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Post by knowingeye on Feb 28, 2019 11:42:32 GMT
www.bbc.co.uk/sport/football/47401205"Bolton have failed to pay their playing or coaching staff their February wages, reports BBC Radio Manchester. It is the latest financial problem for the club, who are due in the High Court on 20 March to face a winding-up petition by Revenue and Customs."
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Post by 3putts on Feb 28, 2019 12:18:11 GMT
They hounded out several managers while still in the prem league sounds familiar. At least we have a solid chairman and we should be thankful for that
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Post by peekay67 on Feb 28, 2019 15:28:41 GMT
I'm sure they have enough in their piggy banks to last the short term.
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Post by Staffsoatcake on Feb 28, 2019 23:04:22 GMT
We should do the same with some of ours.
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Post by maninasuitcase on Feb 28, 2019 23:27:33 GMT
Trott on to league 1
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Post by mrteddysalad on Mar 1, 2019 17:15:46 GMT
and we still couldn't get 3 points off them
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Post by lordb on Mar 1, 2019 17:16:28 GMT
and we still couldn't get 3 points off them We got 4.
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Post by jarhead on Mar 1, 2019 17:26:14 GMT
🤣🤣🤣
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Post by crouchpotato1 on Mar 19, 2019 17:19:57 GMT
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Post by raythesailor on Mar 19, 2019 17:54:04 GMT
A sad story of a old and established club possibly going down the tubes.
Not sure of the legalities but clubs in administration have risen again from the ashes.
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Post by crouchpotato1 on Mar 19, 2019 18:07:28 GMT
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Post by crapslinger on Mar 19, 2019 18:24:39 GMT
A sad story of a old and established club possibly going down the tubes. Not sure of the legalities but clubs in administration have risen again from the ashes. Leicester, Port Vale and others all leaving suppliers with unpaid invoices, disgusting they should be made to start again from non league.
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Post by thevoid on Mar 19, 2019 19:10:55 GMT
It's a shame to see a club like Bolton struggling when you see a 'beige' team like Bournemouth thriving in the Prem.
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Post by stokefc on Mar 19, 2019 19:38:21 GMT
its quite sad really , if you,re badly run things like this happen , someone with a bit of nouse needs to get in their and give them a big kick up the arse
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Post by Northy on Mar 19, 2019 19:47:20 GMT
A sad story of a old and established club possibly going down the tubes. Not sure of the legalities but clubs in administration have risen again from the ashes. Their old owner wrote off £160m worth of debt, and they are still up shit creek without a paddle
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Post by waffles on Mar 19, 2019 19:52:58 GMT
A sad story of a old and established club possibly going down the tubes. Not sure of the legalities but clubs in administration have risen again from the ashes. Their old owner wrote off £160m worth of debt, and they are still up shit creek without a paddle Jesus
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Post by Somebody_Told_Me on Mar 19, 2019 20:09:51 GMT
A sad story of a old and established club possibly going down the tubes. Not sure of the legalities but clubs in administration have risen again from the ashes. Leicester, Port Vale and others all leaving suppliers with unpaid invoices, disgusting they should be made to start again from non league. I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it?
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Post by metalhead on Mar 20, 2019 7:03:04 GMT
Leicester, Port Vale and others all leaving suppliers with unpaid invoices, disgusting they should be made to start again from non league. I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Wow, how did that happen?
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Post by crapslinger on Mar 20, 2019 7:40:00 GMT
its quite sad really , if you,re badly run things like this happen , someone with a bit of nouse needs to get in their and give them a big kick up the arse Like Smurf at Vale ? they have been into admin twice within a nine year period.
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Post by Dutchpeter on Mar 20, 2019 7:51:24 GMT
Leicester, Port Vale and others all leaving suppliers with unpaid invoices, disgusting they should be made to start again from non league. I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Didn’t Leicester use administration as a tool to gain promotion to the premier league in 2003? My understanding was it freed them of debt, and monies were put into transfers, wages etc to aid their promotion bid. They’re the reason why the 10 point deduction occurs when a club enters administration.
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Post by kelw on Mar 20, 2019 7:54:44 GMT
Is enough money in the game now, even at lower league level thanks to TV money. Non league clubs can go pro or semi pro and few excuses for clubs getting in serious debt. Leicester was appalling the way they were allowed to write off so much money .Wasn't aware Port Vale had been into admin. Southampton had to take it on the chin and recovered and at last clubs can't get away with it like in the old days but before Sky ( although some still moan re them) we had clubs receiving winding up orders every week. Was talk of the bottom 2 leagues going semi pro to survive at one stage so before folk moan re Sky etc, they possibly saved many of our older, lesser supported clubs. Bolton aren't the best supported club in the world but had a big sponsorship backing and their troubles are simply down to poor management of the club. They need to be relegated and a huge points deduction for the following season as Leicester should have been
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Post by Somebody_Told_Me on Mar 20, 2019 8:03:32 GMT
I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Wow, how did that happen? Quite easy is you owe money to a Limited company and they go in to admmin, If there are no assets left to sell off, then you lose out. That's why they do a deal for someone will buy the club and offer to get them going again and pay off some debts. There's a romantic attachement to get football blubs going again, HMRC write will loads off, taxpayers lose out. I bet they wouldn't be so forgiving if mine or your company owe HMRC/TAX/VAT etc. Ken (What's his Name), Leeds United offered their creditors 1p in the pound and got it!!!!!!! Had the ground been in Leeds United Limited's name then that could have been sold to recoup funds for creditors, but it was owned by a seprate company. They start again with a debt free club, buy better players and piss on the clubs that struggle along trying to do the right thing.
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Post by Northy on Mar 20, 2019 8:03:50 GMT
Leicester, Port Vale and others all leaving suppliers with unpaid invoices, disgusting they should be made to start again from non league. I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Yet we had a Leicester fan on here I think, telling us they paid everybody back, we all knew he was telling big porkies
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Post by Somebody_Told_Me on Mar 20, 2019 8:05:46 GMT
I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Didn’t Leicester use administration as a tool to gain promotion to the premier league in 2003? My understanding was it freed them of debt, and monies were put into transfers, wages etc to aid their promotion bid. They’re the reason why the 10 point deduction occurs when a club enters administration. Exactly! Had 10 points rule not come in (and futher points now if 10 points isn't enough) Every club in the country would have done it.
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Post by Somebody_Told_Me on Mar 20, 2019 8:10:24 GMT
I know of someone owed in the hundreds of thousands by Leicester. I think they were offered 5p in the £1.00! or something daft like that. He went bankrupt, never recovered, they became Premier League Champions. Fair isn't it? Yet we had a Leicester fan on here I think, telling us they paid everybody back, we all knew he was telling big porkies Yes talking rubbish, I don't fully understand it, but certain people get first dibs at the cash/assets when sold or broken up. Perhaps one or 2 got most back. Most little guys would get pissed on. Happened to me recently, I had a credit note for returned goods for £1400 I was in no rush to use it, before I did I got a letter from the receivers. Never got a penny back.
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Post by Northy on Mar 20, 2019 8:20:57 GMT
Yet we had a Leicester fan on here I think, telling us they paid everybody back, we all knew he was telling big porkies Yes talking rubbish, I don't fully understand it, but certain people get first dibs at the cash/assets when sold or broken up. Perhaps one or 2 got most back. Most little guys would get pissed on. Happened to me recently, I had a credit note for returned goods for £1400 I was in no rush to use it, before I did I got a letter from the receivers. Never got a penny back. Not good at all. I was always vocal about stripping Pompey of the FA Cup they won about 10 year ago, spending other peoples money to win it, the FA had no balls to do anything like that.
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Post by flea79 on Mar 20, 2019 9:25:26 GMT
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Post by terryconroysmagic on Mar 20, 2019 10:29:00 GMT
Wow, how did that happen? Quite easy is you owe money to a Limited company and they go in to admmin, If there are no assets left to sell off, then you lose out. That's why they do a deal for someone will buy the club and offer to get them going again and pay off some debts. There's a romantic attachement to get football blubs going again, HMRC write will loads off, taxpayers lose out. I bet they wouldn't be so forgiving if mine or your company owe HMRC/TAX/VAT etc. Ken (What's his Name), Leeds United offered their creditors 1p in the pound and got it!!!!!!! Had the ground been in Leeds United Limited's name then that could have been sold to recoup funds for creditors, but it was owned by a seprate company. They start again with a debt free club, buy better players and piss on the clubs that struggle along trying to do the right thing. But is the brand ie. the Clubs name, “Leicester” not part of the assets of the Club and therefore if the limited company is wound up then that asset transfers to the liquidator? They should have had to come back as the Leicester Rats, Tigers, Chameleons etc!
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Post by raythesailor on Mar 20, 2019 10:29:11 GMT
With only a handful of games remaining before the season ends, it seems a shame that any decisions can not wait.
Fully appreciate that players and staff are not being paid but there is plenty of money elsewhere in football that could help until the close season.
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Post by terryconroysmagic on Mar 20, 2019 10:30:44 GMT
Yet we had a Leicester fan on here I think, telling us they paid everybody back, we all knew he was telling big porkies Yes talking rubbish, I don't fully understand it, but certain people get first dibs at the cash/assets when sold or broken up. Perhaps one or 2 got most back. Most little guys would get pissed on. Happened to me recently, I had a credit note for returned goods for £1400 I was in no rush to use it, before I did I got a letter from the receivers. Never got a penny back. Priority creditors on a winding up (I may have the order slightly askew) Employeees wages Fixed charge holders Floating charge holders Taxman Ordinary Joe Soaps
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