Administration and recovery

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

Moderator: Zulus Thousand of em

Post Reply
User avatar
Dave Sutton's barnet
Immortal
Immortal
Posts: 17474
Joined: Sun May 14, 2006 4:00 pm
Location: Hanging on in quiet desperation
Contact:

Re: Administration and recovery

Post by Dave Sutton's barnet » Mon Aug 26, 2019 1:18 pm

Worthy4England wrote:
Mon Aug 26, 2019 1:10 pm
Dave Sutton's barnet wrote:
Mon Aug 26, 2019 1:06 pm
DJBlu wrote:
Mon Aug 26, 2019 1:00 pm
I want to say it'll be reet but I expect everybody is in full panic fanny mode.
I'm curiously relaxed and optimistic. Part of me suspects that's the denial part of the grief curve but if you look at it intellectually rather than emotionally, we're entering the stage where things actually happen. And it suits nobody, not even Ken, to liquidate.
Agree. It really had to come to this point, preferably about 4 weeks back.
Had that happened, we might have stayed up.

I understand these things shouldn't be rushed, and that admins normally take longer (which is a wakeup for those, like Accrington's Andy Holt, who suggest no team in admin should be allowed to start the season). Maybe we'll never know if it would have gone through had the hotel farrago not blocked it. We'd still have had Bassini's moronic oar, Ken's colossal ego, and Keir Gordon's lingering resentment. Who knows...

nicholaldo
Reliable
Reliable
Posts: 687
Joined: Mon Feb 12, 2018 8:23 pm

Re: Administration and recovery

Post by nicholaldo » Mon Aug 26, 2019 1:30 pm

Dave Sutton's barnet wrote:
Mon Aug 26, 2019 12:47 pm
I'm all for it. Not only is it good popcorn stuff for those of us in front of a computer on this beautiful day, more importantly, it's saying what needs to be said and hopefully starting the business of flushing the turds.

I agree. For our collective sanity, let's have things brought to a head.

Prufrock
Immortal
Immortal
Posts: 20129
Joined: Tue Mar 25, 2008 11:51 pm

Re: Administration and recovery

Post by Prufrock » Mon Aug 26, 2019 1:39 pm

Aye, as I see it, the only plausible way out is FV and we don't know even know if they can do it. That had to come to a head one way or another with the end result of takeover or bust. Might as well find out which.
In a world that has decided
That it's going to lose its mind
Be more kind, my friends, try to be more kind.

User avatar
OrtonCakeBingoBongo
Hopeful
Hopeful
Posts: 35
Joined: Tue Mar 08, 2016 9:30 pm

Re: Administration and recovery

Post by OrtonCakeBingoBongo » Mon Aug 26, 2019 1:40 pm

I find it bizarre that the club could indeed fail to exist at some point in the future. I mean as recent as the 1990's you were playing good football and had some scores / players and games of distinction. I don't get to see what goes on regards ownership to the extent of actual fans there but we ourselves have had significant problems with our own hierarchy for many years now. Not to the level of potentially going out of business but disappearing into a black hole of sorts and becoming something of a lost team.

You played poor at the weekend, it were a team in trouble and short on confidence there's no doubt but all I can offer is hope salvation can arrive and put the club back into calmer waters. This is no quick fix solution I realise and it's going to take considerable time to get back any harmony from before but to go entirely out of business ? Even as an impartial viewer I find it far fetched, this is Bolton Wanderers here, you just don't disappear even if the problems are as severe as people make out. Let you get on now.

User avatar
Dave Sutton's barnet
Immortal
Immortal
Posts: 17474
Joined: Sun May 14, 2006 4:00 pm
Location: Hanging on in quiet desperation
Contact:

Re: Administration and recovery

Post by Dave Sutton's barnet » Mon Aug 26, 2019 1:51 pm

Prufrock wrote:
Mon Aug 26, 2019 1:39 pm
Aye, as I see it, the only plausible way out is FV and we don't know even know if they can do it. That had to come to a head one way or another with the end result of takeover or bust. Might as well find out which.
FV is the most plausible way out. We survive even if we're driving Ladas not Lamborghinis. This squabble doesn't seem to be about financial suitability, either up front or ongoing, so much as pissing contests and grubby hands.

If FV doesn't work, sounds like the admins are threatening to give up when surely they're duty-bound to at least ring the bell and see what happens.

User avatar
Dave Sutton's barnet
Immortal
Immortal
Posts: 17474
Joined: Sun May 14, 2006 4:00 pm
Location: Hanging on in quiet desperation
Contact:

Re: Administration and recovery

Post by Dave Sutton's barnet » Mon Aug 26, 2019 2:39 pm

"Someone's scratching at the window. I wonder, who is it?"
CODE: SELECT ALL

User avatar
Dave Sutton's barnet
Immortal
Immortal
Posts: 17474
Joined: Sun May 14, 2006 4:00 pm
Location: Hanging on in quiet desperation
Contact:

Re: Administration and recovery

Post by Dave Sutton's barnet » Mon Aug 26, 2019 2:44 pm

Ilesy story updating and explaining the options.

https://www.theboltonnews.co.uk/sport/1 ... over-saga/
It has been well-reported that the Kamani family, owners of the BooHoo.com online fashion website have been in advanced negotiations to buy the hotel. Their interest in the club has been denied via social media, for what that is worth, but that has not stopped rumours that they would like the lot.

If a cash bid is made for the whole operation it would enable the administrators more leverage to push the deal through in a way that Football Ventures’ structured deal cannot.

The title of ‘preferred bidder’ is a moot one, at present, for the FV consortium. And if proof of funding has already been shown by BooHoo to the hotel’s administrators, Quantuma, to enable them to reach advanced stages of discussions the second half of the deal must logically be a simple one.

It is understood the club’s administrators have made contact with the BooHoo group since the FV bid stalled on Friday night but, at time of writing, had received nothing back.

Gashead
Hopeful
Hopeful
Posts: 2
Joined: Mon Aug 26, 2019 1:48 pm

Re: Administration and recovery

Post by Gashead » Mon Aug 26, 2019 2:49 pm

Common Bolton I hope you sort yourselves out soon you are too big a club to loose also we need Bury to stay in the league as well good luck to both of you.
We look forward to seeing Oh all down the mem
Best wishes a concerned Gashead
Bristol Rovers F C

User avatar
Dave Sutton's barnet
Immortal
Immortal
Posts: 17474
Joined: Sun May 14, 2006 4:00 pm
Location: Hanging on in quiet desperation
Contact:

Re: Administration and recovery

Post by Dave Sutton's barnet » Mon Aug 26, 2019 2:53 pm

Gashead wrote:
Mon Aug 26, 2019 2:49 pm
Common Bolton I hope you sort yourselves out soon you are too big a club to loose also we need Bury to stay in the league as well good luck to both of you.
We look forward to seeing Oh all down the mem
Best wishes a concerned Gashead
Bristol Rovers F C
Cheers, champ. You learn who your friends are at this kind of time. Up the Gas and here's to us hearing the strains of Goodnight Irene on October 22nd.


Enoch
Icon
Icon
Posts: 4267
Joined: Sun Nov 18, 2012 7:08 pm
Location: The Garden of England.

Re: Administration and recovery

Post by Enoch » Mon Aug 26, 2019 3:08 pm

DJBlu wrote:
Mon Aug 26, 2019 1:00 pm
I want to say it'll be reet but I expect everybody is in full panic fanny mode.

Nah, be reet.

Bruce Rioja
Immortal
Immortal
Posts: 35969
Joined: Mon Jan 17, 2005 9:19 pm
Location: Drifting into the arena of the unwell.

Re: Administration and recovery

Post by Bruce Rioja » Mon Aug 26, 2019 3:10 pm

Has Laurie resurfaced yet? Can only be a matter of time!
May the bridges I burn light your way

DJBlu
Site Admin
Posts: 3953
Joined: Wed Oct 12, 2005 7:38 pm

Re: Administration and recovery

Post by DJBlu » Mon Aug 26, 2019 3:23 pm

Bruce Rioja wrote:
Mon Aug 26, 2019 3:10 pm
Has Laurie resurfaced yet? Can only be a matter of time!
Told someone on twitter he has £30 million in his bank now.

I suppose that's the modern day equivalent of a fax in my pocket.

User avatar
Abdoulaye's Twin
Legend
Legend
Posts: 8537
Joined: Tue Apr 17, 2007 1:27 pm
Location: Skye high

Re: Administration and recovery

Post by Abdoulaye's Twin » Mon Aug 26, 2019 3:26 pm

I've been resigned to it all going tits up for quite some time now and as much as I don't want us to be liquidated, am quite numb to it and almost not bothered - anything, just let it be finished either way. If it is the end, then I hope it happens in the most spectacular noisy way possible. All in the vain hope that those responsible are shown in the full glare of the media for the grubby little nice people they are. That the administrators of our game might get held to account. But most of all that there is some meaningful change to the governance of the game. I know there is feck all hope of that and we'll be merely a very minor footnote in history, but one has to hold on to some hope...

User avatar
Lost Leopard Spot
Immortal
Immortal
Posts: 18436
Joined: Wed May 09, 2012 11:14 am
Location: In the long grass, hunting for a watering hole.

Re: Administration and recovery

Post by Lost Leopard Spot » Mon Aug 26, 2019 3:46 pm

What has truly fxcked me off through this entire process is this constantly reported repetition that FV have shown proof of funding. Have they fxck. They don't have a pot to piss in, never had and probably never will.

I'm just hoping the Kamanis get tempted into a cash offer for both hotel and club.

Paul Appleton statement:
Further to my previous statement and to clarify absolutely the position, Football Ventures (Whites) Limited (FVWL) are the only bidder to have satisfied the full criteria of the sale process and that remains the position.
Despite persistent but false rumours in the media and on social media, FVWL are the only party to have met these criteria including, but not limited to, providing proof and source of funding and having satisfied the EFL's Owners and Directors Test throughout the Administration, dating back to May 13.
I hope this clarifies the current position.

... Well no, it doesn't clarify it: to provide proof and sourcing of funding is one thing, to meet the amount of funding required is another, which they've obviously failed to achieve.
That's not a leopard!
頑張ってください

Barefoot Wanderer
Hopeful
Hopeful
Posts: 99
Joined: Sun Oct 07, 2012 9:57 pm

Re: Administration and recovery

Post by Barefoot Wanderer » Mon Aug 26, 2019 4:00 pm

Hopefully we'll get extension after extension and someone (even Bassini if he can prove his £30m exists) comes in on the eleventh hour. The EFL will be falling over themselves to stop a club from extinction so there will undoubtedly be more deadlines to look forward to and stress over. Obviously there has to come a time when liquidation will occur but it won't start on Wednesday, this seems like a ploy to draw all the parties together and sign the agreements required to get the deal over the line.

There is ample time I suspect even to find a new prospective owner, just have to keep your fingers crossed it's not Ken Anderson.

officer_dibble
Legend
Legend
Posts: 8613
Joined: Sun Oct 17, 2004 9:33 pm
Location: Leeds

Re: Administration and recovery

Post by officer_dibble » Mon Aug 26, 2019 4:50 pm

I think we’d all like the Kamanis to buy us!

We’ll see. At least we should have some idea what’s going on this time tomorrow.

madmarx
Hopeful
Hopeful
Posts: 217
Joined: Thu Jul 31, 2008 2:18 pm

Re: Administration and recovery

Post by madmarx » Mon Aug 26, 2019 5:32 pm

Ey up lads been a while (neither of our teams have had much to banter about really apart from the odd fruitless expensive weekend in the capital for us) Just dropping in to wish you all the best from Sunderland and hope to see you boxing day.
Football finance is an absolute shit tip and as t much as we reviled Ellis short he did in the end wipe our debt. Could have been very much worse for us.

Anyway here's hoping you and Bury both pull through fingers crossed

Harry Genshaw
Legend
Legend
Posts: 7274
Joined: Sun Nov 13, 2005 10:47 pm
Location: Half dead in Panama

Re: Administration and recovery

Post by Harry Genshaw » Mon Aug 26, 2019 5:55 pm

Appleton is saying that only Ken's signature was required for the deal to go through on Friday.

Anderson is saying the deal being delayed is nothing to do with him and it's in Keir Gordon's hands.

1 of them must be lying. Unfortunately, I've no faith in either
"Get your feet off the furniture you Oxbridge tw*t. You're not on a feckin punt now you know"

Prufrock
Immortal
Immortal
Posts: 20129
Joined: Tue Mar 25, 2008 11:51 pm

Re: Administration and recovery

Post by Prufrock » Mon Aug 26, 2019 5:57 pm

* at least one of them must be lying
In a world that has decided
That it's going to lose its mind
Be more kind, my friends, try to be more kind.

bristol_Wanderer3
Dedicated
Dedicated
Posts: 1713
Joined: Tue Apr 10, 2007 8:53 pm

Re: Administration and recovery

Post by bristol_Wanderer3 » Mon Aug 26, 2019 6:04 pm

KA's m/o is to muddy the waters with the media, often insisting it is down to others, to keep the heat off himself.

This is why people need to go public. Right now he is taking us out without taking any flak He'll fold if the media heat is cranked up...

Who is online

Users browsing this forum: Google [Bot], Prufrock and 45 guests