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Post by davidm on Feb 22, 2016 12:03:02 GMT
14-day adjournment
"WANDERERS are celebrating after being granted a 14-day adjournment by the High Court to complete their takeover. "
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Post by greydad on Feb 22, 2016 12:34:30 GMT
Let's hope the right deal for the club is struck before the new deadline, and thus put an end to the acrimony and conjecture that has engulfed the club for too long..as regards the footballing side of things, a repeat of Neil's first game in charge at St Andrews would be the perfect celebration of today's events.
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Post by davidm on Feb 22, 2016 14:26:34 GMT
Bit of info about Bruce Gordon the 50/50 investor with Dean Holdsworth:-
Bruce, 55, is the founder of Thames Valley Capital Limited, a venture capital and private equity firm that specialises in early stage, seed investments, growth capital and bridge loans. Until 2008, Bruce was a senior audit partner with Deloitte & Touche LLP and was a member of the Board of Partners and the partner in charge of the southern region. Prior to Deloitte, Bruce was a partner in Arthur Andersen, where he managed the UK regional practice. Until 2011 Bruce was Honorary Treasurer for the Guide Dogs for the Blind Association, one of the largest charities in the UK. He is also Chairman, and a founder, of the Honorary Treasurers Forum, a charity that promotes governance and education for Honorary Treasurers, and Honorary Treasurer of the National Council for Voluntary Organisations.
Current Directorships Thames Valley Capital Cornerstone Private Equity LLP Sabien Technology Group PLC GDBA Pension Fund Trustee National Council for Voluntary Organisations NCVO Trading TVC1 TVI 1 TVC 2 TVC 3 TVC 4
Past Directorships Deloitte LLP Knights LLP Guide Dogs for the Blind
Quite a lot of Directorships there - let's hope he brings a lot of cash with him
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Post by joanna on Feb 22, 2016 15:12:51 GMT
There we are:-none of us knew about this, did we? Most posters have been working on speculation and conjecture, quite unjustifiably and unkindly.
The bile directed at Davies was jumping the gun. In the end, Eddie has bankrolled us for almost £200 million through good times and bad. He leaves with a pittance, relatively speaking. If he wants to be the club president, it would be churlish to deny him.
In the end, his decision over the sale appears to have been the best one on offer. I don't understand how he can be criticised after giving away most of his fortune for the club's sake.
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Post by greydad on Feb 22, 2016 16:57:11 GMT
I agree Joanna, should future developments offer evidence to support those who see malpractice and/or self serving interests underpinning the sale of the club then that is the time for making those feelings known...surely one lesson to be learned from the past few weeks is that speculation is futile and often ill-informed.
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Post by Trotter on Feb 22, 2016 17:28:24 GMT
There we are:-none of us knew about this, did we? Most posters have been working on speculation and conjecture, quite unjustifiably and unkindly. The bile directed at Davies was jumping the gun. In the end, Eddie has bankrolled us for almost £200 million through good times and bad. He leaves with a pittance, relatively speaking. If he wants to be the club president, it would be churlish to deny him. In the end, his decision over the sale appears to have been the best one on offer. I don't understand how he can be criticised after giving away most of his fortune for the club's sake. Hi Joanna, do not want to jump the gun here but if you think £15.5m pay off and a guarenteed £1m a year, plus what he gets for being life president is pittance then I have to disagree, furthermore just in case you did not know Eddie's football fan history then I will let you know. Phil Gartside approached Eddie at Old Trafford were Eddie had a private box (he may still have it) so he could put his kettle element money as security while at the same time claw back roughly £6-9m per year, all this is good business for Eddie and all this being a life time Bolton supporter I personally take with a pinch of salt. Granted he is to pay off £180m but it is only what he has take out of our club, there was a rumour he also wants a percentage of all TV revenue every season.
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Post by westandlower on Feb 22, 2016 18:23:25 GMT
Bruce Gordon as someone who checks the bean counters know how to count should be good to have aboard. I would expect him to introduce systems to ensure we get value for money out of any financial transactions. Football agents may find it difficult to get inflated fees paid by the club or indeed inflated wages for their clients.
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Post by andyl on Feb 22, 2016 19:20:02 GMT
As I understand it to get the deal through Eddie changed from £15m upfront to a phased £7.5m. He has extended the repayment time line? I think we have to believe in him as a fan and benefactor even if we don't know the detail. One thing I suspect is that there has been less last minute stuff than we think. Negotiations have gone on but Marc Iles especially has been reporting detail out of sequence because he hasn't been in the firsthand loop.
Deano was on five live tonight and gave little away whilst being very respectful to Eddie and his negotiating team. He pointedly declined to commit to Neil saying only that he liked him. Fair enough really.
As fans we've been dragged through the mire. Employees have fared worse. It's hard to exonerate the current board for that and not paying the tax has been their conscious priority - presumably preferring to pay back loans to Brett W,Eddie D and Barclays?
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Post by joanna on Feb 22, 2016 21:26:27 GMT
Trotter, where are you getting these "facts"/figures from? I can't see why you seem to want to denigrate Eddie's munificence. What you say sounds like gossip,
In tonight's BN, Iles says: 'Davies will leave £15million of loans in the club but says he is not guaranteed to receive that money back.
"I'm getting a pound up front. Anything else is earned out by what position, in which league, the club finishes every season. It's highly probabilistic, that, so there's no guarantee on it at all,” he said.'
Overall, I see that, apart from greydad, we are still speculating without any hard evidence and in a rather unpleasant way.
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Post by joanna on Feb 23, 2016 11:31:16 GMT
The club has been bought for just £1 down plus £7.5 million to be spent by the new owners until the end of the season.
After that they are committed to invest a further £12.5 million for the next 5 years.
£3 million to pay the tax bill and £4.5 million to pay the difference between income and expenditure until the end of the season - in other words to allow the club to trade at break even until the end of July.
The further £12.5 million will, at least for 2016/17 season, again be used to meet the shortfall in the running costs whilst we still have big player wages to be met.
In other words, he has waived almost all the debt at his personal expense.
Don't you think that the truth is that Davies has taken time to arrange the best possible deal for the benefit of the club he has supported (in all senses of the word) since his early years?
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Takeover
Feb 23, 2016 11:57:19 GMT
via mobile
Post by riochforthereebok on Feb 23, 2016 11:57:19 GMT
I tried to get through on BBC Radio Manchester last night to throw my two penneth in but couldn't!! All I wanted to ask Dean Holdsworth, after one of the studio guests asked him the question 'who are your business partners' and he clammed up with the word 'private' I just wanted to say that after Big Sam left and we were still in the Prem with heaps of cash, under a chairman we had just grown to dislike and an owner that should have been heard instead of being seen, the question I wanted to put to DH was if your not disclosing your backers, what confidence can you give us poor suffering fans, that you are in a better financial position than ED to bring us back from league 1, because let's face it, that's where we're heading. I only every want the best for my team and I'll give DH every chance as I did with Lennon, but the latter named has pushed my patience to the absolute limit. DZh sounded like he's going to bring a bit of attitude to his new position as potential chairman, not a bad thing in some cases but he needs to be sympathetic to us supporters before starting to show any arrogance.
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Post by bonaparte on Feb 25, 2016 0:09:00 GMT
We know the published debt owed to Mr Davies, does anyone know how much he has taken out of the years in interest and dividends? Does anybody know how much his tax burden was reduced? Would help to understand the situation better.
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Post by davidm on Mar 7, 2016 15:31:51 GMT
Well, that must go down as one of the most traumatic days of our BWFC supporting life.
Another adjournment but definitely "the last one" this time.
What an utter shambles!!!!
Not only an Eddie Davies/BWFC shambles but also a Sports Shield shambles.
What is Dean Holdsworth playing at? An investor has now dropped out so we don't have the money to satisfy the Football League.
Utter utter shambles - with more to come probably. It is like taking your old pet to the vets to be put down and the vet giving you even more medicine when you all know it won't work.
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Post by andyl on Mar 7, 2016 16:56:03 GMT
Good comparison ,David. Exactly like that. A horrible afternoon .
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Post by davidm on Mar 7, 2016 18:34:18 GMT
Well, that must go down as one of the most traumatic days of our BWFC supporting life.
Another adjournment but definitely "the last one" this time.
What an utter shambles!!!!
Not only an Eddie Davies/BWFC shambles but also a Sports Shield shambles.
What is Dean Holdsworth playing at? An investor has now dropped out so we don't have the money to satisfy the Football League.
Utter utter shambles - with more to come probably. It is like taking your old pet to the vets to be put down and the vet giving you even more medicine when you all know it won't work.
Does anyone expect any improvement by the time of the next court case?
2 weeks is a short time as shown by the last 2 weeks of inactivity which nearly brought us down today. If Eddie Davies continues his brinkmanship then we are in even deeper trouble. The court must eventually run out of patience.
It's just a case of another 2 weeks of misery before, presumably, some decision is made on March 21st.
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