Club Future - Administration or bust?

luckyPeterpiper wrote:

y2johnny wrote:

MartinBWFC wrote:“Unfortunately Inner Circle Investments and Ken Anderson as the only director of the company cannot allow this process to continue and therefore he is now receiving independent advice from his professional advisors."
 
 
'Following recent events Inner Circle Investments sought out independent advice from professional advisors. They stated that it was not possible to continue to run the club with such a negative outlook and therefore, with deep regret, Inner Circle have been left with no alternative but to pursue a liquidation process'

Wheres that from Martin?

It's here johnny at the end of the statement.

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Where is the part about liquidation?

Deano sorry about that. It was on the official statement's last paragraph earlier in the day but as I just told johnny it's been altered at some point this evening to read:

Unfortunately Inner Circle Investments and Ken Anderson as the only director of the company cannot allow this process to continue and therefore he is now receiving independent advice from his professional advisors. 
A further announcement will be made once a final decision has been made.

I don't know how much if any stock you'll put in anything KA has to say but this is his latest "Note From The Chairman"

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Following on from the club statement made earlier today, l consider it appropriate to update everyone on recent events.
Over the last three weeks several senior staff and l have found working with Mr Bassini to be a daily draining challenge and to be honest bares no comparison with the previous discussions and negotiations with the other earlier interested buyers, which were at all times professional and remained confidential.

Unfortunately, we never really know what Mr Bassini’s true intentions are, as they constantly change and following his recent statements to the media, l consider it necessary to respond to a number of his comments.

Despite numerous promises and assurances to the playing staff, management, non-playing senior staff and myself, Mr Bassini has continuously failed to provide any financial funding whatsoever.

I note that he has gone on record and stated that he transferred £1 million yesterday to the club, but as far as l am aware all he did was to get a relation to transfer £1million to the family solicitor. This would not enable him to pay the player salaries that he has been promising to pay every day for the last week.

During my dealings with Mr Bassini he has constantly changed his lawyers and l believe we are now talking to the fourth or fifth firm of lawyers, which does not help matters progress.

From the outset, Mr Bassini has continuously assured me that he had sufficient personal funding to take the club forward to the next level. Over the last three weeks it has become patently obvious that this may not be the case.  Indeed, earlier this week he provided a conditional offer of funding from a broker which the EFL have confirmed is not acceptable in its present format. I must also mention that at this stage,  Mr Bassini has still not been approved by the EFL under the OADT,  although l accept that may or may not be forthcoming in the future.

We received a letter yesterday from one of Mr Bassini’s lawyers stating that Mr Bassini had paid Paul Aldridge the token consideration required under the Sale and Purchase Agreement. Mr Aldridge has categorically denied that any monies were paid to him and of course the consideration cannot be paid until the EFL have sanctioned the change of ownership. The Lawyer also stated earlier in the week that Mr Bassini would be providing details of the person to be appointed a director of the group companies. To date, this information has still not been received. Furthermore, l categorically deny that l have told Mr Bassini that I want to stay on as a director, as has been reported in the Bolton News today. However, l am unable to resign until a new director is appointed.
I was also surprised to listen to Mr Bassini  during his Sky Sports News interview discuss the two offers he had received by the previously interested parties that I had held discussions with that would have given him a  £20million profit, but he had declines their offers. I find it difficult to believe that they made any such offers and was quite frankly concerned to learn of the comments made and despite Mr Bassini’s assurances that the game would go ahead  as we all now know that has not happened. 
There is a great deal more that l could say  but in an effort to try and progress matters and bring everything to a conclusion, l have decided to give Mr Bassini until close of play on Monday to complete the outstanding matters, or l will have to consider exercising the alternative options available to me. The ball is now firmly in Mr Bassini’s court.

Rubbish

Ameobi wanted in China? What the fuck for? Toilet cleaning?

He's signed a deal with bafooni. It will end up in court if he tries to sell to someone else.

Hipster_Nebula wrote:Rubbish

Agreed, no chance.

Hipster_Nebula wrote:He's signed a deal with bafooni. It will end up in court if he tries to sell to someone else.

I doubt it mate. When a deal like this is signed there's usually a clause saying payment will be made by a specific date. If Bassini hasn't made payment by that date then the deal is null and void. I seriously doubt Ken would impose a deadline of close of business Monday if that was breaching the terms of the contract that's been signed. It's also significant to me that today Bassini is only claiming to be 'confident' he'll be able to complete the deal this week and that the Brentford match will also happen this week rather than saying it's definitely going to happen.

BASSINI is a clown and clearly out of his depth.

He won't be completing any deals with KA.








Perhaps he is just there as a smokescreen.

So today is the day Kenocchio has set Bassini to complete or we go into administration i would think? Whats going to happen in the latest installment of this shambles?
Netflix should have picked us instead of Sunderland for their documentary series, would have been a ratings buster!

Norpig wrote:So today is the day Kenocchio has set Bassini to complete or we go into administration i would think? Whats going to happen in the latest installment of this shambles?
Netflix should have picked us instead of Sunderland for their documentary series, would have been a ratings buster!

Wasn't there a series on Netflix called 'Stranger Things'?

I'd like to see something stranger than this farce.

Are you going to go to the rearranged game Boncey? They are saying possibly Wednesday but it will be a mixture of u18's and u23's.

You could both be in for a real treat there Norpig if you can make it.

At least it won’t be the usual 11 bellends and could be a nice refreshing change!

Can we just expect the under 18s and 23s to turn up and play for free?

Maybe I'm not clued up enough but surely they're in the same situation as the senior players and also expect to be paid.

Nothing will come of this fake ultimatum and it will just rumble on and on.

The EFL have said the fixtures have to be completed one way or another. I suppose it depends on what happens after today with Kenocchio's deadline.
Might see a bit of effort from the youngsters at least.

We have till Sunday to complete two fixtures, if we fail in this then a whole new ton of crap will be heading our way even if we get decent owners, failure to complete the fixtures could have a huge impact on our future.

 Sure the players have a case but the bottom line is they will walk away in a few weeks time and will get paid via the PFA or as a secured creditors or a new owner. Leaving us the fans and whats left of the club to deal with the fallout.

Norpig wrote:Are you going to go to the rearranged game Boncey? They are saying possibly Wednesday but it will be a mixture of u18's and u23's.

Not sure yet. Summoning the required enthusiasm is proving difficult. Night matches find me standing in Leigh bus station waiting for the last bus home  at 11pm, hoping I'm not going to get stabbed before it turns up.
That's assuming Tyrers are running the stadium service as normal.

wessy wrote:We have till Sunday to complete two fixtures, if we fail in this then a whole new ton of crap will be heading our way even if we get decent owners, failure to complete the fixtures could have a huge impact on our future.

 Sure the players have a case but the bottom line is they will walk away in a few weeks time and will get paid via the PFA or as a secured creditors or a new owner. Leaving us the fans and whats left of the club to deal with the fallout.

We don't have a future.