The breaking News thread...

[Aanvalluh]

Actually, I worry about the demise of this forum if the club goes 'tits up'.

Blimey, does this owe tax as well??

[Gary the Enfield]

Actually, I worry about the demise of this forum if the club goes 'tits up'.

Blimey, does this owe tax as well??

No. Not so much 'I.O.U.'s' more 'I told you so's'

[Lost Leopard Spot]

No. I give up. He'll prove to himself that he's right no matter, because he's given at least three different "insider knowledge" explanations as to what's going on, depending on the tweet de jour.

[Il Pirate]

Where now Nicolas Anelka? Even at this late hour it's hard to take in the reality of just how far our club has been allowed to fall from grace. Overpaid players can hardly be blamed for their salaries being their fault. Greedy or no, they take what's on offer. Financially we've been allowed to destroy ourselves, the fault of the accountants and management, and our current position propping up the Championship from underneath the barrel reads like a Shakespeare tragedy. Where did it all go so wrong? I have this conversation with people on the streets locally and nobody can truly believe just how deep in the shxt we are. Ever the eternal optimist, I really never believed we could sink back to those lower division days again. We have done though....

+ 1.

A few short weeks ago, I was rather hoping ( & had convinced myself ) that Lennon would stumble upon, either by accident or design, a winning formula on the pitch. A few wins and we'd be out of the mire with a new season to start in tandem with new owners and fresh investment. Now I'm wondering just how far we may fall? The future looks grim, whatever the court result in a fortnight.

[BWFC_Insane]

No. I give up. He'll prove to himself that he's right no matter, because he's given at least three different "insider knowledge" explanations as to what's going on, depending on the tweet de jour.

There is only one person making up things that went on in court and it isn't me. The judge had to weigh up the evidence to decide if he thought payment of the tax bill was likely following the takeover. He clearly thinks there is enough evidence in place to suggest it is or he would have wound the club up.

A lot of that evidence was from the FL itself. Who clearly have concerns about ongoing funds but must believe initial funds are in place. Which is why they want monthly financial statements preparing till 2018.

[Lost Leopard Spot]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

[BWFC_Insane]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

Who says sports shield paid a portion of the tax bill? We don't know how that was paid. Only that it came out of the club's current account.

Secondly unless you know why and when an investor pulled out (it was also said in court that SS had replaced said investor) you simply cannot say. The investor may have pulled out because they didn't like the debt being left in to Eddie.

[Abdoulaye's Twin]

The master purveyor of speculation pulling up Spotty for a little speculation

[BWFC_Insane]

The master purveyor of speculation pulling up Spotty for a little speculation

Indeed.

I will speculate here, I have no proof but I suspect this is what happened.

Sports shield's plan all along was to buy the club and then give it loans secured against assets to protect their investors. Whilst risky they probably would have got away with it till Eddie wanted to leave 15M in as a secured debt. I suspect the football league looked at this and went 'err that is too much secured debt' for a business plan.

Then the stories came out that Eddie's demands were holding the deal up, which they partly were. Probably stories in fairness that came from Sports Shield.

The investor that pulled out probably did so because they were being asked to commit to unsecured loans to get the business plan through the FL. At the same time they probably put pressure on ED to convert to unsecured debt as well.

So I assume that the hold up has been agreeing the structure with the new investor and ED.

[Worthy4England]

Who are you and what have you done with BWFCi? What if ED's leave £15m in, was to prevent all the SS debt being secured against all the assets therefore not leaving all the claims to SS and their investors that they could flog the assets off to recoup? Based on him knowing that they only had £2.5m upfront and a £5m Wonga (as reported by various folks recently)...

[Jugs]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

This is the part I'm not understanding at the moment; why does it seem to be up to Sports Shield to pay the oustanding tax bill?

[Enoch]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

This is the part I'm not understanding at the moment; why does it seem to be up to Sports Shield to pay the oustanding tax bill?

If and when they become the owners they get the lot, debt and all.

'tis the way of the world.

They want it, or they don't. No one has forced them to bid for the club.

[BWFC_Insane]

Who are you and what have you done with BWFCi? What if ED's leave £15m in, was to prevent all the SS debt being secured against all the assets therefore not leaving all the claims to SS and their investors that they could flog the assets off to recoup? Based on him knowing that they only had £2.5m upfront and a £5m Wonga (as reported by various folks recently)...

I suspect it is there because ED wants a cut of a pie if the club is somehow miraculously turned around. Like an insurance policy for himself.

[Enoch]

Who are you and what have you done with BWFCi? What if ED's leave £15m in, was to prevent all the SS debt being secured against all the assets therefore not leaving all the claims to SS and their investors that they could flog the assets off to recoup? Based on him knowing that they only had £2.5m upfront and a £5m Wonga (as reported by various folks recently)...

I suspect it is there because ED wants a cut of a pie if the club is somehow miraculously turned around. Like an insurance policy for himself.

Oh ye of little faith.

[Jugs]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

This is the part I'm not understanding at the moment; why does it seem to be up to Sports Shield to pay the oustanding tax bill?

If and when they become the owners they get the lot, debt and all.

'tis the way of the world.

They want it, or they don't. No one has forced them to bid for the club.

It comes to something when rumours are circulating that Deano paid some of the tax with his bloody credit card. JC.

[Enoch]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

This is the part I'm not understanding at the moment; why does it seem to be up to Sports Shield to pay the oustanding tax bill?

If and when they become the owners they get the lot, debt and all.

'tis the way of the world.

They want it, or they don't. No one has forced them to bid for the club.

It comes to something when rumours are circulating that Deano paid some of the tax with his bloody credit card. JC.

I wonder if he maxed out?

[Enoch]

Is it just me.....

Another forces adage for preparation is the five P's; Prior Preparation Prevents Piss Poor Performance.

[thebish]

Is it just me.....

Another forces adage for preparation is the five P's; Prior Preparation Prevents Piss Poor Performance.

[Abdoulaye's Twin]

I would argue that. We know the players train and undergo preparation for matches...

[Jugs]

Sports Shield had an investor pull out. That titbit was revealed in court. The takeover didn't happen because Sport Shield were not in a position to complete the deal. It also meant that Sports Shield could only pay a portion of the tax bill. All that revealed in court. none of it revealed prior to court by Iles, Nixon or BWFC-i.
kind of a makes a nonsense of the oft repeated claim (which wasn't backed up in court) that the delay was all down to Eddie's last minute farting about.
And that is the last I'm saying on this matter. The very last. Ever. Until the next time.

This is the part I'm not understanding at the moment; why does it seem to be up to Sports Shield to pay the oustanding tax bill?

If and when they become the owners they get the lot, debt and all.

'tis the way of the world.

They want it, or they don't. No one has forced them to bid for the club.

It comes to something when rumours are circulating that Deano paid some of the tax with his bloody credit card. JC.

I wonder if he maxed out?

Whatever happened, it's another loan for the poor bastard to pay back!