Administration and recovery

[Whookam]

It was a stupid idea to build an expensive to maintain stadium in Horwich when we had a cheap one in Bolton. I can only think someone on the club's board was on the take.The future of the current club is so bleak in Horwich i'd be up for liquidation and starting a new club back in Bolton.
It would be a tough few years to start with ground sharing with Radcliffe or Leigh several divisions down but worth it in the long run in my opinion to get the town's club back in Bolton.

Not this bullshit again. Burnden was falling apart, there was no room for expansion, and offered no opportunity for progression. If we had stayed at Burnden there would have been no Allardyce, no 10-year PL stay, no Munich, no Okocha. We aren't in this situation because of the stadium. And moving to some shithole close to a decrepit and delapidated town centre isn't going to improve us.

This, every day of the week.

[Worthy4England]

https://www.theboltonnews.co.uk/sport/1 ... e-delayed/

Quantuma have spoken

2 more weeks before the sale of the hotel can be completed.

Spidey senses say that FV knew this was coming and that their bid isn't the best. Oh this is going to go tits up.

Not just spidey senses, it's there fairly clearly in the final par:

“The joint administrators are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.”

In other words: FV's offer, which is one of the two, isn't in the best interests (ie offering the best cash, or the most up front, or whatever) of the two bids.

That's the way I read that last paragraph too. "We're doing everything we can to help you FV, but you're not the best bid". As an aside for someone not using a process and they could select "anytime the winner", they mention the word process quite a lot!

[BWFC_Insane]

https://www.theboltonnews.co.uk/sport/1 ... e-delayed/

Quantuma have spoken

2 more weeks before the sale of the hotel can be completed.

Spidey senses say that FV knew this was coming and that their bid isn't the best. Oh this is going to go tits up.

Not just spidey senses, it's there fairly clearly in the final par:

“The joint administrators are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.”

In other words: FV's offer, which is one of the two, isn't in the best interests (ie offering the best cash, or the most up front, or whatever) of the two bids.

That's the way I read that last paragraph too. "We're doing everything we can to help you FV, but you're not the best bid". As an aside for someone not using a process and they could select "anytime the winner", they mention the word process quite a lot!

They were, according to others, picking a winner a week last Friday. Now they say they've sent out an SPA to two parties...doesn't sound much like any process that has been described. It is clear to me that there is more going on here than was alleged.

If it was as simple as picking the best bid then more than a week beyond the deadline they wouldn't be sending out two SPA's - I rather fear we are in catch 22 here. FV don't yet have the club and therefore Quantuma can't consider them the club owners and therefore need another option for the hotel. Equally if FV are even able to complete on the club but need the hotel too - how much will the price go up once they are in a sense committed to a deal....

I have a nasty feeling this week is going to be pretty horrible. I cannot see how this gets resolved for the above reason. A game is being played out by creditors and its clear than FV don't have the ability, inclination or money to just push through the web. Somehow I still think they will prevail eventually - sadly it might well be too late.

[Lost Leopard Spot]

https://www.theboltonnews.co.uk/sport/1 ... e-delayed/

Quantuma have spoken

2 more weeks before the sale of the hotel can be completed.

Spidey senses say that FV knew this was coming and that their bid isn't the best. Oh this is going to go tits up.

Not just spidey senses, it's there fairly clearly in the final par:

“The joint administrators are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.”

In other words: FV's offer, which is one of the two, isn't in the best interests (ie offering the best cash, or the most up front, or whatever) of the two bids.

That's the way I read that last paragraph too. "We're doing everything we can to help you FV, but you're not the best bid". As an aside for someone not using a process and they could select "anytime the winner", they mention the word process quite a lot!

They were, according to others, picking a winner a week last Friday. Now they say they've sent out an SPA to two parties...doesn't sound much like any process that has been described. It is clear to me that there is more going on here than was alleged.

If it was as simple as picking the best bid then more than a week beyond the deadline they wouldn't be sending out two SPA's - I rather fear we are in catch 22 here. FV don't yet have the club and therefore Quantuma can't consider them the club owners and therefore need another option for the hotel. Equally if FV are even able to complete on the club but need the hotel too - how much will the price go up once they are in a sense committed to a deal....

I have a nasty feeling this week is going to be pretty horrible. I cannot see how this gets resolved for the above reason. A game is being played out by creditors and its clear than FV don't have the ability, inclination or money to just push through the web. Somehow I still think they will prevail eventually - sadly it might well be too late.

It's not complicated guv!
Football Ventures are borassic. They've put in a bid for the hotel along with a plea stating that they need to buy it to go ahead with their business plan - which they do, because they've got no money and are dependent on future loans and asset sales. But meanwhile, hey ho, along comes somebody with cash, actual banknotes stuffed in their wallets and have offered a decent price.

[BWFC_Insane]

https://www.theboltonnews.co.uk/sport/1 ... e-delayed/

Quantuma have spoken

2 more weeks before the sale of the hotel can be completed.

Spidey senses say that FV knew this was coming and that their bid isn't the best. Oh this is going to go tits up.

Not just spidey senses, it's there fairly clearly in the final par:

“The joint administrators are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.”

In other words: FV's offer, which is one of the two, isn't in the best interests (ie offering the best cash, or the most up front, or whatever) of the two bids.

That's the way I read that last paragraph too. "We're doing everything we can to help you FV, but you're not the best bid". As an aside for someone not using a process and they could select "anytime the winner", they mention the word process quite a lot!

They were, according to others, picking a winner a week last Friday. Now they say they've sent out an SPA to two parties...doesn't sound much like any process that has been described. It is clear to me that there is more going on here than was alleged.

If it was as simple as picking the best bid then more than a week beyond the deadline they wouldn't be sending out two SPA's - I rather fear we are in catch 22 here. FV don't yet have the club and therefore Quantuma can't consider them the club owners and therefore need another option for the hotel. Equally if FV are even able to complete on the club but need the hotel too - how much will the price go up once they are in a sense committed to a deal....

I have a nasty feeling this week is going to be pretty horrible. I cannot see how this gets resolved for the above reason. A game is being played out by creditors and its clear than FV don't have the ability, inclination or money to just push through the web. Somehow I still think they will prevail eventually - sadly it might well be too late.

It's not complicated guv!
Football Ventures are borassic. They've put in a bid for the hotel along with a plea stating that they need to buy it to go ahead with their business plan - which they do, because they've got no money and are dependent on future loans and asset sales. But meanwhile, hey ho, along comes somebody with cash, actual banknotes stuffed in their wallets and have offered a decent price.

In which case why wasn't it sold already? If the process was "sell to the highest bidder" and the deadline 10 days ago....if it is that simple why send out SPA's to two parties?

[Lost Leopard Spot]

https://www.theboltonnews.co.uk/sport/1 ... e-delayed/

Quantuma have spoken

2 more weeks before the sale of the hotel can be completed.

Spidey senses say that FV knew this was coming and that their bid isn't the best. Oh this is going to go tits up.

Not just spidey senses, it's there fairly clearly in the final par:

“The joint administrators are keen to reiterate their position in respect to the football club; they remain committed to giving every assistance to aid a successful solution to their situation, however they can only transact with those bidders who put forward a credible offer that can be considered is in the best interest of the creditors and staff of the hotel.”

In other words: FV's offer, which is one of the two, isn't in the best interests (ie offering the best cash, or the most up front, or whatever) of the two bids.

That's the way I read that last paragraph too. "We're doing everything we can to help you FV, but you're not the best bid". As an aside for someone not using a process and they could select "anytime the winner", they mention the word process quite a lot!

They were, according to others, picking a winner a week last Friday. Now they say they've sent out an SPA to two parties...doesn't sound much like any process that has been described. It is clear to me that there is more going on here than was alleged.

If it was as simple as picking the best bid then more than a week beyond the deadline they wouldn't be sending out two SPA's - I rather fear we are in catch 22 here. FV don't yet have the club and therefore Quantuma can't consider them the club owners and therefore need another option for the hotel. Equally if FV are even able to complete on the club but need the hotel too - how much will the price go up once they are in a sense committed to a deal....

I have a nasty feeling this week is going to be pretty horrible. I cannot see how this gets resolved for the above reason. A game is being played out by creditors and its clear than FV don't have the ability, inclination or money to just push through the web. Somehow I still think they will prevail eventually - sadly it might well be too late.

It's not complicated guv!
Football Ventures are borassic. They've put in a bid for the hotel along with a plea stating that they need to buy it to go ahead with their business plan - which they do, because they've got no money and are dependent on future loans and asset sales. But meanwhile, hey ho, along comes somebody with cash, actual banknotes stuffed in their wallets and have offered a decent price.

In which case why wasn't it sold already? If the process was "sell to the highest bidder" and the deadline 10 days ago....if it is that simple why send out SPA's to two parties?

For airtightness, for ducks being lined up, for future legal don't shoot me I was only the conveyancer reasons, for a balance, for further revenue generation, to get the best value by introducing competition, for a million and one reasons none of which makes it a tinfoil hat conspiracy that's ever so complex with hidden details us mortals cannot possibly fathom, squire.

[BWFC_Insane]

For airtightness, for ducks being lined up, for future legal don't shoot me I was only the conveyancer reasons, for a balance, for further revenue generation, to get the best value by introducing competition, for a million and one reasons none of which makes it a tinfoil hat conspiracy that's ever so complex with hidden details us mortals cannot possibly fathom, squire.

I don't think sending out two SPA's can ever be described as being "airtight" as we well know. Or "ducks being lined up". Especially if your argument is that FV have nothing - there were other bidders for hotel presumably bidding more than "nothing".

I do think the two deals have become incredibly linked and horribly messy.

I am starting to wonder if possibly secretly Boohoo do want the club - it makes no sense for their portfolio but would explain what is happening in background.

If the club is liquidated who will be the major losers? - Answer is Fildraw. (and us).

[officer_dibble]

People who buy football clubs don’t do it as part of a rational business and property portfolio, not at our level.

They could be mega ego driven and fancy it as real life championship manager. Might be a clever game!

Either way FV need to show some coin If they want it...

[BWFC_Insane]

People who buy football clubs don’t do it as part of a rational business and property portfolio, not at our level.

They could be mega ego driven and fancy it as real life championship manager. Might be a clever game!

Either way FV need to show some coin If they want it...

The problem we have is everyone seriously interested in us has been looking at that. We've not had any rich and minted billionaires looking for fun. Had we - we'd not be where we are.

And the issue is that the entry cost is very high so many of those rational business people are put off instantly by that.

[TANGODANCER]

So, after all this, the answer is still the same as day One: We don't know?

[DJBlu]

So, after all this, the answer is still the same as day One: We don't know?

Looks like it.

I think LLS is right in that this is damage limitation for the administrator when BooHoo get the hotel as they can say "We gave FV every opportunity to sort out their bid"

KA is a c*nt btw, it's is no wonder the man has no worries with money. His final swing of allocating a separate administrator has played right into his hands. I can only hope that Bassini has enough evidence to get a sizeable wedge from the selfish arse smear.

[Bertie Wooster]

Hi

The new owners will be announced no later than Tuesday.

The supporters have been great. The turnout so far has been a great help in getting things resolved.

As for players, none are expected to sign immediatly. There are other issues to solve first. Technical and practical things. Also possible but not likely that legal situation with certain individual needs to be fully resolved first.

There have been talks with the EFL about the situation and the possibility for an extended transfer window due to special circumstances. EFL positive. Needs FIFA approval.

Family member of mine wish to thank you for your patience. The club is of great importance to the city. This has been a very wild ride, Wilder than you think. Nothing that can be talked about for a long while. It was very close.

Perhaps related to the Kamani family ?

[BWFC_Insane]

Hi

The new owners will be announced no later than Tuesday.

The supporters have been great. The turnout so far has been a great help in getting things resolved.

As for players, none are expected to sign immediatly. There are other issues to solve first. Technical and practical things. Also possible but not likely that legal situation with certain individual needs to be fully resolved first.

There have been talks with the EFL about the situation and the possibility for an extended transfer window due to special circumstances. EFL positive. Needs FIFA approval.

Family member of mine wish to thank you for your patience. The club is of great importance to the city. This has been a very wild ride, Wilder than you think. Nothing that can be talked about for a long while. It was very close.

Perhaps related to the Kamani family ?

There is zero chance of them completing a deal for the club by Tuesday. If they even want it.

[Lost Leopard Spot]

Hi

The new owners will be announced no later than Tuesday.

The supporters have been great. The turnout so far has been a great help in getting things resolved.

As for players, none are expected to sign immediatly. There are other issues to solve first. Technical and practical things. Also possible but not likely that legal situation with certain individual needs to be fully resolved first.

There have been talks with the EFL about the situation and the possibility for an extended transfer window due to special circumstances. EFL positive. Needs FIFA approval.

Family member of mine wish to thank you for your patience. The club is of great importance to the city. This has been a very wild ride, Wilder than you think. Nothing that can be talked about for a long while. It was very close.

Perhaps related to the Kamani family ?

No, just another internet troll.

[Bertie Wooster]

Wasn't it a very weird time for the hotel admins to release a statement 9pm on a Sunday evening ?

[Lost Leopard Spot]

Wasn't it a very weird time for the hotel admins to release a statement 9pm on a Sunday evening ?

Very weird. Overtime and at twice the rate

[Worthy4England]

Wasn't it a very weird time for the hotel admins to release a statement 9pm on a Sunday evening ?

Very weird. Overtime and at twice the rate

Yeah - you usually draft those on the Friday to make it look like you were working the weekend.

[Lost Leopard Spot]

I'm getting a bit sick and tired of hearing this one too: "Also, if FV fail to buy the hotel, pull out of buying club and another buyer isn't found, how can the hotel carry on? #bwfc go out of business and the hotel is stuck on the side of a stadium no-one uses? How does that work? Surely, if the club dies, the hotel does, too"

Well no, it fxcking doesn't necessarily. Ask Coventry City FC. Ask Amazon who are desperate for warehouse storage right next to a motorway in the North West. Ask every fxcking politician in the land who wonder where they can desperately plonk another million houses that isn't green belt.

And no, I'm not advocating it, just pointing out that buying the hotel and not the club can make perfectly good commercial and/or financial sense even if the outcome is that we die.

As I've said before, I think we (and Bury) are fxcked.

[Jugs]

Aye, I think it's game over now.

[jimbo]

I'm getting a bit sick and tired of hearing this one too: "Also, if FV fail to buy the hotel, pull out of buying club and another buyer isn't found, how can the hotel carry on? #bwfc go out of business and the hotel is stuck on the side of a stadium no-one uses? How does that work? Surely, if the club dies, the hotel does, too"

Well no, it fxcking doesn't necessarily. Ask Coventry City FC. Ask Amazon who are desperate for warehouse storage right next to a motorway in the North West. Ask every fxcking politician in the land who wonder where they can desperately plonk another million houses that isn't green belt.

And no, I'm not advocating it, just pointing out that buying the hotel and not the club can make perfectly good commercial and/or financial sense even if the outcome is that we die.

As I've said before, I think we (and Bury) are fxcked.

It would make a terrible housing estate - imagine the queues as everyone tries to leave setting off for work for 9!