[Archived] Noblot Fooked?

[Butty]

http://m.bbc.co.uk/sport/football/40658854 Not seen this posted on here as of yet but this can't be good surely? Any of you posters more well versed in the administration process care to expand on the implications of this winding up order? 

[tomphil]

Last I heard the owner was trying to refinance using loans against the ground etc but because they'd registered it as an asset of community value it had hit a snag so maybe that had led to this.  They always seem to get out of it at the last min, they don't seem to be selling players to do it either unless I've missed it ?

At least we know those asset things work!

[Butty]

2 minutes ago, tomphil said:

Last I heard the owner was trying to refinance using loans against the ground etc but because they'd registered it as an asset of community value it had hit a snag so maybe that had led to this.  They always seem to get out of it at the last min, they don't seem to be selling players to do it either unless I've missed it ?

At least we know those asset things work!

I saw on twitter a month or two ago some tweets from a player named Dean Moxey who's since left basically saying the clubs players hadn't been paid there bonuses for getting promoted. Clearly strapped for cash but as you said, they always seem too get out of it. 

[Lancaster Rover]

When certain know alls on here we're saying how they'd managed to keep all there high earners and get out of L1 I said they had several WUP in process. As usual on here certain people just repeat their viewpoint until it's gospel and genuine information gets missed. 

Weird how Bolton managed to hold this off until the leagues had officially been formed.........

[Paul]

It's another sad indictment of how close to ruin football has moved. Many clubs which chased the PL dream and failed have put themselves in severe financial difficulty. 

For years I have blamed every PL chairman, including Williams, for failing to stand up to player demands and for not finding a way to regulate the transfer market.

The game has received billions over the past 25 years. The sums involved could have revolutionised and safeguarded football for decades. Instead the bulk of this money has been squandered on transfer fees, player wages and agent fees. 

The PL chairman and clubs are directly responsible for this situation. I feel for the Bolton fans but if the club goes broke it, the club, won't be mourned by me. 

[Batman.]

It says it all that you won't find this story on Sky Sports, despite all the title tattle flying around there.

It's like when The Sun print a horrific and incorrect story all over the front pages, and then two weeks later put a tiny one inch apology in the bottom corner of the middle pages.

Hope Bolton survive, and that we don't suffer a similar fate.

[Dunnfc]

Ken Anderson (Chairman) and fans have been expecting this to come in all fairness, I thought it would have been issued on the spot personally after the postponement of the BluMarble case the other week. There is a tax bill outstanding but it would be prudent to hold off paying this in the interim and this is why HMRC have now weighed in with their very own WUP.  

Due to the BluMarble WUP petition already hanging over them from the short term loan (£5million) taken out it is impossible or naïve to settle other disputes when the ownership may mean a joint liability by Holdsworth’s company Sport Shield or an opportunity to cancel/reduce down the loans let alone settle the liability over what they’re actually secured against.

Ken and BluMarble have actively been in talks recently to settle any dispute which is quite complicated as the £5million loan initially taken out by Holdworth was to fund the immediate working capital requirements of the club from takeover. This was never known at the time and is believed to be PCG’d (Secured) against the assets of Burnden Leisure the company Eddie Davies owned by MoonShift which was transferred to Sports Shield when the club was sold for a £1.00 and Holdsworth provided proof of funds for the working capital.

It has been challenged legally but I believe recently Ken actually acquired the majority of shares in Sports Shield from Holdsworth. I’d be more interested in how this actually transpired given the actual loan on Bolton’s accounts if for £4million and notes Holdsworth pocketed over a Million in broker fees. Issue is the fact the security against the assets may or may not be valid whilst Ken Anderson is trying to actually come to a financial settlement from his pocket in exchange for security and “repayment”.  As of the other week they were close but needed more time so that is why the Blu Marble postponement happened.

Ken owns full circle investments with his wife, whilst an ex agent and son currently is he’s pretty astute like his wife and are used to turning around businesses albeit not on this scale. His actual involvement with Bolton is odd given he was only drafted in at the 11^th hour as Holdsworth’s initial backers pulled out and suddenly he’s almost lock stock and barrel in the club.

The club still has circa £30 million of debt but largely to Eddie Davies and Trust of which will only be eligible for repayment if they get back in the Premier League. As for the player wages they were paid but bonuses were not as they have been suffering cashflow issues over the timing of cash coming into the club and going out, the last tranche of football monies for this season was paid to all clubs end of June so bonuses should now be settled.

No player has been paid late as I know Anderson has put his own money into the club 5x 800k to then ease cashflow and in particular to pay players, he has taken it back out and put back in when the time allows.

As it stands there commercial department has been in overdrive the last 12 months and several new lucrative sponsors are now lined up, including club affiliates. It really does put Blackburn Rovers to shame the likes of Mike Cheston who is absolutely shambolic.

No danger of Bolton going out of business it’s literally just Ken Anderson exposing himself to lesser risk and tying up the BluMarble issues, which once done with allow him to sell the club or attract more outside investment easier.

[Bigdoggsteel]

I wonder have they an outside shot at the play offs? They have momentum and have made a few decent signings. 

[tomphil]

I'd find it hilarious if we swapped places again next May after the noise they made but don't particularly want to see them go bust, being such a huge club and all

Got to say fair play how they are handling all this on the football side of things though. No fire sale, promotion and actually recruiting a few and just wait till captain fantastic joins up after getting his fitness up with West Brom.

[Dunnfc]

8 minutes ago, tomphil said:

I'd find it hilarious if we swapped places again next May after the noise they made but don't particularly want to see them go bust, being such a huge club and all

Got to say fair play how they are handling all this on the football side of things though. No fire sale, promotion and actually recruiting a few and just wait till captain fantastic joins up after getting his fitness up with West Brom.

They are out of the woods, treading water financially. Looking like having the BluMarble issue sorted in the next week or so, HMRC then paid and club flogged now it's been cleaned up, all in 14 months. I think they've got a very good chance of going down but they are ran very well these days.

Then you've got the circus Blackburn Rovers ran by Mike Cheston and his double digit calculator and Suhail don't spot me directing Shaikh.

I know what situation I'd rather be in right now and it isn't Blackburns.

 

[JHRover]

6 hours ago, Lancaster Rover said:

When certain know alls on here we're saying how they'd managed to keep all there high earners and get out of L1 I said they had several WUP in process. As usual on here certain people just repeat their viewpoint until it's gospel and genuine information gets missed. 

Weird how Bolton managed to hold this off until the leagues had officially been formed.........

Another way of looking at it is just what a horrendously bad job has been made of things at Rovers when clubs like Bolton, Burton and Barnsley are in a higher division than us despite having a fraction of the financial 'muscle', or in Bolton's case managing to pass us on the way down despite financial Armageddon.

Bolton kept hold of their players last summer for two reasons. One was that they couldn't buy anyone due to a transfer embargo, so if they had started letting people go they certainly wouldn't have got promoted. The other is that many of their players were on wages too high for other clubs to take on e.g. Spearing.

 

[Dunnfc]

5 minutes ago, JHRover said:

Another way of looking at it is just what a horrendously bad job has been made of things at Rovers when clubs like Bolton, Burton and Barnsley are in a higher division than us despite having a fraction of the financial 'muscle', or in Bolton's case managing to pass us on the way down despite financial Armageddon.

Bolton kept hold of their players last summer for two reasons. One was that they couldn't buy anyone due to a transfer embargo, so if they had started letting people go they certainly wouldn't have got promoted. The other is that many of their players were on wages too high for other clubs to take on e.g. Spearing.

 

Highlights how well Ken Anderson and the commercial finance staff at Bolton have done since he was plunged into being number one. 

[tomphil]

Chestons words every chance he gets of how grateful to the owners we should be ( despite 30 mill of sales ) really should just be translated as ' I'm so grateful for keeping my job ' despite the regular mess ups costing millions and alienating fans even more !

[Dunnfc]

Ken Anderson actually writes a column on the club website each week, image Suhail or Cheston doing that.

https://www.bwfc.co.uk/news/2017/july/a-note-from-the-chairman2/

sheds one or two lights.

[Baz]

Bolton are still signing players. Only today they are making press comments about the French lad at Arsenal we are linked with.

Cash flow rather than big money problems?

[Dunnfc]

12 hours ago, Baz said:

Bolton are still signing players. Only today they are making press comments about the French lad at Arsenal we are linked with.

Cash flow rather than big money problems?

Exactly that. Cash flow is an issue though that should align this year 

[47er]

21 hours ago, JHRover said:

Another way of looking at it is just what a horrendously bad job has been made of things at Rovers when clubs like Bolton, Burton and Barnsley are in a higher division than us despite having a fraction of the financial 'muscle', or in Bolton's case managing to pass us on the way down despite financial Armageddon.

Bolton kept hold of their players last summer for two reasons. One was that they couldn't buy anyone due to a transfer embargo, so if they had started letting people go they certainly wouldn't have got promoted. The other is that many of their players were on wages too high for other clubs to take on e.g. Spearing.

 

We were doomed as soon as Coyle was parachuted into the job from nowhere. Would love to know all the ins and outs of that little scandal.

[Dunnfc]

Petition dealt with http://m.bbc.co.uk/sport/football/40684078

[rigger]

shouldn't the title read NOTLOB ?

[Butty]

1 hour ago, rigger said:

shouldn't the title read NOTLOB ?

My bad I thought I put Noblot at first then changed it to Notlob but I think I did the opposite. Sack Bolton getting a winding-up order and wind my account up instead. Bloody part timer aren't I. 

[Skiptonrover]

7 minutes ago, Butty said:

My bad I thought I put Noblot at first then changed it to Notlob but I think I did the opposite. Sack Bolton getting a winding-up order and wind my account up instead. Bloody part timer aren't I. 

Do we need to really answer that.

[Butty]

45 minutes ago, Bluebarley said:

Do we need to really answer that.

What's your point Barley? . I like to think I'm a relatively good poster 1% of the time, 99% I just waffle rubbish but you can't knock that 1% mate! 

[Skiptonrover]

Good response I was only joking we all talk rubbish at times. I wasn't even following the thread until the last bit don't care much for BWFC.

[Nyambepamby]

Not sure why this thread hasn't been taken down. Is 'fooked' allowed but CNT not..?

[Reedy You're A Star]

I wouldn't be kicking up too much of a fuss there Saxo lad, or it'll be you that's fooked. Again.