Administration and recovery

[bristol_Wanderer3]

https://www.thesun.co.uk/sport/football ... tures/amp/

At 3.8 and my tourettes is playing up...

[Whookam]

https://www.thesun.co.uk/sport/football ... tures/amp/

At 3.8 and my tourettes is playing up...

OH JESUS DUCKING CHRIST.

[bristol_Wanderer3]

I am thinking (hoping) that this is a click bait article and is mostly, or all, BS.

1.) The numbers don't make sense. If he is claiming he is prepared to pay ED Trustees £5.5m, and the remaining secured creditors £3m, that means that ED Trustees are getting 55% of their £10m, and the other secured creditors 40% (KA £5m, BW £2.5m). That is on the assumption £10m EDT debt (Fildraw debt from the 2016-17 accounts) is even payable in the event of administration, which isn't clear and previous articles have suggested this £10m has been negotiable, with the EDT just wanting done with the whole thing.

2.) If he is doing a deal with the secured creditors so they receive less than 100%, why would he pay the unsecured creditors 100%? Why would the secured creditors accept such a deal?

3.) How can he know his alleged deal is better than FV? The whole administration process has been under NDA.

4.) If he has the money why has he never presented proof of funds when he was meant to? He was given numerous deadlines before administration, and a very public deadline by the administrators who are legally bound to accept the best deal for the creditors and the club. If he had the money for the best deal he would've been chosen.

[Worthy4England]

Soooo offers closed two weeks ago. Under what mechansim does anyone think Bassini could make another offer? Like everyone else, he's had months...

[Bruce Rioja]

Soooo offers closed two weeks ago. Under what mechansim does anyone think Bassini could make another offer? Like everyone else, he's had months...

Reading between the lines, Worthy, and accepting that I'm possibly well off-beam here, the only conclusion I can reach is that Bassini did get his bid in on time, and being that he believes his bid to be the strongest by way of satisfying the creditors, and it being the primary role of the administrators to secure the best available outcome for the creditors, that Bassini's going to go down some sort of dereliction of duty route.

[officer_dibble]

Presumably Michael James has a significant role to play as one of the major creditors and wants the role on the FV board?

We don’t want this bell end Bassini FFS!

[Dave Sutton's barnet]

[Dave Sutton's barnet]

I mean, Bassini, man, even he can't keep up with which flavour of bollocks he's spouting.
https://www.theboltonnews.co.uk/sport/1 ... njunction/

Bassini says he can bring in a string of Premier League players if he gets control and – in contrast to his previous statement claiming he could get Wanderers back into the top-flight in three years – now says his latest plan is based on Championship football in five.

So he's bringing in half a team of Premier League players and it'll take half a decade to get one promotion?

[Worthy4England]

Soooo offers closed two weeks ago. Under what mechansim does anyone think Bassini could make another offer? Like everyone else, he's had months...

Reading between the lines, Worthy, and accepting that I'm possibly well off-beam here, the only conclusion I can reach is that Bassini did get his bid in on time, and being that he believes his bid to be the strongest by way of satisfying the creditors, and it being the primary role of the administrators to secure the best available outcome for the creditors, that Bassini's going to go down some sort of dereliction of duty route.

Not unreasonable Brucie, but I would expect that neither bid has a full ££25m in a bag (Bassini already suggested he didn't have more than £14 previously) , so admins extrapolating what they think is best. Maybe they have best for EDT and not Anderson, feels somewhat pawn in a game..

[LeverEnd]

Let's hope the Bassini thing gets wrapped up quickly. I don't care how much he pisses and moans as long as no court entertains him.
Have a feeling his endgame will feature Gazza with a chicken and a couple of fishing rods.

[Dave Sutton's barnet]

Bassini already suggested he didn't have more than £14 previously

Sounds about right

He was worrying when he was the main hope, irritating when he hung around when the grown-ups returned, but now he's becoming dangerously like a blocker

Still, rather him than Anderson

[TANGODANCER]

I've been trying ( obviously not alone) to reason out just why Bassini seems so desperate to own Bolton Wanderers? As a business venture it surely, at this moment in time, seems not quite blue-chip level for anybody. (I always thought chips were golden brown anyway?), yet a neutral observer could be forgiven in thinking Mr Bassini is on some sort of an enigmatic Grail mission? The people involved with personal interest from loyalty and love of a club are understandable, Bassini very much less so. Has oil been secretly discovered under the centre spot at the Unibol, or has he heard the super undercover plans for a new northern branch of Harrods? All more than a bit baffling to say the least. His latest mumblings of high-court action might smack of comedy if it all weren't so flaky. Get it sorted, please, pretty please with pea-wet, scraps and salt and vinegar.

[Lost Leopard Spot]

Bassini is attracted to controversy like a trout to a fly. Especially if he can spout bollox about taking people to court... That's his hobby, the sad fxcker.

[Dave Sutton's barnet]

I have my suspicions about Loz's behaviour and psychology, but I shan't post them because as you say the dude loves a court case

[Branagan]

Also, I think it's important to note, that pic of Bassini that BEN uses looks like he's trying to stifle a fart.

[DJBlu]

I think Bassini is after some sort of court payout.

Threatening to take every man and his dog to court.

[Dave Sutton's barnet]

I think Bassini is after some sort of court payout.

Threatening to take every man and his dog to court.

Possible but a rather dangerous game to play considering he's claiming the desire to be a benefactor. What if his bluff's called?

[Dave Sutton's barnet]

For those of you who care, Nixon has been busy this morning, and appears strangely pro-Bassini(&Co). His responses in bold, questions not in bold.

Bolton. In all of the Bassini hostility a key point gets missed. His local partners want to make sure local businesses get paid in full. And the tax. Try thinking it through for a change.

as a complete outsider, why on earth would any businessperson (local or not) with a modicum of sense work with somebody with Bassini's track record?
There are reasons for that. Not the time or place to go into it.

Why would they back him though and why now? Any of those could have bid themselves but as far as we know rhey didn't.
A lot of people unhappy with proposed offer of 25p in pound. Many were ok with admin as an idea. But reality kicking in about what admin means and effects on some. Now some local guys have come forward.

But it was final and best bids weeks ago.. why didn’t he submit a bid to meet that deadline, as instructed? He shouldn’t now be given special dispensation to submit another bid after the deadline and hold up the process even longer? Season starts in 4 weeks
The offer yesterday came after a quick alliance with local business people.

Sorry Al but usually I agree with you but here not....the deadline for bids was 12 June. And the local business people are not interested in running a football club. Unless they had a sudden epiphany. They are interested in expanding their retail site though....
The local people involved know the impact of the admin pay out on business. They also know the goodwill NEEDED in future will be damaged.

Anyone knows admin means 25p in pound for unsecured creditors...if they didn’t know that then I think we should stop listening to them. It was bandied about on twitter for months....
There is now an offer of 100p in the pound.

Did these local business people not know about this before admin? The rest of the country seemed to understand what admin would bring. I wouldn’t mind this if it didn’t involve Bassini. Doesn’t smell right.
Sometimes you need strange alliances to get a job done.

The guy he’s now in with could of bought the club at anytime. Probably just wants the land and close us for good.
Plural. Several.

Empty promises, he promised to pay the players and never did that, doing what he’s doing will f**k the club over not save it
It’s not just Bassini. Jeez.

Think it through? He’s had two previous opportunities to show proof of funding to the EFL and buy us solvent. He failed to do so, while making a mockery of himself and our club on national television. Making our situation worse for EVERYONE involved by making false promises.
There are OTHER people involved.

Absolutely appreciate that but surely you can appreciate the cynicism. I’d love all to get paid 100% owed. I don’t understand the timing and I don’t understand his obsession for the club. We shall see what happens.
For about the 100th time the move yesterday wasn’t just him. Things develop quickly in this. And have changed even more since. It’s mental.

Fair play Al. Not digging you out at all. Difficult without being fully aware of all involved and how this has developed. Appreciate the Emerson involvement changes the landscape too. Just want the right person to stabilise and take us forward...don’t actually care who it is
It’s not just Jones either. It all came together. It could just as easily all fall apart. And then there’s the hotel ...

Well can we have a bit of an update please if things have changed?
Once the latest dramas settle down. Maybe later this aft.

[Lost Leopard Spot]

Nixon talks Bullshit.
Bassini is Bullshit.
Iles hasn't a clue.
Where the fxck is The Big Reveal???

[Dave Sutton's barnet]

Not BWFC, but might (eventually) be relevant: more "unexpected consequence" stuff as the League's financial rules encourage clubs to sell their ground to the owner. And if he's a bad man...

https://www.thestar.co.uk/sport/footbal ... ough-53089