Ken Anderson - Old Owner (Definitely. For Ever ..... )

[TANGODANCER]

You certainly have much more of financial understanding then me Spots, but I can't get away from the question of why a financial wizard/multi millionaire business man like Eddie Davies ever allowed things to get into such a mess in the first place. I'm not speaking ill of the deceased, but somewhere along the line Phil Gartside and ED right royally screwed up and left us in deep shxte long before Dean Holdswoth/Ken Anderson ever got near things. We also have a Warburton, another experienced business man on the board of directors do we not? Not only did we end up in a monstrous financial mess, but our standing as a once-proud football club has gone down the drain along with our player power and reputation. It's supposed to be about football, yet it seems it's all about financial gamblers and wheeler-dealers chasing personal gain. A long, long way from Christ Church and Pikes Lane is it not?

[Lost Leopard Spot]

You certainly have much more of financial understanding then me Spots, but I can't get away from the question of why a financial wizard/multi millionaire business man like Eddie Davies ever allowed things to get into such a mess in the first place. I'm not speaking ill of the deceased, but somewhere along the line Phil Gartside and ED right royally screwed up and left us in deep shxte long before Dean Holdswoth/Ken Anderson ever got near things. We also have a Warburton, another experienced business man on the board of directors do we not? Not only did we end up in a monstrous financial mess, but our standing as a once-proud football club has gone down the drain along with our player power and reputation. It's supposed to be about football, yet it seems it's all about financial gamblers and wheeler-dealers chasing personal gain. A long, long way from Christ Church and Pikes Lane is it not?

It's definitely a long way from Pikes Lane. But somebody has to put the money in, and usually (mostly) people with that amount of money want more.
I'm not of the opinion that ED screwed us over. It might not have been the most prudent way to run a football club, and the end was messy and ugly, but I think he gave us a decent period of (to us as fans) mainly financially worry free years.

[TANGODANCER]

You certainly have much more of financial understanding then me Spots, but I can't get away from the question of why a financial wizard/multi millionaire business man like Eddie Davies ever allowed things to get into such a mess in the first place. I'm not speaking ill of the deceased, but somewhere along the line Phil Gartside and ED right royally screwed up and left us in deep shxte long before Dean Holdswoth/Ken Anderson ever got near things. We also have a Warburton, another experienced business man on the board of directors do we not? Not only did we end up in a monstrous financial mess, but our standing as a once-proud football club has gone down the drain along with our player power and reputation. It's supposed to be about football, yet it seems it's all about financial gamblers and wheeler-dealers chasing personal gain. A long, long way from Christ Church and Pikes Lane is it not?

It's definitely a long way from Pikes Lane. But somebody has to put the money in, and usually (mostly) people with that amount of money want more.
I'm not of the opinion that ED screwed us over. It might not have been the most prudent way to run a football club, and the end was messy and ugly, but I think he gave us a decent period of (to us as fans) mainly financially worry free years.

Oh aye, nobody could have done more for Bolton than he did and it cost him an obscene amount of money to do it. Don't get me wrong on that. I just can't understand why we're in such a right royal mess regardless? Like all football/sport, the millions go into the greedy pockets of managers, agents and players telling the world what they're worth, and not the club funds and upkeep. Give the lot £500 per week and they'd all take up cricket, tennis or golf. Anyway, as you were.

[BWFC_Insane]

You certainly have much more of financial understanding then me Spots, but I can't get away from the question of why a financial wizard/multi millionaire business man like Eddie Davies ever allowed things to get into such a mess in the first place. I'm not speaking ill of the deceased, but somewhere along the line Phil Gartside and ED right royally screwed up and left us in deep shxte long before Dean Holdswoth/Ken Anderson ever got near things. We also have a Warburton, another experienced business man on the board of directors do we not? Not only did we end up in a monstrous financial mess, but our standing as a once-proud football club has gone down the drain along with our player power and reputation. It's supposed to be about football, yet it seems it's all about financial gamblers and wheeler-dealers chasing personal gain. A long, long way from Christ Church and Pikes Lane is it not?

Its not that hard to see. Initially Eddie came in with the club in crisis. He invested, relatively modest amounts to help the club. The money was not for the 1st team but to pay bills, improve the academy etc....longer term relatively modest stuff and immediate loans to keep the club afloat. Gartside brought in Allardyce, sold lots of players, club ran sustainably found success on the pitch too. Allardyce wanted more money as time went on, to fuel his "ambition". Eddie provided money to buy the likes of Anelka and Diouf etc....then Allardyce wanted even more money, Eddie thought "hang on a second" and Allardyce went. Then 6 months later the club was in trouble about to drop out of the premiership (which had just seen another influx of cash from a new TV deal) the spoils of staying up larger than ever. So Eddie, probably thought, better had strengthen this squad - wise investment. But it needed more and more. Managers squandered money. Club eventually went down. Eddie by now in for over 100M quid. Still, go back up and a lot of that would come back. Spent some more. Didn't go up and now had an inflated wage budget to support. Carried on doing so. Eventually got to the point where for whatever reason he decided enough was enough.

[LeverEnd]

Anyway Ken has issued his weekly love letter to us fans.
This should clear everything up nicely a d give us the answers we've been waiting for...

https://www.bwfc.co.uk/news/2017/august ... chairman5/

Oh....

[Hoboh]

Anyway Ken has issued his weekly love letter to us fans.
This should clear everything up nicely a d give us the answers we've been waiting for...

https://www.bwfc.co.uk/news/2017/august ... chairman5/

Oh....

Why the hell does he always try and look like Don Corleone?

[Lost Leopard Spot]

Anyway Ken has issued his weekly love letter to us fans.
This should clear everything up nicely a d give us the answers we've been waiting for...

https://www.bwfc.co.uk/news/2017/august ... chairman5/

Oh....

Why the hell does he always try and look like Don Corleone?

I don't think he tries, he's just naturally got cotton wool pads stuffed in his cheeks.

[nelson66]

When Birmingham City holding company went bump - the club was still a going concern - and the club wasnt insolvent - and therefore didnt get a points deduction.
See http://www.bbc.co.uk/news/uk-england-bi ... m-31504347

I see that we are in a similar position right now
I hope the football league see it in a similar way and don't dock us any points

[dave the minion]

Key difference though - Birmingham's parent co had not been liquidated or gone bust, just called in the receivers (essentially to run it for them and try to sell it) - it was still a going concern and could theoretically fulfill its obligations.

SSBWFC has gone pop completely and now no longer exists.. football leage may take a dimmer view of this than Birmingham's situation? On the plus side, its only the 37.5% owner thats gone pop, and the majority owner is still going...

[Bruce Rioja]

SSBWFC has gone pop completely and now no longer exists.. football leage may take a dimmer view of this than Birmingham's situation? On the plus side, its only the 37.5% owner thats gone pop, and the majority owner is still going...

I wonder if they'll deduct us 3.75 points?!

[nelson66]

Its all gone quiet now - I wonder who is rummaging down the back of the sofa for a few quid ?

[Bruce Rioja]

The Kenster basically has nowt to say but says it anyway...................

https://www.bwfc.co.uk/news/2017/august ... chairman6/

[LeverEnd]

The Kenster basically has nowt to say but says it anyway...................

https://www.bwfc.co.uk/news/2017/august ... chairman6/

Pointless waffle.

[TANGODANCER]

Who's who? Great job of identifying the V.I.P's for the readers.

http://www.theboltonnews.co.uk/sport/wa ... rs_shares/

[bristol_Wanderer3]

So if KA wants £5m for his 57.5% stake, and it costs £7m (Blumarble debt including interest to date) to get DH's 37.5% from the liquidator (one assumes that could be neogtiated down), then 95% of the club is worth £12m tops, £13m if we stay up. This values the club at around £12.6m (£13.6m). With the club running at close to break even, Blumarble paid only around £10m of short term debt (PBP loan, and overdraft being the main items according to the last accounts), and some further long term debt payable to ED, this seems to be a fantastic deal when compared to other clubs.

Southampton, and West Brom have recently been sold for sums reported to be £150m - £200m. Notts Forest are reported to have had an offer of £50m refused for the club before accepting an offer from the current Greek owner. One assumes those clubs were relatively debt free, but still in comparison we look a very attractive proposition imho.

I didn't read it as Ken wanting £5M for his 57.5% stake. I read it as Ken wanting money to let a potential investor (buyer of Holdsworths 37.5%) view the accounts and then a £5M cash injection into the business.

Ken's 57.5% wasn't up for grabs in the court process, it was the SSBWFC 37.5% that was being discussed.

Ken may well be prepared to sell his, but my reading of it was someone wanted to buy the 37.5% and to do so Ken asked for a fee to read the accounts and a guarantee of cash injection into the business. I suspect the demands were somewhat lower than is stated, and possibly more proof of future funding. Both sides are trying to make the other look the villain.

http://www.theboltonnews.co.uk/sport/wa ... ship_race/

From the latest BEN article on the issue it does sound like the potential local investor, now reported as Shabbir Khilji, does want to assume full ownership of the club.

Some worrying statements regarding the future of the club are also being uttered:

Ken says "There may be some tough and unpleasant decisions that still need to be made in the future, but as in the past, they will be made with the very best intentions for the future of the club and associated businesses.”

Cllr John Walsh says "Alan and I are lifelong supporters of the football club, having both been supporters for more than 60 years, and our involvement was simply as friends of the football club. Our objective has always been to secure the long-term future of the football club, which is reported to be in grave jeopardy, and to avoid its impending demise."

Whatever is really going on in this convoluted mess, it sounds like the clear danger the club was in 18 months ago is still there despite the success of last season on the field. Imagine had we not been promoted!!

[BWFC_Insane]

What I will say, and this isn't necessarily anti-Ken, but Ken is demanding assurance of future funding from anyone looking to buy the club. However, Ken himself, bought the shares for £1 and by his own admission hasn't invested a single penny into the club. In the 18 months he's been here he has been unable to provide funding assurance and such hasn't been able to get us out of embargo.

To suggest ones looking to buy the club are unsuitable is probably accurate. But Ken hasn't shown that he has the means to take us forward either.

Not saying he's done a bad job. Just that his current missive is a little rich, considering.....

[LeverEnd]

Mudslinging again. Every time he releases one of those columns I dislike him a bit more.
And I don't believe a single word of any of it. I think he'd gamble the existence of the club to try and wring an extra quid out of the deal.
I also think he'll be looking to flog the ground or hotel to raise the funds for a full takeover. He talks about further unpleasantness, and that would be my guess. The players are worth fcuk all.

[BWFC_Insane]

Mudslinging again. Every time he releases one of those columns I dislike him a bit more.
And I don't believe a single word of any of it. I think he'd gamble the existence of the club to try and wring an extra quid out of the deal.
I also think he'll be looking to flog the ground or hotel to raise the funds for a full takeover. He talks about further unpleasantness, and that would be my guess. The players are worth fcuk all.

In fairness I think he was responding to the talk in the media. I don't have a problem with what he says. My issue is that the format he chooses doesn't allow for any questioning. The obvious one being, if you are trying to buy the shares, what funding do you have in place?

I think that question is a serious one that now needs asking. Though of course, should Ken not get them we are into the unknown big time. Frying pan and fire springs to mind here.

[LeverEnd]

I give up trying to make head or tail of it. The season is looking like a write off already. We'll see what happens at some point I suppose but I'm expecting nothing good.

[nelson66]

This bloke has been bragging to a business acquaintance of mine that he is buying The Wanderers this summer...Shabbir Khiljee from Bolton ... he certainly has the £££ and the right connections

http://www.theboltonnews.co.uk/news/bus ... hone_firm/

Who knows - he could be telling the truth or just bigging himself up

Looks like he has now officially chucked his hat into the ring -- Am getting that Venkys feeling -- Can this mess get any worse ?