Bolton Wanderers

[Hiney]

Sky Sports reporting Bolton have been sold for £7.5m to the consortium headed up by Dean Holdsworth

 

[Grombleton]

7.5m? We sold Ulloa for more than that.

 

[8th battalion East Lancs]

The best way to put it is that this is probably five or 10 years ahead of what we were trying to achieve at Burnley.

http://www.theguardian.com/football/2010/jan/11/owen-coyle-bolton-wanderers-burnley

 

[BensGrandad]

Presumably the new concortium take over tbeir debts or do they go into administration.

 

[8th battalion East Lancs]

Presumably the new concortium take over tbeir debts or do they go into administration.

The only debts (apart from making losses every month) are to HMRC and they have another 14 days to get it sorted or it's Admin for them.

 

[BensGrandad]

Isnt that debt quite large so perhaps the new owners will do a deal with HMRC.

 

[Swillis]

http://www.theguardian.com/football/2010/jan/11/owen-coyle-bolton-wanderers-burnley

Bolton sacked Coyle after a poor start to the season following their bid to gain promotion back to the top-flight.
Freedman said: 'I am delighted to join Bolton. The club is geared up to getting back into the Premier League.
'There is an impressive setup and structure in place, and a first team squad of undoubted quality. I am excited about the challenge ahead of us.'

http://www.dailymail.co.uk/sport/fo...gie-Freedman-joins-Bolton-Crystal-Palace.html

 

[8th battalion East Lancs]

Isnt that debt quite large so perhaps the new owners will do a deal with HMRC.

It's more than the £7.5 million that Holdsworth and his group have 'supposedly' bought Bolton for.

The Judge at the hearing said that all debt has to be cleared with the sale of the club or it will be wound up.

 

[LlcoolJ]

Not very clear is it. One would guess that the club has actually been "sold" for £1 and the £7.5m is cash they are putting in to pay debts / keep it running, but who knows?

 

[Icy Gull]

Shame for Bolton that Freedman isn't there any longer, he could possibly give them advice on how to wriggle their way out of all their debts, a la Crystal Palace

 

[Thunder Bolt]

It's more than the £7.5 million that Holdsworth and his group have 'supposedly' bought Bolton for.

The Judge at the hearing said that all debt has to be cleared with the sale of the club or it will be wound up.

According to this article HMRC are owed £2.2M
http://www.bbc.co.uk/sport/football/35630605

Althought their total debt is a lot more - The club are £172.9m in debt, and also under a transfer embargo for breaking Financial Fair Play regulations.

 

[8th battalion East Lancs]

I must have misread but HMRC have said that £7.5 million doesn't cover what's owed to whoever.

Eddie Davies is writing most of the debt off and wants £15 million.

 

[Sussex Nomad]

That was my understanding, that the vast majority of the debt is to the owner who already said he would write it off when the club was bought.

 

[LlcoolJ]

Really surprised that they didn't wait until the club went into administration before taking it over. Yes they would have been guaranteed to be relegated but financially the club would have been in a better position. Is this a massive gamble that they will stay up? It all sounds a bit dodgy anyway (which isn't surprising).

 

[Puppet Master]

He shagged Lindsey Dawn McKenzie in his car


Skank

 

[ditchy]

Really surprised that they didn't wait until the club went into administration before taking it over. Yes they would have been guaranteed to be relegated but financially the club would have been in a better position. Is this a massive gamble that they will stay up? It all sounds a bit dodgy anyway (which isn't surprising).

They either must think they have a good chance of staying up or feel confidant enough to take a 12 point hit next season and still get promoted

 

[atfc village]

If the fat bloat Dullsworth runs a Club like his manages one then they are screwed.

 

[KingstonSeagull]

Dean used to live in the same village as me and eat in my Dad's pub.. That is all I have to add to this thread

 

[moggy]

Dean used to live in the same village as me and eat in my Dad's pub.. That is all I have to add to this thread

Who is your avatar and is that the Ipswich badge?
Also, what was on the menu in the pub and does it do good lunchtime specials?
All valid questions I believe

 

[8ace]

Not very clear is it. One would guess that the club has actually been "sold" for £1 and the £7.5m is cash they are putting in to pay debts / keep it running, but who knows?

I know the reason why companies are sold for £1 - what I want to know is if this £1 is ever actually exchanged