Bolton facing administration..
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Bolton facing administration..
https://www.theboltonnews.co.uk/news/16 ... hin-hours/" onclick="window.open(this.href);return false;
Skip past the survey it might ask you for.
Bolton have defaulted on a loan and are facing legal action, potentially administration which comes with the fabled 12 point deduction.
Also according to that article they're still haemorrhaging money to the tune of £6 million a year.
Skip past the survey it might ask you for.
Bolton have defaulted on a loan and are facing legal action, potentially administration which comes with the fabled 12 point deduction.
Also according to that article they're still haemorrhaging money to the tune of £6 million a year.
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Re: Bolton facing administration..
They should change name to avoid detection.
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Re: Bolton facing administration..
One of their legends, Horseface might have a few spare bob to help them, given all these payoffs he keeps getting.
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Re: Bolton facing administration..
They'll get no sympathy on this board,unfortunately it's the staff who will lose their jobs i feel for,i'm sure the players will be fine,this could lead to a fire sale in January might be some bargains available.
Just as in the Birmingham case,we'll see if the Football League have the balls to follow these possible punishments to the letter of the laws.
It's a good job for them they put points on the board early,Phil Parkinson has worked wonders with their squad,can see him being poached by another Championship club soon.
Just as in the Birmingham case,we'll see if the Football League have the balls to follow these possible punishments to the letter of the laws.
It's a good job for them they put points on the board early,Phil Parkinson has worked wonders with their squad,can see him being poached by another Championship club soon.
Re: Bolton facing administration..
Bstards should get on their knees and grovel to their Indian masters as they are the only thing stopping them going under.
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Re: Bolton facing administration..
Incredibly we now know the extent of the debt written off by Eddie Davies stands at a whopping £198million.
Without his generosity Bolton would have been liquidated many months ago.
Even now they are staring down the barrel of a gun and are simply delaying the inevitable outcome of receivership.
Without his generosity Bolton would have been liquidated many months ago.
Even now they are staring down the barrel of a gun and are simply delaying the inevitable outcome of receivership.
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Re: Bolton facing administration..
Just to add, the word within financial circles is that Anderson's offer is to repay the £4.3million loan to BluMarble WITHOUT any of the accumulated interest added.
As if that arrangement was ever going to be acceptable.
As if that arrangement was ever going to be acceptable.
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Re: Bolton facing administration..
Surprisingly Maidstone United are the last Football League club to fold in 1992,there has been some surviving by the skin of their teeth though,hopefully this new clamp down on extravagant spending,and casually writing off debts will make some owners less carefree in their approach.
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Re: Bolton facing administration..
My dad’s from Bolton and a good mate of mine supports them. My only issue is with Coyle, not BWFC. I sincerely hope they get their finances in check and are able to resume running as a business. They’re a huge piece of important British footballing history and are a decent club.
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Re: Bolton facing administration..
This has been an interesting story for a while.
Dean Holdsworth and his company (SportsShield BWFC) took the loan out with this company BluMarble, loaned it to Bolton and told them it was secured on Bolton's assets. However, Dean Holdsworth has never been a director at Bolton so it's unclear on what authority the loan was being secured on Bolton's assets.
Previous thoughts were that if Holdwsorth misrepresented the authority he had then he could end up being personally liable rather than the club (although I'd assume that the IPs will seek to recover the £5m from Bolton depending on the terms) but it looks like that's been cleared up to an extent. You can see why it's slightly more complex than just paying off the debt.
Dean Holdsworth and his company (SportsShield BWFC) took the loan out with this company BluMarble, loaned it to Bolton and told them it was secured on Bolton's assets. However, Dean Holdsworth has never been a director at Bolton so it's unclear on what authority the loan was being secured on Bolton's assets.
Previous thoughts were that if Holdwsorth misrepresented the authority he had then he could end up being personally liable rather than the club (although I'd assume that the IPs will seek to recover the £5m from Bolton depending on the terms) but it looks like that's been cleared up to an extent. You can see why it's slightly more complex than just paying off the debt.
Re: Bolton facing administration..
tiger76 wrote:Surprisingly Maidstone United are the last Football League club to fold in 1992,there has been some surviving by the skin of their teeth though,hopefully this new clamp down on extravagant spending,and casually writing off debts will make some owners less carefree in their approach.
The authorities need to do more due diligence and make fit and proper owners are put in charge of clubs.
Orient
Coventry
Blackpool
Chalton
The Bolton takeover a few years back always had a bad stench around it. Complex is the word. Already this season a players strike, another creditor refusing to supply them and the hotel taking cash only payments and ex player Henry wanting what was owed to him.
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Re: Bolton facing administration..
I did five years at Bolton College, '74-'79 and through college friends developed an affinity to them so they became my 'second team', that was until they poached our manager, now they can't sink low enough or fast enough for me.
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Re: Bolton facing administration..
Before we get too carried away, Bolton are only 9 places below us in the league structure.
Things can change very quickly.
Things can change very quickly.
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Re: Bolton facing administration..
Course they can, but if you massively overspend to try to maintain your position in the top division this can happen.
Re: Bolton facing administration..
I don't know how any one could hope that a famous club which was one of the 12 founder members of the league will go bust. They are a North West team with fans just like us who have followed their team through thick and thin , home and away for many years.
I have no affinity to Bolton Wanderers but I for one hope they find a way out of this mess and get back to the Premier League where we can meet them in a game that has the feel of a local derby. Forget judas, he has nothing to do with them now.
I have no affinity to Bolton Wanderers but I for one hope they find a way out of this mess and get back to the Premier League where we can meet them in a game that has the feel of a local derby. Forget judas, he has nothing to do with them now.
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Re: Bolton facing administration..
My grandad's team and a proper old Lancashire club like us. The Coyle thing came and went - along with most involved - I hope they get this sorted.
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Re: Bolton facing administration..
Blue Marble more than likely only lent the money knowing that the company was not capable of paying the loan and honouring the contract, the assets are more than likely worth treble if not more than the loan
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Re: Bolton facing administration..
The club was running such that they couldn't afford to lose their place in the Premier League. When they did the debts started rising and when Davies decided enough was enough they were in serious trouble. As royboy posted, without him wiping out the debt they would have been long gone.
I've no sympathy for clubs who run themselves like that, as Bolton did for many years. They are another Portsmouth.
I've no sympathy for clubs who run themselves like that, as Bolton did for many years. They are another Portsmouth.
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Re: Bolton facing administration..
Don’t want to see any club go bust. You have to feel for the fans, they don’t decide how their club is run. Hope the club gets itself sorted.
Re: Bolton facing administration..
Live blog from Marc Iles on procedings
https://www.theboltonnews.co.uk/sport/1 ... istration/" onclick="window.open(this.href);return false;
https://www.theboltonnews.co.uk/sport/1 ... istration/" onclick="window.open(this.href);return false;
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Re: Bolton facing administration..
I still remember with visceral displeasure the glib arrogance of their fans back in the winter of ‘09/‘10.
F *ck ‘em! I hope they go under.
F *ck ‘em! I hope they go under.
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Re: Bolton facing administration..
Tenterhooks stuff for the Bolton fans this.
Re: Bolton facing administration..
That's football fans for you. We would have behaved in the same way. That's what happens. It's just like the keyboard warriors, or the likes of Rashford squaring up to Bardsley on a football pitch. You do it because you know there will be no actual face to face consequences. I mean to sya, visceral displeasure? Something that affects your very bowels and vital organ? Get over it.Lord Beamish wrote:I still remember with visceral displeasure the glib arrogance of their fans back in the winter of ‘09/‘10.
F *ck ‘em! I hope they go under.
Last edited by Chobulous on Tue Sep 11, 2018 10:19 am, edited 1 time in total.
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Re: Bolton facing administration..
No thank you. I’ll carry on quite happily, warm in the knowledge that they might well go bust.Chobulous wrote:That's football fans for you. We would have behaved in the same way. That's what happens. It's just like the keyboard warriors, or the likes of Rashford squaring up to Bardsley on a football pitch. You do it because you know there will be no actual face to face consequences. Get over it.
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Re: Bolton facing administration..
I don't think administration means they disappear from the face of the earth though.
To do that, we'd have to take off and nuke the whole site from orbit , its the only way to be sure.
To do that, we'd have to take off and nuke the whole site from orbit , its the only way to be sure.
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Re: Bolton facing administration..
Get ready for a shock to the organs then, last second offer made apparently.
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Re: Bolton facing administration..
The holiday in Tuscany that I am currently on will not be ruined for me if they somehow manage to scrape a deal.
They’ll still be miles and miles behind us for a decade at least.
They’ll still be miles and miles behind us for a decade at least.
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Re: Bolton facing administration..
Must be a cracking holiday coming on here to post about Bolton fans. Live it up and enjoy
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Re: Bolton facing administration..
Wonderful, Mr Advocaat. Sat in the sunshine, watching the kids swim in the pool in the morning whilst tip tapping on my iPad. I might have a glass off red with my lunch. Then we’re off to Siena this afternoon.Devils_Advocate wrote:Must be a cracking holiday coming on here to post about Bolton fans. Live it up and enjoy
Bliss.
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Re: Bolton facing administration..
Deadline extended until noon. Last minute offer provisionally accepted apparently.
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Re: Bolton facing administration..
"Then we’re off to Siena this afternoon.
Bliss."
Give her my love. Oh.
Bliss."
Give her my love. Oh.
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Re: Bolton facing administration..
I always remember Coyle saying that they were ten years ahead of us. I can't help thinking that if he was right........... we have these problems to look forward to in ten years time. A sobering thought for those that advocated wild spending in the recent transfer window.
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Re: Bolton facing administration..
Bolton (Evening) News now saying BWFC won't be put into admin by BluMarble if the last-min rescue deal goes through by noon.
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Re: Bolton facing administration..
'a sobering thought for those that advocated wild spending in the recent transfer window'
What wild spending was that?
What wild spending was that?
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Re: Bolton facing administration..
But as fans, we had the same feelings with Preston took Nogan, Parky and Eyres and then a few years later when Paul Jewell wanted to take Robbie Blake to Wigan and when Cotterill left Stoke for us and brought Ade, GNW, James O'Connor. Stoke fans despised Burnley at that time.Lord Beamish wrote:I still remember with visceral displeasure the glib arrogance of their fans back in the winter of ‘09/‘10.
F *ck ‘em! I hope they go under.
I wouldn't wish anyone to lose their local team. Football in the UK especially brings a lot to communities, even when they fall on hard times.
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Re: Bolton facing administration..
Can you name a single poster that asked for that? Or maybe you think spending a significant proportion of your annual income (with 3 years' of parachutes available) is wild spending.CaptJohn wrote:I always remember Coyle saying that they were ten years ahead of us. I can't help thinking that if he was right........... we have these problems to look forward to in ten years time. A sobering thought for those that advocated wild spending in the recent transfer window.
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Re: Bolton facing administration..
We've gone past noon, does anyone know how it's worked out?
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Re: Bolton facing administration..
So if they survive this one, there's another due next week. There is the outstanding matters of Heathcote & Co's winding up petition, due on September 17, and the PFA's involvement in the player pay dispute. By no means easy street for the Bolton chairman.
..
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Re: Bolton facing administration..
Whilst " Crosspool " is correct, I don't think we're about to sell out training ground just to pay 6 weeks wages just yet ....CrosspoolClarets wrote:Before we get too carried away, Bolton are only 9 places below us in the league structure.
Things can change very quickly.
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Re: Bolton facing administration..
The funds had to be transferred by 12 noon. No confirmation yet that this has been done!
Re: Bolton facing administration..
They have allowed them another hour for the buskers in Horwich town centre to raise another tenner.clansman wrote:The funds had to be transferred by 12 noon. No confirmation yet that this has been done!
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Re: Bolton facing administration..
Interesting..Oddly, the filing of the Notice Of Intention to Appoint IS an insolvency event as defined by the EFL. We know this happened and the points deduction should have triggered immediately but it didn't #bwfc
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Re: Bolton facing administration..
Wish they would hurry up and go bust....ten years ahead
Re: Bolton facing administration..
Leicester went from administration to winning the PL so it's not as bad as it sounds.
Re: Bolton facing administration..
Still no confirmation.As stated above the rules clearly state that the filing of a Notice to Appoint an Administrator is an insolvency event. Perhaps its the best thing for Bolton .The Administrator takes over the running of the club and searches for a new buyer.They take a 12 point hit and may well go down but in the long run it may well be for the best!
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Re: Bolton facing administration..
They didn't learn from going down to league 1 last time though.
They're losing money still, £6 million a year.
Players have been on strike over wages etc.
They're losing money still, £6 million a year.
Players have been on strike over wages etc.
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Re: Bolton facing administration..
. Settlement figure has been agreed between BluMarble and Ken Anderson.
It is understood a third party has also injected funds to help the deal happen.
A deadline for noon was set (and since passed) but funds have not yet reached the relevant accounts, so the deal is not yet done.
Administration is NOT expected by either side, as things stand, and the delay should not affect this.
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Re: Bolton facing administration..
Should be renamed Bolton Wongarers.
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Re: Bolton facing administration..
At present they've reached a deal and waiting for League clarification and confirmation money has been paid.
As mentioned earlier they've another one next week, so tune back in for the next installment of Bolton and how not to run a club..
As mentioned earlier they've another one next week, so tune back in for the next installment of Bolton and how not to run a club..