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

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

Post by Lost Leopard Spot » Thu May 02, 2019 3:28 pm

I see our latest registered member is Cthulhu... He'll know what's going on: he probably crafted Anderson, Bassini and Harvey out of clay and his own semen.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Dave Sutton's barnet » Thu May 02, 2019 4:51 pm

Bassini via Iles and Talksport:

https://www.theboltonnews.co.uk/news/17 ... n-bassini/
Anderson tried to put the club into admin and because he did this it triggers off a default, like a breach. What that does is it carries a 12-point (deduction). They will go into the new season with the risk of losing 12 points.

There is also a situation where other clubs are owned money – I don’t know what embargoes and I have requested that information to know what embargoes we are going to be facing. And obviously last week, what happened with the players when they went on strike.

I don’t want to go into this with a 12-point deduction. I am not going to say we might as well sit in admin, but that’s where we’re are sitting at and if that’s the case, in a way, it’s better to go into admin because we’ll save £10million and that’s more to build on the club.

I need those assurances and I am ready to go. I have got the proof of funds in the format they needed it. I wanted to pay the wages for the players and the staff but I am not controlling the mandate.

The hotel did not need to close. I wanted to clear it up last week, in fact I insisted upon it. I had an extra £200,000 which could have paid all the staff but, no, he had to be stubborn. That is why this club is the way it is and somebody should have stepped in a long time to sort it out.

There are serious, serious problems there. You just don’t get the correct answers you should be getting.
Iles:
"[Bassini's] bid to buy the club has hit problems and he claims to have discovered an extra £14million of debt on top of that he was expecting when he agreed a deal with Ken Anderson in mid-April. It is understood that figure could be the future funding undertaking required by the EFL - who ask for potential buyers to provide a business plan for the next two years."

In other words, as Iles suggests in a tweet, "I think by 'debt' Laurence Bassini has found out that Wanderers lose about £7m a season - and that the EFL require proof of funds for two years."

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

Post by bristol_Wanderer3 » Thu May 02, 2019 5:22 pm

If it really is the £7m per season loss of revenue that Bassini is referring to, the fact he entered into an agreement to spend £20m-£50m two weeks before making this discovery should:

a.) Disqualify him from ever being involved in the running of a football club, due to mental unfitness, and
b.) Should see a dramatic increase in the number of emails to his inbox offering various items and structures for sale in respect of a tidy sum.

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

Post by Worthy4England » Thu May 02, 2019 6:07 pm

I don't get the bit about "tried to put it into Admin" - surely it's binary. You either do or you don't. If you don't, you haven't and there's no points deduction, if you do, you have and there is a points deduction?

You would think that a business the size of Bolton - which is a long way from "large", a £14m hole would have been fairly apparent...

The man's a fool.

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

Post by Lost Leopard Spot » Thu May 02, 2019 6:45 pm

He's a tosspot, wanker and charlatan.
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Re: Red Hats and One-eyed Snakes - the ups and downs of new management.

Post by Dave Sutton's barnet » Thu May 02, 2019 6:50 pm

Worthy4England wrote:
Thu May 02, 2019 6:07 pm
I don't get the bit about "tried to put it into Admin" - surely it's binary. You either do or you don't. If you don't, you haven't and there's no points deduction, if you do, you have and there is a points deduction?

You would think that a business the size of Bolton - which is a long way from "large", a £14m hole would have been fairly apparent...

The man's a fool.
On the "admin" thing, I suspect he's just trying to throw shade. He's worked out that admin is likely, and that Ken has manoeuvred it so it's His Fault. So he's trying to avoid culpability.

On the £14m, it could be coincidence that those are the projected losses for the next two years. But it might not be. On the other hand, I dare say Loz wouldn't be the first to find skeletons: that's the impression from Basran. And I'd be unsurprised to find hidden debt if I were buying so much as a ice-cream stall from Anderson, let alone a collapsed club in a precarious sport and more specifically a particularly preposterous division of almost uniform fiscal overspend, almost all funded by owners.
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On your final point: agreed. I'd still rather him own the club than Anderson, but I'd be fearful if he owned it for more than a week. And as I said earlier, admin might be worth it if it's the safest method of Kenectomy.

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

Post by officer_dibble » Thu May 02, 2019 9:01 pm

https://bit.ly/2Y31tIs

Bullet dodged?
All part of a game?
Admin looming?

What the actual feck happens now?

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

Post by Worthy4England » Thu May 02, 2019 9:03 pm

I'm not sure where the £14m being the operating losses has come from (other than t'interweb). We lost £5m last go in L1 excl player trading, which included pay-off to Holdsworth and other directors etc. Since which we've reduced our squad costs further?

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

Post by DJBlu » Thu May 02, 2019 9:08 pm

officer_dibble wrote:
Thu May 02, 2019 9:01 pm
https://bit.ly/2Y31tIs

Bullet dodged?
All part of a game?
Admin looming?

What the actual feck happens now?
Cynic in me thinks this is all the plan of Ken Anderson.

Allow a man who has no clear way of paying for the club speak for long enough to adjourn the court a couple of times, give excuses as to why salaries have been missed.

I am happy that Bassini has been told thanks but no thanks however what this means is administration or liquidation.

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

Post by TKIZ! » Thu May 02, 2019 9:11 pm

Keep it quiet but the Goal Machine may also get us a further injection of cash in the summer. Sheffield Utd looking to buy him. Didn't Ken talk about inserting clauses into all sold players contracts?
Pfffft.

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

Post by Mar » Thu May 02, 2019 9:19 pm

DJBlu wrote:
Thu May 02, 2019 9:08 pm
officer_dibble wrote:
Thu May 02, 2019 9:01 pm
https://bit.ly/2Y31tIs

Bullet dodged?
All part of a game?
Admin looming?

What the actual feck happens now?
Cynic in me thinks this is all the plan of Ken Anderson.

Allow a man who has no clear way of paying for the club speak for long enough to adjourn the court a couple of times, give excuses as to why salaries have been missed.

I am happy that Bassini has been told thanks but no thanks however what this means is administration or liquidation.
My thoughts exactly.

Play everyone for fools in the vein hope that he can drag it out till the end of the season.

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

Post by Worthy4England » Thu May 02, 2019 9:21 pm

Wouldn't be any surprise if the next couple of Club Statements weren't written three weeks ago...

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

Post by TKIZ! » Thu May 02, 2019 9:22 pm

Mar wrote:
Thu May 02, 2019 9:19 pm
DJBlu wrote:
Thu May 02, 2019 9:08 pm
officer_dibble wrote:
Thu May 02, 2019 9:01 pm
https://bit.ly/2Y31tIs

Bullet dodged?
All part of a game?
Admin looming?

What the actual feck happens now?
Cynic in me thinks this is all the plan of Ken Anderson.

Allow a man who has no clear way of paying for the club speak for long enough to adjourn the court a couple of times, give excuses as to why salaries have been missed.

I am happy that Bassini has been told thanks but no thanks however what this means is administration or liquidation.
My thoughts exactly.

Play everyone for fools in the vein hope that he can drag it out till the end of the season.
Ken got exactly what he wanted and a shedload of money to boot
Pfffft.

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

Post by officer_dibble » Thu May 02, 2019 9:42 pm

It wouldn’t surprise me if Ken’s taken a cut back from Harvey to keep a lid on it before the season ended.

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

Post by bristol_Wanderer3 » Thu May 02, 2019 10:00 pm

I agree with the posts above. Ken saw Bassini was a gullible fool and used him knowing if he miraculously produced the goods then KA would still have equity in the club and could control him, and if he didn't he probably had an arrangement with him for looking at the books and the process of making the bid. And the media heat was taken off Anderson as the club continued to not pay staff wages or it's bills.

Nixon is also suggesting that the contract with Bassini creates confusion as to who can put the club into admin. Imho, liquidation has always been Ken's most profitable and preferred option, even if it comes with unwanted media and legal attention. It still looks tough for him to get there, but it wouldn't surprise me if he lets it go to the May 8th hearing, with the Brentford game a convenient excuse.

We really need Michael James with Moonshift (share recall option) and any decent parties interested in buying to shoot out the tyres asap, coz that cliff edge is close.

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

Post by Dave Sutton's barnet » Thu May 02, 2019 10:55 pm

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

Post by Dave Sutton's barnet » Thu May 02, 2019 11:00 pm

Iles: "Anderson has looked into administration before but it is understood the contract he entered into with Bassini could prevent him from pressing ahead without legal challenges."

https://www.theboltonnews.co.uk/sport/1 ... eover-bid/

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

Post by Jakerbeef » Fri May 03, 2019 10:40 am

Checkmate. All according to plan. :?

Wouldnt be surprised if the two buggers were in cahoots.

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

Post by Dave Sutton's barnet » Fri May 03, 2019 11:46 am

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