TOPIC: Bolton Wound up

Debts of £180Million ...................Radio 4 was speaking to fans this morning, one guy blaming the ground move for drop in gates as it`s "out of town" .......................well well be careful what you wish for people.

Fire sale of players on the cards....including the Goal Machine - could he do a job for us

They haven't been wound up (yet) but they damn well should be.

Suggest changing the topic title.

looking for a buyer yeah but have that debt and can`t pay their tax either so an HMRC job - Radio 4 did say "Bolton wanderers have been wound up with debts of £180 million"

They've been in the stadium since 1998, crowds have only started to fall in recent years so dont have a clue how he can blame the stadium, until the 2012/13 season they were still getting 20+thousand on average, and pike lane only held 20 thousand, so the guy whos blaming the stadium is talking a load d of crap

seesaw50 wrote:
They haven't been wound up. A winding up petition was presented previously by HMRC and an adjournment has been granted today giving them yet another chance to wriggle out of it.
They won't be wound up/liquidated until a such an order is granted, which can't happen until at least the back end of Feb now.

As above, jigger all to do with the stadium. Reckless spending beyond their means getting to/trying to stay in/scramble back to* the gold paved premiershit.

edit: www.bwfc.co.uk/news/article/club-statement-2908136.aspx

HMRC are trying to be a bit more hard line than they sometimes have in the past I suppose, they refused to agree to the adjournment this time, but the court has granted it. I would imagine that HMRC knew that would be the case anyway and that the High Court would refuse to wind the club up at this stage. Interestingly this is only a 5 week reprieve for Bolton and it is a hell of a lot for them to try to get sorted in that sort of time scale. I can certainly see the club going into administration, and then getting some sort of agreement in place, but perhaps not within 5 weeks. Big trouble for them in my opinion.

Was it not Gartside from Bolton who wanted to make the Premier League a closed shop?

Funny old game!

CCU wrote:
I think you're right, no worries about relegation then is there, the golden goose just keeps laying eggs for yer!

I think it's time that a club was sent to the wall as an example to the rest. Lets not forget, are we not still the only team to enter administration and pay off all of our creditors in full? Why should football clubs be any different to any other business when it comes to debts? especially when those debts are to the public purse!

Many in it as a business would love it be a closed shop. The Venkys never even knew you could get relegated from it.

It's about £2m to the taxman, and £180m to their old owner, who apparently will wipe the debt clean if new owners come in - new owners must have £14m to cover other debts and running costs. Also means if it does go to admin he gets the say in what happens so the taxman can whistle. Clubs are only in trouble if they owe their money to people who want it back.

Sure there were shenanigans at Portsmouth and Leeds were people inflated their claimed debts to get more leverage in the admin proceedings *cough* Ken Bates

orfc - Ken Bates was borderline criminal though. For a pre pack admin, you have to be able to demonstrate a percentage of the debt is owed to a single party (Bates) for that party to be able to buy it back so to speak.
There was a yellow post it note passed to the adminstrators in the creditors meeting saying the value of Leeds United Radio had been missed off when the percentages were getting too close to call. Rest is history.
So it was not only the small creditors who were robbed by the thieving tosser.
Bolton are a club who have had the soul ripped from them. A horrible club since Allardyce and Gartside ruined them.
HMRC can still object to the cva though, which stops Bolton getting an agreement to satisfy the football league and avoinding the second (15points in Leeds case) points penalty.
All managed of course at the football league by the man who tried to hoodwink the football league while at Leeds, one Postman Pat Shaun Harvey, who is the equivalent of Mr Agar.

Borderline??

seesaw50 wrote:
Attendances doubled when they moved to the new ground and have stayed around the same so the move hasn't done it! Just another owner spending cash after cash without a proper business plan!

Was being polite.

Oh he had a plan, it involved not getting relegated from the land of milk and honey, hence the attempt to stop the relegation from the premier

CarlisleWhite wrote:
How did Allardyce ruin them?

Unaffordable signings. Ocoha and co were on mega wages. Look back at the reports on the tinter. The losses started then.

CCU wrote:
Cough,Cough.

www.thecumbrians.net/index.php/forum/mai...ail-out-bolton#31228

Points deduction will happen.( easy way out). or better still make an example out of them by demoting them quite considerably!

Sent from my GT-I8200N using Tapatalk

CarlisleWhite wrote:
I still dont agree that was Allardyces fault it was the boards fault. Same as those who say Redknapp ruined Portsmouth. No he didnt the board who sanctioned all the signings and put the contracts together did.

Dancing - agree, did say Allardyce and Gartside.

Dancingbear's right about this, it isn't the manager's fault, because it isn't his job to decide the club's budgets, he will work within restraints, but if the board say he can have good players, he'll have them. There can't be any doubt about where the blame lies both with Portsmouth and now with Bolton, and the managers can't be blamed, in fact they did magnificent jobs in both cases.

He did leave because he believed there was a lack of ambition from those above remember.

He also got them 4 top 8 finishes in a row (including the season he left), a League Cup final, an FA Cup semi and into Europe for the first time. He got them into the Premier League and kept them there for 6 years. Since he left it has been a downward spiral for them in terms of football as well as money.

I'm not saying he didn't expect a lot from his chairman, and the board, and if part of his reason for leaving was that he felt the club didn't have his ambition, then he might finally have been told he was asking for too much. The trouble is they started to slide and didn't control things, they continued with big contracts for too long after their fall from grace. Allardyce left in the 2006/7 season, they've had time to get their house in order since then.

Maybe why Leicester aren't doing anything too heavy at the minute. You'd think blindly that getting a few top class players in now may seal them a CL place but the owners are possibly settled with their budget and won't break it.

I'd like to think so mate, I have a soft spot for Leicester actually. They seem to have done just about everything right since they were relegated to League 1 a few years back. Decent club with really nice fans, and it wouldn't do for them to end up in that sort of position.

Moorlad wrote:
One Club who never get mentioned when Administration is talked about. £30m was a lot back then...

news.bbc.co.uk/1/hi/business/2349397.stm

To be honest CCU, I'd forgotten all about that as well.

CCU wrote:
They do by me. Think I posted on here last week we should all want them to do well seeing as we all helped build them a new stadium.

We didn't though. The stadium got given back to the original money men (Yank retirement fund) when they went tits up with Leicester getting a long term lease while they paid the original (£28m) bond off. King Power have since bought the stadium outright.

Aye but they spent the money they should have been spending on the stadium on summat else that they then didnt repay so even though your right im still bitter that a bit of a plea by Lineker et al and everything was rosy.