Administration and recovery

Where fellow sufferers gather to share the pain, longing and unrequited transfer requests that make being a Wanderer what it is...

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Re: Administration and recovery

Post by BWFC_Insane » Tue May 28, 2019 2:29 pm

nelson66 wrote:
Tue May 28, 2019 11:59 am
I wonder if Stelios will be throwing his hat in the ring again ?


https://www.theboltonnews.co.uk/sport/1 ... -takeover/

Still has a home in the area too
Failed the EFL test for source and origin of funds. So I doubt it...

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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed May 29, 2019 12:40 pm


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Re: Administration and recovery

Post by Lost Leopard Spot » Wed May 29, 2019 1:42 pm

Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
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Re: Administration and recovery

Post by BWFC_Insane » Wed May 29, 2019 2:51 pm

Lost Leopard Spot wrote:
Wed May 29, 2019 1:42 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
£25K is small change to the sorts of people/groups who will be able to buy and run us properly.....

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Re: Administration and recovery

Post by Lost Leopard Spot » Wed May 29, 2019 2:54 pm

BWFC_Insane wrote:
Wed May 29, 2019 2:51 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 1:42 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
£25K is small change to the sorts of people/groups who will be able to buy and run us properly.....
And they were buzzing around like flies previously... :roll:
Anybody who has £25000 as small change wouldn't have £25000 as small change if they just threw away £25000 as small change on a fxcking whim...
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Re: Administration and recovery

Post by BWFC_Insane » Wed May 29, 2019 2:59 pm

Lost Leopard Spot wrote:
Wed May 29, 2019 2:54 pm
BWFC_Insane wrote:
Wed May 29, 2019 2:51 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 1:42 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
£25K is small change to the sorts of people/groups who will be able to buy and run us properly.....
And they were buzzing around like flies previously... :roll:
Anybody who has £25000 as small change wouldn't have £25000 as small change if they just threw away £25000 as small change on a fxcking whim...
There were lots of people interested in buying us - didn't Anderson claim 50? We'll find out who if any were serious.

But it could be that Ken himself and the mess surrounding the club was the barrier to many getting serious....

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Re: Administration and recovery

Post by Lost Leopard Spot » Wed May 29, 2019 3:04 pm

BWFC_Insane wrote:
Wed May 29, 2019 2:59 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 2:54 pm
BWFC_Insane wrote:
Wed May 29, 2019 2:51 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 1:42 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
£25K is small change to the sorts of people/groups who will be able to buy and run us properly.....
And they were buzzing around like flies previously... :roll:
Anybody who has £25000 as small change wouldn't have £25000 as small change if they just threw away £25000 as small change on a fxcking whim...
There were lots of people interested in buying us - didn't Anderson claim 50? We'll find out who if any were serious.

But it could be that Ken himself and the mess surrounding the club was the barrier to many getting serious....
Look, if you believe that five parties have parted with £25000 just to look at our books, fine. You believe what you want. I doubt it. I'm not going to undoubt it because Ken Anderson claimed something, if Ken Anderson claimed Venus was more habitable than Earth would you be quoting him? Who gives a toss what Ken Anderson claimed?
In fact, seriously, who gives a fxck what Nixon claims?
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Re: Administration and recovery

Post by BWFC_Insane » Wed May 29, 2019 3:26 pm

Lost Leopard Spot wrote:
Wed May 29, 2019 3:04 pm
BWFC_Insane wrote:
Wed May 29, 2019 2:59 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 2:54 pm
BWFC_Insane wrote:
Wed May 29, 2019 2:51 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 1:42 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 12:40 pm
I believe him, I really do... :roll:
I mean it's only £25000. My mum was asking if she could just have a really quick skank if she gave me ten quid towards my own thorough investigation...
£25K is small change to the sorts of people/groups who will be able to buy and run us properly.....
And they were buzzing around like flies previously... :roll:
Anybody who has £25000 as small change wouldn't have £25000 as small change if they just threw away £25000 as small change on a fxcking whim...
There were lots of people interested in buying us - didn't Anderson claim 50? We'll find out who if any were serious.

But it could be that Ken himself and the mess surrounding the club was the barrier to many getting serious....
Look, if you believe that five parties have parted with £25000 just to look at our books, fine. You believe what you want. I doubt it. I'm not going to undoubt it because Ken Anderson claimed something, if Ken Anderson claimed Venus was more habitable than Earth would you be quoting him? Who gives a toss what Ken Anderson claimed?
In fact, seriously, who gives a fxck what Nixon claims?
Nixon is well informed in my opinion. Whether he knows exactly how many or not have paid the money - I don't know. I'm sure people claim to. Probably impossible to verify for sure.

I'm fairly sure there must be pretty serious interest given the way the administrators have acted.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed May 29, 2019 4:20 pm

Nixon is far from infallible but his information is often intriguing and frequently the starting point for discussion, which is what the site's about. Sorry, Spotty, but until he's continuously proven wrong I'll keep quoting him.

For the record, I also believe that if you're thinking of spending £25m on a club, you'd spend £25k to see the finances first. These people may be fantasists or speculators, but in the scheme of it, spending 0.1% of the asking price to check the books has to be worth it.

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Re: Administration and recovery

Post by Lost Leopard Spot » Wed May 29, 2019 4:32 pm

Dave Sutton's barnet wrote:
Wed May 29, 2019 4:20 pm
Nixon is far from infallible but his information is often intriguing and frequently the starting point for discussion, which is what the site's about. Sorry, Spotty, but until he's continuously proven wrong I'll keep quoting him.

For the record, I also believe that if you're thinking of spending £25m on a club, you'd spend £25k to see the finances first. These people may be fantasists or speculators, but in the scheme of it, spending 0.1% of the asking price to check the books has to be worth it.
Whoah, who am I, the official censor?
You quote him, fine. I'm allowed to doubt him, fine.

As for the second part, that's where it falls down. It's the reason why you need to put a deposit down to stand in a democratic election. You might lose your deposit, but you are serious about it, except those (like Lord Toby Jug) who aren't so serious about it.
BUT, the Lord Toby Jugs of this world want you to know about them. They wouldn't be silent about spending £25000 on a vanity project.
Hence, according to Nixon, we have FIVE serious players in the market.

And I still say bullshit. We struggled to get one serious player and a Lord Toby Jug, how come suddenly we have five proper contenders and no Toby Jugs?????
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Re: Administration and recovery

Post by Dave Sutton's barnet » Wed May 29, 2019 4:41 pm

Lost Leopard Spot wrote:
Wed May 29, 2019 4:32 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 4:20 pm
...if you're thinking of spending £25m on a club, you'd spend £25k to see the finances first. These people may be fantasists or speculators, but in the scheme of it, spending 0.1% of the asking price to check the books has to be worth it.
...that's where it falls down. It's the reason why you need to put a deposit down to stand in a democratic election. You might lose your deposit, but you are serious about it, except those (like Lord Toby Jug) who aren't so serious about it.
BUT, the Lord Toby Jugs of this world want you to know about them. They wouldn't be silent about spending £25000 on a vanity project.
Hence, according to Nixon, we have FIVE serious players in the market.

And I still say bullshit. We struggled to get one serious player and a Lord Toby Jug, how come suddenly we have five proper contenders and no Toby Jugs?????
But they don't get their Lord Buckethead moment in the spotlight, because this ain't the administrator's first rodeo. Hence, as reported at https://www.bwfc.co.uk/news/2019/may/st ... wanderers/ :
Potential purchasers must also sign a Non-Disclosure Agreement for the duration of the sale process.


It's perfectly possible, for example, that Bassini is one of the five, but he can't say anything about it. Good. If anybody wants to pay £25,000 in order to not get publicity until after someone else has bought it, that's fine by me.

On that same link, administrator Appleton says he'd had 30 enquiries. Why would they not get involved before? Two reasons. One is that admin can be cheaper in that debts are negotiated down (and by someone else). Two is you don't have to deal with Ken Anderson.

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Re: Administration and recovery

Post by Lost Leopard Spot » Wed May 29, 2019 4:53 pm

Dave Sutton's barnet wrote:
Wed May 29, 2019 4:41 pm
Lost Leopard Spot wrote:
Wed May 29, 2019 4:32 pm
Dave Sutton's barnet wrote:
Wed May 29, 2019 4:20 pm
...if you're thinking of spending £25m on a club, you'd spend £25k to see the finances first. These people may be fantasists or speculators, but in the scheme of it, spending 0.1% of the asking price to check the books has to be worth it.
...that's where it falls down. It's the reason why you need to put a deposit down to stand in a democratic election. You might lose your deposit, but you are serious about it, except those (like Lord Toby Jug) who aren't so serious about it.
BUT, the Lord Toby Jugs of this world want you to know about them. They wouldn't be silent about spending £25000 on a vanity project.
Hence, according to Nixon, we have FIVE serious players in the market.

And I still say bullshit. We struggled to get one serious player and a Lord Toby Jug, how come suddenly we have five proper contenders and no Toby Jugs?????
But they don't get their Lord Buckethead moment in the spotlight, because this ain't the administrator's first rodeo. Hence, as reported at https://www.bwfc.co.uk/news/2019/may/st ... wanderers/ :
Potential purchasers must also sign a Non-Disclosure Agreement for the duration of the sale process.


It's perfectly possible, for example, that Bassini is one of the five, but he can't say anything about it. Good. If anybody wants to pay £25,000 in order to not get publicity until after someone else has bought it, that's fine by me.

On that same link, administrator Appleton says he'd had 30 enquiries. Why would they not get involved before? Two reasons. One is that admin can be cheaper in that debts are negotiated down (and by someone else). Two is you don't have to deal with Ken Anderson.
All of your points I agree with.
Our point of difference, seemingly, is that you agree that Nixon is correct when he says five enterprises have paid the dosh, and I say I very very very much doubt that. Unless you are the administrator I think we can agree to disagree on this point.
After all it's quality not quantity that will make the difference, so it doesn't really matter anyway.
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Re: Administration and recovery

Post by Harry Genshaw » Wed May 29, 2019 8:43 pm

Will the £100k of the 4 unsuccessful bidders go into the club funds/administrator's fees? Chicken feed I know but helps pay the last of our obligations to Ben Amos
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Re: Administration and recovery

Post by Lost Leopard Spot » Thu May 30, 2019 12:17 pm

Harry Genshaw wrote:
Wed May 29, 2019 8:43 pm
Will the £100k of the 4 unsuccessful bidders go into the club funds/administrator's fees? Chicken feed I know but helps pay the last of our obligations to Ben Amos
It's both and neither. The administrator takes their fee. Wherever it comes from they don't care, they still get paid.
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Re: Administration and recovery

Post by BWFC_Insane » Thu May 30, 2019 2:02 pm

@BBCRMsport
Spokesman for the #BWFC administrators tells @BBCRadioManc:

🕓 Deadline for bids = June 7th at 4pm
👍 'Decent' level of bids received
💷 Each bid must put down a £25,000 non-refundable deposit & show proof of funds
💰 £25m to purchase club & clear debt of both club & hotel
"bids received"

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Re: Administration and recovery

Post by TANGODANCER » Thu May 30, 2019 6:57 pm

BWFC_Insane wrote:
Thu May 30, 2019 2:02 pm
@BBCRMsport
Spokesman for the #BWFC administrators tells @BBCRadioManc:

🕓 Deadline for bids = June 7th at 4pm
👍 'Decent' level of bids received
💷 Each bid must put down a £25,000 non-refundable deposit & show proof of funds
💰 £25m to purchase club & clear debt of both club & hotel
"bids received"
They'd better start seeing some revenue coming through the turnstiles pretty quick; players to buy, pay and feed etc.. Let's hope we get somebody who can carry that. Season ticket sales are going to depend on what the punters see happening.
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Re: Administration and recovery

Post by Dujon » Fri May 31, 2019 1:49 am

I'm puzzled by the situation in which we now find ourselves.

If the EFL still penalises the club for its past fiscal demeanour (i.e. its previous owners) why should that devolve to a new owner who has satisfied all debts, including the tax man, and shown the ability to now support the financial part of the club's activities? After all, if I buy a second hand car, even if it's a banger, then I don't inherit the previous owner's demerit points and fines, or even suspension or cancellation. Likewise, should I buy a business that is failing and in debt (as I have done) I pay the debts. That does not preclude me from purchasing new stock or participating in the sometimes devious world of commerce.
Maybe I'm 'out of the loop', but it sounds quite unjustified to me.

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Re: Administration and recovery

Post by Dave Sutton's barnet » Fri May 31, 2019 7:42 am

Dujon wrote:
Fri May 31, 2019 1:49 am
I'm puzzled by the situation in which we now find ourselves.

If the EFL still penalises the club for its past fiscal demeanour (i.e. its previous owners) why should that devolve to a new owner who has satisfied all debts, including the tax man, and shown the ability to now support the financial part of the club's activities? After all, if I buy a second hand car, even if it's a banger, then I don't inherit the previous owner's demerit points and fines, or even suspension or cancellation. Likewise, should I buy a business that is failing and in debt (as I have done) I pay the debts. That does not preclude me from purchasing new stock or participating in the sometimes devious world of commerce.
Maybe I'm 'out of the loop', but it sounds quite unjustified to me.
Emotionally, I agree (and not just for selfish reasons: it’s a bar to those who might rescue any clubs in distress).

But I also see why they did it - to stop clubs doing what Leicester and Leeds did in the past, running up debts then shedding them via punishment-free bankruptcy.

I don’t know what the answer is but I do think the league have the right to impose a limited transfer embargo, in that they should have to approve new signings. However, the current blanket ban on paying fees (transfer or loan) seems a little punitive if clubs are back in working order.

Then again, I’m not a local business owed money, given small change as a sop, then forced to watch the club pay some herbert ten grand a week to argue about throw-ins.

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Re: Administration and recovery

Post by Lost Leopard Spot » Fri May 31, 2019 1:13 pm

Dave Sutton's barnet wrote:
Fri May 31, 2019 7:42 am
Dujon wrote:
Fri May 31, 2019 1:49 am
I'm puzzled by the situation in which we now find ourselves.

If the EFL still penalises the club for its past fiscal demeanour (i.e. its previous owners) why should that devolve to a new owner who has satisfied all debts, including the tax man, and shown the ability to now support the financial part of the club's activities? After all, if I buy a second hand car, even if it's a banger, then I don't inherit the previous owner's demerit points and fines, or even suspension or cancellation. Likewise, should I buy a business that is failing and in debt (as I have done) I pay the debts. That does not preclude me from purchasing new stock or participating in the sometimes devious world of commerce.
Maybe I'm 'out of the loop', but it sounds quite unjustified to me.
Emotionally, I agree (and not just for selfish reasons: it’s a bar to those who might rescue any clubs in distress).

But I also see why they did it - to stop clubs doing what Leicester and Leeds did in the past, running up debts then shedding them via punishment-free bankruptcy.

I don’t know what the answer is but I do think the league have the right to impose a limited transfer embargo, in that they should have to approve new signings. However, the current blanket ban on paying fees (transfer or loan) seems a little punitive if clubs are back in working order.

Then again, I’m not a local business owed money, given small change as a sop, then forced to watch the club pay some herbert ten grand a week to argue about throw-ins.
There are actually better, more technical, fairer, methods to stop defaulting back to cynical no blame bankruptcy strategies.

The EFL are as equally incompetent as the worst owners. And between the EFL, the bad owners, the greed of FIFA, UEFA and the PL, alongside the unsustainable business model that football has evolved into over the last twenty years or so, I'm amazed major football clubs haven't folded.
I wouldn't be surprised if we become the first of a new generation of properly folded clubs (I'm talking waaaaay beyond Accrington, Portsmouth, Rangers level...)
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Re: Administration and recovery

Post by piesrus » Fri May 31, 2019 1:30 pm

Lost Leopard Spot wrote:
Fri May 31, 2019 1:13 pm
Dave Sutton's barnet wrote:
Fri May 31, 2019 7:42 am
Dujon wrote:
Fri May 31, 2019 1:49 am
I'm puzzled by the situation in which we now find ourselves.

If the EFL still penalises the club for its past fiscal demeanour (i.e. its previous owners) why should that devolve to a new owner who has satisfied all debts, including the tax man, and shown the ability to now support the financial part of the club's activities? After all, if I buy a second hand car, even if it's a banger, then I don't inherit the previous owner's demerit points and fines, or even suspension or cancellation. Likewise, should I buy a business that is failing and in debt (as I have done) I pay the debts. That does not preclude me from purchasing new stock or participating in the sometimes devious world of commerce.
Maybe I'm 'out of the loop', but it sounds quite unjustified to me.
Emotionally, I agree (and not just for selfish reasons: it’s a bar to those who might rescue any clubs in distress).

But I also see why they did it - to stop clubs doing what Leicester and Leeds did in the past, running up debts then shedding them via punishment-free bankruptcy.

I don’t know what the answer is but I do think the league have the right to impose a limited transfer embargo, in that they should have to approve new signings. However, the current blanket ban on paying fees (transfer or loan) seems a little punitive if clubs are back in working order.

Then again, I’m not a local business owed money, given small change as a sop, then forced to watch the club pay some herbert ten grand a week to argue about throw-ins.
There are actually better, more technical, fairer, methods to stop defaulting back to cynical no blame bankruptcy strategies.

The EFL are as equally incompetent as the worst owners. And between the EFL, the bad owners, the greed of FIFA, UEFA and the PL, alongside the unsustainable business model that football has evolved into over the last twenty years or so, I'm amazed major football clubs haven't folded.
I wouldn't be surprised if we become the first of a new generation of properly folded clubs (I'm talking waaaaay beyond Accrington, Portsmouth, Rangers level...)
Bolton won't go under now; it will frighten the horses too much.
You missed the FA off your list; it is worth noting that City did attain a quadruple of sorts this season. They are under investigation by FIFA, UEFA, EPL and the FA. Once City deploy their legal team, expect all charges to disappear without a trace.

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