Administration and recovery

[BWFC_Insane]

Can I also add that assuming Iles is correct and creditors have voted overwhelmingly for the admins proposals - it means Nixon's bullshit about EDT not being happy, about creditors in general not being happy and that there was "no offer for them to vote on" - is complete and utter nonsense. And has been for the past few weeks when he's been saying it.

[Dave Sutton's barnet]

Can I also add that assuming Iles is correct and creditors have voted overwhelmingly for the admins proposals - it means Nixon's bullshit about EDT not being happy, about creditors in general not being happy and that there was "no offer for them to vote on" - is complete and utter nonsense. And has been for the past few weeks when he's been saying it.

True. And I'm not here to defend Nixon, but on a purely linguistic standpoint, overwhelming does not mean unanimous. It could well be, for instance, that FV was voted for by every creditor except EDT. That would be overwhelming.

Or - and here's something a lot of people forget - maybe things have changed, and what was reported is no longer true.

Anyway, the most important change is to get the deal over the line and start building a squad.

[Worthy4England]

Can I also add that assuming Iles is correct and creditors have voted overwhelmingly for the admins proposals - it means Nixon's bullshit about EDT not being happy, about creditors in general not being happy and that there was "no offer for them to vote on" - is complete and utter nonsense. And has been for the past few weeks when he's been saying it.

I don't think you're giving him the benefit of "timing" here. It was only 10 July that the formal "offer" went out. There's also a world of difference between accepting something and being happy about it!

[Enoch]

So... It's a Morris Minor we've got then. Is he half timbered?

He's been around a bit.

[BWFC_Insane]

Can I also add that assuming Iles is correct and creditors have voted overwhelmingly for the admins proposals - it means Nixon's bullshit about EDT not being happy, about creditors in general not being happy and that there was "no offer for them to vote on" - is complete and utter nonsense. And has been for the past few weeks when he's been saying it.

True. And I'm not here to defend Nixon, but on a purely linguistic standpoint, overwhelming does not mean unanimous. It could well be, for instance, that FV was voted for by every creditor except EDT. That would be overwhelming.

Or - and here's something a lot of people forget - maybe things have changed, and what was reported is no longer true.

Anyway, the most important change is to get the deal over the line and start building a squad.

EDT as the largest secured creditor would hold the majority of the vote though wouldn’t they? Anyway we know Nixon has been wrong here.

[Dave Sutton's barnet]

More from Lorenzo's toil: Iles' report on Bassini's, er, rally.

https://www.theboltonnews.co.uk/sport/1 ... -not-stop/

I have been told today that we are going to serve a specific performance to get this deal done,” he said. “My solicitors talked about an injunction, but I am not going to have it, even though there is a threat of it, because I don’t want to be the cause of this club if it goes down, for it to have an excuse.

I am even willing to pay the players and if I get my money back, I get my money back, to keep this club going because I love it as much as you guys. I love football and I care. Whoever thinks I’m mad, and all the rest of it, but I’m not mad. I care.

I don’t even have to own it – let me bring in 10 or 12 players. I don’t have to own this club.

I will not stop. I am going to step in. If they are not going to do this, if they had £25m what has the hotel got to do with it three weeks later? One of the guys who had the funding pulled out and I’d like to see the money that was in a bank account, according to them. I am not doing it for money. There is no money in this for me.

[why are you doing this, Laurence?] Why? Because it took to me when I was here and the people are real.

[Worthy4England]

Now. If he wants to lob in £25m without getting his money back and zero involvement - then he just needs to write the cheque...

[Lost Leopard Spot]

So... It's a Morris Minor we've got then. Is he half timbered?

He's been around a bit.

Is that a euphemism for he's been clocked, got dodgy gears, and costs more in maintenance than he's worth?

(We need a Ferrari not an Oldsmobile).

[Lost Leopard Spot]

The People Are Real.
'ts my new motto.

[Worthy4England]

Hadn't spotted this - but anyone wanting the gory details of the Hotel Admin's proposal - it's on Companies House...

https://beta.companieshouse.gov.uk/comp ... ng-history

[Lost Leopard Spot]

Hadn't spotted this - but anyone wanting the gory details of the Hotel Admin's proposal - it's on Companies House...

https://beta.companieshouse.gov.uk/comp ... ng-history

We already knew that, didn't we? I'm losing track of what we know and what we don't... But it has been published on here previously that Quantuma are predicting a wedge of £499,873.75p in their back pocket - I do believe I specifically castigated the fxckers for this.
I also believe that 15.33p in the £ has also been previously mentioned.
I see nothing else that's new either, that hasn't been discussed.
(And no, I'm not saying that you you are saying there is).

[Worthy4England]

Hadn't spotted this - but anyone wanting the gory details of the Hotel Admin's proposal - it's on Companies House...

https://beta.companieshouse.gov.uk/comp ... ng-history

We already knew that, didn't we? I'm losing track of what we know and what we don't... But it has been published on here previously that Quantuma are predicting a wedge of £499,873.75p in their back pocket - I do believe I specifically castigated the fxckers for this.
I also believe that 15.33p in the £ has also been previously mentioned.
I see nothing else that's new either, that hasn't been discussed.
(And no, I'm not saying that you you are saying there is).

I had only seen some of the detail posted online (such as the 15.33p offer) - hadn't seen the full report - so yeah some of the stuff was known.

[Enoch]

So... It's a Morris Minor we've got then. Is he half timbered?

He's been around a bit.

Is that a euphemism for he's been clocked, got dodgy gears, and costs more in maintenance than he's worth?

(We need a Ferrari not an Oldsmobile).

Der! He's a Traveller.

[Lost Leopard Spot]

So... It's a Morris Minor we've got then. Is he half timbered?

He's been around a bit.

Is that a euphemism for he's been clocked, got dodgy gears, and costs more in maintenance than he's worth?

(We need a Ferrari not an Oldsmobile).

Der! He's a Traveller.

oh dear...

[Dave Sutton's barnet]

Football economics lecturer Kieran "Price of Football" Maguire has had a nosey through the numbers. Worth perusing this Twitter thread (not just reading the top tweet): he even does jokes. (Sorry Bruce, too much to copy & paste.)

[Harry Genshaw]

^ makes things look even more unsavoury.

Did I read that correctly? Administrators are paying agents a retaining fee to do, amongst other services, persuade players to walk away from their contracts?

[BWFC_Insane]

Not sure there is much there that wasn't known already. Insolvency is a business that administrators do very well out of. That isn't a surprise. Its not a cheery thought but its the way it is and goes on day after day after day yet only is highlighted when a public interest company like a football club ends up in peril.

The only real thing of note is the Luca Connell fee appears to be £200K (minus £42K going to the admins).

I bet overall thats a loss on the player when taking into account wages, development costs etc...once again - what is the point of an academy when it doesn't come close to making its money back?

[Dave Sutton's barnet]

^ makes things look even more unsavoury.

Did I read that correctly? Administrators are paying agents a retaining fee to do, amongst other services, persuade players to walk away from their contracts?

You read the words correctly, but perhaps not the intent. I assumed it meant "rather than sue for moneys owing". For instance, if someone had persuaded Amos to walk away two or three years ago.

[Dave Sutton's barnet]

The only real thing of note is the Luca Connell fee appears to be £200K (minus £42K going to the admins).

Hmm - I read that as Celtic paying us £42,000 down on a promise of £200,000 over the course of Connell's contract. That's how most transfers are done - not one lump sum but a downpayment and instalments thereafter.

[BWFC_Insane]

The only real thing of note is the Luca Connell fee appears to be £200K (minus £42K going to the admins).

Hmm - I read that as Celtic paying us £42,000 down on a promise of £200,000 over the course of Connell's contract. That's how most transfers are done - not one lump sum but a downpayment and instalments thereafter.

Ah maybe I misread.