The breaking News thread...

[bobo the clown]

Nixon has just tweeted something about Bolton but couldn't access the link. Think it's something to do with Burnden Leisure. Anybody enlighten us??

I think he said that he knew something, but couldn't reveal the detail right now but it'll come out tomorrow and we'll all be surprised.


Well, that's what he normally says.

[thebish]

Nixon has just tweeted something about Bolton but couldn't access the link. Think it's something to do with Burnden Leisure. Anybody enlighten us??

I think he said that he knew something, but couldn't reveal the detail right now but it'll come out tomorrow and we'll all be surprised.


Well, that's what he normally says.

[Worthy4England]

Bolton. Interesting. Page one of a charge put on Burnden Leisure by Essex lending company Blumarble

Dunno what it's about - 2 former RBS equity traders apparently Michael Henson and Stuart Wilson...maybe that's why the tax bill has been paid

[twilight]

Seems as thought money has been borrowed against assets the day that SS bought the club (signed by Holdsworth & Marland (whoever he is) -I could be reading it wrong though???

[Worthy4England]

Seems as thought money has been borrowed against assets the day that SS bought the club (signed by Holdsworth & Marland (whoever he is) -I could be reading it wrong though???

Marland is Football Secretary iirc. There were reports that SS bid was structured £5m "Wonga" loan + £2.5m that they may or may not have had themselves. This might be the "Wonga" bit - think it is, circa £5m @ 10% arrangement fee and eye-watering interest rate (reported in some quarters) ...That'd be a worry. We've only just paid one of them off..bizarrely enough the "who's who" on the Website was changed in the last day or two, too.

Most things updated, but the Chairman's position which was supposed to be Ken Anderson - is still marked TBC...and allegedly he's not rocked up yet...

Edit: Not sure why Marland would sign this as Football Secretary as opposed to Massey as FD...Can't actually pull the doc at the moment as Companies House website is down.

[twilight]

sorry worthy it could have been massey....looks like a payday kind of loan - blumarble the company...

[Worthy4England]

Nixon reckons it was Marland - don't get it...

[TonyDomingos]

Nixon has just tweeted something about Bolton but couldn't access the link. Think it's something to do with Burnden Leisure. Anybody enlighten us??

I think he said that he knew something, but couldn't reveal the detail right now but it'll come out tomorrow and we'll all be surprised.


Well, that's what he normally says.

Or in 48 hours, if it was Illes.

[Lord Kangana]

So is this a case of here we go again?

Forgive me, but years ago you weren't allowed to pay your tax bill by credit card - these days they have no scruples and will take anything thry can get - but if we cant afford the bill in first place, I cant see how making our finances even morr precarious will help?

Have I understood it correctly that we've borrowed?

[twilight]

It seems like it LK and looks like against Burnden Leisure?

[Worthy4England]

So is this a case of here we go again?

Forgive me, but years ago you weren't allowed to pay your tax bill by credit card - these days they have no scruples and will take anything thry can get - but if we cant afford the bill in first place, I cant see how making our finances even morr precarious will help?

Have I understood it correctly that we've borrowed?

Depends on what constitutes "can't afford" - we've no notion whether the assets it's secured against will end up changing hands or SS's sums add up and they can afford whatever the interest payments are. If I wanted to secure a loan against my granny flat asset to pay my tax bill, that's legit...course I could lose the asset, if I don't make the repayments...

[BWFC_Insane]

It is a secured loan. Unless we know the terms of that loan it isn't news. We knew this was a bid centred on secured loans.

[Worthy4England]

It is a secured loan. Unless we know the terms of that loan it isn't news. We knew this was a bid centred on secured loans.

It's news that we now know who it's to. It's news that it's secured against assets. It was reported by Nixon so it clearly MUST be news (and correct of course). If it was at payday rates and 10% admin fee, then that would be a worry, no? (We don't know that it is, but hey ho), we don't know what ED's last minute changes were but it didn't stop you rattling on about them and describing them as "news"...

[BWFC_Insane]

It is a secured loan. Unless we know the terms of that loan it isn't news. We knew this was a bid centred on secured loans.

It's news that we now know who it's to. It's news that it's secured against assets. It was reported by Nixon so it clearly MUST be news (and correct of course). If it was at payday rates and 10% admin fee, then that would be a worry, no? (We don't know that it is, but hey ho), we don't know what ED's last minute changes were but it didn't stop you rattling on about them and describing them as "news"...

We knew the money was secured against assets.

I'm not doubting anything. But the old board put in loans against assets. Without knowing the terms I don't think we've found out anything other than blumarble have lent the money. And not sure that tells us much.

[Worthy4England]

^^ The old Board owned the bloody assets they put the loans in against...

[TonyDomingos]

^^ The old Board owned the bloody assets they put the loans in against...

Who owns them now? I thought SS had bought them along with the club?

[Worthy4England]

^^ The old Board owned the bloody assets they put the loans in against...

Who owns them now? I thought SS had bought them along with the club?

Majority shareholders are Sports Shield Investments and Inner Circle Club according to the BWFC website. Strange that they aren't saying "outright owners"...The point I'm making is when we got loans of Moonshift, we had very good reason to believe that it was Eddie Davies' Trust - so effectively a related party transaction. The two dudes that have made this loan are neither Sports Shield Investments (Deano only listed Officer) and Inner Circle Club (website says) but I think it's meant to be Inner Circle Investments (only Ken Anderson listed Officer) - so this "loan" is from Blumarble - so not a related Company unless it's through some other web of intrigue...

[TonyDomingos]

^^ The old Board owned the bloody assets they put the loans in against...

Who owns them now? I thought SS had bought them along with the club?

Majority shareholders are Sports Shield Investments and Inner Circle Club according to the BWFC website. Strange that they aren't saying "outright owners"...The point I'm making is when we got loans of Moonshift, we had very good reason to believe that it was Eddie Davies' Trust - so effectively a related party transaction. The two dudes that have made this loan are neither Sports Shield Investments (Deano only listed Officer) and Inner Circle Club (website says) but I think it's meant to be Inner Circle Investments (only Ken Anderson listed Officer) - so this "loan" is from Blumarble - so not a related Company unless it's through some other web of intrigue...

Ah, thanks. Would it be a fair summary to say we're sailing close to sh!t street? Rhetorical question!

[Lord Kangana]

So is this in effect a leveraged buyout?

[BWFC_Insane]

^^ The old Board owned the bloody assets they put the loans in against...

Brett Warburton?