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Bolton Nuts » BWFC » Bolton Wanderers Banter » REVEALED: Eddie Davies bailed out Bolton days before his death

REVEALED: Eddie Davies bailed out Bolton days before his death

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BoltonTillIDie

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Nat Lofthouse
Nat Lofthouse
Not sure what all this means but there has been a registration of a charge made on the 7th September between Moonshift and Burnden Leisure.  If someone coud decode it that would be great Very Happy  too much for me to read

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Travelodge


Mario Jardel
Mario Jardel
It means that Ken Anderson still hasn't put a bean in & there's still a massive debt hanging over the club.


Eddie Davies paid it last Friday but Anderson still elected to take it to the wire on Tuesday.

The problem for Anderson now though is that Moonshift is no longer in the hands of Eddie D, so if / when he defaults, he can now no longer exploit the fact that the debt is owed to a lifelong Bolton fan who is unlikely to call it in.

And it also begs the question: Why did Anderson release a press statement thanking Warburton & James but make no mention of the fact that ED provided the overwhelming bulk of the cash?

Remember, he made this statement after ED had died.

Classy as fuck.

No doubt Sluffy will be along in a bit to post 8 paragraphs about why Anderson's great and I'm wrong though.

wanderlust

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Nat Lofthouse
Nat Lofthouse
Basically, it's another bit of evidence that the frequently voiced concerns about Anderson are justifiable however I reiterate we don't know enough yet to prove anything irrefutably. As I've said many times before, the truth will come out eventually.

BoltonTillIDie

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Nat Lofthouse
Nat Lofthouse
Bolton news just released an article on this I think. On mobile so can’t post it

karlypants

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Nat Lofthouse
Nat Lofthouse
Official documents have surfaced this morning which confirm the Isle of Man-based businessman, who passed away on September 11, supplied a bridging loan to current Bolton owner Ken Anderson four days before his death.

Papers dated September 7 have been filed at Companies House which confirm the loan, which is secured against Anderson’s share in Burnden Leisure Limited and all company assets.

Essex-based finance company BluMarble were due to place the club into administration on September 11 over an overdue debt of around £4.8million.

Anderson had issued a statement late the previous night which claimed an offer to repay the BluMarble loan in full had been rejected.

The current Bolton owner added: "[BluMarble] will now need to fund the club administration going forward, which will take a minimum of three months and will automatically put the club in a two-year transfer embargo and a minimum immediate points deduction of 12 points.

"In my opinion, their actions will substantially reduce the value of the club in respect of any future sale and will make it far more difficult to find a future investor/buyer."

A deadline of 10am on September 11 was set for the court papers to be filed but after some late negotiations, including more financial assistance from local businessman Michael James, the club was spared an insolvency event.

The sad news of Davies’s passing during a family holiday in Portugal was announced later that evening.

Anderson confirmed on the afternoon of Wednesday, September 12, that administration had been avoided and that he had been able to restructure the club’s debts.

“I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid,” he said.

“I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

“I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5million and will be of great assistance to the club going forward.

“As previously stated, I believe the club now has one of the lowest debt positions in the Championship. I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

“I fully appreciate and understand that the last couple of days have caused some consternation for you all and I would like to apologise for that, but the whole process has been very complex and far from easy.

“We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

“I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch.”

Former owner Davies wrote off close to £200million in loans to the club which accrued during his time at the helm between 2003 and 2016.

The former Farnworth Grammar School pupil, born in Little Lever, passed on control of the club to Anderson and Dean Holdsworth in March, 2016 for just one pound.

The BluMarble loan was taken out initially by Holdsworth’s company, Sports Shield, and was renegotiated by Anderson when he became sole owner of the club in 2017.

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wanderlust

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Nat Lofthouse
Nat Lofthouse
Blackmailing a dying man to stay in power? 

Wow.

Growler


Tony Kelly
Tony Kelly
Any info on when this loan needs to be repaid.
It doesn't bode well that Ken sold Madine for £6 million in January but still couldn't/wouldn't find the money to pay off a smaller loan a few months later.
From Ken's point of view, the loan from Eddie Davies will mean he can take out his handsome consultancy fees  for a while longer.

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:Not sure what all this means but there has been a registration of a charge made on the 7th September between Moonshift and Burnden Leisure.  If someone coud decode it that would be great Very Happy  too much for me to read

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I see how the anti-Anderson nutjobs have already posted their bile - Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum because he probably truly believes what he wrote.

In simple terms all Anderson has done is re-mortgaged the club changing BluMarble to Eddie's Moonshift company.

The mortgage is taken out against KA's share in the club (the 96% he owns) so basically Ken has put his total ownership in the club up against the loan, so if he doesn't clear the loan this time he's gone and Eddie Davies estate will own it.

The mortgage is described as a 'bridging loan' the implication being that it is intended for just a short period of time.  The period of the loan nor the amount borrowed is shown - so we have no idea if KA needed the full amount of money to repay BM or say put in a couple of million or so and just need the rest to top it up.

Eddie Davies sudden death has obviously overshadowed all this but clearly neither he nor Anderson would have been aware he was near death at the time he authorised the loan, nor that he didn't do so willingly.



Norpig

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Nat Lofthouse
Nat Lofthouse
Still seems odd that he never mentioned Eddie's involvement though? Why keep that a secret?

karlypants

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Still seems odd that he never mentioned Eddie's involvement though? Why keep that a secret?

Maybe that was ED’s decision that he didn’t want it known?

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:Still seems odd that he never mentioned Eddie's involvement though? Why keep that a secret?

Maybe Eddie didn't want people to know.

It's long been said that Davies was financially helping with the wages and other financial bits and bobs but I've never seen Anderson officially acknowledge it other than in general terms.

Davies was known to be an intensely personal man who seldom put himself in the public spotlight.

karlypants

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum...

I can’t actually believe he posted this.

Wanderlust has gone way too far now. It’s quite sad and pathetic really.

BoltonTillIDie

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Nat Lofthouse
Nat Lofthouse
They both would have known that companies house would have revealed this

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:They both would have known that companies house would have revealed this

So what?

Davies never once explained any other of the multiple charges made against Burnden Leisure registered at Companies House in all the years he owned the club and no doubt KA was fully aware that Davies wouldn't have wanted him to say anything about this time either.

I think the anti-Anderson's are looking to make something out that isn't there. The bottom line basically being that Davies did all his dealings in private.



Travelodge


Mario Jardel
Mario Jardel
I am seriously considering paying Ken Anderson to shit on a Bolton flag and take a picture just so I can then read Sluffy's 20 paragraph explanation about how it was really just him demonstrating how much he loves the club and how brilliant he is or something.

Because that would definitely happen.

luckyPeterpiper

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Frank Worthington
Frank Worthington
The deafening silence from the Isle of Man when we went down from the Prem and money started to be a very serious problem was always one of the things that most irritated and mystified me about Eddie Davies. However it was consistent because he never talked about what he was doing when we were in the Prem under Big Same either. I think it's because he preferred his privacy and because he wasn't a "hands on" owner. He left everything to Phil Gartside and let Phil do all the talking. I find nothing at all unusual in the fact Eddie would remain silent regarding his last action at the club and would be willing to bet that he asked Ken to keep it quiet as well, it's just typical of the man.

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:I am seriously considering paying Ken Anderson to shit on a Bolton flag and take a picture just so I can then read Sluffy's 20 paragraph explanation about how it was really just him demonstrating how much he loves the club and how brilliant he is or something.

Because that would definitely happen.

They blocked you permanently on Twitter then because of your never ending personal abuse of people?

Ever thought it could be you with a problem rather than everyone else?




Travelodge


Mario Jardel
Mario Jardel
I'll just leave this here.

You mental fucking bastard.....

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wanderlust

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum...

I can’t actually believe he posted this.

Wanderlust has gone way too far now. It’s quite sad and pathetic really.
And how exactly do you know it's not true? 
Is it because you don't actually know? Again?

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum...

I can’t actually believe he posted this.

Wanderlust has gone way too far now. It’s quite sad and pathetic really.
And how exactly do you know it's not true? 
Is it because you don't actually know? Again?

Simple provide us with your facts to show that Anderson knew Davies was dying and how he blackmailed him.

If you can't then do the decent thing and apologise and retract your completely unfounded and totally vitriolic statement.


wanderlust

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum...

I can’t actually believe he posted this.

Wanderlust has gone way too far now. It’s quite sad and pathetic really.
And how exactly do you know it's not true? 
Is it because you don't actually know? Again?

Simple provide us with your facts to show that Anderson knew Davies was dying and how he blackmailed him.

If you can't then do the decent thing and apologise and retract your completely unfounded and totally vitriolic statement.


I don't know if it's true or not. If you'd bothered to read it you'd see it was a hypothetical question. Perhaps you'd like to enlighten us with some evidence that it's not true?

FYI you tell when it's a question because it has a weird ? symbol at the end..

:wtf2:  ....now you see it....now you don't.

boltonbonce

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Nat Lofthouse
Nat Lofthouse
You're being a bit hard on Sluffy chaps. He's got Anderson in his sights.

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wanderlust

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:You're being a bit hard on Sluffy chaps. He's got Anderson in his sights.

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"I see no shits"

Anyway this thread is about ED whose last act was to save BWFC yet again, even if it was at the price of saving the Anderson administration in the process.

Growler


Tony Kelly
Tony Kelly
Eddie Davies was such a private individual he went on Talksport for a good chat about a year ago

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Wanderlust post above is particularly disgusting and probably the worst single thing I have ever read on this forum...

I can’t actually believe he posted this.

Wanderlust has gone way too far now. It’s quite sad and pathetic really.
And how exactly do you know it's not true? 
Is it because you don't actually know? Again?

Simple provide us with your facts to show that Anderson knew Davies was dying and how he blackmailed him.

If you can't then do the decent thing and apologise and retract your completely unfounded and totally vitriolic statement.


I don't know if it's true or not. If you'd bothered to read it you'd see it was a hypothetical question. Perhaps you'd like to enlighten us with some evidence that it's not true?

FYI you tell when it's a question because it has a weird ? symbol at the end..

:wtf2:  ....now you see it....now you don't.

This is what you posted and every single one of us all knew you weren't asking yourself an hypothetical question.

[You must be registered and logged in to see this link.] wrote:Blackmailing a dying man to stay in power?

Wow.

A decent person would have held their hand up and apologised for going to far in their hatred of Anderson but not you.

Says it all really.


T.R.O.Y


Andy Walker
Andy Walker
Are Sluffy and KP actually offended by what Lust said?

Travelodge


Mario Jardel
Mario Jardel
I think Sluffy probably is in the "faux Daily Mail" sense.

His chimp just does what he's told.

Sluffy

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Admin
[You must be registered and logged in to see this link.] wrote:Are Sluffy and KP actually offended by what Lust said?

I thought it to be in extreme poor taste and in no way even close to the truth.

It was posted in hatred against Anderson by someone who has no basis at all for his hatred apart from something that happened THIRTEEN YEARS AGO!

Certainly his prejudice against Anderson is certainly vastly more than any respect he has to Eddie Davies or his family following his sudden death.

Certain not what Nuts is about.



Growler


Tony Kelly
Tony Kelly
Ken was contacting Eddie Davies asking him for money  however people want to phrase it.Bridging loans are short term loans at high interest rates, just the sort of loan that Deano was criticised for landing the club with.Will the Deano haters criticise Ken for taking one out

karlypants

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Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:I think Sluffy probably is in the "faux Daily Mail" sense.

His chimp just does what he's told.

I’m Sluffy’s chimp? You couldn’t be further from the truth Mr. W! Laughing

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