I am pleased Bolton appear to have been saved, but the new owner is Laurence Bassini, former bankrupt owner of Watford.
Its not him. His attempt failed and they were bought by another party.I am pleased Bolton appear to have been saved, but the new owner is Laurence Bassini, former bankrupt owner of Watford.
That's what happened at Bury, I think, because Dale was 'rescuing' the club. Clearly the EFL has to be independent and not a co-operative of self-serving club chairmen.If a club is about to collapse, and a dodgy fucker comes in and has the funds to save the club, are the EFL really going to stand in his way and determine that the club will collapse?
Its not him. His attempt failed and they were bought by another party.
That said, he nearly managed to buy them. I dont think the fa/efl would have stopped him.
Despite having gone bankrupt twice, taking 1.5m from watford in financial irregularities - a loan he never paid back, losing a huge court case to the russo brothers (the same ones scally lost a case to i think), and also being banned by the efl themselves from being in a position of power at any football league club for 3 years. Baffling that they would let him come in again, but i guess shows they are between a rock and a hard place. If a club is about to collapse, and a dodgy fucker comes in and has the funds to save the club, are the EFL really going to stand in his way and determine that the club will collapse?
Well, i read yesterday that they'd got the main creditor to take 30p in the pound for their debts. I.e. agree a 5m repayment rather than 15m that was owed, to be paid off gradually. Lucky them. Id imagine with a good attendance and a modest budget like we operate on they could really start to pay that off. Of course they wont. Theyll more likely gamble and try to get promotion and spend more money rather than paying off the debts.I fear that Boltons problems will continue for some time, until the next crisis.
The takeover company only appear to have the money to keep the club running in the short term.
Almost totally to blame - not for the wrong doings of respective chairmen at the club but not blowing the whistle when players, staff, contractors and suppliers were not being paid. Such action would've thrown light on the problem much sooner.I also daresay the EFL and footballing authorities aren't without blame.
I concur with you regarding payment of suppliers and at times the bigger companies are the worst offenders. We don't know the whole story but maybe some suppliers were happy to give the Club time. That said, non-payment of wages should've been an immediate flag to the EFL and a need to investigate.I agree Wayne, but not paying bills on time even after 90 days, is common practice in a lot of companies . How do the EFL determine between can't pay and won't pay just yet.