Bolton debt

[blueboy3333]

There seems to be some doubt as to whether Anderson has offered the full amount and,if he has, whether it was in instalments which wasn't accepted. Someone needs to pay before 10am or the club goes into administration. Talks ongoing according their local journo. It's all in this live blog:-

https://www.theboltonnews.co.uk/sport/16833684.latest-updates-as-bolton-wanderers-seek-to-avoid-administration/

The 'interesting' thing in that story is that Bolton have had prospective buyers turned down by the EFL because they didn't meet  the 'fit and proper' rules! it must have been a serial killer because they don't normally give a shit.

Edited September 11, 2018 by blueboy3333

[Paul]

@JHRover - thanks

[K-Hod]

I'm a bit torn with how to feel over this.

I remember how absolutely horrendous they were with us over our difficulties, so in some ways, their fans are reaping what they sow.

Having said that, nobody that follows a football club should have to suffer like this.

I was also reading on that timeline on the Bolton news that if anyone wanted to step in with the funds, they could. (I.E.- Eddie Davies or any of the Warburton family). 

Edited September 11, 2018 by K-Hod

[Tom]

Would be a real shame to see it happen as could easily be us facing it.

Their good start gives them a survival chance this early, they’d only be on -1 with third bottom on 4 points. 

[JHRover]

29 minutes ago, blueboy3333 said:

There seems to be some doubt as to whether Anderson has offered the full amount and,if he has, whether it was in instalments which wasn't accepted. Someone needs to pay before 10am or the club goes into administration. Talks ongoing according their local journo. It's all in this live blog:-

https://www.theboltonnews.co.uk/sport/16833684.latest-updates-as-bolton-wanderers-seek-to-avoid-administration/

The 'interesting' thing in that story is that Bolton have had prospective buyers turned down by the EFL because they didn't meet  the 'fit and proper' rules! it must have been a serial killer because they don't normally give a shit.

Well when Dean Houldsworth and Ken Anderson were taking over it was rumoured that John Disley was involved. A quick look online at his 'CV' and that might be the sort of thing the League have been concerned about.

[JHRover]

I won't be wasting my time going online trying to wind up Bolton supporters as it could easily lead to egg on the face. Not necessarily because it could be us, as I firmly believe that is one thing Venkys will never allow to happen here, but more because administration may lead to short term pain but could easily lead to a brighter future for them. If they go onto the market as a debt free Championship club once this loan is sorted out then there could well be people out there with deep pockets wanting to take over. Of course there might not be and a points deduction might lead to relegation and a dark future, but I'd prefer to wait and see.

If they are docked points it ought to help us and that is my sole concern.

Let it not be overlooked that they spent a decent wedge of money this summer on players like Magennis and Doige from the lower leagues. Not really fair that they can spend that whilst not repaying a multi-million debt that is overdue. Loan company or not they will have staff and shareholders who may need that money repaying for their own sakes and are perfectly entitled to seek to recover it from a football club with a multi-million turnover and has enough money to pay transfer fees for new players.

[Neal]

I'm sure the sale of Jason Lowe will cover it...

[tomphil]

Good old Lowey he took 20k pwk off Rovers now he plays for Bolton for nowt !!! What a lad ?

There's certainly egg on face with a lot of Bolton fans after the stick they dished out to Rovers as recently as last year but they've always been built on sandcastle foundations themselves and should've known better.  Holdsworth & co were clearly just after getting their mitts on it and flogging it on quickly they've obviously never had enough funds to run it properly.

Feel genuinely sorry for the people at the club and their fans who don't go beyond normal levels of local rivalry banter.

Edited September 11, 2018 by tomphil

[DE.]

Looks like a last minute deal may have been reached for them to avoid administration. Deadline extended to noon. 

You have to think under Anderson it's a matter of time before the house of cards really does come crashing down, even if they get through this latest scare.

[philipl]

Bolton's situation is defying gravity.

We are somewhat insulated by geography from a similar fate.

[K-Hod]

14 minutes ago, DE. said:

Looks like a last minute deal may have been reached for them to avoid administration. Deadline extended to noon. 

You have to think under Anderson it's a matter of time before the house of cards really does come crashing down, even if they get through this latest scare.

Absolutely. Surely, this can't keep on happening you'd have thought?

I did like the quip from Karl Henry replying to their advert on Twitter for a retail supervisor job advertised- 'is this a paid role?'.

[Beanie01289]

Lose all sympathy for them when they just refuse to pay unwanted and players who have left money owed surely there should be some form of punishment for this behavior or can all clubs just do this now. 

[RevidgeBlue]

Two thoughts on this: firstly can't believe any Rovers fan thinks it is a shame one of our Local rivals might be going bust (although knowing our luck they probably will end up with the billionaire owners referred to) and secondly this Anderson character must not be telling the truth in his statement. He must only be offering to drip feed any sums contractually due to Blumarble in instalments which are not deemed adequate or he must not be offering to pay all sums due under the agreement after allowing for interest and penalties for late payment etc. No-one would place Bolton into administration if they were in receipt of a genuine and immediate offer to pay all sums due under the terms of the agreement.

[DE.]

It seems like Anderson has tried to weasel his way out of paying the full amount due - after stating for months that it would be paid by the deadline. BluMarble obviously believe he is capable of paying in full, just not willing to do so, and have taken the risk of legitimately putting the club into administration to get the full amount (apparently £4.8m). Assuming the rescue deal is approved I suppose we'll find out soon enough which party ended up blinking, but it's certainly no way to run a business. 

[EgyptianPete]

Looks like Bolton have got away with it yet again at the 11:59 mins and 59 second hr mark, surely only a matter of time. (no pun intended) ?

Edited September 11, 2018 by EgyptianPete
Better wording

[tomphil]

If ever a club was run almost solely on hand to mouth debt it's that one, the very thing FFP is supposed to prevent and it isn't mysterious foreign money or possible debt hidden in far away lands all this is down to good old English owners !

Davies sold them down the river once their parachutes dried up, at least our lot had 30 mill worth of players to sell.

Edited September 11, 2018 by tomphil

[JHRover]

Bolton fans bemoaning their luck this morning. Ironic really as from the outside looking in it seems to me they've had bucket loads of luck over the last 3 to 4 years when things could easily have turned out much, much worse.

On the financial side it seems they've gone within minutes of administration/liquidation on more than one occasion yet each time have managed to escape intact by the skin of their teeth. When Eddie Davies was calling it a day they ended up in the High Court for unpaid tax bills and on winding up petitions yet escaped those, they've had numerous occasions where staff, players and suppliers haven't received money owed or bonuses due yet are still operating as a Championship club with a squad that is getting results.

They got relegated a few years ago when they only needed a very low total to survive yet still failed to do it, got promoted straight back up from League One with quite a low total needed for 2nd place (much lower than what we needed last season), then survived last season, again by the finest of margins in the last few seconds of the season having been in the bottom 3 throughout, yet survived with a low points tally (compared to the 51 that we went down with).

Things could easily have been much worse for them yet they keep on getting away with it.

[tomphil]

Brum are another who've been sailing close to the wind probably longer than we've had Venkys it's amazing they've never gone bang. Both are probably run by self serving clueless suits OR very crafty operators !

[Tom]

Bolton fans speculating that Vince McMahon is their new billionaire owner, will be interesting to see how it all plays out if true but not convinced.

Seems there is an American taking over though 

[RevidgeBlue]

25 minutes ago, Tom said:

Bolton fans speculating that Vince McMahon is their new billionaire owner, will be interesting to see how it all plays out if true but not convinced.

Seems there is an American taking over though 

If That's the case their games will now last three hours but there will only be about twenty minutes actual action, the remainder will consist of ad breaks and the players standing around calling the opposition names.?

[Stuart]

Just shows that there is a buyer out there for everyone.

@philipl called it right: gravity defying. It’s hard to feel sorry for them when they keep escaping and getting better - presumably shafting creditors in the process.

[Gav]

Just reading through the whole thread it's striking how the level of debate on the site in general has deteriorated since 2014, but hey that's progress.

Bolton won't go out of business, clubs like ours always survive. But if they go into admin and subsequently get relegated its party time for them in league 1

Lucky swines!

Edited September 11, 2018 by Gav

[blueboy3333]

33 minutes ago, Gav said:

Just reading through the whole thread it's striking how the level of debate on the site in general has deteriorated since 2014, but hey that's progress.

Yep, 'Retards', 'Fried Mars Bars', 'What does Scotland offer the EU?'. It's all quality Bolton-related stuff. 

Edited September 11, 2018 by blueboy3333

[DE.]

5 hours ago, Tom said:

Bolton fans speculating that Vince McMahon is their new billionaire owner, will be interesting to see how it all plays out if true but not convinced.

Seems there is an American taking over though 

Nah, Vince is sinking a ridiculous amount of his own money into this XFL nonsense. Can't see him being interested buying a (real) football team, let alone Bolton. 

[tomphil]

Eddie Davis passed away ?

When ?  It must've been recent seeing as they were mentioning him still having a stake in it yesterday.