Administration and recovery

[Worthy4England]

Even allowing for one being Bassini; 5 proper bids is decent!

How d'you know one isn't Bassini and five are his friends and relatives?

You little ray of sunshine!

Yeh, coz we've alllllll been well served over the last few years, haven't we?
I think a little pessimism is healthy compared to a let's all clap hands and celebrate attitude. You can be my ray of sunshine if you want. You can pop from behind the clouds next Friday. If it's not pissing down.

I'm hopeful there aren't 6 Bassini associated bids so not many rungs further up the happiness ladder. It would be somewhat surprising after the previous two owners have tried to sell across a good few years, if the Admins had hit gold in 4 weeks, so it could be a case of best of a bad lot...

[Lost Leopard Spot]

Even allowing for one being Bassini; 5 proper bids is decent!

How d'you know one isn't Bassini and five are his friends and relatives?

You little ray of sunshine!

Yeh, coz we've alllllll been well served over the last few years, haven't we?
I think a little pessimism is healthy compared to a let's all clap hands and celebrate attitude. You can be my ray of sunshine if you want. You can pop from behind the clouds next Friday. If it's not pissing down.

I'm hopeful there aren't 6 Bassini associated bids so not many rungs further up the happiness ladder. It would be somewhat surprising after the previous two owners have tried to sell across a good few years, if the Admins had hit gold in 4 weeks, so it could be a case of best of a bad lot...

Exactly. If neither Eddie nor Ken Kong could sell, either reports of pure gold out there are overly optimistic, or the barriers have been lowered so much that nobody can realistically predict the shape of a new owner.
I live in hope but am quite prepared for reality to dash my hopes to smithereens.
Either way, come Saturday, unless in the meantime I'm hit by a bus, or Ebola, I'll still be alive. So chin up.

[Branagan]

Any chance we can give these administrators a place on the board? Obviously the final hurdle is coming out the other side with a decent buyer. But, so far, everything has been so quick and professionally communicated it doesn't feel like I'm reading about BWFC.

[Lost Leopard Spot]

Any chance we can give these administrators a place on the board? Obviously the final hurdle is coming out the other side with a decent buyer. But, so far, everything has been so quick and professionally communicated it doesn't feel like I'm reading about BWFC.

I believe that may well be your optimism filters kicking in!
What precisely, and I mean this as a guenuine question, has been 'professionally communicated' to you so far by the administrators?

[nicholaldo]

1. The notification of the appointment, advising who appointed them and why
2. Confirmation of the payment of wages to club staff, with detail as to when the payments will be made and the date from which they will be backdated
3. The announcement that the club is now being actively marketed, including the name of the agent instructed to manage the sale process and the terms, or minimum requirements, of a sale that interested buyers will have to meet, as well as the date of the deadline

They've not necessarily been more professional in their public statements than any other administrator would be, and I expect that it's just a reflection on us having got used to the utter amateurishness that preceeded them, but still, that's not bad going in less than a calendar month.

[Branagan]

What Nicholaldo said. They've communicated just about everything they're legally allowed to and made good headway within weeks. Honestly Leopard matey, just because Ken's gone now, doesn't mean that the admins need to become new enemy straight away. There'll be plenty of candidates in the months and years to come I'm sure.

And, just in case there was any doubt, I don't actually think they should be given a place on the board. Just saying, during a still very (VERY, Leopard) dark time, it's nice to have some relative (RELATIVE, Leopard) speed and decisiveness. And yes, the final crucial decision is yet to be made.

[TANGODANCER]

No secret that we need a totally fresh start, but some incentive, speculation and love of football in a new owner is what could separate us from being just another pie shop in a row of them (even if we are out of the town centre somewhat) . K.A and the other contender so far are both known as out and out money grabbers probably influenced by the fancy location, bragging rights of owning a football club to park their Rolls outside and visions of cash print works churning out the numbers. It's going to be an uphill climb the at makes Everest seem like Rivington Pike right now. As much as anything, we need some "luck" all round and some patience.

[Lost Leopard Spot]

What Nicholaldo said. They've communicated just about everything they're legally allowed to and made good headway within weeks. Honestly Leopard matey, just because Ken's gone now, doesn't mean that the admins need to become new enemy straight away. There'll be plenty of candidates in the months and years to come I'm sure.

And, just in case there was any doubt, I don't actually think they should be given a place on the board. Just saying, during a still very (VERY, Leopard) dark time, it's nice to have some relative (RELATIVE, Leopard) speed and decisiveness. And yes, the final crucial decision is yet to be made.

Fairy'nuff (NUFF).

[Branagan]

You're alright you are LLS.

[Lost Leopard Spot]

You're alright you are LLS.

You're alright yourself. Do I swipe right or left, I can never remember.

[Worthy4England]

Even allowing for one being Bassini; 5 proper bids is decent!

How d'you know one isn't Bassini and five are his friends and relatives?

You little ray of sunshine!

Yeh, coz we've alllllll been well served over the last few years, haven't we?
I think a little pessimism is healthy compared to a let's all clap hands and celebrate attitude. You can be my ray of sunshine if you want. You can pop from behind the clouds next Friday. If it's not pissing down.

I'm hopeful there aren't 6 Bassini associated bids so not many rungs further up the happiness ladder. It would be somewhat surprising after the previous two owners have tried to sell across a good few years, if the Admins had hit gold in 4 weeks, so it could be a case of best of a bad lot...

Nobody can realistically predict the shape of a new owner.

Well, If it's one of your 6 Bassini bids...

[Lost Leopard Spot]

Even allowing for one being Bassini; 5 proper bids is decent!

How d'you know one isn't Bassini and five are his friends and relatives?

You little ray of sunshine!

Yeh, coz we've alllllll been well served over the last few years, haven't we?
I think a little pessimism is healthy compared to a let's all clap hands and celebrate attitude. You can be my ray of sunshine if you want. You can pop from behind the clouds next Friday. If it's not pissing down.

I'm hopeful there aren't 6 Bassini associated bids so not many rungs further up the happiness ladder. It would be somewhat surprising after the previous two owners have tried to sell across a good few years, if the Admins had hit gold in 4 weeks, so it could be a case of best of a bad lot...

Nobody can realistically predict the shape of a new owner.

Well, If it's one of your 6 Bassini bids...

Ok, pear shaped is odds on.

[TonyDomingos]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Paul Appleton of David Rubin & Partners said: "We have made it clear from the outset of this process that speed is of the essence. A new owner has to be identified and in place to allow the club to rebuild ahead of the new season.

"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

[Dave Sutton's barnet]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Feels like there should be some dramatic music and a tearful exit interview.

[TonyDomingos]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Feels like there should be some dramatic music and a tearful exit interview.

I was thinking more along the lines of a sad faced clown walking off into the sunset to the strains of wah-wah-wah.

[bristol_Wanderer3]

This is BWFC. Therefore the five applicants are clearly going to be:

1.) Owen Oyston and members of his family still talking to him.
2.) Ken Anderson possibly backed by a transnational crime organization.
3.) Laurence Bassini using discount on his rent and proceeds from a range of cunning plans.
4.) Roger Allanson wth a cast from the Supporters Trust.
5.) Bernie Madoff represented by family as he finds it difficult to leave the house.

[nicholaldo]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Paul Appleton of David Rubin & Partners said: "We have made it clear from the outset of this process that speed is of the essence. A new owner has to be identified and in place to allow the club to rebuild ahead of the new season.

"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

Is there a hint of frustration in that last paragraph or am I just being paranoid?

[TonyDomingos]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Paul Appleton of David Rubin & Partners said: "We have made it clear from the outset of this process that speed is of the essence. A new owner has to be identified and in place to allow the club to rebuild ahead of the new season.

"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

Is there a hint of frustration in that last paragraph or am I just being paranoid?

I read it as the admins simply making it clear to the bidders that there's no time for arsing around. And saying it publicly to show they are being serious in saying that.

I think it's precautionary rather than because they actually believe one of the bidders will try enter into protracted negotiations if their bid is judged to be the best. Of course, it's all supposition on my part.

[Worthy4England]

And then there were five ....

The Joint Administrators for Bolton Wanderers have set a deadline of 4pm on Wednesday 12 June for best and final offers for the club.

Six potential bidders for the club met last week's deadline for offers for the club. However, after almost 72 hours of investigation, one of those bidders has been eliminated from the process.

The remaining five candidates have now been asked to supply their final offers which will also include both proof and source of funding.

Paul Appleton of David Rubin & Partners said: "We have made it clear from the outset of this process that speed is of the essence. A new owner has to be identified and in place to allow the club to rebuild ahead of the new season.

"We will notify the successful bidder as soon after Wednesday's deadline as possible and will be looking for a Heads of Terms agreement to be signed by Friday.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

Is there a hint of frustration in that last paragraph or am I just being paranoid?

I read it as the admins simply making it clear to the bidders that there's no time for arsing around. And saying it publicly to show they are being serious in saying that.

I think it's precautionary rather than because they actually believe one of the bidders will try enter into protracted negotiations if their bid is judged to be the best. Of course, it's all supposition on my part.

I'd agree with that TD, it's quite possible given the timeframe that a couple didn't have all their shit together and asked for a week or two extension, too, whereas Admins are trying to get to BAFO by tomorrow.

[nelson66]

bit like an auction isnt it -- Wednesday afternoon will be going..... going... gone
If you haven't got your act together ... then tough luck

I wonder when an announcement will be made ?
On signing Heads Of Terms - this Friday ?