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Post by KevinWhimper on Feb 22, 2016 12:29:43 GMT
Crazy really. Cost less than Steven Naismith to Norwich.
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Post by Staying up for Grandadstokey on Feb 22, 2016 12:33:54 GMT
Crazy really. Cost less than Steven Naismith to Norwich. Or Wilson Palacios  |
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Post by Lakeland Potter on Feb 22, 2016 12:36:07 GMT
Who is responsible for the debt? The new owners? The debt far outweighs the value of the club.
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Post by werrington on Feb 22, 2016 12:38:20 GMT
Think they had to sell their state of art training complex for a cut price fee to Wigan Athletic to ease the debt
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Post by KevinWhimper on Feb 22, 2016 12:46:46 GMT
I'm sure I read somewhere that the previous owner was willing to write-off the £150 odd mill of debt but could be wrong.
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Post by Staying up for Grandadstokey on Feb 22, 2016 12:47:52 GMT
Who is responsible for the debt? The new owners? The debt far outweighs the value of the club. I would presume the new owners would have come to some arrangement as to the debt, hence the low selling price . |
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Post by Bick on Feb 22, 2016 13:00:49 GMT
I believe the current (now old) owner actually wrote his debt off that the club owed.
That said, it is still in a dreadful position and could continue to spiral downward.
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Post by Menorca Stokie on Feb 22, 2016 14:49:43 GMT
BBC saying it could rise to 12.5 mil and no real mention of what will happen to the debt of 172 m.
I'm not sure what the real value of the club would be without the debt, I guess it would depend on what assets the club has. Didn't sir Peter by the club back for around 4 million or have I dreamt that?
I think he sold it for 7.5m .
There is a big void between the rich and poor nowadays, it could have been very easily is in this position without such an astute owner and some clever investment.
Relegation from the premier is a serious risk if not managed properly, let's hope we don't experience it any time soon.
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Post by Claus_SCFC on Feb 22, 2016 14:56:54 GMT
Once again reminded of how blessed we are with the Coates family in ownership
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Post by slpmarc on Feb 22, 2016 19:09:08 GMT
The original debt will be written off when sale goes through. But the HMRC DEBT CANNOT BE. The £7.5 mill covers the sale but HMRC want there debt to be paid off first making the sale impossible as the consortium cannot pay both off. This could either fall through or the club could still be liquidated
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Post by followyoudown on Feb 22, 2016 19:29:02 GMT
The original debt will be written off when sale goes through. But the HMRC DEBT CANNOT BE. The £7.5 mill covers the sale but HMRC want there debt to be paid off first making the sale impossible as the consortium cannot pay both off. This could either fall through or the club could still be liquidated While there is still a chance the deal falls through or the club is liquidated I don't think it is very likely,the most basic due diligence would have picked this up for the consortium and even if this were a deal breaker the current owner has a choice pay the £2.2m or reduce £7.5m sale price or let the sale fall through and get nothing, my view is for £5m+ sale price worst case not a chance this falls through. |
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Post by jamie75 on Feb 22, 2016 19:50:53 GMT
The original debt will be written off when sale goes through. But the HMRC DEBT CANNOT BE. The £7.5 mill covers the sale but HMRC want there debt to be paid off first making the sale impossible as the consortium cannot pay both off. This could either fall through or the club could still be liquidated While there is still a chance the deal falls through or the club is liquidated I don't think it is very likely,the most basic due diligence would have picked this up for the consortium and even if this were a deal breaker the current owner has a choice pay the £2.2m or reduce £7.5m sale price or let the sale fall through and get nothing, my view is for £5m+ sale price worst case not a chance this falls through. It's £7.5m down payment with another £12.5m over next few years. The debt has been written off by the now President of the club Eddie Davies and a stand to be named in his honour. The HMRC debt of £3m is still to be paid. Can't recall who is paying it but nobody is going to pay £7.5m one day then not have the HMRC debt sorted. There's still a lot of grumbling with the fans though. Two of my good mates are life long Bolton fans and we had a good chat about it over the weekend. They're not happy but it's better than liquidation. |
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Post by followyoudown on Feb 22, 2016 20:08:17 GMT
While there is still a chance the deal falls through or the club is liquidated I don't think it is very likely,the most basic due diligence would have picked this up for the consortium and even if this were a deal breaker the current owner has a choice pay the £2.2m or reduce £7.5m sale price or let the sale fall through and get nothing, my view is for £5m+ sale price worst case not a chance this falls through. It's £7.5m down payment with another £12.5m over next few years. The debt has been written off by the now President of the club Eddie Davies and a stand to be named in his honour. The HMRC debt of £3m is still to be paid. Can't recall who is paying it but nobody is going to pay £7.5m one day then not have the HMRC debt sorted. There's still a lot of grumbling with the fans though. Two of my good mates are life long Bolton fans and we had a good chat about it over the weekend. They're not happy but it's better than liquidation. I think we are basically agreeing, i'd read the £12.5m was going to be an investment over 5 years rather than additional purchase price but they're still going to be some way off competitive. For £185m i'd want my name on every seat, cup, sheet of bog roll nevermind a stand! |
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Post by nicholasjalcock on Feb 23, 2016 6:57:07 GMT
Cheap at the price when you consider what 'Smurf' is asking for the Vale!
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Post by mumf on Feb 23, 2016 8:49:55 GMT
I can't believe that it's been sold ......
There are much better 'pedigrees' to buy that are languishing in the doldrums ready to be rejuvenated .
I can only see this latest acquisition ending in tears for the poor souls who have bought it .
Madness in my opinion .
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Post by Lakeland Potter on Feb 23, 2016 10:00:41 GMT
I can't believe that it's been sold ...... There are much better 'pedigrees' to buy that are languishing in the doldrums ready to be rejuvenated . I can only see this latest acquisition ending in tears for the poor souls who have bought it . Madness in my opinion . Yes, but it has been bought by locals because they want to save and have a hand in rejuvenating that club. Obviously a billionaire foreign owner would go for a club with more potential to make a profit. Good luck to the purchasers. They'll never become mega rich but if they can turn things round and get close to break even they will deserve the thanks of the fans. At least it appears the debt has been written off. I think the current owner hung on for too long he's been on a hiding to nothing for years. Since Big Sam left it has been a club in decline as far as finances are concerned. The intrinsic problem with Bolton is that despite having a great stadium (about the same size as the unfinished Brit) they rarely came close to filling it even when they were in the Prem. A glance at the map will show that area of Lancs/Yorkshire simply has too many middle sized clubs for the population. Preston, Wigan, Burnley, Blackburn, Bolton, Rochdale, Bury - that is at least 2 or 3 clubs too many for the area to support. |
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Post by KevinWhimper on Feb 23, 2016 11:31:38 GMT
I can't believe that it's been sold ...... There are much better 'pedigrees' to buy that are languishing in the doldrums ready to be rejuvenated . I can only see this latest acquisition ending in tears for the poor souls who have bought it . Madness in my opinion . Yes, but it has been bought by locals because they want to save and have a hand in rejuvenating that club. Obviously a billionaire foreign owner would go for a club with more potential to make a profit. Good luck to the purchasers. They'll never become mega rich but if they can turn things round and get close to break even they will deserve the thanks of the fans. At least it appears the debt has been written off. I think the current owner hung on for too long he's been on a hiding to nothing for years. Since Big Sam left it has been a club in decline as far as finances are concerned. The intrinsic problem with Bolton is that despite having a great stadium (about the same size as the unfinished Brit) they rarely came close to filling it even when they were in the Prem. A glance at the map will show that area of Lancs/Yorkshire simply has too many middle sized clubs for the population. Preston, Wigan, Burnley, Blackburn, Bolton, Rochdale, Bury - that is at least 2 or 3 clubs too many for the area to support. Not to mention the two twats in Manchester! |
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