Not going well at all.....

http://www.bwfc.co.uk/news/article/2016 ... 65846.aspx

Thats not good.

Seems like Dean is a bit of a ladies pee out of..

Heck! Be interesting to see Dean's response to the allegations, comments etc contained in that!

Anybody else wanting to criticise the Burnley Board at the moment...thought not !

Leisure wrote:Heck! Be interesting to see Dean's response to the allegations, comments etc contained in that!

http://www.sportsshield.co.uk/bwfc/resp ... formation/" onclick="window.open(this.href);return false;

Bit off topic, but that reminds me.......March the 17th is the date Rovers/ Venkys line of credit
either runs out, or needs to be renewed with the Bank of India. Now, they (the Venkys) have always
done so, but it could just be a bell weather of how their owners plan to proceed if there's any
messing around.

Just let em go, Venks.

Crikey. Jobs a bad un there, no doubt.

Enola Gay wrote:http://www.sportsshield.co.uk/bwfc/resp ... formation/

Tasty. This will meander merrily along through the courts for ages.


Edit: Although....the response seems to have been posted a day earlier?

Don't worry, Bolton will be fine, Eddie will look after them...

I didn't even know Clough had been sold.

Is abc aware of this, they put forward the idea of signing Clough recently didn't they?

Looking at the linked accounts Eddie wrote off £170 MILLION when he sold the club to Holdsworth and Anderson.

Sidney1st wrote:I didn't even know Clough had been sold.

To Forest for £3mil.

duncandisorderly wrote:Tasty. This will meander merrily along through the courts for ages.


Edit: Although....the response seems to have been posted a day earlier?

Whoops, so it does. Both pieces seem to be salvos in an ongoing spat, though.

Doesn't really matter which one is replying to which, it looks like everything is pretty much fubar over in Horwich.

Best pay attention people, this is a glimpse of 10 years into the future

Are they joint owners or is Holdsworth the owner and Anderson the chairman?

Ouch http://www.bwfc.co.uk/documents/burnden ... 565779.pdf" onclick="window.open(this.href);return false; the accounts don't look good.

The phrase As a a consequence of the above, the Group does not currently have access to adequate facilities to meet its day to day working capital requirements or to re-finance the facilities listed above as they fall due for repayment.

is not a a good sign, particularly as £5.5m due to Prescot Business Parks was due for repayment on 29 January 2017 and the £4m plus hefty interest to Holdsworth's company may get called in by the financiers.

What, so £170,000,000 was waived and they are still ******?

duncandisorderly wrote:What, so £170,000,000 was waived and they are still ******?

Yeah, the debt was written off effectively, but that's no good when the cause of the debt, their wage bill, was still an issue and building more debt.

Some Rovers fans also struggle to understand when they're demanding Venkys write off the debt.

Bolton were paying Jay Spearing £17k a week in the championship.
I'd be very curious to know what they're paying him now.
Looking at them now, they shouldn't be paying anyone more then £10k at the extreme upper end.
In reality their upper wage limit should be £5k a week per player or less.

Those accounts are also for the championship season just gone, no? So next years will be worse...?

10 years ahead . . .

10 years from now? 20+ behind at least.

It looks like the latest P&L account benefited from £9.485 million of interest being waived by Fildraw Private Trust Ltd. Otherwise the latest year loss of £6.7 million would've been £16+ million.
Makes it look like the loss has only edged up from last year from £6.4 to £6.7 million but it's a much bigger underlying deterioration than that because the turnover dropped by £7.7+ million & costs went up.
Not a good time to start internal bickering.

conyoviejo wrote:Seems like Dean is a bit of a ladies pee out of..

A urethra?

These accounts are for 2014-15, the season before last, filed a year later than they should be. So their wage bill that season was £29m, just about the same figure as ours - but we were in the Premier League, not finishing near the bottom of the Championship. 2015-16, not yet published, would be (if I have the rules correct) their last with parachute money. The accounts have been published on a going concern basis because the directors reckon they can find the £11m needed to keep the club going, but the auditors say that they can't sign off that particular part of the accounts because they can't see how that's going to happen. The court cases will no doubt cost a fortune, the current year has not only no Premier parachute money but also no Championship money, and I think the 10-year advantage has (shall we say) narrowed?

If that's what Coyle can do to Bolton, long may he remain at Blackburn!

Deep deep doo dah


It must be hard for someone like Davis who obviously cares for the club but has been taken to the cleaners by somebody.

Ooooooooooohhhhhhhhh wanky wanky
wanky wanky wanky wanky wanderers


They should have stayed at the shopping center

The Accountants have "qualified" their comments to the hilt........i.e. Potentially not worth the paper they're written on.........I guess the warning is not to rely on a major benefactor to play with the Club as a toy..........it'll be just the same at The Horseface Arena, a dirty great abyss to look into.

We"ll be reet at The Turf.

I have my smug face on today, and not just because I'm going on holiday.....

Colburn_Claret wrote:Deep deep doo dah


It must be hard for someone like Davis who obviously cares for the club but has been taken to the cleaners by somebody.

Eddie Davies wasn't taken to the cleaners by anyone but himself.
He kept funding the club allowing it to rack up debts of £180million.
He only sold up when the parachute payments ended, but its been heavily rumoured/mentioned that there was a clause in the sale whereby he gets a cut of future sky money if the club makes it back into the PL.

As a result of heavily relying on a benefactor the club is a financial mess.
Jay Spearing wasn't worth £17 k a week in the championship, plus as part of his contract he was also owed £400k if he stayed for the full duration of it.
Further proof, if needed, that Bolton were/are to willing to roll over for players demands.

The sooner clubs start getting thrown out the league, the better in my eyes. And before anyone pipes up, a new club would just begin way down the pyramid so the fans can still support them there.

Well I don't disagree with that sentiment Winstonswhite but they'd have to be liquidated first. Tighter financial rules within the framework of the League and FA would be helpful but as we've seen with the implementation of FFP it's very tricky to achieve and open to endless legal challenges etc etc.

It would probably help if the FA didn't insist on monies being owed to other club being more important than any other debts including the taxman.

Indeed. I don't know how they get away with that when it comes to legislation.

Suspect that its FIFA led, and the any govt interference in the FA can result in our suspension from FIFA.

There are Bolton fans who wait for their "Lancaster Whites" coach on one of the villages on our way to the M6, might wave a £5 note in their direction next time I see them....

It's probably about time the tax office took that one to the courts and over turned it.

I wonder how many clubs would disappear if they had to pay the taxman first?
It would possibly have a domino effect I suppose, because other clubs would be reliant on the transfer money to pay their own bills etc.

Still being able to recall the quite visceral hatred of all things BWFC from January 2010,the overbearing arrogance of the Bolton fans and the way what seemed like our one chance at the 'big time' turned to dust, I have to say that I am enjoying a heaping helping of schadenfreude about their position right now.

Sidney1st wrote:It would probably help if the FA didn't insist on monies being owed to other club being more important than any other debts including the taxman.

Probably tipped that No Confidence vote.

Surely the penny will have dropped with Blackburn fans that this is what will happen to them if the Venkys pull out?

So, a football clubs board want:
The club in the highest division possible with the greatest income stream.
Their loans to be repaid, in some cases regardless of whether there is money in the kitty.
The players want:
More money
The fans want:
More money spending than exists now or in the future

Bolton gambled on paying big salaries in the hope that the higher division income stream could be regained after an unfortunate and unforeseen set of events, they obviously believed the hype about being so far in advance of local rivals that immortality was inevitable.

Burnley spent not very much relatively and gained 2 promotions in 3 years. The money earned was used to repay loans and build infrastructure. Result, no debts at that time. Burnley are slowly building from the ground up and by current accounts spending within their means. It doesn't mean our future is rosy but at least it is on firmer ground.

There are still fans on here that think we can and should spend like Bolton. Every transfer window brings calls to spend, spend, spend, believing the "truth" that paying above a certain amount will absolutely guarantee our being in the top flight forever.

If Bolton is not warning enough, as people treat their plight as a joke because of Coyles' involvement. Then look at Portsmouth, that is what happens when an average team spends money like no tomorrow.

This is not going to end well.

I hope it ends with a padlock on the gates of the ground st Horwich.

Winstonswhite wrote:Surely the penny will have dropped with Blackburn fans that this is what will happen to them if the Venkys pull out?

Don't be silly, they've got less of a clue then Bolton fans.

They seriously believe that if the Venky's wiped the debt, and sold the club to those 2 local blokes who tried to buy half the club recently, then everything will be ok.

Rovers fans don't seem to understand that something is causing the debt at Rovers, it isn't the owners, it's the stupid wage bill that can't be supported by low crowds and cheap season tickets (they've accused Burnley of ripping of the fans with our season ticket prices in the past).

Their academy costs a minimum £2 million in funding to keep as a lower Cat A academy and that's before any additional running costs.

Colburn_Claret wrote:Deep deep doo dah


It must be hard for someone like Davis who obviously cares for the club but has been taken to the cleaners by somebody.

Hard for Eddie Davies? He was the one who sat there and let this happen.

"Hard for Eddie Davies? He was the one who sat there and let this happen." I couldn't agree more. Whats the saying. "You reap what you sow".

I remember Gartside trying to push through an attempt to stop relegations from and promotions to the PL.

Then he banged on about a PL 2 when it started to become clear that Bolton were heading for the championship.

He is equally to blame for the state of Bolton as Davies is.

I know it's not the done thing to speak ill of the dead, but Phil Gartside was an odious little turd, wasn't he?

Wasn't he nicknamed Fartslime or Gartslime on CM?

It'd be a shame if it was happening to Bolton Wanderers, a fine old club with great history and tradition.

But that soulless franchise near a motorway in Horwich I couldn't care less about. Fold it, nobody cares anymore.

Lord Beamish wrote:I hope it ends with a padlock on the gates of the ground st Horwich.

The Reebok will make a lovely mosque.

FC Bolton need to find a patch of grass somewhere in the vicinity of Bolton itself

Oh dear

There Derby could be FC B@stards

UTC

Whoever is right and whoever is wrong, its unprofessional at best for the chairman to come out with that post and paints him in as bad a light as holdsworth.

Either way couldnt care less. **** Bolton! They deserve everything they get!