Administration and recovery
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- Worthy4England
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Re: Administration and recovery
How do you know? It's not like he'd have drawn any attention to it!TonyDomingos wrote: ↑Sat May 18, 2019 8:52 ambristol_Wanderer3 wrote: ↑Fri May 17, 2019 6:25 pmhttps://www.bbc.co.uk/sport/football/48282292
^^Interesting article on Watford. Covers Bassini, winding up petitions, hidden debts, new owners, FA cup finals. Hopefully even though KA outdid Bassini and we have gone further into the abyss, we might eventually have a similar outcome, and that doesn't mean starting with Bassini taking over!! Wasn't he supposed to be submitting his extra large bag of Minstrels with a pouch of Hoola Hoops bid just about now?
Pour yourself a stiff drink, sit down and take a deep breath. I've got some shocking news: there was no bid by Bassini yesterday. I am crushed.
- TonyDomingos
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Re: Administration and recovery
Worthy4England wrote: ↑Sat May 18, 2019 10:02 amHow do you know? It's not like he'd have drawn any attention to it!TonyDomingos wrote: ↑Sat May 18, 2019 8:52 ambristol_Wanderer3 wrote: ↑Fri May 17, 2019 6:25 pmhttps://www.bbc.co.uk/sport/football/48282292
^^Interesting article on Watford. Covers Bassini, winding up petitions, hidden debts, new owners, FA cup finals. Hopefully even though KA outdid Bassini and we have gone further into the abyss, we might eventually have a similar outcome, and that doesn't mean starting with Bassini taking over!! Wasn't he supposed to be submitting his extra large bag of Minstrels with a pouch of Hoola Hoops bid just about now?
Pour yourself a stiff drink, sit down and take a deep breath. I've got some shocking news: there was no bid by Bassini yesterday. I am crushed.
I am Lawrence Bassini.
Às armas, às armas!
Sobre a terra, sobre o mar,
Às armas, às armas!
Pela Pátria lutar!
Contra os canhões marchar, marchar!
Sobre a terra, sobre o mar,
Às armas, às armas!
Pela Pátria lutar!
Contra os canhões marchar, marchar!
- TANGODANCER
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Re: Administration and recovery
Owen Coyle telling it like it is in the B.N. The comments alone are worth a read.
https://www.theboltonnews.co.uk/sport/1 ... oss-coyle/
https://www.theboltonnews.co.uk/sport/1 ... oss-coyle/
Si Deus pro nobis, quis contra nos?
- TANGODANCER
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Re: Administration and recovery
Thought inspiring article by Marc Iles in today's B,N.
https://www.theboltonnews.co.uk/sport/1 ... final-day/
https://www.theboltonnews.co.uk/sport/1 ... final-day/
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- Lost Leopard Spot
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Re: Administration and recovery
I thought that was quite toe curling to be truthful.TANGODANCER wrote: ↑Sun May 19, 2019 9:37 amThought inspiring article by Marc Iles in today's B,N.
https://www.theboltonnews.co.uk/sport/1 ... final-day/
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Re: Administration and recovery
Maybe so amigo, but how far from the truth is it? ; that's what I meant by thought inspiring. This is Bolton Wanderers?Lost Leopard Spot wrote: ↑Sun May 19, 2019 1:07 pmI thought that was quite toe curling to be truthful.TANGODANCER wrote: ↑Sun May 19, 2019 9:37 amThought inspiring article by Marc Iles in today's B,N.
https://www.theboltonnews.co.uk/sport/1 ... final-day/
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- Lost Leopard Spot
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Re: Administration and recovery
I'm not saying it's untruthful. Nor that it's not thought inspiring. I just find the whole food bank thing a bit... toe curling. Here you go, have a pack of sausages, sorry I couldn't have paid your i-phone payment instead.TANGODANCER wrote: ↑Sun May 19, 2019 1:10 pmMaybe so amigo, but how far from the truth is it? ; that's what I meant by thought inspiring. This is Bolton Wanderers?Lost Leopard Spot wrote: ↑Sun May 19, 2019 1:07 pmI thought that was quite toe curling to be truthful.TANGODANCER wrote: ↑Sun May 19, 2019 9:37 amThought inspiring article by Marc Iles in today's B,N.
https://www.theboltonnews.co.uk/sport/1 ... final-day/
That's not a leopard!
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- TonyDomingos
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Re: Administration and recovery
Club statement:
Paul Appleton, the Joint Administrator for Bolton Wanderers, has confirmed that all non-football related staff will receive their salaries for the period following the Joint Administrators appointment last week.
The Joint Administrators will, pursuant to the insolvency rules, adopt the employment contracts of those employees from the time of administration (May 13) and will review the position on a month-by-month basis.
Mr Appleton said: “I understand this has been a period of great uncertainty, which has caused considerable hardship for so many members of staff.
“The loyalty shown has been remarkable and it is clear the football club could not function on a day-to-day basis without the sacrifices they have made.
“On that basis, the Administrators undertake to pay wages and holiday pay to all non-playing staff from the time of our appointment.
“The first payment will be this week with staff receiving a week’s pay in arrears and a week in advance. They will then be paid on a weekly basis from the administration until such time as a new owner is found whilst funds permit.
“Unfortunately, we cannot pay any wages outstanding from before the date of our appointment.
“There will be an update on the position of all football-related employees in the next few days.”
Paul Appleton, the Joint Administrator for Bolton Wanderers, has confirmed that all non-football related staff will receive their salaries for the period following the Joint Administrators appointment last week.
The Joint Administrators will, pursuant to the insolvency rules, adopt the employment contracts of those employees from the time of administration (May 13) and will review the position on a month-by-month basis.
Mr Appleton said: “I understand this has been a period of great uncertainty, which has caused considerable hardship for so many members of staff.
“The loyalty shown has been remarkable and it is clear the football club could not function on a day-to-day basis without the sacrifices they have made.
“On that basis, the Administrators undertake to pay wages and holiday pay to all non-playing staff from the time of our appointment.
“The first payment will be this week with staff receiving a week’s pay in arrears and a week in advance. They will then be paid on a weekly basis from the administration until such time as a new owner is found whilst funds permit.
“Unfortunately, we cannot pay any wages outstanding from before the date of our appointment.
“There will be an update on the position of all football-related employees in the next few days.”
Às armas, às armas!
Sobre a terra, sobre o mar,
Às armas, às armas!
Pela Pátria lutar!
Contra os canhões marchar, marchar!
Sobre a terra, sobre o mar,
Às armas, às armas!
Pela Pátria lutar!
Contra os canhões marchar, marchar!
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Re: Administration and recovery
How long are we talking that staff have already gone without pay, and wonder if they'll ever get it back?
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Re: Administration and recovery
asked if buyer immanent: "no"
- BWFC_Insane
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Re: Administration and recovery
£25M is cost to buy the club set by administrators.
£25M for a league one club and loss making hotel...sheesh....
£25M for a league one club and loss making hotel...sheesh....
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- BWFC_Insane
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Re: Administration and recovery
You still need to prove access to £25M to get through the door....doesn’t matter how you slice it, that’s a fair chunk for what we are.
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Re: Administration and recovery
So the administrators deal is:
Give us £25k to look at the books, and at the same time show us the £25m you've got in the bank, show us that you have passed the EFL fit and proper test and proof that your business plan has been approved by the EFL
Should sort out the men from the boys
Serious players only please
Give us £25k to look at the books, and at the same time show us the £25m you've got in the bank, show us that you have passed the EFL fit and proper test and proof that your business plan has been approved by the EFL
Should sort out the men from the boys
Serious players only please
The Whites Are Going Up 2021
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Re: Administration and recovery
Almost as if they know what they're doing, isn't it?nelson66 wrote: ↑Thu May 23, 2019 10:56 amSo the administrators deal is:
Give us £25k to look at the books, and at the same time show us the £25m you've got in the bank, show us that you have passed the EFL fit and proper test and proof that your business plan has been approved by the EFL
Should sort out the men from the boys
Serious players only please
Pleasing, too, to see that they seem in favour of Getting The F*ck On With It.
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Re: Administration and recovery
In fairness it is the price Ken set and the cost of seeing the books is far higher than Ken set....Dave Sutton's barnet wrote: ↑Thu May 23, 2019 10:58 amAlmost as if they know what they're doing, isn't it?nelson66 wrote: ↑Thu May 23, 2019 10:56 amSo the administrators deal is:
Give us £25k to look at the books, and at the same time show us the £25m you've got in the bank, show us that you have passed the EFL fit and proper test and proof that your business plan has been approved by the EFL
Should sort out the men from the boys
Serious players only please
Pleasing, too, to see that they seem in favour of Getting The F*ck On With It.
So whilst they've clearly moved very very quickly on this one and administration will put us in a better position for a sale and a new buyer - the costs are still huge for a league one club on at least -12 points.
There are potentially things that can offset some cost - but still - I'll be interested in how many of the 30 interested parties can genuinely meet those demands. I'm guessing the administrators have gone public in this way because they want to get rid of time-wasters quickly. End of the day we only need one......
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Re: Administration and recovery
It's the public price Ken set. Christ alone knows what else went on.
Didn't Ken ask bidders for £500,000 to see the books?
EDIT: Aye, so it's said:
https://www.theboltonnews.co.uk/news/15 ... ers-court/
Didn't Ken ask bidders for £500,000 to see the books?
EDIT: Aye, so it's said:
https://www.theboltonnews.co.uk/news/15 ... ers-court/
That's from 2017 but Iles last night said "20 times as much [...] to see the data room". £25,000 x20 is £500,000. I can't imagine Ken was asking £1,250 (x20 = £25,000).The ‘third party’ has also been in contact with The Bolton News to give their version of events. Speaking via a spokesperson, it is claimed Mr Anderson asked for a non-refundable £500,000 to allow access to the club’s books and a total £5m by Monday morning.
"That offer was put to him on Friday and firmed up on Saturday,” the spokesperson continued.
“He then wanted £1m for staying in the Championship during the 2017/18 season and a further £4m if the club reached the Premier League in the next three seasons. This is for a business in which he owned 57.5 per cent of the shares, the whole 95 per cent having only been purchased for £1 in March last year.”
- Worthy4England
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Re: Administration and recovery
This does on the face of it, seem to be the "all-in" price. It's nigh on impossible to say whether it represents the same things as Anderson "set", bearing in mind that two sets of bidders that agreed "heads of terms" then walked away saying the ying and yang didn't match.Dave Sutton's barnet wrote: ↑Thu May 23, 2019 11:58 amIt's the public price Ken set. Christ alone knows what else went on.
Didn't Ken ask bidders for £500,000 to see the books?
EDIT: Aye, so it's said:
https://www.theboltonnews.co.uk/news/15 ... ers-court/That's from 2017 but Iles last night said "20 times as much [...] to see the data room". £25,000 x20 is £500,000. I can't imagine Ken was asking £1,250 (x20 = £25,000).The ‘third party’ has also been in contact with The Bolton News to give their version of events. Speaking via a spokesperson, it is claimed Mr Anderson asked for a non-refundable £500,000 to allow access to the club’s books and a total £5m by Monday morning.
"That offer was put to him on Friday and firmed up on Saturday,” the spokesperson continued.
“He then wanted £1m for staying in the Championship during the 2017/18 season and a further £4m if the club reached the Premier League in the next three seasons. This is for a business in which he owned 57.5 per cent of the shares, the whole 95 per cent having only been purchased for £1 in March last year.”
- Lost Leopard Spot
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Re: Administration and recovery
"More than 30 expressions of interest already... "
I wonder how many expressions of interests are left after deducting Bassini, the Supporter's Trust, Bassini, the Supporter's Trust, the Supporter's Trust, the Supporter's Trust, Bassini... .... ...
I wonder how many expressions of interests are left after deducting Bassini, the Supporter's Trust, Bassini, the Supporter's Trust, the Supporter's Trust, the Supporter's Trust, Bassini... .... ...
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