Bolton....interesting... | Page 2 | Vital Football

Bolton....interesting...

How the hell do they just clear all the debts? This guy taking over is probably one of Anderson’s mates. They’ve been bloody crafty and left it as long as possible, I bet the club escapes any kind of punishment too. There won’t be any points deduction or transfer embargo. Yes they’ll be relegated but they’ll just be able to carry on as normal. Only a football club could get away with what has happened there. Any other type of business would’ve been put into administration or liquidated a long time ago.
 
I remember about 10 years ago reading an article about every club in the Premier Leagues level of debt - I was stunned to see Bolton were right near the top at something crazy like near 200m when little Wigan had about 10m - considering they'd be in the Prem longer than us and were similar sized it seemed completely insane that was possible. But for years that reality seemed to have little to no bearing on anything they did.

I also remember an article about wage bills a couple of years after Bolton had dropped out of the Prem and the wage bill was huge - which was even stranger considering you looked at their squad and they didn't have any big name players - they were clearly over paying by massive amounts despite being nowhere near a Premier League return which encourages some clubs to gamble on promotion.

It seemed like at no point did anyone at Bolotn worry about who is going to pay for todays spending tomorrow, they never cut their cloth to fit their income. This crisis was coming for years and at no point did the people running the club ever try and take any measure to prevent it until the shit was hitting the fan big time.

Managers always want more money to spend on players and fans always want to see their club attracting good players but the CEO / CFO's job is to not make the manager and the fans happy in the short term if it puts the club in huge danger in the long term and it feels like whoever was in those positions at Bolton seemed like a giddy fan with no economic understanding rather than a pragmatic business man. An utter dereliction of duty.

God bless Jonathan Jackson eh!
 
I remember about 10 years ago reading an article about every club in the Premier Leagues level of debt - I was stunned to see Bolton were right near the top at something crazy like near 200m when little Wigan had about 10m - considering they'd be in the Prem longer than us and were similar sized it seemed completely insane that was possible. But for years that reality seemed to have little to no bearing on anything they did.

I also remember an article about wage bills a couple of years after Bolton had dropped out of the Prem and the wage bill was huge - which was even stranger considering you looked at their squad and they didn't have any big name players - they were clearly over paying by massive amounts despite being nowhere near a Premier League return which encourages some clubs to gamble on promotion.

It seemed like at no point did anyone at Bolotn worry about who is going to pay for todays spending tomorrow, they never cut their cloth to fit their income. This crisis was coming for years and at no point did the people running the club ever try and take any measure to prevent it until the shit was hitting the fan big time.

Managers always want more money to spend on players and fans always want to see their club attracting good players but the CEO / CFO's job is to not make the manager and the fans happy in the short term if it puts the club in huge danger in the long term and it feels like whoever was in those positions at Bolton seemed like a giddy fan with no economic understanding rather than a pragmatic business man. An utter dereliction of duty.

God bless Jonathan Jackson eh!
And now the saga at Cheats FC continues with twice bankrupt Bassini at the helm. All debts payed off, players paid etc. With what? and whose money?. It's just one debt replacing all the others but it enables them to continue living beyond their means and deeper into the brown stuff and probably fully supported by the spineless and faceless at the EFL.
Talk about bringing the game into disrepute.
I hope it all goes tits up for the arrogant cheating gets or they have a sustained period at league 1 level or below. Watch it though the rule bending cheats will be talking about a quick return to the Championship but they won't be doing it with any restraints to spending because somebody's money will have to finance their shambles. Ok till they want their money back!
 
:oops:...................:unsure: ...........Who are you and what have you done with KDZ? :hmmm:
;)

I've never said anything bad against Jackson, i always said when others were questioning his involvement in our bad spells that he's just in charge of keeping the finances under control which he's done well and would've had little to no say over the on field decisions.
 
I've never said anything bad against Jackson, i always said when others were questioning his involvement in our bad spells that he's just in charge of keeping the finances under control which he's done well and would've had little to no say over the on field decisions.
Maybe my memory's playing tricks then KDZ ................... I seem to recollect that you were with MiW in not exactly rating the record of either Jackson or Sharpe.

If I've recollected incorrectly, then I apologise.
 
Maybe my memory's playing tricks then KDZ ................... I seem to recollect that you were with MiW in not exactly rating the record of either Jackson or Sharpe.

If I've recollected incorrectly, then I apologise.

Nope you've misremembered, when folks were saying the bad choice of manager and player were on Jackson i always said he would've had little to no influence on that side of things and said he has actually done a very sensible job with our finances and much of the critism aimed at at him was probably misplaced.
 
It'll all end in tears. Bassini claims he didn't do due diligence so doesnt know what the debts are. Unbelievable really, given every other buyer walked after they had done so given the scale of the debt. He won't be clearing the major debts as he's looking to speak to the creditors i.e. Renegotiate when he finds out who they are. Hasn't paid much for the club, which means Anderson will have a claim on future profits. Utterly bizarre.
 
It should also be pointed out that the sale is still subject to EFL approval.
Not saying that he won’t, but Bassini has yet to pass the fit & proper persons test or have his proposals for paying off the debts and keeping the club going, approved
 
It'll all end in tears. Bassini claims he didn't do due diligence so doesnt know what the debts are. Unbelievable really, given every other buyer walked after they had done so given the scale of the debt. He won't be clearing the major debts as he's looking to speak to the creditors i.e. Renegotiate when he finds out who they are. Hasn't paid much for the club, which means Anderson will have a claim on future profits. Utterly bizarre.

It’s staggering that he’s gone from promising to have the funds to wipe out their debt to “obviously I don’t know what all the debts are”

Aside from the fact that he’s been declared bankrupt twice (someone else’s fault both times), barred from running a football club (coz of someone else’s fault) & is still the subject of legal proceedings from his time at Watford, there’s your first warning bell right there!!! ????
 
It’s staggering that he’s gone from promising to have the funds to wipe out their debt to “obviously I don’t know what all the debts are”

Aside from the fact that he’s been declared bankrupt twice (someone else’s fault both times), barred from running a football club (coz of someone else’s fault) & is still the subject of legal proceedings from his time at Watford, there’s your first warning bell right there!!! ????

They are celebrating like its all done and dusted. But it really isnt. He hasnt done due diligence, and the EFL havent actually given him the go ahead. It reeks of dodginess once again. Even if the deal does go through, it doesnt mean it will all end well.

I still have a feeling its all going to fall through. It shows how thick their fans are that they go from almost being suicidal one moment, over their clubs situation, to suddenly dreaming of being back in the Premier League under this chancer.

Me? I am resigning from their employment today. I have had enough, and can't wait to get away from the place. Never known a place like it.
 
They are celebrating like its all done and dusted. But it really isnt. He hasnt done due diligence, and the EFL havent actually given him the go ahead. It reeks of dodginess once again. Even if the deal does go through, it doesnt mean it will all end well.

I still have a feeling its all going to fall through. It shows how thick their fans are that they go from almost being suicidal one moment, over their clubs situation, to suddenly dreaming of being back in the Premier League under this chancer.

Me? I am resigning from their employment today. I have had enough, and can't wait to get away from the place. Never known a place like it.


What was your job as a matter of interest
 
What was your job as a matter of interest

I'd rather not say, its irrelevant anyway. But I was in day to day contact with the manager, players and coaching staff and in the inner sanctum of the club. But I am off elsewhere as got another job elsewhere.

I am awaiting a problem to arise with the takeover, as I am pretty sure he hasnt got the money to pay all those debts.
 
I am awaiting a problem to arise with the takeover, as I am pretty sure he hasnt got the money to pay all those debts.

Don't be daft - of course he has the money. He said so the other week & who wouldn't believe a twice bankrupt businessman who was barred from a position of power at any football club for 3 years just 6 years ago for all manner of misdemeanours (allegedly as I am aware he claims that 6 years later he now has the evidence that it was all the fault of other people)?? ;)

Lets just ignore the fact that he now says he doesn't actually know what all of the debts are :rolleyes:
 
As an outsider looking in I find it all extremely bizarre. Why would a man he didn't have a pot to piss in 18 months ago - given he was taken to court as he couldn't pay rent - suddenly have funds to take over a debt ridden broken football club? Why would a man who's been declared bankrupt twice not be cautious and carry out the requisite due diligence checks before buying such a debt ridden business?

I read an article on this in the Bolton news earlier and the comments section was interesting. There is the understandable concern, though some of the gullible Bolton happy clappers have swallowed the it wasn't his fault line and he'll take the to the prem crap in a few years. He clearly isn't a fit and proper person to run a football club but the efl will ignore that along with the 'source' of his funds and wave him through without doing their own due diligence. Out of frying pan into the fire springs to mind and if they haven't entered admin in 12 months I'd be very surprised.
 
Just waiting for it to hit a 'snag'.

Bolton fans are celebrating....too soon.

Awaits a lot more drama and falling out....its boring now. Of course youd buy a football club before finding out how many millions in debt they are.

The business sense of Michael Carroll.
 
Does anyone think that the EFL are making a rod for there own back ? Surely they are setting a president by keeping Bolton alive by hook or by crook. If any other club finds there self in this position a good Barrister would have a field day with them in court.
 
Coach load of Bolton fans in our village last night. I asked them if they fancied joining in my Staying Up party and they just scowled and pouted. No wonder nobody except ne-we-do-wells want to buy them. Spoilsports ???