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Bolton

Discussion in 'General Football' started by Park bantam, Feb 28, 2019.

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  1. Bronco

    Bronco Star Player
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    I would hope they don't have to take that option, hit the money men not the fans, how that can be done I'm not sure.
     
    #121 Bronco, May 1, 2019
    Last edited: May 1, 2019
  2. Ricc

    Ricc Impact Sub

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    They won't get expelled from the league. they'll go in administration if this new guy can't provide proof of funds, and start next season with a points deduction. a new buyer could probably be found by administrators if the debts are written off.
     
    #122 Ricc, May 1, 2019
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  3. Damo

    Damo Squad Player

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    I agree. But living far beyond means is sometimes down to fans expectations too but there is a lot of trust that owners have done their sums and everything is ok
     
    #123 Damo, May 1, 2019
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  4. Bronco

    Bronco Star Player
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    Our lass would like a 4 bedroomed detached in Formby, but she aint' getting one.

    Of course the vast majority of fans want the best, but trying to achieve that is down to the responsible people at the club to make sure they don't over commit
     
    #124 Bronco, May 1, 2019
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  5. Storck

    Storck Regular Starter

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    They have closed the hotel now too
     
    #125 Storck, May 1, 2019
  6. Bigrod

    Bigrod Captain
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    Was that the George?
     
    #126 Bigrod, May 1, 2019
  7. Storck

    Storck Regular Starter

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    #127 Storck, May 2, 2019
  8. Park bantam

    Park bantam Regular Starter
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    Looks like they will go into admin now with a 12 point deduction and a possible 8 points for not fulfilling a fixture 20 points to make up
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #128 Park bantam, May 5, 2019
  9. Stafford Bantam

    Stafford Bantam Captain
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    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #129 Stafford Bantam, May 8, 2019
  10. Offcomedun

    Offcomedun Important Player
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    Sounds like they have until 10.30 to put arrangements for Administration in place or they could face liquidation.
    I can't say I'm sad to see them go into Administration - they basically cheated their way out of L1 by obtaining players that everyone knew they couldn't afford. The FL turned a blind eye to that - and then let them reinforce in January by signing loan players, despite their owing money for previous transfers - and has indulged them for far too long in the Championship. So an Admin, with additional points deduction for missing games, in L1 serves them right as far as I'm concerned. Tough on the fans but hey ho.

    However, it would be shocking to see one of the oldest FL clubs go out of existence, and terrible for their fans. So I hope they get their act together to avoid liquidation.
     
    #130 Offcomedun, May 8, 2019
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  11. Dennis

    Dennis Captain
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    It's a shame that it's come to this. But Bolton appear to collect ne'er do well owners and potential owners like nobody else does!

    Once the High Court hears the HRMC's winding up petition, I don't see any other outcome than the petition being granted. This means that the club is handed over to the Official Receiver and liquidation of the club is the only outcome in order to pay off its debts. It would be better for the club to avoid the petition being heard and place itself in Administration prior to the hearing and then construct some form of CVA which the club hopes can be negotiated with the creditors. They're between a rock and a hard place but the nuclear option of liquidation is to be avoided at all costs. That would be the end of Bolton Wanderers.

    Despite their own wrongdoings over recent years, I wouldn't want to see another club go to the wall but they will have to take their punishment like every other club would have to do in these same circumstances. The only good thing to come out of this is that Anderson who seems to be responsible for this mess will lose most of his investment!

    I trust that the EFL has a long hard look at itself and its own processes because they don't come out of this saga well. Their job has to be to avoid a repeat of this by tightening up their FFP procedures, their financial governance processes and revamping their Owners and Directors Test. It's shocking that it has come to this but without changes, it could all happen again.
     
    #131 Dennis, May 8, 2019
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  12. Bigrod

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    Spot on. Clubs have to live within their income. Massive squads of players on disproportionately high salaries is, I anticipate a factor. The ‘get quick rich’ mentality of borrowing, to ‘hire’ better players, and therefore gain an advantage over other clubs needs to be curtailed. As you say the EFL have a lot to answer for this debacle.
     
    #132 Bigrod, May 8, 2019
  13. Park bantam

    Park bantam Regular Starter
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    Talksport says they have gone into admin
     
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    #133 Park bantam, May 8, 2019
  14. Bigrod

    Bigrod Captain
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    #134 Bigrod, May 8, 2019
  15. SydneyBantam

    SydneyBantam Impact Sub

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    disgraceful whats happened there. FA need a look at too.
     
    #135 SydneyBantam, May 8, 2019
  16. Storck

    Storck Regular Starter

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    Will have to wait what the outcome of the court hearing is. The judge might see through the administration as just another delaying tactic.
     
    #136 Storck, May 8, 2019
  17. BradfordBanter

    BradfordBanter Squad Player

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    Adjourned till 22nd May, it just keeps dragging on...
     
    #137 BradfordBanter, May 8, 2019
  18. Storck

    Storck Regular Starter

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    So technically still not in administration but they are planning on it.
     
    #138 Storck, May 8, 2019
  19. Park bantam

    Park bantam Regular Starter
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    They will need to show a workable CVA plan
     
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    #139 Park bantam, May 8, 2019
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  20. Bronco

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    #140 Bronco, May 8, 2019
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