Administration and recovery

[Enoch]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

[Lost Leopard Spot]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

A one chord wonder. Doesn't even achieve the Status Quo.
Badum tish...

[TANGODANCER]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

A one chord wonder. Doesn't even achieve the Status Quo.
Badum tish...

Is Circularity those French trapeze and gymnastic lot..?

[Lost Leopard Spot]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

A one chord wonder. Doesn't even achieve the Status Quo.
Badum tish...

Is Circularity those French trapeze and gymnastic lot..?

That's Cirque du so Larity,

[Super Dave]

Hang on, my reading of the EFL statement is that they have until close of play TODAY to show that they can sort their shit out.

The way I read it was that the issuing of the 14 day notice was suspended until today.

[TonyDomingos]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

A one chord wonder. Doesn't even achieve the Status Quo.
Badum tish...

https://youtu.be/USKocNP6WIk

[BWFC_Insane]

Just want to point this out from Iles latest piece which is good news and that progress was made yesterday. However, inspite of Iles/Nixon saying "no chance of liquidation" this was always my understanding barring some intervention from elsewhere that would have been unexpected....

There is no question of the football club’s administrators, Rubin and Partners, taking the team into the new season, sanctioning contracts, season tickets or the like. In short, the alternatives available to FV and Quantuma were: Strike a deal, or the club goes bust.

https://www.theboltonnews.co.uk/sport/1 ... ompletion/

[Lost Leopard Spot]

This discussion is getting a bit...circular.

This circularity is nothing like the previous two circularities that have been discussed, so don't go off at a tangent.

I thought it struck a chord.

A one chord wonder. Doesn't even achieve the Status Quo.
Badum tish...

https://youtu.be/USKocNP6WIk

[Lost Leopard Spot]

Just want to point this out from Iles latest piece which is good news and that progress was made yesterday. However, inspite of Iles/Nixon saying "no chance of liquidation" this was always my understanding barring some intervention from elsewhere that would have been unexpected....

There is no question of the football club’s administrators, Rubin and Partners, taking the team into the new season, sanctioning contracts, season tickets or the like. In short, the alternatives available to FV and Quantuma were: Strike a deal, or the club goes bust.

https://www.theboltonnews.co.uk/sport/1 ... ompletion/

That entire article was more "nothing to see here, move along". Just to put us on notice that an announcement might be forthcoming about a deal being signed possibly next Wednesday. Yeah,

[LeverEnd]

Yep, it's just meaningless broken record stuff now. I think something will be cobbled together to start the season, but it'll just be kicking the can down the road again and we'll be in serious trouble again soon.

[BWFC_Insane]

Just want to point this out from Iles latest piece which is good news and that progress was made yesterday. However, inspite of Iles/Nixon saying "no chance of liquidation" this was always my understanding barring some intervention from elsewhere that would have been unexpected....

There is no question of the football club’s administrators, Rubin and Partners, taking the team into the new season, sanctioning contracts, season tickets or the like. In short, the alternatives available to FV and Quantuma were: Strike a deal, or the club goes bust.

https://www.theboltonnews.co.uk/sport/1 ... ompletion/

That entire article was more "nothing to see here, move along". Just to put us on notice that an announcement might be forthcoming about a deal being signed possibly next Wednesday. Yeah,

There is a reason why there aren't lots of details in the article. But yesterday was a good day in the end after it looked very bleak in the morning.

It was always going to be difficult to conclude to separate purchases from different administrators but with a linked history, linked creditors and linked mission. Especially when one was a football club with a hard deadline in place. Unfortunately the splitting of administrations has led to a whole raft of seen and also unseen complications.

[BWFC_Insane]

Yep, it's just meaningless broken record stuff now. I think something will be cobbled together to start the season, but it'll just be kicking the can down the road again and we'll be in serious trouble again soon.

I understand what you mean but we're not talking meaningless here. Progress even without "details" to save BWFC is not meaningless and if FV do not conclude the deal we are no more...and even if that does in the end just give us a few more years - its better than the alternative. Like England in the cricket WC final - it might look hopeless but take it right down to the last ball, stay in the game - you might just get a lucky deflection.....

[LeverEnd]

Yep, it's just meaningless broken record stuff now. I think something will be cobbled together to start the season, but it'll just be kicking the can down the road again and we'll be in serious trouble again soon.

I understand what you mean but we're not talking meaningless here. Progress even without "details" to save BWFC is not meaningless and if FV do not conclude the deal we are no more...and even if that does in the end just give us a few more years - its better than the alternative. Like England in the cricket WC final - it might look hopeless but take it right down to the last ball, stay in the game - you might just get a lucky deflection.....

I just don't believe the progress is meaningful. We've been hearing about it for weeks. Then it still doesn't happen.
Either it's done or it's not, that's the only progress that matters now. I don't believe these people, or remotely trust anything that is being leaked to Iles, nixon, BBC or anyone else.

[BWFC_Insane]

Yep, it's just meaningless broken record stuff now. I think something will be cobbled together to start the season, but it'll just be kicking the can down the road again and we'll be in serious trouble again soon.

I understand what you mean but we're not talking meaningless here. Progress even without "details" to save BWFC is not meaningless and if FV do not conclude the deal we are no more...and even if that does in the end just give us a few more years - its better than the alternative. Like England in the cricket WC final - it might look hopeless but take it right down to the last ball, stay in the game - you might just get a lucky deflection.....

I just don't believe the progress is meaningful. We've been hearing about it for weeks. Then it still doesn't happen.
Either it's done or it's not, that's the only progress that matters now. I don't believe these people, or remotely trust anything that is being leaked to Iles, nixon, BBC or anyone else.

So you believe we'll be liquidated next week then? I'd rather cling onto the positivity of yesterday afternoon for now. It is real. It isn't done yet. It is better than yesterday morning. But that is literally how things are.

Iles has a choice. Either say nothing or report that positive steps have been taken. In his article which is not exactly a positive one in tone he accepts that now it is simply about saving the club but that FV can't expect a celebratory reception.

[Lost Leopard Spot]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

[Worthy4England]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

I couldn't either - but then we're not party to whatever plans they might have for the hotel...For all we know they might want to convert it to a swimming pool or a data centre or a wacky warehouse...

[BWFC_Insane]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

If you look at the last set of accounts for the hotel before Ken Anderson arrived (and the club stopped paying the hotel for its services thus masking some hotel performance) and the full mess that ensued...

The hotel had a revenue of over £7M and a net profit of almost £3M.

I imagine that anyone buying the club will have looked at that and seen a way to offset a considerable amount of losses incurred by the football club - in fact you could get to a point where most if not all loss is covered by hotel. In previous years gross profit has been as high as 6 or 7M - with recorded (admin expenses of £6M - so whilst reporting tiny net profit its clear that in reality you're talking potential of maybe 4M).

[Harry Genshaw]

If the deal is eventually signed what am I going to do with all the spare time on my hands? Feels like years now that my days have been broken up checking for news on here, twitter and the BN and at the end of the day being no wiser or seemingly any nearer to a deal

[Lost Leopard Spot]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

If you look at the last set of accounts for the hotel before Ken Anderson arrived (and the club stopped paying the hotel for its services thus masking some hotel performance) and the full mess that ensued...

The hotel had a revenue of over £7M and a net profit of almost £3M.

I imagine that anyone buying the club will have looked at that and seen a way to offset a considerable amount of losses incurred by the football club - in fact you could get to a point where most if not all loss is covered by hotel. In previous years gross profit has been as high as 6 or 7M - with recorded (admin expenses of £6M - so whilst reporting tiny net profit its clear that in reality you're talking potential of maybe 4M).

All of which is former history. I'm pretty sure that British Home Stores made a profit at some stage...
I was referring to the figures that are in front of us, not some anti-Gerald Ratner reversal to days gone by before they went tits up.

[Lost Leopard Spot]

I've spent a few hours going through the published figures (as they are) for both the club and the hotel.
I cannot come up with any reasonable scenario that makes owning the hotel imperative to running the football club on the basis of those figures. The hotel is at best, ticking over, it's not going to pump income into the club. The only reasonable assumption is that as the stadium and hotel are one structure then a sale of that structure will depend on both elements being in place.
But, however, if that's the plan, then the EFL have already warned that that particular business model is unsustainable (refer yourselves to Sheffield Wednesday as an example), so why would they sign off on it?
If FV need to have the hotel in order to buy the football club, then the football club is in deep shit...

And not once did I mention circularity or a lack of dosh in the above sparse analysis (although not as sparse as Iles or Nixon's bullshit combined)

I couldn't either - but then we're not party to whatever plans they might have for the hotel...For all we know they might want to convert it to a swimming pool or a data centre or a wacky warehouse...

Indeed, Amazon are always on the lookout for centrally placed distribution centres...
But it still necessitates selling the stadium and renting the pitch back for games to be played on. That particular scenario is going to be stamped on hard, and soon, and probably not just at the instigation of the EFL.