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Bolton
Aug 27, 2019 16:48:29 GMT
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Post by Attentive Onlooker on Aug 27, 2019 16:48:29 GMT
Looks like Bury are gone then.
Been fairly obvious for years they were spending way beyond their means. Hard to understand how the EFL haven't picked up on it.
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Post by tetchyarse on Aug 27, 2019 17:05:54 GMT
Looks like them and Bury are fucked. 'Oh, I feel sorry for the supporters' etc you see people cry. All the comparisons with the PL money as well, Sanchez being paid £41m or something by Man Utd. I get where its coming from but its the wrong point - its the FA / EFL who are worse than useless at doing anything about the people who drive these clubs into crisis. After these 2 theres a load load more whove been pretty much raped by terrible owners, far worse than Edin, and nothing will change. Neither have spent within their means for years, but Bolton's issues do come from the Premier League and the relegation. But they've had £70m debt for years, it's just taking the piss. Not than Shaun Harvey, happy to lick the ring of any charlatan who pretends they have money, gives the tiniest of tiny fucks. We got away lightly with Rahic, that's for damn sure.
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Bolton
Aug 27, 2019 17:07:09 GMT
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Post by Neshead on Aug 27, 2019 17:07:09 GMT
Looks like Bury are gone then. Been fairly obvious for years they were spending way beyond their means. Hard to understand how the EFL haven't picked up on it. As soon as Stewart Day started spunking cash like it was growing on trees it was the beginning of the end. Same with Bolton, both clubs are looking for prospective buyers but both clubs are worth fuck all. The only reason Steven Dale took it for a quid was to rinse it of any last coppers down the back of the sofa. The EFL have washed their handa of this sort of owner behaviour for years hoping the batton would just pass to some other equally fraudulent owner or bat shit crazy daydreamer. Bolton and Bury are beyond help but they have now opened the floodgates. The demise of these two could see the face of football change forever as the Premiership swallows up the little fish like a Japanese Trawler.
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Post by tetchyarse on Aug 27, 2019 17:10:20 GMT
£20 says the Football League use this to try and force B teams on us.
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Post by jdc on Aug 27, 2019 20:04:58 GMT
Looks like Bury are gone then. Been fairly obvious for years they were spending way beyond their means. Hard to understand how the EFL haven't picked up on it. They're busy people! They don't have time to check whether incoming owners can afford to run a club, they have to tinker with the Checkatrade Trophy rules and make sure that AFC Wimbledon put the full name of their opponents in the programme.
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Bolton
Aug 27, 2019 22:46:30 GMT
Post by Hoochy on Aug 27, 2019 22:46:30 GMT
Bury buried. Bolton next perhaps then Cov.
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Bolton
Aug 28, 2019 6:06:57 GMT
Post by Hobhead on Aug 28, 2019 6:06:57 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc?
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Post by Lethal Jizzle on Aug 28, 2019 7:11:00 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? The whole reason they went bust was because of the debt on the ground. The chairman still owns it and guess what...It's prime development land
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Post by northernmonkey on Aug 28, 2019 7:17:04 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? The whole reason they went bust was because of the debt on the ground. The chairman still owns it and guess what...It's prime development land Quelle surprise! Prime real estate purchased for the bargain basement value of one English pound. Bury have been absolutely done up like a kipper.
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Bolton
Aug 28, 2019 7:24:46 GMT
via mobile
Post by tetchyarse on Aug 28, 2019 7:24:46 GMT
Always the story, I'm guessing the ground ownership was removed from the club first.
It's what the slimy theme park owner tried to do to us, until he realised that nobody wants a luxury apartment in Manningham.
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Bolton
Aug 28, 2019 7:36:15 GMT
Post by Hobhead on Aug 28, 2019 7:36:15 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? The whole reason they went bust was because of the debt on the ground. The chairman still owns it and guess what...It's prime development land Do the assets not get taken by the administrator in the event of bankruptcy or has he hived it off from Bury the business somehow? Assuming they’re insolvent. Could the council declare it some sort of site of community interest to prevent him bulldozing it? If it’s this easy then there’ll be unscrupulous twats hovering around clubs flirting with bankruptcy to pick up cheap land left, right and centre.
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stevayb
Hot Water Tank Bantam
Posts: 350
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Bolton
Aug 28, 2019 8:00:05 GMT
via mobile
Post by stevayb on Aug 28, 2019 8:00:05 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? Being expelled they'll likely now be liquidated and a phoenix club will need to apply to tier 8 or 9 of English football. Previous situations have had them apply at tier 8 (like Halifax did) but if the leagues are feeling like cunts they can make them drop further. I'm more interested in what the situation will be for league 1,if Bolton go too that's 2 teams gone early in the season - how does that fit for relegation/promotion? Will there be an extra 2 spaces up for grabs from league 2? (not that City will be anywhere near if we insist on 433)
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Post by rahicscissorbudget on Aug 28, 2019 8:05:36 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? Being expelled they'll likely now be liquidated and a phoenix club will need to apply to tier 8 or 9 of English football. Previous situations have had them apply at tier 8 (like Halifax did) but if the leagues are feeling like cunts they can make them drop further. I'm more interested in what the situation will be for league 1,if Bolton go too that's 2 teams gone early in the season - how does that fit for relegation/promotion? Will there be an extra 2 spaces up for grabs from league 2? (not that City will be anywhere near if we insist on 433) League tables showing three relegation spots, so presumably three down from L1 and four up from L2 and so on until you get to where Bury start from.
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Bolton
Aug 28, 2019 8:45:24 GMT
via mobile
Post by Lethal Jizzle on Aug 28, 2019 8:45:24 GMT
How does this work for Bury now? How far down the pyramid are they expelled from? Has the club been liquidated or just expelled? If expelled do they now literally have to start ringing leagues they can still play in asking to be let in for next season? Do they have a ground or does that belong to the Chairman/administrators? Is this a case of starting from scratch with a slightly altered name like Bournemouth and Wimbledon etc? Being expelled they'll likely now be liquidated and a phoenix club will need to apply to tier 8 or 9 of English football. Previous situations have had them apply at tier 8 (like Halifax did) but if the leagues are feeling like cunts they can make them drop further. I'm more interested in what the situation will be for league 1,if Bolton go too that's 2 teams gone early in the season - how does that fit for relegation/promotion? Will there be an extra 2 spaces up for grabs from league 2? (not that City will be anywhere near if we insist on 433) They will reduce the relegation to l2 and up the promotions from non league this creating the spare spaces at the bottom for bury and possibly bolton
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Post by Dennis on Aug 28, 2019 8:47:06 GMT
The whole reason they went bust was because of the debt on the ground. The chairman still owns it and guess what...It's prime development land Do the assets not get taken by the administrator in the event of bankruptcy or has he hived it off from Bury the business somehow? Assuming they’re insolvent. Could the council declare it some sort of site of community interest to prevent him bulldozing it? If it’s this easy then there’ll be unscrupulous twats hovering around clubs flirting with bankruptcy to pick up cheap land left, right and centre. I'm expecting Bury to be placed in administration very quickly now (if it hasn't already happened) and for the club to be liquidated. The liquidator effectively takes ownership of the club's assets which includes Gigg Lane. Some assets eg a pub and restaurant and some trophies and stuff have previously been transferred to a couple of Dale-owned companies and whether they become part of the liquidation 'fire sale' will be for the liquidator to determine. Despite what some believe, Gigg Lane hasn't been transferred to Dale's ownership. He said he was going to do this but never did. It's all complicated because of loans made to the club by the previous owner (Day) to fund last season'e promotion push. He made the loans via a couple of his own companies (one of the original loans made interest at 10% PER MONTH!) which have now gone bust (ironically involving the building of student accommodation in Bradford) and the liquidator for them is now seeking to get the loans repaid by the soon to be liquidated Bury! The loans to the club were secured on Gigg Lane which I suspect is what prevented Dale from transferring the ground to one of his companies. It's a fucking mess. And the only glimmer of light for the club or its fans is that somebody had the sense to register Gigg Lane as a community asset many months ago. This doesn't stop it from ultimately being sold off and redeveloped but it does slow down the process giving others a chance to buy it and keep it as a footie ground.
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Bolton
Aug 28, 2019 9:03:54 GMT
via mobile
Post by Lethal Jizzle on Aug 28, 2019 9:03:54 GMT
Do the assets not get taken by the administrator in the event of bankruptcy or has he hived it off from Bury the business somehow? Assuming they’re insolvent. Could the council declare it some sort of site of community interest to prevent him bulldozing it? If it’s this easy then there’ll be unscrupulous twats hovering around clubs flirting with bankruptcy to pick up cheap land left, right and centre. I'm expecting Bury to be placed in administration very quickly now (if it hasn't already happened) and for the club to be liquidated. The liquidator effectively takes ownership of the club's assets which includes Gigg Lane. Some assets eg a pub and restaurant and some trophies and stuff have previously been transferred to a couple of Dale-owned companies and whether they become part of the liquidation 'fire sale' will be for the liquidator to determine. Despite what some believe, Gigg Lane hasn't been transferred to Dale's ownership. He said he was going to do this but never did. It's all complicated because of loans made to the club by the previous owner (Day) to fund last season'e promotion push. He made the loans via a couple of his own companies (one of the original loans made interest at 10% PER MONTH!) which have now gone bust (ironically involving the building of student accommodation in Bradford) and the liquidator for them is now seeking to get the loans repaid by the soon to be liquidated Bury! The loans to the club were secured on Gigg Lane which I suspect is what prevented Dale from transferring the ground to one of his companies. It's a fucking mess. And the only glimmer of light for the club or its fans is that somebody had the sense to register Gigg Lane as a community asset many months ago. This doesn't stop it from ultimately being sold off and redeveloped but it does slow down the process giving others a chance to buy it and keep it as a footie ground. Just seen Accy chairman saying the ground is now owned by a finance company
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Bolton
Aug 28, 2019 9:32:36 GMT
via mobile
Post by rahicscissorbudget on Aug 28, 2019 9:32:36 GMT
Do the assets not get taken by the administrator in the event of bankruptcy or has he hived it off from Bury the business somehow? Assuming they’re insolvent. Could the council declare it some sort of site of community interest to prevent him bulldozing it? If it’s this easy then there’ll be unscrupulous twats hovering around clubs flirting with bankruptcy to pick up cheap land left, right and centre. I'm expecting Bury to be placed in administration very quickly now (if it hasn't already happened) and for the club to be liquidated. The liquidator effectively takes ownership of the club's assets which includes Gigg Lane. Some assets eg a pub and restaurant and some trophies and stuff have previously been transferred to a couple of Dale-owned companies and whether they become part of the liquidation 'fire sale' will be for the liquidator to determine. Despite what some believe, Gigg Lane hasn't been transferred to Dale's ownership. He said he was going to do this but never did. It's all complicated because of loans made to the club by the previous owner (Day) to fund last season'e promotion push. He made the loans via a couple of his own companies (one of the original loans made interest at 10% PER MONTH!) which have now gone bust (ironically involving the building of student accommodation in Bradford) and the liquidator for them is now seeking to get the loans repaid by the soon to be liquidated Bury! The loans to the club were secured on Gigg Lane which I suspect is what prevented Dale from transferring the ground to one of his companies. It's a fucking mess. And the only glimmer of light for the club or its fans is that somebody had the sense to register Gigg Lane as a community asset many months ago. This doesn't stop it from ultimately being sold off and redeveloped but it does slow down the process giving others a chance to buy it and keep it as a footie ground. When you say ‘somebody had the sense’ do you mean someone not involved with the company? I don’t know much about the process but if it was just a regular John it seems like that would be a sensible step for any fan of a club who doesn’t have shitty out of town ground to take, even if they’re currently in the good times.
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Bolton
Aug 28, 2019 9:51:52 GMT
Post by Dennis on Aug 28, 2019 9:51:52 GMT
I'm expecting Bury to be placed in administration very quickly now (if it hasn't already happened) and for the club to be liquidated. The liquidator effectively takes ownership of the club's assets which includes Gigg Lane. Some assets eg a pub and restaurant and some trophies and stuff have previously been transferred to a couple of Dale-owned companies and whether they become part of the liquidation 'fire sale' will be for the liquidator to determine. Despite what some believe, Gigg Lane hasn't been transferred to Dale's ownership. He said he was going to do this but never did. It's all complicated because of loans made to the club by the previous owner (Day) to fund last season'e promotion push. He made the loans via a couple of his own companies (one of the original loans made interest at 10% PER MONTH!) which have now gone bust (ironically involving the building of student accommodation in Bradford) and the liquidator for them is now seeking to get the loans repaid by the soon to be liquidated Bury! The loans to the club were secured on Gigg Lane which I suspect is what prevented Dale from transferring the ground to one of his companies. It's a fucking mess. And the only glimmer of light for the club or its fans is that somebody had the sense to register Gigg Lane as a community asset many months ago. This doesn't stop it from ultimately being sold off and redeveloped but it does slow down the process giving others a chance to buy it and keep it as a footie ground. When you say ‘somebody had the sense’ do you mean someone not involved with the company? I don’t know much about the process but if it was just a regular John it seems like that would be a sensible step for any fan of a club who doesn’t have shitty out of town ground to take, even if they’re currently in the good times. I doubt it would be somebody involved in the ownershipof the club since it would limit whatever they had planned. Also, it couldn't have been a single fan or small group acting together. My guess is that it was a suppporters body because it takes a lot of effort (which isn't insurmountable) and there are restrictions on what constitutes a 'community group' for making the application. There was a suggestion that either the Trust or the Supporters Board would do something similar for VP but nothing came of that. I guess that's because of the VP lease which I'm told is pretty watertight. Edit - It was Bury Supporters Trust which had Gigg Lane categorised as a community asset ...and it was way back in 2014!
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Bolton
Aug 28, 2019 9:58:23 GMT
Post by Dennis on Aug 28, 2019 9:58:23 GMT
I'm expecting Bury to be placed in administration very quickly now (if it hasn't already happened) and for the club to be liquidated. The liquidator effectively takes ownership of the club's assets which includes Gigg Lane. Some assets eg a pub and restaurant and some trophies and stuff have previously been transferred to a couple of Dale-owned companies and whether they become part of the liquidation 'fire sale' will be for the liquidator to determine. Despite what some believe, Gigg Lane hasn't been transferred to Dale's ownership. He said he was going to do this but never did. It's all complicated because of loans made to the club by the previous owner (Day) to fund last season'e promotion push. He made the loans via a couple of his own companies (one of the original loans made interest at 10% PER MONTH!) which have now gone bust (ironically involving the building of student accommodation in Bradford) and the liquidator for them is now seeking to get the loans repaid by the soon to be liquidated Bury! The loans to the club were secured on Gigg Lane which I suspect is what prevented Dale from transferring the ground to one of his companies. It's a fucking mess. And the only glimmer of light for the club or its fans is that somebody had the sense to register Gigg Lane as a community asset many months ago. This doesn't stop it from ultimately being sold off and redeveloped but it does slow down the process giving others a chance to buy it and keep it as a footie ground. Just seen Accy chairman saying the ground is now owned by a finance company According to Companies House, he is mistaken. A firm called Capital Bridging Finance (owned by the previous Bury chairman) certainly has a charge on the ground which means that they have loaned the club some money in the past and the club used Gigg Lane as security. But it doesn't mean that CBF owns it. Just to complete the picture, CBF then mortgaged the charge to a Malta based company, the ownership of which isn't obvious but I'd hazrd a guess who it is! But that still doesn't change the ownership of Gigg Lane.
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Bolton
Aug 28, 2019 10:09:11 GMT
via mobile
Dennis likes this
Post by Dick on Aug 28, 2019 10:09:11 GMT
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