for the fans. Yes, you guessed it, the pub never reopened while he was owner.

He also tried to take money directly from the club's safe for his own personal use, but this was flatly refused by a very conscientious club employee.

We were placed under a transfer embargo, because of more dodgy dealings of his. He approaches everything in such an amateur way and thinks everyone is stupid and can't see what he's up to. A child could work him out.

I personally think he has mental problems. Someone once told me he only wanted a football club as a status symbol, to prove he's a successful man to his father.

Now you've all seen how he operates, and what Watford fans were saying are not exaggerated.

It just annoys me, that this guy is able to get close to another good club and will ruin it. We survived him only by the skin of our teeth, as we had just a few hours before HMRC would have declared Watford bankrupt for an unpaid tax bill. We'd have had a big points deduction and relegation to League One. The Pozzo's saved us and now we're flying. I can only wish the same for Bolton Wanderers.

The problem we have is our current owner is doing his best to destroy us. And has run out of time to do anything other than put us into admin if he'll pay for it or let the court liquidate us.

If Bassini proves he has money to the EFL and pays the initial wages only that would at least buy us some time.

Of course that is IF he can even do that which seems highly doubtful.

This is being stuck between a rock and a hard place but many Bolton fans feel that Bassini might be better than Ken because he seems useless whereas Ken is vindictive.

I totally understand your predicament, and as always, it's the fans that suffer.

But, even though it sounds harsh, if your only options are Bassini or administration, then the latter is your best option. If he passes EFL test, then their test is not fit & proper in itself.

You say it will buy you time, but once he's got his foot in the door, he'll be very difficult to get rid of.....and believe me, you'll want rid very quickly.

I can only hope that Bassini fails the EFL test and somehow find a more credible owner to take you forward.

[BWFC_Insane]

I'm so sorry for Bolton that this guy is still hanging around, but I suspect he sees it as a chance to own a club again, and he sees you as an easy target right now, and this is his opportunity.

What I've read on this forum, it's clear nothing has changed with him. He will make and break promises at a drop of a red hat. He will say what you want to hear then fail to deliver. It was no surprise to hear him make promises that he will pay your running costs/player wages, then did nothing and your players had to go on strike.

Your current owner sounds terrible, but if you are bought by Bassini your problems will only get worse.

I saw him on SkySports showing how genuine he was by holding up a Bolton shirt with his name on it. That's probably the only funds he will put into the club I suspect, the price of the shirt. He looked a bit more sober than normal in the interview, but he's usually all over the place when he speaks.

He's not got £20m. The guy has been made bankrupt twice. He's a front man for someone, and that was the same when he was at Watford. But I have no idea why anyone with money would want Bassini as a credible face. His business profile is shrouded in secrecy and he will not tell anyone how he's made his money or what business he's in, so at least you could work out if the money source is credible or not.

Another thing I've picked up on, is that he's interested in a hotel as well? That sounds very familiar. He was all over the Red Lion pub, which sits outside the Vicarage Road ground. He just wanted to renovate that more than run the football club, hence the photo with the red hat. It was all a front and a way to take cash out of the club without too many questions. He spent over £1m on renovations and nothing was done. He said it was a lot of hidden unseen work, like plumbing. He said there will be a grand opening and it would be something for the fans. Yes, you guessed it, the pub never reopened while he was owner.

He also tried to take money directly from the club's safe for his own personal use, but this was flatly refused by a very conscientious club employee.

We were placed under a transfer embargo, because of more dodgy dealings of his. He approaches everything in such an amateur way and thinks everyone is stupid and can't see what he's up to. A child could work him out.

I personally think he has mental problems. Someone once told me he only wanted a football club as a status symbol, to prove he's a successful man to his father.

Now you've all seen how he operates, and what Watford fans were saying are not exaggerated.

It just annoys me, that this guy is able to get close to another good club and will ruin it. We survived him only by the skin of our teeth, as we had just a few hours before HMRC would have declared Watford bankrupt for an unpaid tax bill. We'd have had a big points deduction and relegation to League One. The Pozzo's saved us and now we're flying. I can only wish the same for Bolton Wanderers.

The problem we have is our current owner is doing his best to destroy us. And has run out of time to do anything other than put us into admin if he'll pay for it or let the court liquidate us.

If Bassini proves he has money to the EFL and pays the initial wages only that would at least buy us some time.

Of course that is IF he can even do that which seems highly doubtful.

This is being stuck between a rock and a hard place but many Bolton fans feel that Bassini might be better than Ken because he seems useless whereas Ken is vindictive.

I totally understand your predicament, and as always, it's the fans that suffer.

But, even though it sounds harsh, if your only options are Bassini or administration, then the latter is your best option. If he passes EFL test, then their test is not fit & proper in itself.

You say it will buy you time, but once he's got his foot in the door, he'll be very difficult to get rid of.....and believe me, you'll want rid very quickly.

I can only hope that Bassini fails the EFL test and somehow find a more credible owner to take you forward.

Of course. But we're out of time. And cost of getting us out of admin is higher than is comfortable. Plus someone will have to pay for administrators.

Its a mess and one that doesn't appear to have a neat resolution. Ken has proven very difficult to get rid of. I imagine Bassini will be the same. But the worry is we have to survive.

[Worthy4England]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

[BWFC_Insane]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

[TonyDomingos]

I'm going to go out on a limb: Bassini has no money, cannot get access to money and won't apply for the EFL test, let alone pass it.

There, I've said it.

[BWFC_Insane]

I'm going to go out on a limb: Bassini has no money, cannot get access to money and won't apply for the EFL test, let alone pass it.

There, I've said it.

He's meeting Harvey at 7pm today. Its really odd situation. If he had no money what's he trying to do? If its money laundering then he would have disappeared by now. If its some attention he's after then this isn't going how he'd want.

So what is it? He has access to some dodgy money that is real but unlikely to be acceptable to EFL?

[Hoboh]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

I told you ages ago Ken never had any intention of doing the right thing with the club merely lining his pocket, it appears you have yet again not thought things through in your rosy support for losers. First it was Gartside followed by support for a raft of dead leg managers then Ken, I'd best stick to BWFC matters on this thread but your track record ain't that clever.

[watfordfan]

I'm going to go out on a limb: Bassini has no money, cannot get access to money and won't apply for the EFL test, let alone pass it.

There, I've said it.

He's meeting Harvey at 7pm today. Its really odd situation. If he had no money what's he trying to do? If its money laundering then he would have disappeared by now. If its some attention he's after then this isn't going how he'd want.

So what is it? He has access to some dodgy money that is real but unlikely to be acceptable to EFL?

Something similar happened at Watford, when Bassini passed the "fit and proper" test. All he had to do was show he had money in his bank account to pass the test. The story goes, his account was suddenly funded with £6m a day before the meeting, so he had money in the account and that satisfied the EFL.

I hope the EFL test for prospective owners is more thorough than that, but that appears to be the only criteria that needs to be passed.

[BWFC_Insane]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

I told you ages ago Ken never had any intention of doing the right thing with the club merely lining his pocket, it appears you have yet again not thought things through in your rosy support for losers. First it was Gartside followed by support for a raft of dead leg managers then Ken, I'd best stick to BWFC matters on this thread but your track record ain't that clever.

What the hell are you on about? Gartside clearly made a lot of mistakes but his heart was in the right place. I think he did a good job an excellent job followed by a not very good job and he lost his way. But he did have a plan at least - unfortunately he never had time to see if it could work.

As for Ken I've been saying for absolute ages that he'd either have to sell or we'd end up in admin or worse...have you missed that?

Ken came in and did a job of sorting the costs out - but then its been clear for ages he's not sticking a pound of his own money in.

As for managers - if you recall - I was one of the very few on here who early on called Coyle out for the damage he'd do here. I was pilloried on here for that very thing. Funny how I was one of the very few who could see what was happening.

I know you're not the brightest bulb in the box - but do at least try dear boy.

[Hoboh]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

I told you ages ago Ken never had any intention of doing the right thing with the club merely lining his pocket, it appears you have yet again not thought things through in your rosy support for losers. First it was Gartside followed by support for a raft of dead leg managers then Ken, I'd best stick to BWFC matters on this thread but your track record ain't that clever.

What the hell are you on about? Gartside clearly made a lot of mistakes but his heart was in the right place. I think he did a good job an excellent job followed by a not very good job and he lost his way. But he did have a plan at least - unfortunately he never had time to see if it could work.

As for Ken I've been saying for absolute ages that he'd either have to sell or we'd end up in admin or worse...have you missed that?

Ken came in and did a job of sorting the costs out - but then its been clear for ages he's not sticking a pound of his own money in.

As for managers - if you recall - I was one of the very few on here who early on called Coyle out for the damage he'd do here. I was pilloried on here for that very thing. Funny how I was one of the very few who could see what was happening.

I know you're not the brightest bulb in the box - but do at least try dear boy.

Oh dear 40 watts calling someone else not very bright.
Which costs has Ken sorted exactly to most it appears he has not been paying them and the main reason there is a lack of buyers is hidden but slowly emerging liabilities

[BWFC_Insane]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

I told you ages ago Ken never had any intention of doing the right thing with the club merely lining his pocket, it appears you have yet again not thought things through in your rosy support for losers. First it was Gartside followed by support for a raft of dead leg managers then Ken, I'd best stick to BWFC matters on this thread but your track record ain't that clever.

What the hell are you on about? Gartside clearly made a lot of mistakes but his heart was in the right place. I think he did a good job an excellent job followed by a not very good job and he lost his way. But he did have a plan at least - unfortunately he never had time to see if it could work.

As for Ken I've been saying for absolute ages that he'd either have to sell or we'd end up in admin or worse...have you missed that?

Ken came in and did a job of sorting the costs out - but then its been clear for ages he's not sticking a pound of his own money in.

As for managers - if you recall - I was one of the very few on here who early on called Coyle out for the damage he'd do here. I was pilloried on here for that very thing. Funny how I was one of the very few who could see what was happening.

I know you're not the brightest bulb in the box - but do at least try dear boy.

Oh dear 40 watts calling someone else not very bright.
Which costs has Ken sorted exactly to most it appears he has not been paying them and the main reason there is a lack of buyers is hidden but slowly emerging liabilities

He reduced the wage bill and sold players to keep us going. That was always the plan. He couldn't sell the club. And clearly that is where it went wrong. And since selling Madine - clearly we've run out of players to sell and bills have piled up - no doubting that. And at no point have I been under any illusion that Ken was interested in BWFC in any way.

The problem is as we're seeing now - nobody with deep pockets and good intentions is either.

[Worthy4England]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

Well it would force one of three things - none of them new - (and none of them seem to be a scary as Bassini to me.)

1) Find yet another buyer. All hope was lost when Basran walked - we'd never find another one - and look! One turned up - roll those dice again.
2) Go Admin - which seemed to be the option Anderson was favouring the day he announced the deal with Bassini - might make it easier for a prospective buyer - let's be honest -12 next season is a minor inconvenience when weighed against the re-building that needs to be done
3) Liquidate - and hope someone with better interests of football club picks up the bits.

The third one isn't particularly a great option. But Bassini - is that really any better long term of just postponing the date?

[BWFC_Insane]

I think right now, I'd put my hopes in Bassini not passing OADT/FPP and hopefully being forced away from the table. Whilst that would leave us in limbo in terms of ownership, it might force hands.

Force them into what though? That scenario is ok if ultimately you think Ken will do the right thing by the club.

I don't see a savior out there. There may well be some groups waiting to buy us from admin but talk and action are very different in this scenario.

Well it would force one of three things - none of them new - (and none of them seem to be a scary as Bassini to me.)

1) Find yet another buyer. All hope was lost when Basran walked - we'd never find another one - and look! One turned up - roll those dice again.
2) Go Admin - which seemed to be the option Anderson was favouring the day he announced the deal with Bassini - might make it easier for a prospective buyer - let's be honest -12 next season is a minor inconvenience when weighed against the re-building that needs to be done
3) Liquidate - and hope someone with better interests of football club picks up the bits.

The third one isn't particularly a great option. But Bassini - is that really any better long term of just postponing the date?

1) Not sure there is time for that given games need to be arranged which means people need to be paid. Failure to fulfill fixtures - could lead to expulsion from league.
2) Yep - issue is the cost to bring out a league one team on -12 from admin is still high. And will Ken cooperate with administrators - he has a history of not doing so...
3) Expulsion from league. No guarantees of anything other than BWFC no longer existing.

Clearly if Bassini fails 1 is best but I suspect highly unlikely.

2 would probably be only option to avoid 3 but I still worry about how Ken might play this. In 2 - there are still a multitude of logistical problems that remain. And I suspect we'd be preparing this time next year for a league 2 campaign.

[Worthy4England]

Look on 1) If someone credible was promising to pay - I think the games would go ahead. That's not a shitload of time to resolve but there is time if parties are willing and if there are other interested parties (which we're not at all sure on, but rumour has it). Bassini has allegedly said he would pay players and it's not occurred - yet there are ways to protect both parties commercially, to allow this to happen. Let's say Bassini completes today/tomorrow on some basis - where do you see us with that clown in charge, in 12 months time? I think we're just postponing the date. (at which point the options are probably same as now)

2) The 12 points is inconsequential to the cost of bringing out of Admin. It costs no more nor less with or without a points deduction. As to Anderson's cooperation - if he wouldn't cooperate with the Administrator (who is effectively a temporary owner) then he probably isn't cooperating with Bassini either - he's just found a more gullible fool. Least of our worries is what Division we're in, in 12 months time. Of course it would be great if the £1bn backer walked into the room, but we know that isn't happening.

3) I guess depends on your viewpoint in respect of taking any muppet to run your Club. It's not a preferable option, and I don't think it will come to that.

[Dave Sutton's barnet]

2) The 12 points is inconsequential to the cost of bringing out of Admin. It costs no more nor less with or without a points deduction.

But surely it materially affects our chances of re-promotion and thus quite possibly our desirability to potential buyers.

[BWFC_Insane]

Look on 1) If someone credible was promising to pay - I think the games would go ahead. That's not a shitload of time to resolve but there is time if parties are willing and if there are other interested parties (which we're not at all sure on, but rumour has it). Bassini has allegedly said he would pay players and it's not occurred - yet there are ways to protect both parties commercially, to allow this to happen. Let's say Bassini completes today/tomorrow on some basis - where do you see us with that clown in charge, in 12 months time? I think we're just postponing the date. (at which point the options are probably same as now)

2) The 12 points is inconsequential to the cost of bringing out of Admin. It costs no more nor less with or without a points deduction. As to Anderson's cooperation - if he wouldn't cooperate with the Administrator (who is effectively a temporary owner) then he probably isn't cooperating with Bassini either - he's just found a more gullible fool. Least of our worries is what Division we're in, in 12 months time. Of course it would be great if the £1bn backer walked into the room, but we know that isn't happening.

3) I guess depends on your viewpoint in respect of taking any muppet to run your Club. It's not a preferable option, and I don't think it will come to that.

My point was that the cost of buying from administrators is not made favourable when you are buying a league one club starting on -12.

One might worry at what sort of owner we end up with in that scenario. Perhaps an honest one without the means to take us forward significantly.

[Worthy4England]

2) The 12 points is inconsequential to the cost of bringing out of Admin. It costs no more nor less with or without a points deduction.

But surely it materially affects our chances of re-promotion and thus quite possibly our desirability to potential buyers.

It does materially affect our chances of re-promotion. I'm not at all convinced that any potential buyers aren't aware of what they're letting themselves in for. Sorting out the cost base to get us to a more sustainable model will almost certainly be at the forefront.

Everyone expecting us to bounce back up with this squad then?

[Worthy4England]

One might worry at what sort of owner we end up with in that scenario. Perhaps an honest one without the means to take us forward significantly.

Look at Club Statement....

https://www.bwfc.co.uk/news/2019/april/club-statement4/

If you aren't already worried about what sort of owner we might be getting. Look no further.

The fact that we know this guy's track record doesn't enhance his bid....

[BWFC_Insane]

One might worry at what sort of owner we end up with in that scenario. Perhaps an honest one without the means to take us forward significantly.

Look at Club Statement....

https://www.bwfc.co.uk/news/2019/april/club-statement4/

If you aren't already worried about what sort of owner we might be getting. Look no further.

The fact that we know this guy's track record doesn't enhance his bid....

I get that. What we need is someone with cash. If the EFL could do their job properly we'd not be here in the first case. KA never delivered the investment promised. Yet was not held to account.

If Bassini can even clear short term debts - perhaps we can find our version of the Pozzos? I don't know.

I'd take admin if there was a guarantee of someone with deep pockets to take us on....absolutely. However whilst that has been the case for some clubs - others have never recovered properly....

[Dave Sutton's barnet]

2) The 12 points is inconsequential to the cost of bringing out of Admin. It costs no more nor less with or without a points deduction.

But surely it materially affects our chances of re-promotion and thus quite possibly our desirability to potential buyers.

It does materially affect our chances of re-promotion. I'm not at all convinced that any potential buyers aren't aware of what they're letting themselves in for. Sorting out the cost base to get us to a more sustainable model will almost certainly be at the forefront.

Everyone expecting us to bounce back up with this squad then?

Ha! I'm not expecting us to have this squad. Only half a dozen of them will still be contracted, and I can't see any way at all that the majority will be rehired - not if we get an owner too rich to want these deadlegs, not if we get an owner too poor to pay them. Maybe if we get a rich but sadistic owner who makes them play for eternity behind closed doors as a circus act...

I know all buyers (bar bonkpots) will be "aware of what they're letting themselves in for". What I'm saying is that the actuarial chances of the project "succeeding" financially will be severely limited by us starting on -12. That will surely be part of said "awareness", and could thus drive some away. It might be a price worth paying - to rid ourselves of Anderson and dreamers like Bassini - but I can't see it being irrelevant.