[Football] Bolton Wanderers on the Brink?

[Easy 10]

They managed to find a buyer a couple of years ago when the club was about £150m in debt so this should surely be a doddle

I gather there's now an 11th hour deal being put in place over this loan, so if that gets agreed then they'll avoid going into administration (and getting clobbered by a 12 point penalty + 2 year suspension from the transfer market). That would be crackers over a measely £4m.

 

[Kuipers Supporters Club]

Tell them what? That the lower tiers are looking healthy in comparison to past years at the moment, or that the Premier League is not to blame for their financial woes?

There are many of that list who were completely responsible for their own downfall and really have no one else to blame but their own owners. I mean Boston United as an example, you probably wouldn't find a bigger bunch of running a football club l!

A lot of people could have said the same about us at the time, hence why I said fans...

 

[Kuipers Supporters Club]

What has the steady demise of those clubs got to do with the Premier League though ?

The money from the PL boosts wages further down the pyramid, meaning clubs don't live within their means to try and get there (or closer to it).

 

[Bold Seagull]

A lot of people could have said the same about us at the time, hence why I said fans...

You said try telling that to the fans, we didn't need telling, we knew who was at fault, as I'm sure many of them do. I still don't know what you meant by that?

 

[Kuipers Supporters Club]

You said try telling that to the fans, we didn't need telling, we knew who was at fault, as I'm sure many of them do. I still don't know what you meant by that?

Boston's owners might have been but it shouldn't mean the fans have to suffer because of them.

 

[Bold Seagull]

Boston's owners might have been but it shouldn't mean the fans have to suffer because of them.

But I never said they did.

I was merely commenting on where blame lies, not the poor fans who are always the ones to suffer.

 

[Easy 10]

The money from the PL boosts wages further down the pyramid, meaning clubs don't live within their means to try and get there (or closer to it).

That doesn't really wash. Sure, we've seen Championship clubs overstretch and bet the farm on getting promoted to the PL. But the teams you listed, your York Citys and Rusden & Diamonds, would never have had any PL pretensions. Of course lower league and non-league clubs have ambitions of playing at as high a level as possible, but every club also has a responsibility to cut its cloth according to its circumstances.

If a club at any level is not living within its means, and is not being run in a sustainable manner, then it can be for a variety of reasons. Regardless, that would not be the "fault" of the Premier League.

 

[mejonaNO12 aka riskit]

A question for someone who understands football insolvency.

Do players get recognised as an asset during an administration? Obviously they are employees, but unlike most business sectors, these are employees who other 'companies' can buy.

Or, are the players contracts so watertight now that their club going into admin activates a break in their contract?

 

[studio150]

Football clubs don't come much more historic or traditional than Bolton Wanderers. This is a sad week for English football. I wish all the Bolton fans well.

Being a founder member of the Football League should not carry any weight. If they receive a 12 point penalty how is that a sad day for English football.
I would have thought that a sadder day would have been when clubs benefited from going into administration meaning better run clubs missed out on promotion.

 

[El Presidente]

A question for someone who understands football insolvency.

Do players get recognised as an asset during an administration? Obviously they are employees, but unlike most business sectors, these are employees who other 'companies' can buy.

Or, are the players contracts so watertight now that their club going into admin activates a break in their contract?

Provided the club keeps keeps its contractual obligations to players their registration is kept by the club and can be sold to another club.

 

[mejonaNO12 aka riskit]

Provided the club keeps keeps its contractual obligations to players their registration is kept by the club and can be sold to another club.

Thanks.

So if an offer was made to buy out the club, would the administrators also place a value on the footballers as an asset?

Ie, the offer being made to buy the clubs assets would include those player valuations?

Because, as I understand it, when the admin is considering an offer for the clubs asset's, they will be assessing whether they can realise better for the creditors by selling the assets instead (including the players).

Or, would the administrator assume they would receive nothing in a close down selling of the players (assets) and then anything actually realised in transfer fees is a bonus?

 

[Pavilionaire]

Being a founder member of the Football League should not carry any weight. If they receive a 12 point penalty how is that a sad day for English football.
I would have thought that a sadder day would have been when clubs benefited from going into administration meaning better run clubs missed out on promotion.

Don't you care about the history of the game, the tradition? The White Horse FA Cup Final of 1923, the Stanley Matthews Cup Final of 1953? Nat Lofthouse?

I'm not saying Bolton should get special treatment here, but as fans we must recognise the dangers to our game of reckless chairmen and board members.

 

[studio150]

Don't you care about the history of the game, the tradition? The White Horse FA Cup Final of 1923, the Stanley Matthews Cup Final of 1953? Nat Lofthouse?

I'm not saying Bolton should get special treatment here, but as fans we must recognise the dangers to our game of reckless chairmen and board members.

History and current directors are 2 entirely different things.

 

[Postman Pat]

Seems they have dodged admin

Following on from all the speculation, I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.

I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.

As previously stated, I believe the club now has one of the lowest debt positions in the Championship.

I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.

We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

https://www.bwfc.co.uk/news/2018/september/a-note-from-the-chairman5/

 

[mejonaNO12 aka riskit]

Seems they have dodged admin

Following on from all the speculation, I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.

I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.

As previously stated, I believe the club now has one of the lowest debt positions in the Championship.

I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.

We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

https://www.bwfc.co.uk/news/2018/september/a-note-from-the-chairman5/

Be curious to know what the other liabilities they've cleared are.

I get them stretching creditors, as they appear to have done on a couple of loans, but to clear £1.5m of future costs and liabilities?

 

[BBassic]

Don't you care about the history of the game, the tradition? The White Horse FA Cup Final of 1923, the Stanley Matthews Cup Final of 1953? Nat Lofthouse?

I'm not saying Bolton should get special treatment here, but as fans we must recognise the dangers to our game of reckless chairmen and board members.

There's an element of Trigger's broom with regards to the vaunted history of the football league.

The thing has gone through structural changes, rebranding, more structural changes, more rebranding, a breakaway which formed an entirely new league.

Is the league that Bolton helped found the same league we know today?

As an aside: Villa were a founder member of the league too and they can lick my nuts.

 

[SAC]

It appears that the threat of administration has brought around a resolution. A dangerous game to play.

 

[Pavilionaire]

There's an element of Trigger's broom with regards to the vaunted history of the football league.

The thing has gone through structural changes, rebranding, more structural changes, more rebranding, a breakaway which formed an entirely new league.

Is the league that Bolton helped found the same league we know today?

As an aside: Villa were a founder member of the league too and they can lick my nuts.

Bolton Wanderers FC was created 141 years ago. The name itself - like Rovers - evokes a Victorian era. We invented the game and have some of the oldest football clubs in the world still competing. I think it would be a shame for them to fall out of the Football League to be replaced by a Bromley or a Telford.

 

[BBassic]

Bolton Wanderers FC was created 141 years ago. The name itself - like Rovers - evokes a Victorian era. We invented the game and have some of the oldest football clubs in the world still competing. I think it would be a shame for them to fall out of the Football League to be replaced by a Bromley or a Telford.

China invented football:

Cuju or Ts'u-chü is an ancient Chinese football game, also played in Korea, Japan and Vietnam. It is a competitive game that involves kicking a ball through an opening into a net. The use of hands is not allowed.[1] Invented in the Han Dynasty, it is recognized by FIFA as the earliest form of association football for which there is evidence, being first mentioned as an exercise in a Chinese military work from 3rd–2nd century BC.[2][3][1]

And if Bolton fall out of the league because of piss poor financial management then good riddance. Let's give Bromley or Telford a go at doing it properly.

 

[Pavilionaire]

China invented football:

Cuju or Ts'u-chü is an ancient Chinese football game, also played in Korea, Japan and Vietnam. It is a competitive game that involves kicking a ball through an opening into a net. The use of hands is not allowed.[1] Invented in the Han Dynasty, it is recognized by FIFA as the earliest form of association football for which there is evidence, being first mentioned as an exercise in a Chinese military work from 3rd–2nd century BC.[2][3][1]

Christ, I didn't realise it was the Chinese that came up with the offside rule, crossbar, goal nets, corner flags, linesmen, substitutes, half-time and the referee's whistle.