Bolton Wanderers Unpaid Staff Need Food bank.

[Stuart]

The EFL were in a position where they will feel their integrity would he lost after so many extensions and missed deadlines.

What they fail to grasp is that thanks to the fit-and-proper person’s test being a compete misnomer their integrity and credibility as an organisation is already shot to pieces.

If we ever had any hopes that there would be some leniency if/when we end up in a similar situation these are gone. We will be reliant on someone buying Rovers (you have to think/hope someone would) and that the EFL will no longer accept shysters out to make a quick if risky buck.

Will this be the start of the football implosion we have all been predicting and fearing for a decade? If we lose the higher placed clubs then  if the want to approve non-league clubs to keep “the 92” then the EFL may need to lower their standards. Ultimate this has to result in an even wider gulf than we already have between the EFL and the PL.

[JHRover]

What it needs is a wealthy individual to go after Day, Dale and the League and take them to the cleaners and drag them through the Courts.

The least that should be done here now is justice and those who have done wrong or failed in their responsibilities to be dragged down too.

Sadly we all know that the authorities will commence a cover up operation to shield themselves from further criticism and that will be that.

Only ones to suffer will be the club, town and fans.

[Blueandwhitemike]

The Sun (which I wouldn’t normally read) are reporting that there’s a bid to buy the club and funds were/are being transferred.

A statement issued on Wednesday morning at 12.10am by Chris Farnell said: "This is devastating news for Bury FC.

“All of the Clubs senior staff are amazed that the Club was not allowed a small extension for a period of a few hours, in order that funds in excess of £6 million to be deposited into an account to provide proof of funds to the EFL.

“This was a genuine offer and up until the EFL announcement the funds were in the process of being transferred.

Now that opportunity to save the Club has been taken away from Bury FC.”

Farnell added: "On Wednesday morning we intend to try to make the EFL rescind their decision to expel Bury Football Club.

"The fight to save the Shakers goes on."

it really is unbelievable

[Paul]

It's incredibly tough. I saw a statement this week saying collectively the PL clubs made a profit of £304m - this is a poor return on investment. The EFL clubs collectively lost £388m which if we are honest is unsustainable.

Looking at Bolton alone if we are absolutely brutal this "business" should have failed years ago. Eddie Davies wrote off the best part of £175m in debt. Personally I can't conceive of that sum and don't know if I would do the same.

Financially football in England no longer works. The only solution may be for many clubs to disappear allowing what money there is in the lower leagues to be concentrated with fewer clubs.

I've banged on about this for 20+ years. The root of all these problems is the PL and Sky TV. Every issue is traceable to these two events.

[Paul]

Just now, Blueandwhitemike said:

The Sun (which I wouldn’t normally read) are reporting that there’s a bid to buy the club and funds were/are being transferred.

A statement issued on Wednesday morning at 12.10am by Chris Farnell said: "This is devastating news for Bury FC.

“All of the Clubs senior staff are amazed that the Club was not allowed a small extension for a period of a few hours, in order that funds in excess of £6 million to be deposited into an account to provide proof of funds to the EFL.

“This was a genuine offer and up until the EFL announcement the funds were in the process of being transferred.

Now that opportunity to save the Club has been taken away from Bury FC.”

Farnell added: "On Wednesday morning we intend to try to make the EFL rescind their decision to expel Bury Football Club.

"The fight to save the Shakers goes on."

it really is unbelievable

Two points here. If the EFL wish to be taken seriously the decision cannot be rescinded. Either the EFL meant it or they didn't. Rescind this and other clubs will at some point play the same card.

Secondly I would suggest none of these last minute, high noon saviours can be taken seriously. If someone had £6m available to save Bury it should have happened weeks/months ago.

Wait till beyond the last minute to step in? Nope, a total joke which does nothing more than prolong the lunacy. No one should ever give credit to such individuals, believe a word they say and should always question their motivation.

[arbitro]

In simple terms the problems are caused by paying players too much. Bury bad a player on £6k a week and it's almost certain that some other players were on similar. When a player is registered and his contract sent to the relevant leagues the vastly over inflated wages should be questioned with the club. The authorities have to take some leadership and seriously question some of these errant owners and chief executives.

[Mike E]

14 minutes ago, Stuart said:

The EFL were in a position where they will feel their integrity would he lost after so many extensions and missed deadlines.

What they fail to grasp is that thanks to the fit-and-proper person’s test being a compete misnomer their integrity and credibility as an organisation is already shot to pieces.

If we ever had any hopes that there would be some leniency if/when we end up in a similar situation these are gone. We will be reliant on someone buying Rovers (you have to think/hope someone would) and that the EFL will no longer accept shysters out to make a quick if risky buck.

Will this be the start of the football implosion we have all been predicting and fearing for a decade? If we lose the higher placed clubs then  if the want to approve non-league clubs to keep “the 92” then the EFL may need to lower their standards. Ultimate this has to result in an even wider gulf than we already have between the EFL and the PL.

Shows how important it is Rovers Trust are around to hopefully help as a relative safety net should it happen to us.

[Claytons Left Boot]

Just now, arbitro said:

In simple terms the problems are caused by paying players too much.

The biggest cost to any business is it’s staff. In footballs’ case, the players. At the last company I worked for, wages were around 20% of turnover and we were a realatively small but well run, profitable business.

Looking at 2018 figure work for the PL clubs, that percentage ranged from around 50% to 80%. Rewind a few years before the ‘mega’ tv deals came in and those percentages would have been even higher.

There has been a knock on effect to the rest of the leagues and an unfair distribution of tv monies plus stupidly high wages has put a strain on most clubs’ finances. 

It’s not hard to see why Bury have suffered more than most. Unfashionable, northern club from a small town with gates of around 5k on a good day. Behind the scenes, run by total shysters who have mortgaged the ground at interest rates of 138% and appear to have been bleeding the club dry.

The EFL, who should have been there to protect this sort of thing have done sweet FA, if you’ll pardon the pun.

[JHRover]

If I were a Bury supporter I'd be wanting to know whether the same processes and levels of patience have been given to both Bury and Bolton or if Bolton have been treated favourably.

Next news is the 'EFL' will refuse to comment on Bury FC because they are no longer members of its competition. Another slap in the face.

Time for the FA to get involved. If the 'EFL' is really just a competition organiser then it needs to go up a level. The FA are the national association and should have more power to deal with this sort of thing.

[SIMON GARNERS 194]

No Rovers trust would be able to save us in a similar situation...unless they had about 130 Million behind them!

Bury made an example of as once more the powers that be bend over backwards to facilitate Bolton.

[Mattyblue]

The FA are the ‘governing body’ of the game, yet have been entirely absent.

 

[tomphil]

In the case of both clubs it again just highlights how as long as you have an entity turning over millions per year and there is some kind of income streams it doesn't matter what debt, outgoings or where the income is from chancers can still get in and bleed money out until the pot runs dry. 

That is pretty much second next to stupid player wages and agents that needs ironing out of the game especially outside the Prem.  The two things probably go hand in hand in a lot of cases though, what better way to bleed a club....

[Blue blood]

56 minutes ago, Paul said:

It's incredibly tough. I saw a statement this week saying collectively the PL clubs made a profit of £304m - this is a poor return on investment. The EFL clubs collectively lost £388m which if we are honest is unsustainable.

Looking at Bolton alone if we are absolutely brutal this "business" should have failed years ago. Eddie Davies wrote off the best part of £175m in debt. Personally I can't conceive of that sum and don't know if I would do the same.

Financially football in England no longer works. The only solution may be for many clubs to disappear allowing what money there is in the lower leagues to be concentrated with fewer clubs.

I've banged on about this for 20+ years. The root of all these problems is the PL and Sky TV. Every issue is traceable to these two events.

Spot on. Worst thing that could have happened. I'd perhaps throw the "Champions" League into there as well, especially under it's 3 or 4 teams from top countries guise too, furthering the gulf within the Prem. 

[tomphil]

The Champions League is another farce geared in every way to maximise it for the elite clubs i mean come on they get so far then got knocked out but automatically then get a stab in another competition !!!

The league format also lessens the shock big boy knocked out one offs scenario.

The Prem in this country was fantastic when it began lets be honest and lets not forget they wanted an elite Super League instead.  The main downfall is SKY and the monster it became particularly over the last decade or so as other companies get in on the act and the ante has to keep being upped.

Breaking point will be reached in the next decade.

[Amo]

Just now, Blue blood said:

Spot on. Worst thing that could have happened. I'd perhaps throw the "Champions" League into there as well, especially under it's 3 or 4 teams from top countries guise too, furthering the gulf within the Prem. 

Anyone remember the "Big Ron Manager" docu? Car crash tele at its finest.

At one point, Jeff Stelling narrates the plight of lower league clubs caused by the Bosman ruling and the collapse of ITV Digital . 

Suspiciously quiet about Sky's part in all this. 

[47er]

The answer for English football is the German model, community-owned, low ticket prices, big crowds and international success.

But it will never happen in ultra-capitalist Britain. Sadly.

[DE.]

So whilst I imagine FV will eventually complete their takeover of Bolton, if they are expelled what does that mean for the league structure? It's already been determined that League 1 is reduced to three relegation places and League 2 reduced to one relegation place. If Bolton also get expelled would that mean nobody gets relegated from League 2 this season? Some real #integrity there.

[philipl]

At face value...

Stewart Day had sold the stadium which has a debt on it of around £3.7m. The interest charged, eye watering.

He had sold car parking spaces, around 250 of them, at £10,000 a pop.

Without a deal to settle these liabilities there was no hope.

So that’s £6.2m

 

A tweet from Andy Holt who was helping C&N due diligence into Bury.

Blackburnian Day is emerging as the true villain in this story it would appear.

[philipl]

Bolton administration suspending winding up. Staff jobs safe for time being.

[DE.]

Somebody must have injected some money then, as it would be illegal for them to continue trading whilst being insolvent.

[Mattyblue]

So they’ve found money for Friday’s payroll then?

[tomphil]

According to some of the talk with Bolton the funds have been there ready to be put in all along it's other bickering holding it up that's probably why they keep getting the stay of execution.

[DE.]

Just now, tomphil said:

According to some of the talk with Bolton the funds have been there ready to be put in all along it's other bickering holding it up that's probably why they keep getting the stay of execution.

According to the administrators if nobody puts in any cash then the club are insolvent and therefore must begin winding up, as it would otherwise be illegal to keep running the business. So either the admins were twisting the truth in their earlier statements to try and scare KA/FV/EDT into reconvening, or there has been or will soon be money injected into the club's funds in order to make the necessary payments. 

[tomphil]

Could well be some looking to just absolve themselves of any blame with the old 'money was here all along it was somebody else's fault'.

 

[Stuart]

2 hours ago, DE. said:

So whilst I imagine FV will eventually complete their takeover of Bolton, if they are expelled what does that mean for the league structure? It's already been determined that League 1 is reduced to three relegation places and League 2 reduced to one relegation place. If Bolton also get expelled would that mean nobody gets relegated from League 2 this season? Some real #integrity there.

One of the leagues in the football pyramid will need to gain a team but I guess the EFL will look to protect its 71 members first.

Just not the ones who really need help.

Or the ones who unscrupulous venture capitalists have their eye on.

Or those whose owners “don’t have a clue what relegation is”.