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Post by joanna on Feb 16, 2016 19:30:57 GMT
Meanwhile, leaving behind petty duels with Andy L, it looks this afternoon as if Nixon is suggesting that billionaire Tamraz is close to succeeding in his bid to take over the club!
It remains to be seen whether this will be the reality in the end.
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Post by davidm on Feb 16, 2016 19:46:08 GMT
How come Alan Nixon always knows more than Marc Iles ?
The details are so sketchy (secretive) that it's hard to know what's best but something positive needs to happen quickly.
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Post by Deleted on Feb 16, 2016 20:27:39 GMT
How come Alan Nixon always knows more than Marc Iles ?
The details are so sketchy (secretive) that it's hard to know what's best but something positive needs to happen quickly.
Latest statement is that Ed will tell on Friday who is the preferred bidder and then they can go court and fight the order, next step will of course be due diligence (and that will take time) then the bidder will have to pass the FA s "fit to own test" so it looks like we will not have any new faces before next summer , still I suppose its a step forward .
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Post by andyl on Feb 16, 2016 20:30:23 GMT
Marc Iles is pretty distant from the ongoing negotiations as perhaps he has to be. Our court day looms. A decision has to be reached this week. The potential buyers are on the point of finalising their interest.
It's just a shame that all this is probably too late to save us from relegation but the club will recover..somehow. It always does!
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Post by Trotter on Feb 17, 2016 8:11:06 GMT
One would think that anyone interested in buying BWFC would have bought us while the transfer window was open so then we could form a team to take on the challenge of relegation rather than have the mess that has just happened.
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Post by kcobain4 on Feb 17, 2016 12:58:12 GMT
One would think that anyone interested in buying BWFC would have bought us while the transfer window was open so then we could form a team to take on the challenge of relegation rather than have the mess that has just happened. It can actually work out cheaper for them to rebuild a team from league 1, especially with the financial fair play rules since the teams relegated to league 1 from the championship they get a 3 year exception from conforming to the wage budget limits set in league 1.
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Post by davidm on Feb 18, 2016 18:21:20 GMT
Well it looks like Sports Shield and Dean Holdsworth are the preferred buyer.
Apparently, Wanderers have given Sports Shield sole rights to examine financial data and complete contractual formalities within a given period of time.
Don't know what to think of that but I thought that they had no money.
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Post by realtrottersforever on Feb 18, 2016 20:38:26 GMT
So it looks like we are going from a guy who has money but won't spend it, even to pay liabilities that were incurred whilst he was the owner, to a group that would appear to have no money at all. But at least we won't need to worry about asset strippers, because Steady Eddie won't be leaving many assets to strip.
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Post by davidm on Feb 18, 2016 21:00:11 GMT
Is this just delaying tactics for the court on Monday ? Are they trying to con the court that the takeover is nearly done? Which it isn't.
Sports Shield will only now have access to the books so there is no way they can OK the takeover by Monday.
Does anyone know who, apart from Dean Holdsworth, Sports Shield are and what funds are available?
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Post by andyl on Feb 19, 2016 8:22:59 GMT
Sports Shield had completed due diligence?Ok to proceed I thought much more readily than others. Isn't it a business offering insurance to agents and players?If so it will not just depend on BWFC long term. Presumably Deano will also be able to connect with local businesses if he wishes to and also the ST. Has to be the best outcome. He could even play...bound to be quicker than Madine. It will be interesting to see how long Neil lasts? End of season?Days?10 years?
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Post by Deleted on Feb 19, 2016 10:12:58 GMT
Sports Shield had completed due diligence?Ok to proceed I thought much more readily than others. Isn't it a business offering insurance to agents and players?If so it will not just depend on BWFC long term. Presumably Deano will also be able to connect with local businesses if he wishes to and also the ST. Has to be the best outcome. He could even play...bound to be quicker than Madine. It will be interesting to see how long Neil lasts? End of season?Days?10 years? Sorry Andy but you cant complete due diligence until you are the preffered bidder , due diligence means you get into the bank account ect and can take many weeks in some cases (everton for eg) months ,as for the local interest my info is that one of Bolton large building firms has taken up offers in the Sports shield consortium , as for NL could be hours .
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Post by greydad on Feb 19, 2016 10:26:16 GMT
Hopefully the takeover ( with Sports Shield seemingly in the vanguard)will proceed with the club's best interests at heart.The sale of Euxton has been confirmed on the Bolton News website this morning.... does that allow us to assume the High Court hearing should be suitably appeased? I'm sure speculation and misgivings will continue to surface, but at least there appears to be some clarity of purpose at long last. I would assume that Neil's position will be under even closer scrutiny from here in, I'm sure that Deano will have been monitoring things thus far.
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Post by Phil from Smithills on Feb 19, 2016 12:45:48 GMT
Am I right in thinking, that even if we do NOT now go into administration, as BWFC have not submitted their accounts and so have not fulfilled a Football League requirement and also ie. that we could not guarantee to fulfil next seasons fixtures, then the embargo will still not be lifted for us to start bringing in new players.
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Post by andyl on Feb 19, 2016 13:13:27 GMT
II'd heard that Deano had identified some money.It will probably all limp along for a while yet.. But all in all I think Deano has persisted and may be the best option?I hope he doesn't uncover too many skeletons?
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Post by westandlower on Feb 19, 2016 17:53:08 GMT
Meanwhile we seem to have been paying off various debts. Except those owed to Barclays and HMRC. The sale of the Euxton having been agreed, there would appear to be £2.2M available shortly for HMRC. Hopefully there is still some cash available after selling the car park and settling the other debts, or HMRC may take a dim view.
It's going to be an interesting couple of days.
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