Bolton....interesting... | Vital Football

Bolton....interesting...

That meeting was very much like closing the stable door after the horse has bolted.

They're basically begging and praying for someone to miraculously appear and buy them.
They are at home to Villa on Friday, but I bet theres more drama in the run up...'will the game be on?' Again. Anderson has to confirm tomorrow that safety staff are all paid and will be in place. If not, they will lose the safety certificate again. And Ken is pissing about in America

I am still not convinced they will finish their fixtures.
 
jeffs right said:
No comparison with them and other clubs situations.
They have simply been living beyond their needs for years.
Spend, spend spend what you haven't got for years and pop you go.
As a club they have done dispicable things but received no punishment along the way for it.
They stink from top to bottom.
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My mate is into Greyhound racing, he used to breed and train them and over the years has got to know quite a number of wealthy and famous people who bought his dogs or had them in training with him, an example of the level I am talking about is he has Paul Scholes private number on his phone and goes to events with him and other retired footballers regularly.

In the mid 2000's Bolton signed a player (no names), I remember him and he played against us a few times, he was decent but nothing special and certainly no household name, recently a group including my mate went on a jolly to his villa in Spain for a few days, the conversation got to the subject of Bolton's current plight and money and wages came up.

When Bolton bought this chap they paid 6 million for him, he received over £2 million signing bonus 50 % that was paid over the length of his contract, 5 years, the balance if he completed the full term. His wage was £48,000 per week, we are going back 11 years or so, he also had bonus for wins, draws, points gained, overall league finish and any cup match deals they made, he told them this was the money he lived on day to day his main wage was not used and invested.

He then told them he was only average pay, the likes of Ococha, Campo, Anelka earned twice that amount. No wonder they are in the shit.
 
Basically they’re fucked not coz of Anderson (though he isn’t helping) but because of previous people in charge who thought they could spend Eddie Davies money like it grew on trees and didn’t need to budget.
Regardless of whether he was ever going to ask for that back, it meant that when Davies said he was spending no more they had enormous spending commitments and no way at all of covering those shy of selling all their assets
I warned my Bolton supporting mates that the pigeons would come home to roost but they dismissed it just like I heard their owner do on radio when their debt hit £120mill coz “most of that’s owed to eddie Davies and he’s never going to ask for it back”!! ????

I’ve never seen a club so horribly mismanaged and ignore all the warning signs that have been going back years
 
One of the problems now and what is putting off any future investor/buyer is during one of their previous financial meltdowns the promise of future tickets sales income was used to bale them out, in essence that means an interested party has title to a proportion any future ticket sales before any money can be used for the running of the club.
 
Mighty Bongsmon said:
...because of previous people in charge who thought they could spend Eddie Davies money like it grew on trees and didn’t need to budget.
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For a while under Bruce we were headed down the same route. Whelan's decision to tighten the purse strings contributed to our relegation but saved us considerable pain now.

Even the new guy who is linked with Bolton is a shady dealer if you listen to the Watford fans. You can't see Bolton coming back any time soon from their next drop - potentially a new Swindon or Coventry spending years in the footballing backwaters.

Incidentally Coventry look like they are homeless again next season, all these riches at the top of the game are masking a rotten core.
 
FC Utd of Manchester could let the cheating gets hire their stadium to cut down on costs for Bolton but would they want to gamble on not getting paid.
 
Mighty Bongsmon said:
Basically they’re fucked not coz of Anderson (though he isn’t helping) but because of previous people in charge who thought they could spend Eddie Davies money like it grew on trees and didn’t need to budget.
Regardless of whether he was ever going to ask for that back, it meant that when Davies said he was spending no more they had enormous spending commitments and no way at all of covering those shy of selling all their assets
I warned my Bolton supporting mates that the pigeons would come home to roost but they dismissed it just like I heard their owner do on radio when their debt hit £120mill coz “most of that’s owed to eddie Davies and he’s never going to ask for it back”!! ????

I’ve never seen a club so horribly mismanaged and ignore all the warning signs that have been going back years
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Exactly Loudmouthblue and Bongsman,
You are spot on. All those years of laughing as they recruited the likes of Djorkaeff, Hierro, Campo, Okocha etc etc and smirking at other clubs supporters. Yes, they may have been free transfers, but their wages would be sky high.
A lot of their fans won't accept this, though. They seem to think that was all paid off and taken care of. What about all those multi millions of TV money as well?

Just terrible terrible management. When Davies sold the club for £1 to Dean Holdsworth, he must have seen all this coming and wanted out. Don't blame him.

In all honesty, when it goes back to court, they need liquidating. Not administration, liquidating. Its a disgrace if they escape again, an absolute disgrace. Their fans are now going on about running it as a 'community' club, like Bournemouth once did. But surely that's just fantasy. Their deadline in court is May 8th..seasons over so they wont have the EFL to hide behind this time, to ensure fixtures are fulfilled.

Fridays game against Villa is in the balance yet, the safety certificate to be withdrawn today, if Anderson doesnt guarantee the staff. And hes on a jolly in America.
 
loudmouthblue said:
One of the problems now and what is putting off any future investor/buyer is during one of their previous financial meltdowns the promise of future tickets sales income was used to bale them out, in essence that means an interested party has title to a proportion any future ticket sales before any money can be used for the running of the club.
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There's a couple of other alleged reasons too:
1) that before he died Davies gave the club a £5mill loan in order for it to pay some urgently needed bills/wages/tax. This was given on the understanding that it needed to be paid back unlike his previous directors loans. This loan needs to be settled by any prospective buyer
2) Allegedly as part of the agreement for writing off the director's loans that formed a massive part of their £120mill debt levels when Davies said he would no longer bankroll the club & wanted to sell it, Davies's family are due a huge windfall if the club ever gets back in to the Premier League. Prospective buyers are none too keen on this as it pretty much cancels out the financial benefit of getting in that division in the first place

Quite how the people running the club didn't see the potential issues for the future when running up the huge debt levels to Davies is unbelievable. Even if they never expected to have to pay that money back, it was clear that if the funding was ever withdrawn that the club would collapse in on itself - if you're relying on a director's loans to such an extent that it builds up over £120mill of debt when that money was withdrawn you would still have financial commitments (contracts, bills etc..) that couldn't just be stopped when the sugar daddy's money was stopped. As badly as Holdsworth & Anderson appear to have handled the running of the club, it was a pretty much impossible task that they took on & they also need their heads examined for not seeing the mess the club was in in the first place
 
Mighty Bongsmon said:
Basically they’re fucked not coz of Anderson (though he isn’t helping) but because of previous people in charge who thought they could spend Eddie Davies money like it grew on trees and didn’t need to budget.
Regardless of whether he was ever going to ask for that back, it meant that when Davies said he was spending no more they had enormous spending commitments and no way at all of covering those shy of selling all their assets
I warned my Bolton supporting mates that the pigeons would come home to roost but they dismissed it just like I heard their owner do on radio when their debt hit £120mill coz “most of that’s owed to eddie Davies and he’s never going to ask for it back”!! ????

I’ve never seen a club so horribly mismanaged and ignore all the warning signs that have been going back years
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What you just said there resonates with me too. I worked in Bolton for 8 years at a company that employed many BW fans. I'd often converse with them about football and sometimes their finances. A lot of them had their heads in the sand regarding their debts. Quotes such as; "It's only Eddie, he's a fan, the debt is just back pocket change to him, he'll write it off." Were pretty much the given.
 
It wouldn't surprise me if they did a Rangers in the close season. Wouldn't that be a kick in the dick for them if we finished third bottom but stayed up and a league place was also given to the conference runner up.
 
Narcissistic Ken has put out another of his embarrassing rants today. Makes for very entertaining reading, yet so unprofessional. Basically he's picked his ball up and gone home because no one likes him.

Has another pop at the players, supporters, recruitment team, caterers, sponsors, local council, supporters trust, journalists, past chairman, tea lady (made that one up). Everyone's fault but his basically. Interestingly he says he doesn't believe buyers have walked away because the creditor debts were higher than what they were told - which could be interpreted that he tried to blag them by saying they were lower than what they actually were. Incredible stuff really.

Seems they maybe trading one morally dubious character for another in Basini, despite saying the only way the club would survive is if some rich benefactor came on board, which this chap certainly isn't.
 
RaggedTrouseredPhil said:
What you just said there resonates with me too. I worked in Bolton for 8 years at a company that employed many BW fans. I'd often converse with them about football and sometimes their finances. A lot of them had their heads in the sand regarding their debts. Quotes such as; "It's only Eddie, he's a fan, the debt is just back pocket change to him, he'll write it off." Were pretty much the given.
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That's what baffles me about it all - surely someone could see that even if he wrote it all or a massive chunk of it off (which I believe he has done), at the point his backing stopped, they were always still going to be left with an enormous shortfall between their contractual financial commitments & their post-Davies income.
A shortfall that was never going to be able to be bridged without a complete fire sale of virtually everything they owned & all their players
What they've tried is a kind of half way house as they've tried to stay competitive but its just created further mess
I can genuinely see them folding coz I can't see any way out of the mess that they're in and its all self inflicted
 
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