Administration and recovery

[LeverEnd]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

[LeverEnd]

Wash on Monday,
Iron on Tuesday,
Bake on Wednesday,
Brew on Thursday,
Admin Update on Friday,
Mend on Saturday,
Go to meeting on Sunday.

Nae Craig David, are we?!

Didn't even take her for a drink for all those domestic chores, the chauvinist bastard.

[BWFC_Insane]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

Exactly. But the process still needs to be gone through. I find it hard to imagine anyone buying the hotel OTHER than someone who did it to block FV and also wanted their hands on the club....

[Worthy4England]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

Depends if you think you could fill it as part of a wider portfolio whether the Club was there or not. Reading's in the Madjeski isn't owned by the Club afaik. It does steady "business" related bookings through the week...

[BWFC_Insane]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

Depends if you think you could fill it as part of a wider portfolio whether the Club was there or not. Reading's in the Madjeski isn't owned by the Club afaik. It does steady "business" related bookings through the week...

Yeah its perfectly acceptable for the hotel to be run and owned by another group. The issue here is, lets say MacDonald hotels buy it - and FV therefore cannot complete on the club deal and the club is as a result liquidated - MacDonald hotels suddenly own a hotel that loses a significant portion of its income (from the club itself and related activities) in a stadium that will be targeted by property developers......are they going to pursue a deal given that substantial risk? I can't see it myself.

[Lost Leopard Spot]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

[Worthy4England]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

Depends if you think you could fill it as part of a wider portfolio whether the Club was there or not. Reading's in the Madjeski isn't owned by the Club afaik. It does steady "business" related bookings through the week...

Yeah its perfectly acceptable for the hotel to be run and owned by another group. The issue here is, lets say MacDonald hotels buy it - and FV therefore cannot complete on the club deal and the club is as a result liquidated - MacDonald hotels suddenly own a hotel that loses a significant portion of its income (from the club itself and related activities) in a stadium that will be targeted by property developers......are they going to pursue a deal given that substantial risk? I can't see it myself.

The point isn't whether you can see it. The point is whether one of the bid submissions saw it that way (which for all we know they may have done).

[Lost Leopard Spot]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

No hotel sale, no club purchase.
No club purchase, plans approved by EFL begin to swill down toilet.

[Worthy4England]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

No hotel sale, no club purchase.
No club purchase, plans approved by EFL begin to swill down toilet.

You're assuming that 4th investor either isn't real or isn't going to plug any gaps?

[LeverEnd]

I get that the hotel admins aren't involved with the club sale, but would you buy the hotel without knowing that the club is going to be in safe hands? If you buying the hotel causes the club to fail, you're not exactly on solid foundations are you?

Depends if you think you could fill it as part of a wider portfolio whether the Club was there or not. Reading's in the Madjeski isn't owned by the Club afaik. It does steady "business" related bookings through the week...

Yeah its perfectly acceptable for the hotel to be run and owned by another group. The issue here is, lets say MacDonald hotels buy it - and FV therefore cannot complete on the club deal and the club is as a result liquidated - MacDonald hotels suddenly own a hotel that loses a significant portion of its income (from the club itself and related activities) in a stadium that will be targeted by property developers......are they going to pursue a deal given that substantial risk? I can't see it myself.

Exactly, that's the risk I'm talking about. If the club doesn't start the season, the hotel is worthless. Maybe FV are grimly holding on to their preferred bidder status til Quantuma have to sell the the hotel.
Who knows? I'm just bored and guessing!

[LeverEnd]

* should say worth less, not worthless!

[Dave Sutton's barnet]

I was particularly thinking about what punishment beating they are going to give us regarding Brentford, with the additional insight into the internal Bolton clamour to down tools so recently shown.
I was thinking, if new owners were in charge by kick off time, they'd be kind. With Administrators in charge I reckon they'll be as harsh as gravel chippings on a fallen cyclist trying to negotiate a ninety degree bend at the bottom of a hill when doing top speed.

With the follow caveat that that pushes us close to Liquidation.

But m'learned friend has insisted for months that the League wouldn't add any extra punishment... even set up a poll...

viewtopic.php?f=4&t=26977

[BWFC_Insane]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

No hotel sale, no club purchase.
No club purchase, plans approved by EFL begin to swill down toilet.

You're assuming that 4th investor either isn't real or isn't going to plug any gaps?

Logically if the issue was funds to complete the club deal - FV would be able to do that without the hotel - since they'd have the money already to pay for the hotel....

The point of MJ being involved was to convert (some or all) of his debt to equity in the new co. making the deal significantly cheaper.

[Lost Leopard Spot]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

No hotel sale, no club purchase.
No club purchase, plans approved by EFL begin to swill down toilet.

You're assuming that 4th investor either isn't real or isn't going to plug any gaps?

I'm assuming the fourth investor doesn't have as much cash as Basran had. I'm assuming he's real - he's been named as our fellow traveller Morris Minor.
I'm also assuming that FV's plan is about as cash rich as Anderson's was.

[Lost Leopard Spot]

I was particularly thinking about what punishment beating they are going to give us regarding Brentford, with the additional insight into the internal Bolton clamour to down tools so recently shown.
I was thinking, if new owners were in charge by kick off time, they'd be kind. With Administrators in charge I reckon they'll be as harsh as gravel chippings on a fallen cyclist trying to negotiate a ninety degree bend at the bottom of a hill when doing top speed.

With the follow caveat that that pushes us close to Liquidation.

But m'learned friend has insisted for months that the League wouldn't add any extra punishment... even set up a poll...

viewtopic.php?f=4&t=26977

Correct-a-mundo. That was before our pathetic union of self-employed footballers started to think that having walk outs was de rigour, the silly wankers.
Once made a powerful point. Twice and thrice during silly season just destroys their argument.

[Lost Leopard Spot]

I was particularly thinking about what punishment beating they are going to give us regarding Brentford, with the additional insight into the internal Bolton clamour to down tools so recently shown.
I was thinking, if new owners were in charge by kick off time, they'd be kind. With Administrators in charge I reckon they'll be as harsh as gravel chippings on a fallen cyclist trying to negotiate a ninety degree bend at the bottom of a hill when doing top speed.

With the follow caveat that that pushes us close to Liquidation.

But m'learned friend has insisted for months that the League wouldn't add any extra punishment... even set up a poll...

viewtopic.php?f=4&t=26977

Correct-a-mundo. That was before our pathetic union of self-employed footballers started to think that having walk outs was de rigour, the silly wankers.
Once made a powerful point. Twice and thrice during silly season just destroys their argument.

* And I know Motherwell made my 'once' twice, and my twice and thrice, thrice and quantuple times but ny-nyer-nah-nyer-ner.

[Lost Leopard Spot]

And the elephant in the data room is that Mr James is using the amount he'll get from the hotel sale as collateral for the club purchase...

No hotel sale, no club purchase.
No club purchase, plans approved by EFL begin to swill down toilet.

You're assuming that 4th investor either isn't real or isn't going to plug any gaps?

Logically if the issue was funds to complete the club deal - FV would be able to do that without the hotel - since they'd have the money already to pay for the hotel....

The point of MJ being involved was to convert (some or all) of his debt to equity in the new co. making the deal significantly cheaper.

Have I mentioned circularity?...
Not sure I have

[Worthy4England]

It's only a circularity if the same pot is being used twice. MJ converting his debt to equity is not in itself a circularity.

[Lost Leopard Spot]

It's only a circularity if the same pot is being used twice. MJ converting his debt to equity is not in itself a circularity.

Indeed it isn't. I was indirectly addressing "Logically if the issue was funds to complete the club deal"...
Wheels within wheels at work.
Whether Mr Morris has enough actual cash to address the various issues I have no idea. But in my gut, I doubt it very much.

[Worthy4England]

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

Rubins' Admin proposal now up on Companies House shows us doing £13m Rev and losing £4.2m for year ended 13 June 2019...