Bolton now in Administation

Which company are you on about though Detee? There is what we may all refer to as BWFC incorporated 1895 then there is Inner Circle investments who bought the shares in the parent company Burnden leisure from the liquidator of Sports Shield BWFC limited. (the Liquidator's annual report to creditors of this company makes for interesting reading) As does the report in Burnden Leisure's last set of accounts that they dispute the terms of the loan (charged at 24% pa made by sports shield). Also note around sept of 2018 the charges on the BWFC company were satisfied and seem to have been replaced by charges on fixed and floating assets and some freehold land by Moonshift Investments ltd (reputedly a Bermuda Company owned by Eddie Davis - as reputedly is the Fildraw Trust which also owns shares/gives loans) and Ken Anderson. Also in 2017 £197,000,000 ca. in loans were written off (I seem to recall by Anderson) It's not readily apparent from companies house who exactly owns what. There are a couple more companies involved at the edges aswell. The stadium appears to show depreciation on the balance sheet (last valued at £21m and the Whites Hotel Limited at £2.5m) but what would its value be if BWFC were to lose its share in the league?

 

BOLTON WANDERERS FOOTBALL & ATHLETIC COMPANY LIMITED(THE)

Company number 00043026 is the football club.


The loans were written off by the Davies family after his passing to aid the sale of the club.

There are outstanding charges due to Moonshift which is the Davies family which over various freehold And leasehold about the stadium and surrounding area.

Not withstanding the club still owes the family for money advanced against premier league monies.

Anderson’s got millions secured against the stadia and land.

Prescott business park ltd is in for another £5m

Warburtons another £5m or so once the penalty clauses are recovered.

Barclays...

It’s mortgaged up to and well past the hilt, it’s irrelevant if the lenders are based in the UK BVI or Outer Mongolia the monies are due and have been for a long time.

You need to get away from this football creditors take precedent. They don’t against secured debt. They are top of the pile.

Warburton aside as I don’t know much about him barring him being a former director the rest of the secured creditors do not give a **** if the club gets sold and they paid or the land gets sold for development and they get paid.

As for the golden share, it’s only worth what someone is willing to pay for it. As little as possible.

Clubs ******, it’s a mess from top to bottom before you start looking at the subsidies and they are the tip of the iceberg.

Wendy, Brum,derby, villa, reading, Blackburn... all waiting in the wings to replace Bolton as next seasons disaster.

I honestly hope they fold as it’ll be a big warning siren to the others that this game can’t continue in it’s current guise.

 

I don't disagree that the secured creditors can recoup the value realised from whatever their debt is secured against. What I am saying is that the league suspend their share on administration and won't reinstate it until all football related debts ( eg ex- managers severance pay and outstanding transfer fees etc) are paid in full. As anyone who comes forward to present a CVA is really interested in is the share and therefore place in the league, then such debts become a priority over unsecured creditors. Effectively the league have created a class of creditor that doesn't exist elsewhere. If no CVA appears and the club moved to liquidation, as mentioned by other posters, the league would kick them out, hence a liquidator could not sell off their share in the league, the league would probably admit AFC Fylde. The only significant precedent I can think of is rangers in Scotland who had to start again from scratch.

 

And they wont come out of admin until the secured debts are realised.

Which is why the administrators there.

Everything else is a mute point at the moment.

Flog carparks off to persimmon. You can have Gartside close with only 20 properties...

 

Absolutely facinating all this and i agree, bolton should take the full wrath and let this be an example to everyone, who thinks they can run a football club on this basis.
QPR and Birmingham had slaps on the wrist.......time to get tough...or we could all do it.
Btw, which player in their right mind would sign for a club, who don't pay wages!!

 

moot

 

Sisyphus

 

Boulders to thee.

 

Fair point MF. Both phrases are apparently widely used. In the right context, to be rendered Mute means
" rendered speechless", whilst rendered Moot could mean " rendered irrelevant." In Bolton Wanderers
case, it's easy to see why an inspection of their financial affairs could render anyone well and truly mute.!
Financial irresponsibility of the highest order. The EFL need to severely punish them as a warning to other
Clubs who may choose to take a similar path. It would be nice for once to hear the phrase " for a Club like
Barnsley", to be used to emphasise as to how to properly run a football Club.