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Plea from the supporters trust

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1Plea from the supporters trust Empty Plea from the supporters trust on Sun Mar 17 2019, 20:18

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
All BWFC supporters are aware of the current on-field problems affecting our club. The rights and wrongs and the ups and downs of current football matters are the subject of much ongoing debate. This debate will continue – but only if our club remains in existence.

However, the resolution of the ownership and governance issues, being currently played out in both the private and the public domains, will be the deciding factor as to whether we have a club to support.

The Football Ventures (Whites) consortium has recently been reported to have actually signed a Heads of Terms agreement and carried out a subsequent period of due diligence. Mr Anderson’s “note from the Chairman”, posted on the club website only 5 days ago, reported that the Chairman was hopeful “that the takeover will be completed later this week”.

On Friday, 3 days after Mr Anderson’s positive notes, supporters are then hit with the news in the local press that the Football Ventures (Whites) consortium were “believed to have pulled out of the deal”.

A Plea From The Heart

The current breakdown in negotiations between Mr Anderson and the Football Ventures (Whites) consortium leaves the club governance matters in a precarious state. With the court appearance scheduled for Wednesday, the future of BWFC is, once again, in serious doubt.

In view of this, we are making a plea from the heart for all parties to work together to achieve a resolution. As well as Mr Anderson and Mr Basran (Football Ventures consortium), we implore the other stakeholders and club creditors to show a willingness to achieve a future for BWFC.

Undoubtedly, some compromise will be needed. And all parties have a significant part to play in achieving a solution.

Please, on behalf of the club, the club employees, the supporters and the Bolton community, can all interested parties put their differences to one side, agree to compromise and to work together to avoid driving OUR club out of existence.

2Plea from the supporters trust Empty Re: Plea from the supporters trust on Sun Mar 17 2019, 20:45

Sluffy

Sluffy
Admin
The bottom line as far as I understand things based on what is on the internet is that in simple terms Basran simply hasn't got enough money to do the deal.

As a minimum he would have to stump up £8 million to buy the debt of the clubs share ownership from Eddie's estate, he would then need to convince the EFL that he has sufficient funds to pay off all the secured creditors and at least 25% of the value of all unsecured creditors, which amounts to a further £12 million.

Even with James with his £5.5 million secured on the club, he is still millions short of being able to carry out the deal unless he can negotiate down the amounts owed to the other creditors.

Even if he does manage to pull this off, he still needs to find the money for running costs including wages, at least through the summer before any income starts trickling into the club again.

I've never been unable to understand how Basran expects to make a return on his investment into the club - let's say for argument sake about £12m plus, just to get to the start of next season.  Clearly there must be, otherwise go to all the bother?

3Plea from the supporters trust Empty Re: Plea from the supporters trust on Sun Mar 17 2019, 20:49

Boggersbelief

Boggersbelief
Nat Lofthouse
Nat Lofthouse
Basran and co have enough financial muscle to buy this club for 5 times the asking price of £27M.

Ken knows this and is trying to squeeze more from them, they’re playing him at his own game, stepping away which forces Anderson into a corner. He will crack first, he has to

4Plea from the supporters trust Empty Re: Plea from the supporters trust on Sun Mar 17 2019, 21:12

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:Basran and co have enough financial muscle to buy this club for 5 times the asking price of £27M.

Ken knows this and is trying to squeeze more from them, they’re playing him at his own game, stepping away which forces Anderson into a corner. He will crack first, he has to

If only that was true.

Basran is a 'fixer', in that he set's up businesses for other people to invest in.

Nobody can see a return on their investment in buying Bolton - so that's why he hasn't attracted enough money to buy the club - hence why he's having to mess around Anderson and other creditors to get the price down.

If someone is to buy the club they will simply buy the debt that Anderson owes Moonshift for the ownership shares and give him a 14 day notice to call the debt in - and take ownership of the club that way - part of which involves proving to the EFL for their Fit and Proper Person check that they have access to something like £20 million (less the deal to buy the debt from Moonshift) to deal with outstanding creditors.

Basran presumably as shown he has backing of funds to invest - but - that they are all (or at least up to the £20 million mark) intended to be invested in Bolton - and apparently they are not.

That's my understanding of things anyway.

5Plea from the supporters trust Empty Re: Plea from the supporters trust on Sun Mar 17 2019, 22:18

observer


Andy Walker
Andy Walker
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Basran and co have enough financial muscle to buy this club for 5 times the asking price of £27M.

Ken knows this and is trying to squeeze more from them, they’re playing him at his own game, stepping away which forces Anderson into a corner. He will crack first, he has to

If only that was true.

Basran is a 'fixer', in that he set's up businesses for other people to invest in.

Nobody can see a return on their investment in buying Bolton - so that's why he hasn't attracted enough money to buy the club - hence why he's having to mess around Anderson and other creditors to get the price down.

If someone is to buy the club they will simply buy the debt that Anderson owes Moonshift for the ownership shares and give him a 14 day notice to call the debt in - and take ownership of the club that way - part of which involves proving to the EFL for their Fit and Proper Person check that they have access to something like £20 million (less the deal to buy the debt from Moonshift) to deal with outstanding creditors.

Basran presumably as shown he has backing of funds to invest - but - that they are all (or at least up to the £20 million mark) intended to be invested in Bolton - and apparently they are not.

That's my understanding of things anyway.
We've been here before and the last fixer was DeanO.  That didn't go so well.  Hopefully we have a club Wednesday night, and hopefully we have someone new owning the club who wants to see us rise from the ashes like the Phoenix.

6Plea from the supporters trust Empty Re: Plea from the supporters trust on Mon Mar 18 2019, 07:52

wanderlust


Nat Lofthouse
Nat Lofthouse
[You must be registered and logged in to see this link.] wrote:Basran and co have enough financial muscle to buy this club for 5 times the asking price of £27M.

Ken knows this and is trying to squeeze more from them, they’re playing him at his own game, stepping away which forces Anderson into a corner. He will crack first, he has to
Not sure where you are getting that from Boggers but I've been trying to find out if they have any real money since they were first announced as contenders and if they have any. it ain't obvious. I mentioned weeks ago that the businesses they are involved in have more debt than assets and their personal wealth isn't big enough to get on the radar so the only visible link to serious dosh was to Mark Warburton who at one stage was thought to have made close to a billion as a trader. However it was notable that that Warburton wasn't made a director of the bidding company so if there ever was an intention of him putting money into the club it doesn't look like that is still the case.
Not sure why the ST are pleading with Basran and Anderson to sort something out unless they know something we don't because as much as I want to see the back of Anderson, at this point I can't see Basran bringing much to the table other than the possibility of professionalism and there's not even a guarantee of that. I'm hoping there's someone else in the background who can buy the debt and work with Moonshift to get a better deal over the line - or that Basran brings in some real money partner before Wednesday.

7Plea from the supporters trust Empty Re: Plea from the supporters trust on Fri Mar 22 2019, 17:54

luckyPeterpiper

luckyPeterpiper
Frank Worthington
Frank Worthington
Hi all. As I understand it the hearing on Wednesday was adjourned for 14 days because a deal is just about done so the court gave the club extra time to allow it to be completed. At least that seems to be what both the Beeb and Sky have reported. Have I missed something?

8Plea from the supporters trust Empty Re: Plea from the supporters trust on Fri Mar 22 2019, 23:02

Sluffy

Sluffy
Admin
[You must be registered and logged in to see this link.] wrote:Hi all. As I understand it the hearing on Wednesday was adjourned for 14 days because a deal is just about done so the court gave the club extra time to allow it to be completed. At least that seems to be what both the Beeb and Sky have reported. Have I missed something?

No that's about it Peter.

The big boned lady hasn't sung yet and no doubt there will be more twist and turns to come but it does seem to be heading for a definite conclusion before the next court appearance.

Fingers crossed anyway!

Very Happy

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