The Debt.
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- Lost Leopard Spot
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Re: The Debt.
OK for the last time, I'm not going to keep repeating this ad nauseum: It was reported that the new buyer needed to put future running costs down up front. Not guarantees, but cash. That's what I'm arguing about. Of course ED wants guarantees, with that I have no problem... but cash! Up front, for future running costs, no way. If he's asking fir that he's mad, but I don't think he is.Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.
My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.
No evidence for any of that mind!
That's not a leopard!
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- Lost Leopard Spot
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Re: The Debt.
Here's a bet.Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.
My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.
No evidence for any of that mind!
Ten thousand internet pounds on this:
Sunday 17th January turns up with no buyer.
You win when Eddie pays the money to HMRC prior to the winding up order.
I win when Eddie goes into voluntary administration.
We both don't win if a new buyer is found.
We both lose if the court hearing goes ahead with no money having been paid to HMRC.
That's not a leopard!
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Re: The Debt.
Lost Leopard Spot wrote:OK for the last time, I'm not going to keep repeating this ad nauseum: It was reported that the new buyer needed to put future running costs down up front. Not guarantees, but cash. That's what I'm arguing about. Of course ED wants guarantees, with that I have no problem... but cash! Up front, for future running costs, no way. If he's asking fir that he's mad, but I don't think he is.Prufrock wrote:Assuming any buyer does intend on keeping the club going, they must have the means to cover that shortfall. If they have the means, I see no reason why they would refuse to prove they have the means (not pay it up front, just show they have it) if it was a deal-breaker.
My *reckon* is a lot of this is brinkmanship from ED as he tries to get rid. I reckon that if we don't have a buyer sorted before the court hearing he'll stick in the money to cover it. He's just trying to force a sale asap.
No evidence for any of that mind!
Re: The Debt.
Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
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Re: The Debt.
About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?
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Re: The Debt.
was kinda my point up above, when I said none of us know what Eddies T&C's are for the saleEnoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Re: The Debt.
Not necessary thanks, just as long as it wasn't real news.Lost Leopard Spot wrote:About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?
Re: The Debt.
Aye, panic fannies.StaffsTrotter wrote:was kinda my point up above, when I said none of us know what Eddies T&C's are for the saleEnoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
It'll be reet.
- Worthy4England
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Re: The Debt.
I'm a little mystified at the issue here particularly - surely the money would go into an escrow arrangement with conditions against it relating to the assets the purchaser would receive at the "knock-down" price. Probably trying to prevent chancers putting up a month's worth then flogging all the assets leaving us playing on Tonge Moor. If he's giving the assets at net book or lower than net book plus wiping all the debt up to whatever limit he's stated to try and secure some sort of future, then why would he want someone walking in to use the assets as saleable elements to run the Club? He could flog them himself, even if that was at a reduced % to get some cash into his pocket rather than theirs...Lost Leopard Spot wrote:I've just argued this point. When selling a business I can see the buyer having to pay deferred wages, immediate costs, and tax due, etc. What nobody in the entire history of business transactions have done is put the money down up front for future running costs! That'll be up to the new buyer to arrange in his own sweet time and has absolutely nothing to do with the seller. The seller might demand guarantees about future financial transactions but they don't ask for the money up front. Imagine Buyer x puts down £15 mill to cover the rest of the year... does seller Y then dole out the money back to buyer x? Of course he doesn't, because he won't be asking for running costs up front, in cash!!!BWFC_Insane wrote:Money up front to keep the club afloat. That is what is being asked.Lost Leopard Spot wrote:...and anyway, put what fxcking money down. Wasn't it firmly reported that Eddie was prepared to sell for a pound. I can put a pound down. Anybody can put a pound down. It's obviously not all resting on somebody putting the fxcking money down is it?
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Re: The Debt.
Enoch wrote:Not necessary thanks, just as long as it wasn't factLost Leopard Spot wrote:About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?real news.
- Lost Leopard Spot
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Re: The Debt.
Well precisely. It wasn't me that reported it. I've been saying it's bollox.StaffsTrotter wrote:Enoch wrote:Not necessary thanks, just as long as it wasn't factLost Leopard Spot wrote:About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?real news.
Anybody bought us yet?
Didn't think so.
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Re: The Debt.
http://lionofviennasuite.sbnation.com/2 ... ers-owners
Disturbing if true. If eddie's been as fussy as suggested he won't let them anywhere near.
There's some bollocks articles on that site but they were right about Holdsworth's involvement.
Disturbing if true. If eddie's been as fussy as suggested he won't let them anywhere near.
There's some bollocks articles on that site but they were right about Holdsworth's involvement.
...
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Re: The Debt.
Sounds very much like a certain Stephen Vaughan who destroyed Chester City and nearly destroyed my home town Rugby team, Widnes Vikings.LeverEnd wrote:http://lionofviennasuite.sbnation.com/2 ... ers-owners
Disturbing if true. If eddie's been as fussy as suggested he won't let them anywhere near.
There's some bollocks articles on that site but they were right about Holdsworth's involvement.
Avoid at all costs...
- BWFC_Insane
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Re: The Debt.
It is reported by the Bolton News as well. I'm not really sure what you expect. It has also been said by Neil Lennon in an interview he gave.Enoch wrote:Not necessary thanks, just as long as it wasn't real news.Lost Leopard Spot wrote:About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?
Re: The Debt.
It was reported on here, doesn't impress me.BWFC_Insane wrote:It is reported by the Bolton News as well. I'm not really sure what you expect. It has also been said by Neil Lennon in an interview he gave.Enoch wrote:Not necessary thanks, just as long as it wasn't real news.Lost Leopard Spot wrote:About three pages back by BWFCi quoting someone (Nixon, the Sun, somebody else)...Enoch wrote:Sorry for not keeping up, what with it all being very interesting and such. Just out of interest, reported, by whom?Lost Leopard Spot wrote:It was reported that the new buyer needed to put future running costs down up front.
Shall I go and find it again?
Where's the bit where Eddie Davies said it, or that Birch fella, or the shot of Gartside dragging himself off his sickbed to say 'Over my dead body!' or somesuch?
- BWFC_Insane
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Re: The Debt.
^^
Neil Lennon said it in an official press conference.
I mean it is clearly fact that someone needs to put money down up front. The Bolton News have written repeatedly that is the case and they do have some decent information from the club.
Isn't even up for a debate this one.
Neil Lennon said it in an official press conference.
I mean it is clearly fact that someone needs to put money down up front. The Bolton News have written repeatedly that is the case and they do have some decent information from the club.
Isn't even up for a debate this one.
Re: The Debt.
Wow! Did he.BWFC_Insane wrote:Neil Lennon said it in an official press conference.
I remember when he said we were heading to the playoffs.
No shit, Sherlock.BWFC_Insane wrote:I mean it is clearly fact that someone needs to put money down up front.
Well why didn't you just say.BWFC_Insane wrote:Isn't even up for a debate this one.
Thing is, when the folk that are actually sat in a room trying to bash out a deal, I very much doubt they invite, The Bolton News, Alan Nixon, BWFC_AYE, nor indeed Uncle Tom Cobley, to sit in. So I still feel it is up for debate. Though I confess for the most part I find the debate a tad fruitless.
- Lost Leopard Spot
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Re: The Debt.
Have a grape...Enoch wrote:Wow! Did he.BWFC_Insane wrote:Neil Lennon said it in an official press conference.
I remember when he said we were heading to the playoffs.
No shit, Sherlock.BWFC_Insane wrote:I mean it is clearly fact that someone needs to put money down up front.
Well why didn't you just say.BWFC_Insane wrote:Isn't even up for a debate this one.
Thing is, when the folk that are actually sat in a room trying to bash out a deal, I very much doubt they invite, The Bolton News, Alan Nixon, BWFC_AYE, nor indeed Uncle Tom Cobley, to sit in. So I still feel it is up for debate. Though I confess for the most part I find the debate a tad fruitless.
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- Izual_Rebirth
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Re: The Debt.
Personally if we're going to go into admin... and we will... might as well do it this season as we're looking like we're going down so might as well take the point penalty this season when we're already going down and no next year while in L1 and which will put us into L2 probably.
- Izual_Rebirth
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Re: The Debt.
This is what I said a year ago and people were very rude to me over it but looks like all this news of hidden debt not being declare etc is absolutely true.Izual_Rebirth wrote:I hate to say I told you so but... something is going on and it's not good. Seeing as we've just lost 50M+ over the last 12 months and now this?
Like I said people... a slow painful death awaits. The first nail in the coffin is when the owners try to hide things from the fans and communication breaks down. Moving to the LTD company means they don't have to be as transparent as they were before. Why? Because they want to hide how bad the clubs finances are in.
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