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Latest statement from the adminstrators

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1Latest statement from the adminstrators Empty Latest statement from the adminstrators on Mon Aug 26, 2019 10:42 am

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse
Just released and it sounds and feels like the end of our club, Kenocchio is solely to blame for this latest breakdown in the deal (take note SluffY).

We are in very real danger of the club folding and i feel sick, how can this be allowed to happen?

At 5pm on Friday August 23, the completion of the sale of the football club and the hotel had been agreed by all parties and undertakings had been issued by all solicitors except those of Ken Anderson.
Devastatingly, on Saturday morning that deal collapsed. At this stage, there seems little point in apportioning blame because that makes no difference to the staff, players, management, supporters and the community who have once more seen their club taken back to the brink.

My team have spent the last 48 hours working around the clock, striving to get a deal back on track and trying to convince the parties still in conflict that the very fate of Bolton Wanderers depends on them finding a compromise.

The EFL have made their position clear by insisting on a 5pm deadline on Tuesday for a deal to be completed or give compelling reasons for an extension. They have also written to everybody concerned in the process to underline that sense of urgency.

On Sunday evening, there was some tentative dialogue but we are still some way from reaching a solution. Therefore, I am appealing to those parties whose position seems intractable to do everything to reach a compromise.

In just over 24 hours, the club will have its membership of the EFL revoked. Over and above that, the club is currently not in a position to carry on trading and, as such, the process of closing down the company will commence on Wednesday.

This will ultimately lead to its liquidation, the expulsion of the club from the EFL and the inevitable loss of over 150 jobs. More than that, it will devastate a community for whom the football club is a beacon of hope and expectation.

I reiterate, unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week.

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2Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 10:55 am

To Be Frank

To Be Frank
Mario Jardel
Mario Jardel
Why is KA intent on delaying? Does he gain something financially as well as consciously squeezing us out of existence? Just sign the papers and go home!

Is he twisted enough to expand his ego by being the first club owner to extinguish a professional club. Is it also the case, maybe, that there is no benefit to him selling (due to massive debts to creditors etc) so lets strangle the life out of us?

Someone explain his motives to me, I don't see what he has to gain by not signing the papers.

3Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 11:01 am

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse
Very worried now. Don't know how anyone else felt, but going round the club shop on Saturday, not to mention the concourse, felt like a closing down sale at a large, failing business. Everything must go.

4Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 11:26 am

To Be Frank

To Be Frank
Mario Jardel
Mario Jardel
Ken Anderson messaged Jim White to say it was Eddie Davies Trust holding everything up. (Talk Sport) Anderson (by text message) claims he has not been involved with any negotiations and not involved with various delays and it's EDT solicitor (Gordon?) who is not doing his bit.

FFS. This squabbling is costly.



Last edited by To Be Frank on Mon Aug 26, 2019 11:32 am; edited 1 time in total

5Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 11:29 am

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
Yeah probably eddies trust refused to be bow down to his demands I expect.

6Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 11:53 am

Hipster_Nebula

Hipster_Nebula
Nat Lofthouse
Nat Lofthouse
Rubbish. Nothing will come of it.

EFL will grant extensions until the end of time.

7Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 12:43 pm

Sluffy

Sluffy
Admin
Further to my previous statement and to clarify absolutely the position, Football Ventures (Whites) Limited (FVWL) are the only bidder to have satisfied the full criteria of the sale process and that remains the position.

Despite persistent but false rumours in the media and on social media, FVWL are the only party to have met these criteria including, but not limited to, providing proof and source of funding and having satisfied the EFL's Owners and Directors Test throughout the Administration, dating back to May 13.
I hope this clarifies the current position.

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8Latest statement from the adminstrators Empty Re: Latest statement from the adminstrators on Mon Aug 26, 2019 1:54 pm

terenceanne

terenceanne
El Hadji Diouf
El Hadji Diouf
So we look at the bottom of the contract and we see a missing signature....but we can't determine who should be signing next to their own name. And it will take all day to get said signature...can't be done first thing in the morning......maybe the required party is on his holidays in Benidorm or his Granny's funeral.  I'll accept either one of those reasons....but not BS.

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