Ken Anderson - Old Owner (Definitely. For Ever ..... )
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- TonyDomingos
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
That's why they call him DSBosom. Fact.LeverEnd wrote:He definitely intitiated things.
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!
- Worthy4England
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
We're getting pretty close to your actual 48 hours left before the submit the accounts day... JSL.
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
To be clear this was a deal negotiated by the previous board that at the Q&A Ken openly described as "ridiculous" and he said at that time "this one could well end up in court".Hoboh wrote:Seems they had little choice in the matter to be fair, play hardball with people you owe money to and you usually come unstuck eventually.TANGODANCER wrote:Some progress somewhere....???
http://www.theboltonnews.co.uk/sport/15 ... ef=mr&lp=1" onclick="window.open(this.href);return false;
As much as there are things to be concerned about, this is fairly low on the list. Frankly, Ken is clearly trying to wriggle out of poor deals on the last lots watch.
The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options is more concerning, IMHO.
Re: Ken Anderson - New Owner (Definitely. For Now ..... )
To be clear, The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options the only saving grace is a few points in the bag and a decent league position that the wrong injury now will ruin.BWFC_Insane wrote:To be clear this was a deal negotiated by the previous board that at the Q&A Ken openly described as "ridiculous" and he said at that time "this one could well end up in court".Hoboh wrote:Seems they had little choice in the matter to be fair, play hardball with people you owe money to and you usually come unstuck eventually.TANGODANCER wrote:Some progress somewhere....???
http://www.theboltonnews.co.uk/sport/15 ... ef=mr&lp=1" onclick="window.open(this.href);return false;
As much as there are things to be concerned about, this is fairly low on the list. Frankly, Ken is clearly trying to wriggle out of poor deals on the last lots watch.
The fact we are still in embargo, our rivals are all strengthening their squads and we are weaker than we were with very limited options is more concerning, IMHO.
Last edited by Hoboh on Mon Jan 30, 2017 11:02 pm, edited 1 time in total.
- officer_dibble
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
To be clear...
Nothing clear about anything really, albeit this regime is more 'public' than the last one.
Nothing clear about anything really, albeit this regime is more 'public' than the last one.
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I think that issue was explained as clearly as Ken could at the Q&A without detailing what deal the previous board had done...though that was in the press.officer_dibble wrote:To be clear...
Nothing clear about anything really, albeit this regime is more 'public' than the last one.
- officer_dibble
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
The clearest thing they could do is submit the accounts and get the embargo lifted.
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.
Ken's in no rush to file those accounts for a reason.
Ken's in no rush to file those accounts for a reason.
Businesswoman of the year.
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I genuinely don't think that's the case.CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.
Ken's in no rush to file those accounts for a reason.
I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.
- Worthy4England
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
It may not be the case that they're not filed because the Manager would be knocking on the door.BWFC_Insane wrote:I genuinely don't think that's the case.CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.
Ken's in no rush to file those accounts for a reason.
I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.
It's almost certainly the case that they've not been filed "for a reason".
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Aye. No doubting that. I suspect the audit has been rather tricky given the mess the club was left in. I heard that at point of sale nobody had a clue what the club owed to its creditors.Worthy4England wrote:It may not be the case that they're not filed because the Manager would be knocking on the door.BWFC_Insane wrote:I genuinely don't think that's the case.CrazyHorse wrote:The sooner that embargo is lifted the sooner the manager will be knocking on the chairman's door asking for a transfer kitty.
Ken's in no rush to file those accounts for a reason.
I think he's a clever operator who doesn't want to pay more for anything than possible, hence the quibbling with Deano. But I'm positive he knows our best chance of promotion is this season. And his best chance of getting anything out of this is if we get promoted.
It's almost certainly the case that they've not been filed "for a reason".
I imagine that is and has taken some significant untangling.
- dave the minion
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
For a company to file its accounts on a "going concern" basis, it has to convince the auditors that it has the financial means to survive from the 12 months from the date of signature. If they can't do this then either the auditors qualify the accounts (bad) or they have to prepare the accounts on a "break up basis" - which means they present the company as expecting to be wound up in the next 12 months (worse).
I suspect - and I have no insider knowledge - the current delay is basically to keep stalling whilst Ken sorts out some outside investment, which will then convince the auditors that the company is viable for 12 months....
This doesnt mean without the investment that the club folds - Ken and others can keep propping it up - but as the funding isn't guaranteed then the auditors would not be able to rely on it, hence not sign the accounts.
Either way though, and whatever the outcome, things clearly aren't rosy in the Bolton garden......
I suspect - and I have no insider knowledge - the current delay is basically to keep stalling whilst Ken sorts out some outside investment, which will then convince the auditors that the company is viable for 12 months....
This doesnt mean without the investment that the club folds - Ken and others can keep propping it up - but as the funding isn't guaranteed then the auditors would not be able to rely on it, hence not sign the accounts.
Either way though, and whatever the outcome, things clearly aren't rosy in the Bolton garden......
- Worthy4England
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Haven't they already answered the question of "going concern" for the 12 months following the Accounts given they were due for 30 June 2015 and 30 June 2016 has passed and we were still here...dave the minion wrote:For a company to file its accounts on a "going concern" basis, it has to convince the auditors that it has the financial means to survive from the 12 months from the date of signature. If they can't do this then either the auditors qualify the accounts (bad) or they have to prepare the accounts on a "break up basis" - which means they present the company as expecting to be wound up in the next 12 months (worse).
I suspect - and I have no insider knowledge - the current delay is basically to keep stalling whilst Ken sorts out some outside investment, which will then convince the auditors that the company is viable for 12 months....
This doesnt mean without the investment that the club folds - Ken and others can keep propping it up - but as the funding isn't guaranteed then the auditors would not be able to rely on it, hence not sign the accounts.
Either way though, and whatever the outcome, things clearly aren't rosy in the Bolton garden......
- dave the minion
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I thought the same, but I have it on good authority (accountant at work..) that the rules are now 12 months from the date of signing, not 12 months from the date of the year end....
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
http://www.bwfc.co.uk/news/article/2016 ... 45599.aspx" onclick="window.open(this.href);return false;
We are going to be under embargo for a LONG, LONG time it seems.
Next season could be fun....
We are going to be under embargo for a LONG, LONG time it seems.
Next season could be fun....
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Pretty strange how we seem very strapped for cash, but are managing to reacquire the car parks and the offices, and pay off a loan. It seems pretty clear that the deal DH did to save the club from administration was only a temporary fix and if anything created more issues than it resolved. Obviously DH was the only person around with the desire to step in in our darkest hour so we have to thank him for that.
All in all this is the kind of update I personally want to see from KA, so credit to him for that. We are clearly still in a big mess.
All in all this is the kind of update I personally want to see from KA, so credit to him for that. We are clearly still in a big mess.
- Worthy4England
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
I'm guessing the Accounts won't be out "by the end of the month" then...
It does sound like most things are progressing albeit maybe not as quick as we'd like. The real big bugbear looks to be the arrangement with KA/DH/Blumarble.
It does sound like most things are progressing albeit maybe not as quick as we'd like. The real big bugbear looks to be the arrangement with KA/DH/Blumarble.
- officer_dibble
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Re car park/office We wont be paying for one without receiving income in another way, through a drop in rates for example.
Its the stuff on bluemarble that bothers me the most to be honest.
Its the stuff on bluemarble that bothers me the most to be honest.
- BWFC_Insane
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Re: Ken Anderson - New Owner (Definitely. For Now ..... )
Really? It sounds to me like the complete opposite. None of this can be sorted till the Blumarble/sports shield issue is. IF that is going to court, how long will that take to resolve? And how do we finance the club in the meantime. Given Ken's re-financing options appear to hinge on him owning all the shares.Worthy4England wrote:I'm guessing the Accounts won't be out "by the end of the month" then...
It does sound like most things are progressing albeit maybe not as quick as we'd like. The real big bugbear looks to be the arrangement with KA/DH/Blumarble.
That doesn't sound like it is happening anything like how Ken originally painted it. And whilst clearly Ken isn't to blame, how long can he keep paying the wage bill for out of his own pocket?
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