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Heard a rumour at the weekend - Bolton about to go into Administration

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  • bigstemarra
    bigstemarra Posts: 5,098
    Wouldn't surprise me at all - I heard they were teetering on the brink more than a year ago, but it's the 'friendly' debt thing that muddies the waters.
  • ross1
    ross1 Posts: 50,974
    GlassHalfFull said:


    QPR's owners have written off £180 million.

    What ever happened to their fine?
  • ross1
    ross1 Posts: 50,974
    IA said:

    se9addick said:

    What on earth did they spend the money on ?

    I'm sure they enjoyed their European adventures. I think they were relegated with debt around £100m. From my memory, they had a couple of very good years, then decided that was their 'level' so spent big to try to get back up there.

    Phil Gartside's insistence that relegation from the Premier League be stopped while they were hovering around 15th was a giveaway.
    I believe it was Garside who tried to persuade the other Premier league chairmen to vote on NO relegation from the premier league? Now we see why.
  • GlassHalfFull
    GlassHalfFull Posts: 2,351
    ross1 said:

    GlassHalfFull said:


    QPR's owners have written off £180 million.

    What ever happened to their fine?
    QPR have a posse of lawyers busy with the negotiations - the original 60 mil becomes 8 mil and maybe even less, they hope.
  • Henry Irving
    Henry Irving Posts: 85,225
    Middlesbrough owner Steve Gibson said to have sunk £100m into them. For to be a point where he says no more if they don't go up.
  • Simonsen
    Simonsen Posts: 5,503
    Henry Irving said:

    Middlesbrough owner Steve Gibson said to have sunk £100m into them. For to be a point where he says no more if they don't go up.

    £100m...is that all? Tight bastard....
  • InspectorSands
    InspectorSands Posts: 5,188
    Bolton have confirmed Phil Gartside is "seriously ill" - http://www.bbc.co.uk/sport/0/football/34797932
  • tangoflash
    tangoflash Posts: 10,784
    InspectorSands said:

    Bolton have confirmed Phil Gartside is "seriously ill" - http://www.bbc.co.uk/sport/0/football/34797932

    Probably sick of wasting his money............
  • SDAddick
    SDAddick Posts: 14,467
    I feel like this lies at the precipice of some of the hypocrisy within English football. On the one hand, we say "football isn't a business," and supporters are quick to point out when owners/stakeholders do not invest (see, here). On the other hand, we chortle at the demise of clubs who are having their debts "called in." Bolton are by no means alone, and even if FL/European FFP laws fail now, the business model with which so many clubs are run is simply unsustainable. This is a bubble, and like all bubbles, it will burst, no matter how high the TV revenue is.
  • smudge7946
    smudge7946 Posts: 4,131
    What is the definition of friendly debt?
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  • TelMc32
    TelMc32 Posts: 9,055
    smudge7946 said:

    What is the definition of friendly debt?

    Basically where you have a benevolent owner/owners, who aren't going to call the debt in like a bank would or who wouldn't have let it get to this level at all.
  • ForeverAddickted
    ForeverAddickted Posts: 94,319
    Surprised he still isn't trying to create the Premier League (2)
  • The Red Robin
    The Red Robin Posts: 26,127
    'Former Bolton Wanderers striker Dean Holdsworth and boxer Amir Khan are set to complete a £15m takeover of the Trotters this week.' BBC via The Star.
  • bobmunro
    bobmunro Posts: 20,846
    edited November 2015
    tangoflash said:

    InspectorSands said:

    Bolton have confirmed Phil Gartside is "seriously ill" - http://www.bbc.co.uk/sport/0/football/34797932

    Probably sick of wasting his money............
    It's not his money - Eddie Davies is the owner and the biggest creditor although he will write-off the debt as part of any takeover.

    Gartside was/is the stumbling block to any takeover - he said he wouldn't go and the potential new owners said he had to go.
  • nth_london_addick
    nth_london_addick Posts: 35,919
    Still haven't gone into administration though have they and nor will they
  • rananegra
    rananegra Posts: 3,689
    I asked my Bolton-supporting mate about this the other night. He didn't reckon they were going into admin and the rumours of a takeover are flying around. He still thought they were ****ed and would break the habit of bottom 3 teams coming to The Valley and picking up points next month. I reassured him that the Addicks are always charitable to hopeless cases.
  • guinnessaddick
    guinnessaddick Posts: 28,633
    Boxer Amir Khan and former footballer Dean Holdsworth will complete a £15million takeover of Bolton Wanderers this week, according to reports.

    Khan is a famous fan of the Trotters, while Holdsworth netted 39 goals in 158 appearances for the club during his six-year stint between 1997 and 2003.
  • smudge7946
    smudge7946 Posts: 4,131
    TelMc32 said:

    smudge7946 said:

    What is the definition of friendly debt?

    Basically where you have a benevolent owner/owners, who aren't going to call the debt in like a bank would or who wouldn't have let it get to this level at all.
    That sounds more like a business plan for wonga.
    A friendly debt would be the debt you owe your mum fir squeezing you out into This world.
  • happyvalley
    happyvalley Posts: 8,996
    The Red Robin said:

    'Former Bolton Wanderers striker Dean Holdsworth and boxer Amir Khan are set to complete a £15m takeover of the Trotters this week.' BBC via The Star.

    It's about time Only Fools and Horses came back.
  • TelMc32
    TelMc32 Posts: 9,055
    smudge7946 said:

    TelMc32 said:

    smudge7946 said:

    What is the definition of friendly debt?

    Basically where you have a benevolent owner/owners, who aren't going to call the debt in like a bank would or who wouldn't have let it get to this level at all.
    That sounds more like a business plan for wonga.
    A friendly debt would be the debt you owe your mum fir squeezing you out into This world.
    Well Eddie Davies has been squeezing out the Trotters for a few years now!!! :smiley:
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  • Henry Irving
    Henry Irving Posts: 85,225
    colin1961 said:

    Lennon quoted today saying the club have run out of money and the future looking bleak ...

    Harry shouldn't really speak about Gillingham like that
  • lancashire lad
    lancashire lad Posts: 15,626
    our local news is reporting that the owner who is owed £185m is willing to write it off to help sell the club. At here are two groups looking to buy and both involve ex players
  • Covered End
    Covered End Posts: 52,008
    http://www.bbc.co.uk/sport/0/football/34908977
  • Six-a-bag-of-nuts
    Six-a-bag-of-nuts Posts: 8,127
    lancashire lad said:

    our local news is reporting that the owner who is owed £185m is willing to write it off to help sell the club. At here are two groups looking to buy and both involve ex players

    Imagine being able to write-off £185m
  • RedChaser
    RedChaser Posts: 19,885
    Six-a-bag-of-nuts said:

    lancashire lad said:

    our local news is reporting that the owner who is owed £185m is willing to write it off to help sell the club. At here are two groups looking to buy and both involve ex players

    Imagine being able to write-off £185m
    Roland's got a long way to go yet then :open_mouth:
  • ColinTat
    ColinTat Posts: 2,794
    They were getting on to 100 million in debt in the prem. I've no sympathy for the club, Allardyce paying wages that top ten in the world teams paid Okocha et al..... Feel sorry for the fans but if clubs were run anywhere near reality we'd still be in the prem.
  • ElfsborgAddick
    ElfsborgAddick Posts: 29,042
    ColinTat said:

    They were getting on to 100 million in debt in the prem. I've no sympathy for the club, Allardyce paying wages that top ten in the world teams paid Okocha et al..... Feel sorry for the fans but if clubs were run anywhere near reality we'd still be in the prem.

    Perhaps Duchatelet is not so bad after all...........
  • theeenorth
    theeenorth Posts: 2,278
    Work with few Trotters, Holdsworth consortium considered a bad joke. However all agree doomed.
  • Cardinal Sin
    Cardinal Sin Posts: 5,233
    Billy Manuel (Brentford +) used to play football with us on Blackheath on Monday nights (he was very good) and he loved a game of cards in the Rose of Denmark with us too. He brought Dean Holdsworth down one evening to join in the card school. Holds worth was hugely overdressed (as you can imagine) and looked well out of place but we welcomed him to the table and all pretended not to know who he was. At the time we had a game (can't remember the name) whereby, as a break from cards, someone would start by turning to the person on their left and touching their face with both hands in a certain way e.g.. squeezing both ears and drawing one imaginary stripe after another across their cheeks. The person who had just had their face 'drawn' on would then turn and repeat the same movements to the next person with the same hands and so on. If anyone failed to repeat the same movements in sequence they had to gulp half a pint down. The novice to the game wouldn't realise that the person sitting in front of them would be rubbing their fingers in cigarette ash and effectively blackening the novices face. Every time the game broke down, the new starter would look at the clean patches on the novices face in order to decide the next move. It might sound long-winded but it was hilarious and the concentrating novice would assume the hilarity was because of the defaulters having to down plenty of beer. Dean left a couple of hours later none the wiser to head off 'to a club." He came roaring back into the pub to clean his face, swearing loudly - he saw the funny side of it.

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