Eddie Davies to become club president

observer wrote:One additional caveat... ED joins Nuts as a moderator and holds title of honorary Nut!

 that's it i'm out, how did Johnny delete his account again? 

Norpig wrote:

observer wrote:One additional caveat... ED joins Nuts as a moderator and holds title of honorary Nut!

 that's it i'm out, how did Johnny delete his account again? 

hacked it

Good for him.!
There is a groundswell of abuse of Eddie Davies- all sorts of accusations against him but all of them are based on rumour, speculation and just general bad mouthing.

There are accusations of him making a handsome profit from the club- but not one of you accusing him of this has brought a shred of evidence to prove this. Some of the 'financial'  claims and statements made are simply ridiculous - showing a level of financial naiveté about how businesses actually work.
Lets be clear about two things:

a) Eddy bankrolled this club for a decade- he's invested close on a couple of hundred million pounds ,and now he's written the vast part of that off. None of you (and I mean none of you) knows the detail of his financial contribution to the club and what he may have got in return. Don't claim to,because the facts ,the real facts are not in the public domain

b) because of his money we had a fantastic run in the premier league, possibly the best times that any of us will ever see. Eddies money made that possible.

I'm not claiming he's a saint or the most ethical person to grace the face of the earth because I don't know that much about where he got his money or what he was like as a person- but no matter what anyone says, the success in the Prem would not have been possible without him. And for that I'm grateful to him.
So- if you want to come back and criticise what I'm saying, and of course you're free to do so- then back up your arguments with facts and not just your subjective opinions because you want to blame someone for the mess we're in now.
 If he becomes president I'll salute him!!

rammywhite wrote:Good for him.!
There is a groundswell of abuse of Eddie Davies- all sorts of accusations against him but all of them are based on rumour, speculation and just general bad mouthing.

There are accusations of him making a handsome profit from the club- but not one of you accusing him of this has brought a shred of evidence to prove this. Some of the 'financial'  claims and statements made are simply ridiculous - showing a level of financial naiveté about how businesses actually work.
Lets be clear about two things:

a) Eddy bankrolled this club for a decade- he's invested close on a couple of hundred million pounds ,and now he's written the vast part of that off. None of you (and I mean none of you) knows the detail of his financial contribution to the club and what he may have got in return. Don't claim to,because the facts ,the real facts are not in the public domain

b) because of his money we had a fantastic run in the premier league, possibly the best times that any of us will ever see. Eddies money made that possible.

I'm not claiming he's a saint or the most ethical person to grace the face of the earth because I don't know that much about where he got his money or what he was like as a person- but no matter what anyone says, the success in the Prem would not have been possible without him. And for that I'm grateful to him.
So- if you want to come back and criticise what I'm saying, and of course you're free to do so- then back up your arguments with facts and not just your subjective opinions because you want to blame someone for the mess we're in now.
 If he becomes president I'll salute him!!

 Completely agree, as my earlier post shows.

yes he did bankroll the club but even you must see his conduct lately has been shocking. As the main shareholder and effectively the owner of the club you cannot just decide that's it i'm not putting in another penny. If you own the club you have to pay the bills until it's sold. 
That's what has upset me and not what he has done for the club in the past which as you say Rammy has to be admired.
The trouble is now most fans will only remember this last part of his reign because of what it nearly did to the club.

But, Norpig, none of us knows exactly what machinations and politicking have been taking place to get the club to this point. For all we know, the whole thing could have been orchestrated neatly in order to achieve the best possible outcome in the circumstances.

 Surely, we all realise that what the public are allowed to know  and what is reality are two different things. Did you ever watch GBH by Alan Bleasedale or The Thick of it? Behind the scenes, there lies all manner of intrigue. For example, do you really think that there is no underlying agenda involved in Boris' delays and final announcement timed to perfection just as Davies/Birch's was? In the end, Eddie will only get back a fraction of what he invested, and we surely can't quibble over that, given that the club is ultimately saved.

Norpig wrote:yes he did bankroll the club but even you must see his conduct lately has been shocking. As the main shareholder and effectively the owner of the club you cannot just decide that's it i'm not putting in another penny. If you own the club you have to pay the bills until it's sold. 
That's what has upset me and not what he has done for the club in the past which as you say Rammy has to be admired.
The trouble is now most fans will only remember this last part of his reign because of what it nearly did to the club.

To be honest I didn't see his behavior as shocking. I think he's a genuine bloke and supporter who genuinely wanted the best for the club. I'm prepared to take him at his word.
As  a shareholder he's not responsible for the clubs debts. The club is- that's the nature of doing business as a limited liability entity. There is a clear gap between the club and its owners in UK law. I'm a shareholder in a few companies and I have no legal responsibility for the debts of any company that I have shares in. The debts are theirs.
 He gave notice to the club that he wasn't lending any more of his own money - and that the club had to pay it own debts.
He took his time (and probably a lot of advice from his financial advisers) as to who to sell his shares to.I  presume it took so long as none of them either had, or was prepared to put up the cash that he (and the club) thought was appropriate to clear immediate debts and inject sufficient funds to ensure the club running costs were in place. Without the promise of hard cash on the table ,then anyone bidding for the club was wasting his and their time. The fact that the deal was done at the eleventh hour- just before the threat of administration crystallized to me meant that the pressure was on the bidders -either put up or shut up.
I'm not being deliberately contradictory here ,but  in terms of ensuring that the club is a going concern  was paramount in his view and I think he has achieved that. The Tamraz bid, the ST shenanigans, the Stelios consortium, were all shallow and unfunded. Who of us had even heard of Bruce Gordon before this morning?
I think we've got the best outcome possible and we can move forward now under a new flag.
ED has every right to arrange his financial affairs in the way that's best for him- and not necessarily for BWFC, and that is the same for any of us.
So- I don't think his behavior was shocking. It wasn't what we as fans wanted- but that's an entirely different affair. Like every one else I didn't and don't know the actual facts of what was happening, and I had no real right to know. Being a fan creates an emotional bond with the club ,but doesn't create any other rights.
I think Eddie has done the right thing here - and so its onwards and upwards hopefully from now on.

rammywhite wrote:

Norpig wrote:yes he did bankroll the club but even you must see his conduct lately has been shocking. As the main shareholder and effectively the owner of the club you cannot just decide that's it i'm not putting in another penny. If you own the club you have to pay the bills until it's sold. 
That's what has upset me and not what he has done for the club in the past which as you say Rammy has to be admired.
The trouble is now most fans will only remember this last part of his reign because of what it nearly did to the club.

To be honest I didn't see his behavior as shocking. I think he's a genuine bloke and supporter who genuinely wanted the best for the club. I'm prepared to take him at his word.
As  a shareholder he's not responsible for the clubs debts. The club is- that's the nature of doing business as a limited liability entity. There is a clear gap between the club and its owners in UK law. I'm a shareholder in a few companies and I have no legal responsibility for the debts of any company that I have shares in. The debts are theirs.
 He gave notice to the club that he wasn't lending any more of his own money - and that the club had to pay it own debts.
He took his time (and probably a lot of advice from his financial advisers) as to who to sell his shares to.I  presume it took so long as none of them either had, or was prepared to put up the cash that he (and the club) thought was appropriate to clear immediate debts and inject sufficient funds to ensure the club running costs were in place. Without the promise of hard cash on the table ,then anyone bidding for the club was wasting his and their time. The fact that the deal was done at the eleventh hour- just before the threat of administration crystallized to me meant that the pressure was on the bidders -either put up or shut up.
I'm not being deliberately contradictory here ,but  in terms of ensuring that the club is a going concern  was paramount in his view and I think he has achieved that. The Tamraz bid, the ST shenanigans, the Stelios consortium, were all shallow and unfunded. Who of us had even heard of Bruce Gordon before this morning?
I think we've got the best outcome possible and we can move forward now under a new flag.
ED has every right to arrange his financial affairs in the way that's best for him- and not necessarily for BWFC, and that is the same for any of us.
So- I don't think his behavior was shocking. It wasn't what we as fans wanted- but that's an entirely different affair. Like every one else I didn't and don't know the actual facts of what was happening, and I had no real right to know. Being a fan creates an emotional bond with the club ,but doesn't create any other rights.
I think Eddie has done the right thing here - and so its onwards and upwards hopefully from now on.

Although I griped at the lack of information, I have to look over the whole tenure of ED, and say that I agree wholeheartedly with Rammy.

all the posts after mine are from people far more intelligent than me so i bow to your better financial knowledge. If you take the emotion out of it all it makes sense but it's BWFC and i can't do that to be honest

Norpig wrote:all the posts after mine are from people far more intelligent than me so i bow you your better financial knowledge. If you take the emotion out of it all it makes sense but it's BWFC and i can't do that to be honest

Norpig- breaking the emotional tie  to them is something that none of us can do. I've tried several times- kidding myself that it doesn't matter. But never managed it yet. It does matter. We're all in the same boat. It's almost like having a date with a disease.
If we could manage to break the bond then we'd probably all live a lot longer.
Tonight I'm going to raise a glass to Deano!!

Rammy, it's reassuring to see that I'm not alone in my views. Perhaps it's because we once lived close to each other that we are kindred spirits! Thanks for putting it all so clearly.

I'm not doubting anything that Rammy says for one second because he's the only one on here who actually does this for a living.

But the bit that sticks in my craw is the way that ED is constantly painted in the BN as some wonderful, altruistic Bolton fan who only ever acts in the best interests of the club.

His recent actions have been anything but those of someone who's put the club first in my view.

I know he's not legally liable for paying the toilet cleaners on time at Christmas, but if he really was Mr Bolton Wanderers, he'd have put his hand in his pocket and done the decent thing at the time instead of ruining Christmas for many hard-working families in Bolton.

And I will always maintain that he's not lost out financially on Bolton Wanderers - I know I've no proof but I find it inconceivable that someone who is so obviously ruthless when it comes to money has allowed £180 million of his own cash to be pissed away over the years.

It just doesn't stack up.

And we're only really seeing anything like an insight into how he operates now that his buffer is no longer alive to shield him from prying eyes.

The guy obviously drives a hard bargain, so it seems inconceivable to me that he'd allow the club to run up a debt of £180 million to him because he must have known he'd never get it back.

And Bolton fan or not, I can't see him ever having thought that was a good idea unless there was something in it for him.

Eddie Davies: "I've written £170 million off as a gift to the club, the fans and the town of Bolton."

Bread Man: "No you haven't."

when is the open top bus parade for Saint Eddie planned for?

ED on SS "They proved they've got the money and they've got an experienced team"

How did he beat Trump to it, I didn't know he was in the running.

Maybe we can all relax now, and see how our teams revival is to be planned

Think Lennon will be shitting himself.

MartinBWFC wrote:Think Lennon will be shitting himself.

Why? It might be good for him if there's a bit more dosh about