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Author Topic: Bolton & Bury continuing fiasco.  (Read 8682 times)
THE FLASH


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« Reply #75 on: Wednesday, August 28, 2019, 19:43:49 »

Bolton saved....takeover done...

Bolton saved....for now...
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pauld


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« Reply #76 on: Wednesday, August 28, 2019, 20:19:09 »

Sounds like a lot of the finance is buy now pay later, could be a while before that ship rights itself, plus they'll have the further penalty at some point for missing a game last season.
And one this season. TBH going down is the least of their worries, that's pretty much a given. They've only got 4-5 days left to sign pretty much a full squad. They may well have some lined up already, but let's face it, it's going to be barrel-scraping at best
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singingiiiffy


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« Reply #77 on: Wednesday, August 28, 2019, 21:55:02 »

so what actually happens with Bury now? If im correct in thinking all that's happened is they have been kicked out the football league and can't enter a new league until next season. The club it self still exists?

If a takeover went through next week would they keep any staff until 8 months time? or get rid of everyone and recruit again ready for next season. It is a strange scenario as its very different to a club being liquidated (unless of course that is the next step)
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horlock07


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« Reply #78 on: Thursday, August 29, 2019, 08:03:25 »

Dan Roan just mentioned Reading as another club having problems paying wages. Had anyone heard of financial problems there?

That's them doomed then if Roan has started showing an interest!
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pauld


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« Reply #79 on: Thursday, August 29, 2019, 08:50:06 »

so what actually happens with Bury now? If im correct in thinking all that's happened is they have been kicked out the football league and can't enter a new league until next season. The club it self still exists?
By a thread, yes. The most immediate thing is to find a buyer. But it would need to be a buyer who's prepared to sink in the money required to clear the debt, and keep the business at least ticking over (stadium rent, maintenance, minimum staff etc) until next season with no income at all this season and no guarantee of what level they'd be able to re-enter at (and hence what income they'd get) next season. Not going to be many takers for that proposition, I'd have thought
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horlock07


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« Reply #80 on: Thursday, August 29, 2019, 10:20:13 »

By a thread, yes. The most immediate thing is to find a buyer. But it would need to be a buyer who's prepared to sink in the money required to clear the debt, and keep the business at least ticking over (stadium rent, maintenance, minimum staff etc) until next season with no income at all this season and no guarantee of what level they'd be able to re-enter at (and hence what income they'd get) next season. Not going to be many takers for that proposition, I'd have thought

I think the best thing for Bury is for the fans, Council and community to get together and start afresh, any purchase of the company/club will just lead to some money ending up in Dales pockets via the CVA. I suppose the only issue is who actually owns Gigg Lane and whether that can be retrieved somehow?
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pauld


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« Reply #81 on: Thursday, August 29, 2019, 10:34:40 »

I think the best thing for Bury is for the fans, Council and community to get together and start afresh, any purchase of the company/club will just lead to some money ending up in Dales pockets via the CVA. I suppose the only issue is who actually owns Gigg Lane and whether that can be retrieved somehow?
I'd guess that's what underpins Dale's strategy - he thinks he can come out of all this with a valuable piece of real estate, unencumbered by inconveniences like football clubs traipsing all over it. Otherwise it just doesn't make any sense at all
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horlock07


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« Reply #82 on: Thursday, August 29, 2019, 10:40:18 »

I'd guess that's what underpins Dale's strategy - he thinks he can come out of all this with a valuable piece of real estate, unencumbered by inconveniences like football clubs traipsing all over it. Otherwise it just doesn't make any sense at all

Isn't it mortgaged up to the eyeballs though, better explained here https://www.theguardian.com/football/2019/aug/27/bury-historic-club-football-league-financial-ruins

So it appears some offshore companies now have a 3+m charge over the ground?

More here https://www.theguardian.com/football/2019/jun/18/bury-inside-story-financial-ruin-winding-up-petition-loans-car-park

and here https://www.theguardian.com/football/2019/may/29/bury-financial-crisis-loan-former-owner-stewart-day-winding-up-petition-debt
« Last Edit: Thursday, August 29, 2019, 10:43:51 by horlock07 » Logged
Bogus Dave
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« Reply #83 on: Friday, August 30, 2019, 11:42:23 »

Accrington Stanley chairman giving an open and honest play through of this last chance bidder

https://twitter.com/andyhholt/status/1167343570304589824?s=21
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pauld


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« Reply #84 on: Friday, August 30, 2019, 11:51:12 »

Sorry, yes I wasn't very clear. My assumption was that either he was looking to be able to come out of it all as the owner of the land or that if someone ultimately wanted to use the land for development (or indeed football) that he'd be able to benefit from some of those charges as some have (I think) been transferred to his companies. But tbh it's such a tangled mess it's impossible to really tell, I was just trying to fathom some sort of motive for what would appear to be a pretty random and ridiculous way to conduct a business.
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pauld


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« Reply #85 on: Friday, August 30, 2019, 12:47:27 »

According to today's Times, the Pink Floyd drummer is an investor in the consortium that has bought Bolton (cue Another Brick in The Wall jokes, Dark Side of the Reebok etc etc). The two main drivers in the consortium are apparently wealthy and experienced local business people so hopefully this is actually a rescue, not just a temporary reprieve.
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Nemo
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« Reply #86 on: Friday, August 30, 2019, 13:40:25 »

According to today's Times, the Pink Floyd drummer is an investor in the consortium that has bought Bolton (cue Another Brick in The Wall jokes, Dark Side of the Reebok etc etc). The two main drivers in the consortium are apparently wealthy and experienced local business people so hopefully this is actually a rescue, not just a temporary reprieve.

Could bring back one of their old strikers so that Mason can See Emile Play?
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Saxondale


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« Reply #87 on: Friday, August 30, 2019, 13:42:56 »

Mason who lives in Corsham.  Why isnt he investing local!  Git.
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leftside


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« Reply #88 on: Friday, August 30, 2019, 14:08:57 »

Mason who lives in Corsham.  Why isnt he investing local!  Git.

Wish he was here?
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horlock07


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« Reply #89 on: Friday, August 30, 2019, 14:31:02 »

According to today's Times, the Pink Floyd drummer is an investor in the consortium that has bought Bolton (cue Another Brick in The Wall jokes, Dark Side of the Reebok etc etc). The two main drivers in the consortium are apparently wealthy and experienced local business people so hopefully this is actually a rescue, not just a temporary reprieve.

Don't you mean Dark Side of the University of Bolton Stadium?

Get with the times granddad!  Wink
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