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Post by andyl on Aug 26, 2019 15:04:28 GMT
Marc Iles , as ever lacking source materials speculates that it's completion, liquidation or just maybe a last ditch rescue. This is something of a Life of Brian choice, rescue or liquidation...rescue please, just kidding liquidation.
Both FV and the Kamani Property Group seem to be focused on the hotel. It has never been clear what drives FV. Is it property, Michael James' fandom or just low cost opportunism, maybe loan- funded. But they are the preferred bidder.
Again the old chestnutt rages.. It's Ken putting a spanner in the works. Boo hiss. Well we've done such a good job of pillorying him is it a surprise if he strikes back?. Or is it the Fildraw Trust? Do they want something?
And then again we have the administrators who aren't going to be saddled with employment responsibilities and will liquidate us from Wednesday. Threat or preference?. And coincidence of all coincidences the EFL might expel us then too.
Marc Iles may be flying kites here but what if those pretty little things the Kamani brothers spent a bit of loose change and bought bwfc. We might see bwfc continue and the stadium hosting Rita Ora or Miley Cyrus concerts.
It all descends to the farcical, liquidate, exterminate etc. Is this what my now 60 years of watching bwfc have come to? Boo hoo hoo!
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Post by Deleted on Aug 26, 2019 15:27:03 GMT
A good and humorous post Andy. To be honest I'm fed up with the roller coaster sale. It's worse than Brexit.
Maybe liquidation isn't such a bad thing. They can knock down the breezeblock. I don't see how anyone can maintain that stadium with crowds of 5000 in Lge 2, or worse if we lose league status.
The club start off again and the council donate some land in "Bolton" just off Bradshawgate and build a 10,000 capacity stadium, with room for expansion.
It'll be tough and our great name will be consigned to history, but we will always be BWFC. If Salford can get promoted quickly thro the ranks, then so can we.
You're right boo hoo hoo.
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Post by whitesince63 on Aug 26, 2019 17:16:08 GMT
But will our great name be consigned to history wots, I’m not so sure? Surely our full title is Bolton Wanderers Football AND ATHLETIC Club. If we just dropped the “and Athletic” bit, surely we could still retain the BWFC bit? I am of course still confident (or just naive!!) that a compromise will be agreed and a deal done. I’m not really sure what to make of the Boohoo situation because I still can’t work out why they would want the hotel if they don’t want the club. Surely only the whole thing is worth buying and given the current statements, the club is the part that’s under threat. On that basis Boohoo need to make a cash bid for the whole thing, otherwise I think we could be toast. Clearly the FV bid is totally reliant on Anderson and Fildraw compromising and according to the Administrator, despite their intervention, both parties are refusing to give in. I wonder if the BN will have a blog tomorrow because we’ll all be on the seat of our pants until we hear the resolution.
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Post by Alptrotter on Aug 26, 2019 17:31:23 GMT
Really dispiriting news. I’m much less confident that the club will survive now. I can’t help but wonder if there is a subtext somewhere about redeveloping the site for retail use....
I’m not at all familiar with the financial rules about administration, but I thought the EFL rules about ‘football creditors’ being paid in full were absolute.If FV don’t have the csh to do this, how can their bid have been accepted? And if they have, what’s the problem?
I suppose with hindsight we can see:mistakes at every stage of the sad story. If it is indeed the end of BWFC, if there is any justice, it will also be the end of the EFL in its current form. I think it comes out of the sorry mess as badly as anyone.....
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Post by cadders on Aug 26, 2019 19:33:28 GMT
My reading of this is that FV bid based on the values agreed by the admin after discussions with the secured creditors, who have since either increased their value or want some form of indemnity against any future unknown debts/liabilities (Bassini?). The secured creditor values in the accounts were different to those claimed.
Have a read of this report from Companies House as issued by the Administrators beta.companieshouse.gov.uk/company/00043026/filing-history - look for the PDF titled Statement of administrator's proposal
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