They took 1,800 to Wycombe which is decent. This will have a number of clubs looking over their shoulders. How they got into the debt they did is unbelieveable.
Hopefully, should a deal not be doable, they will start anew and enter the leagues in a number of years time. Maybe even led by a decent owner/fan led consortium.
Geez, makes me think this could be the start of a few....Did I hear Colin Murray say something about Oldham Athletic been in ££££ trouble or did I imagine it?
Let's hope that if the worst comes to the worst, that the EFL lump a huge bill on Anderson for their time, the knock on effect of a winding up order to the league and whatever that might entail, the players contractual situations etc etc etc....
Though I know jack $hit about Ken Anderson, I understand that the Bury owner (Dale) bought the club for £1 but doesn't appear to know anything about running a football club. He inherited large debt but did nothing about it...Did he think that the debt disappeared or something? He appears to be not only a football novice, but not a very bright businessman....None football people buying clubs, on a whim, is a recipe for disaster, but I guess we already knew that!!!!!
Steve Dale is a professional liquidator if businesses. How he was allowed anywhere near club ownership beggars belief.
Like for instance a club with near £50 million of debt, with owners who don't really give a damn about it as they're only concerned about whats right for themselves, and that's losing money having more than halved its attending fan base and is paying a nice interest rate on the debt to said owners? I no longer see how and where our downward spiral will end. (Apologies if point already made earlier in thread).
We only got 2,500 more in a higher league. Bolton today could be Hull City this time next year. Be careful what you wish for. Also note, Fairy Godmothers don't exist.
Good article by David Conn. Makes some owners appear philanthropic. 138% interest rate ! https://www.theguardian.com/commentisfree/2019/aug/26/bury-britain-gigg-lane-brexit
Could be all bollocks, we now what forum experts and itk types are like, but I just had a look on the Bolton forum, and it seems the 5pm thing is the start of the league meeting rather than the deadline. Then there's this..."I *imagine* what is happening is FV have said to Ken, we'll give you e.g. £3.5m and he's said "fine, as long as EDT will take £3.5m from me". Now one way of looking at that is this is the best way for EDT to get as much money back. If they say no, club goes bust, Ken gets pennies in the £ and so EDT get pennies in the £. Another way is for EDT to say to Ken "you owe us £5M. That you then lent it to an insolvent football club is your problem, we want our £5m". Option b) would make the most sense but Christ only knows how Ken's assets are structured and how easy it would be for EDT to actually get their £5m, so they might decide a guaranteed £3.5m is better than a risky £5m." https://the-wanderer.co.uk/boards/viewtopic.php?f=4&t=26980&start=3080
Sky with a ****ing countdown clock like its transfer deadline day. What the **** is wrong with these people? **** the EFL.