The Debt.

[Lord Kangana]

Again, just before we get carried away, this doesn't mean I am endorsing the administration route, but the suggestion that ED would get nothing from it is not true. What he would get is certainly up for debate and changeable.

[Prufrock]

But whatever the sum of money he'd get....he's paying for!

He owns BL. He owns Moonshift. If BL pay Moonshift money, however it's done, he pays himself the money. Why do you think the money is any more use to him with Moonshift than BL, and if that were the case, why has he just agreed that BL don't need to make any interest payments on the loan?

Why on earth would he go to so much trouble to give one company he owns money from another company he owns?

[BWFC_Insane]

Er, no we haven't. In administration the principle creditors (those who are owed money) will be made an offer of p/£. That could be 100. It could be 1. Moonshift is the principle creditor. What Moonshift then do with that money is entirely up to their directors and shareholders, and what, if any loans may or may not have been made to it. Etc etc. It becomes a Moonshift issue.

Are we sure that the rules of administration would allow one company Eddie owns to pay the other? I'm not convinced that would be allowed in reality.

[Lord Kangana]

You need to brush up on what administration means then.

[Prufrock]

But why would he want to?!

Why does he care where the money is?

And even if he does, Moonshift just buy £160m worth of BL shares and BL pay back the loan.

No -10 points.

But again, why would he want to? Two companies which aren't ED have various obligations between themselves. So what?

[Lord Kangana]

You have to resolve the obligations in a proper manner. By proper I mean in the eyes of the law. So Moonshift can't "just do" anything. It can, however, react to circumstances beyond its control in a manner favourable to us all.

[Prufrock]

Of course they can!

But again....why does he care?!

BL owe Moonshift £160m. They're going to start paying it back in ten years. That's it. It's fine!

[Hoboh]

Maybe moonshift have discovered potential fracking under the Reebok?

[Worthy4England]

And he doesn't owe himself any money. A company he is director of owes money to another company he is director of. Its really not as simple as "its his money". Its technically company money. He has to deal with that in a legal way.

So, what's to stop Fildraw (as parent company) paying Moonshift?

And just who would know if they had or hadn't?

[Lord Kangana]

Is a very reasonable question. That may be the reason behind our move from Public limited to Private Limited.

But then, everyone asking for a why is looking for logic. So let me ask an equally logical question. For what reason did Eddie Davies lump all his cash in to BWFC?

Theres nothing logical or straightforward about it.

Somebody put forward the rumour that we might be voluntarily going into administration. I merely wanted to demonstrate how that was possible and not entirely preposterous.

The only conclusion I can draw is that if everyone thinks nothing will happen to a £163m debt, I'd take them for being very naive. Something will.

[Worthy4England]

Is a very reasonable question. That may be the reason behind our move from Public limited to Private Limited.

But then, everyone asking for a why is looking for logic. So let me ask an equally logical question. For what reason did Eddie Davies lump all his cash in to BWFC?

Theres nothing logical or straightforward about it.

Somebody put forward the rumour that we might be voluntarily going into administration. I merely wanted to demonstrate how that was possible and not entirely preposterous.

The only conclusion I can draw is that if everyone thinks nothing will happen to a £163m debt, I'd take them for being very naive. Something will.

I suspect he hasn't lumped all his cash into Bolton. He doesn't strike me as being on his uppers.

Maybe, he feels with "X" amount to live on, he and his will be fine, and is playing with the rest as he can, as it's his to dispose of.

Generally, I'd agree with you about debt. In this one, singular, particular instance, I'm not so sure...that's not naïve...that's just not so sure.

[Lord Kangana]

Again, its a reason, but it isn't entirely logical is it? I've got loads of cash, lets throw it all at a football club? He could as easily have stood on the Reebok car park and set fire to bundles of fifties!

I think what I'm trying to say is, maybe his being happy with his money going into a football club, and equally maybe he is happy to walk away with a small pay-off arrived at by byzantine accounting methods, and discharge his responsibility to the club.

[Worthy4England]

Again, its a reason, but it isn't entirely logical is it? I've got loads of cash, lets throw it all at a football club? He could as easily have stood on the Reebok car park and set fire to bundles of fifties!

I think what I'm trying to say is, maybe his being happy with his money going into a football club, and equally maybe he is happy to walk away with a small pay-off arrived at by byzantine accounting methods, and discharge his responsibility to the club.

What's logical about spending money you don't need?

[Lord Kangana]

Exactly!

[Worthy4England]

Exactly!

I'm saying it doesn't need logic, if you've already written it off, and anything that heads back the other way is an upside. A bit like if I stick £20 on a horse but on a much grander scale...it's money I don't "need". If it pays a return that's good, if it doesn't, then it doesn't matter.

ED is involved in Squarestone (nothing to do with Fildraw or Moonshift), who develop shopping mall's in Brazil. Maybe we'll get a new Normid in the North Stand, eventually...

[Lord Kangana]

Maybe he's going to make fresh billion!?! Champions League here we come.

[Prufrock]

There might not be financial logic for him investing in BWFC, but there were reasons - it wasn't a matter of drunk caprice. He didn't roll a dice and think f*ck it, I'll do that. He's not mental!

So I'm not gonna worry about administration until anyone comes up with a plausible reason why he might want to do it!

He could change our name to Bolton Basterds and move the club to Turkey if he wanted, but I'm not worried about that either.

[Lord Kangana]

For clarities sake, and for everyone else who doesn't know, what were Eddie Davies' reasons for putting his money into BWFC?

[Prufrock]

Presumably because he was a fan? I don't know, but I don't need to, unless your point is genuinely that he might have done it on account of some form of randomised madness? He clearly thought there was something to be gained, be it enjoyment, tax relief, or the kudos of 'owning a football' club.

There is no such speculative reason for him putting us into administration!

[Lord Kangana]

You've said what you are certain of what it wasn't. How can you be certain if you don't know what it was in actual fact? Under the circumstances, it seems fairly clear that the idea it may have been a moment of drunken caprice can stay firmly on the table. It may well have been. No bets are off.