Sports Shield ready to walk away from Wanderers takeover talks/ ST bid to buy club

we are all fed up with it 58 and Saint Eddie wants shooting, he needs to get his big boy pants on and come back and sort this mess out. February 22nd will be here before we know it.

It's time either Saint Eddie or the very silent Birch came out and explained fully what is actually holding this whole sorry saga up now

i am still hoping the ST can be formed and have some say in how the club is run but they can't surely think they can run the club? They haven't even got an elected board yet and as mentioned many times the ST running the club will severely limit us to the lower leagues.

Depends what the delay is, if he's really waiting for a party to show they have the necessary long term funding then waiting is probably the best option for us.

If Holdsworth's lot had the funding in place to do that, they'd have concluded the deal weeks ago.

So that either means (A) they haven't or (B) they have but ED doesn't want to sell to them.

My theory (and that's all it is before Lusty pops up and shouts at me) is that ED obviously wants to deal with the ST (which he controls via his mates) but he's been keeping Holdsworth's lot warm just in case he couldn't get his mates in the ST to sort their act out in time and secure the necessary funding from "high net worth individuals" and local business (Disley?).

Plus, he needs to prove to HMRC and the court that people are genuinely interested in buying the club otherwise we get slapped and possibly wound up, so Sports Shield are good for that if nothing else.

Have to say Breaders, I can see some truth in that view.

Breadman wrote:
My theory (and that's all it is before Lusty pops up and shouts at me) is that ED obviously wants to deal with the ST (which he controls via his mates) but he's been keeping Holdsworth's lot warm just in case he couldn't get his mates in the ST to sort their act out in time and secure the necessary funding from "high net worth individuals" and local business (Disley?).

Pop. 

It's a theory and it could be right, but so could a bunch of other theories.
What is clear is that Marc Iles is publicising the idea that ED is "moving the goalposts" as regards Deano's bid specifically that they got the £6million together and were then told that £8 million was needed.
Now the £6million was allegedly to pay off Director's loans plus a pound to buy the shares, but to my knowledge, no other Director's loans have been accrued - unless this car park thing didn't materialise as expected/in time so ED or another Director has bunged the club another £2 million to pay the January wages - but I've not heard anything about that.

Whether ED wants to deal with Deano has always been questionable especially as he insisted on certain undisclosed criteria are met (anti asset-stripping measures?) and there's this alleged association with Disley that might have put him off. Either way, it does appear that ED is stalling.

If ED is protecting the club from a load of sharks then that's commendable but if he's playing a game hoping that somehow the ST will find £8million down the back of the sofa and is hanging on in the hope they'll buy the club then he's an effing idiot.

Marc Iles is clearly promoting the ST but it wouldn't surprise me if ED will seek the same assurances and financial criteria as he has with Deano should the imaginary £8million appear out of the ether.

Then there's the alleged Korean interest. Deano wants the deal to be closed i.e. they are named the preferred bidder - but maybe ED and Trevor still reckon the Koreans could come through and are therefore reticent to give exclusivity to Deano unless every i is dotted and every t is crossed. Or maybe they're just being awkward to Deano because they prefer the security a bank could bring? 

The fact that ED is in the Bahamas is irrelevant and wouldn't slow negotiations down at all seeing as he could conduct the whole thing by teleconference, Skype or Facetime. 

At the end of the day, it all comes down to what Deano's and the contending business plans contain. Unfortunately nobody is going to tell us - mainly because I imagine that they will all feature a considerable amount of austerity and a minimal amount of investment in the squad which is what will be required to make BWFC a sustainable business in the short term.

Whatever is really going on will probably come out in the fullness of time, but like everyone else, I'm pissed off that they haven't managed to negotiate a solution yet.

The most interesting part of the article is the fact that Big Eddie is in Barbados......that about says it all for me.  Can't be bothered being home for the most critical time in BWFC history.  Another point about a 6 or 8 million owed ..... are you fooking joking......pocket change is holding this up?

He's probably not allowed to come home because it would affect his non-resident status and mean he was liable for paying some tax for a change.

And, as we all now know, Eddie don't do tax.

Breadman wrote:.

And, as we all now know, Eddie don't do tax.

He doesn't do much the lazy bent twat

terenceanne wrote: 6 or 8 million owed ..... are you fooking joking......pocket change is holding this up?

If the club is losing 10 million a year (more I think) and some current player contracts don't expire until 2017 then new owners will have to fork out 6 or 8 million plus a quid for EDs shares plus running costs plus asset protection plus this other bill that relates to the actual procurement which hasn't been mentioned for a while.

If it takes two years say to get the salaries down to a manageable level the buyers will probably need a minimum of £25 million - possibly more - just to get to that point at which time they'll own a L2 team with smallish crowds and poor players.

The 2 million difference seems quite a lot in the overall context. It certainly is to me.

Fans always argue that owners should invest in the team to get higher income e.g. TV rights/Prem payments - so who are we to gamble with other people's money?

Our problem is that the potential bidders like Deano seem to be struggling to get the initial seed capital together let alone having enough to invest in the squad.

Wander, you seem to be extremely switched on with all this stuff. Can I ask, if the ST becomes the, or part, partner, will its liabilities fall on the supporters who have joined them , i.e. if the trust is suddenly required to find (for talking's sake), £1m, can they hold the supporters, legally, to payments ? If not, how are they going to find the cash they might need, whether at short notice, or otherwise.?

wanderlust wrote:

terenceanne wrote: 6 or 8 million owed ..... are you fooking joking......pocket change is holding this up?

If the club is losing 10 million a year (more I think) and some current player contracts don't expire until 2017 then new owners will have to fork out 6 or 8 million plus a quid for EDs shares plus running costs plus asset protection plus this other bill that relates to the actual procurement which hasn't been mentioned for a while.

If it takes two years say to get the salaries down to a manageable level the buyers will probably need a minimum of £25 million - possibly more - just to get to that point at which time they'll own a L2 team with smallish crowds and poor players.

The 2 million difference seems quite a lot in the overall context. It certainly is to me.

Fans always argue that owners should invest in the team to get higher income e.g. TV rights/Prem payments - so who are we to gamble with other people's money?

Our problem is that the potential bidders like Deano seem to be struggling to get the initial seed capital together let alone having enough to invest in the squad.

Yes Sir.....therefore if a consortium can't raise the pocket change it leads me to me usual argument that we need to be sold to a sheik or Russian bloke with deep pockets. Whereby the 25 mill you mention is peanuts.
Of course we don't have one of those available it would seem.
And back to my original post months ago....what is the purpose of this takeover? what do the new owners want out of it.....doesn't look like any profit for starters. Beats me lads.

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According to Iles, Sport's Shield's bid is "in limbo".

He's also given a bit of insight: Joint venture between SS and "Indian businessmen" with "big plans".

But then he says this: "but there are reservations about mortgaging on assets & interest."


I can't work out who's got the reservations, them or ED, because it's in a tweet so there's no context and he doesn't go on to explain who he means.

But he did go on to say that "someone else is coming up on the rails rather blumming quickly"

Wonder which bunch of feckless Bolton-based, self-promoting twats that is then....?

Load of bollocks.....

Barb Dwyer wrote:[You must be registered and logged in to see this image.]" />

Who is that on the right?

Sidney Poitier I think

It's Peter Reid.

it's roy walker

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bwfc1874 wrote:it's roy walker

[You must be registered and logged in to see this image.]

You know how you hate when people highlight certain words/sentences?

I hear an Indian Chip Shop is financing us through this Saturday's game. The hold up with further money is the fact that they want to change the name of the club to  "Faruk's Curry, Chips and Football Club"
Bloody Eddie is complaining about that as well.

Boggersbelief wrote:
You know how you hate when people highlight certain words/sentences?

Yes I do.