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1 minute ago, debram said:

Chansiri will save then, were going up.

 

Dont talk stupid 

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Not really sure that letting them go into admin is necessary to wipe out the debt

 

I thought their previous owner wiped out the £200m he was owed, and then lent them another £5m last year to keep them out of adminstration just a few days before he died.

 

Boltons debt is probably a lot less than what we owe Mr Chansiri.

 

(Not researched this so could be wrong)

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3 minutes ago, Tamworthowl said:

 

Whether or not the new owner should get a 12 point punishment is down to the way he goes about getting the club.

 

He will be aware of any other parties interested in getting the club (probably none) so wants the club as cheap as possible. By letting the club go into admin he can wipe out the debts. Provided that he offers the administrator (and hence the creditors) more than the club is worth bulldozed and replaced by a shopping/leisure complex then he gets the club without being hamstrung by debts. But people and businesses lose significantly, so there must be a punishment to deter potential buyers seeing administration as the preferred route. It should be a last resort.

The problem with the Administration or CVA route you need 75% of your creditors to agree to it, if this is HMRC they won't and the debt will have to be paid like we had when Milan paid the £1.2m tax bill on taking the club over.

 

The companies that get forgotten are the small companies that could well go out of business and people livelihood because of the actions of the ones running the club.

 

I also think last season most of Boltons debts were writing off by the departing chairman there issues are cashflow - they basically don't have any the last filed account shows a loan of £6.5m which in footballing terms is quite small.

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3 hours ago, OWL1969 said:

Not that long since we were in a bad place, really feel for them and wish them the best of luck.

It's always the poor fans that suffer and never the owners who have landed the clubs in the poo in the first place.

 

Just think though... if we had gone to the wall, we'd be over it emotionally now and I could happily be supporting Man City. Curse that Milan Manderic!!

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8 minutes ago, room0035 said:

The problem with the Administration or CVA route you need 75% of your creditors to agree to it, if this is HMRC they won't and the debt will have to be paid like we had when Milan paid the £1.2m tax bill on taking the club over.

 

The companies that get forgotten are the small companies that could well go out of business and people livelihood because of the actions of the ones running the club.

 

I also think last season most of Boltons debts were writing off by the departing chairman there issues are cashflow - they basically don't have any the last filed account shows a loan of £6.5m which in footballing terms is quite small.

 

Whilst im not an accountant, I disagree the implication of your first paragraph. If the current owner puts the club into administration (partly because the potential new owner forces it that way) then the administrator keeps the club ticking over, bearing in mind there is no ex-owner putting money in, and looks for the best deal to pay off creditors. They, including HMRC, might veto any proposals, but that just forces the club into liquidation. HMRC will assess whether they are better of taking a share of liquidated assets or the potential purchaser's offer. Hence, this provides a steer for the potential purchaser's offer.

 

On the last point, didn't Davies (?) give the club enough to pay off immediate debts, but not all of them? Anything not paid off at that time, or built up since, the new buyer might want to see reduced, either via the administration process or negotiation, but as you point out, HMRC rarely negotiate.

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The latest from the BWFC saga is that apparently all guests at The Whites Hotel are being told it's cash only for rooms/services as the credit facility has been taken away from the hotel.

Ken Anderson no longer wishes to run a club that is losing around £1million a month. There is real genuine concern that the club could be liquidated in the high court tomorrow as Ken Anderson has been playing games with HMRC for too long now and he might just be hard faced enough to allow it to happen.

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Anderson is trying to get himself a nice payoff for the "outstanding work he has done", namely according to him reducing debts and which, is dead easy to do when the previous owner writes off 198 million of it, and you never pay any of your bills. There is apparently another consortium who are interested, but are not dealing with Anderson, because well, who would, and have gone straight to Moonshift, which is the estate of Eddie Davies, who Anderson owes a 5 million secured loan to, plus it seems another 3 million unsecured loan, for which he refuses to prove he actually spent on the club, which seems to have been one of the sticking points with the original takeover. Even if the petition is validated tommorow, it will take a week to appoint the liquidator, so, they have until the 27th to sort it out.

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1 hour ago, Whitechapel Owl said:

 

That was the opinion of one knob who's been dead for a few years. Nothing to do with the current Bolton setup. 

In which case I still would like them to go into admin as I got hit on the head with a light bulb thrown by one of their sneaky fans at their old ground.

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First League double over Bolton since 82/83 and the results might not count. Typical. Bruce and Chansiri out. 

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To be honest, it's about time a club went out of business to shake up the absolute fuckcluster of a financial mess and overspending that we've got at the moment - pour encourager les autres, if you will.

 

It's just a shame it's Bolton - got a few mates who support them.

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11 minutes ago, NYowl said:

In which case I still would like them to go into admin as I got hit on the head with a light bulb thrown by one of their sneaky fans at their old ground.

I bet thar came as a Bolton out of the blue for you? 

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If they went bust they'd be back.

 

They'd have to start in the National League North mind, but they'd be back.

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4 hours ago, Itchy said:

 

Dont talk stupid 

Re the chansiri or going up quote?

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I’d sooner not make the play-offs than see a club with a long proud history go under.

 

Wasn’t that long ago we were in the mire.

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12 hours ago, Itchy said:

Could be bad news for us they’re in court soon with the possibility of been wound up. The effect of this would be all of their results being expulsed from league and the table would be as follows . We could then kiss playoffs goodbye ☹️

F4868BB5-3250-4E8F-8016-2303EF5A8747.png

OK, so the automatics would be gone but the play offs are still pretty much guaranteed.

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Why doesn't Peter Kaye just step in? And that other Bolton dude Paddy someone off Blind Date?

 

 

 

 

 

 

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23 hours ago, Mycroft said:

They will fix it so they can carry on, can't let a club like Bolton be kicked out of the league. 

They should get kicked out, only way the finances in football will get resolved. 

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13 minutes ago, billyblack said:

They should get kicked out, only way the finances in football will get resolved. 

 

Well, that's a wild guess for a start. 

 

Football thrives on its traditional roots and whilst I agree that clubs shouldn't be allowed to stack up debt.  There must be a better mechanism in place to stop the build up of debt in the first place. 

 

But once we lose clubs because of the incompetence of the current incumbent owner then the local fans, and the footballing community as a whole loses out.   

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