Bolton Wanderers to become private limited company

The Bolton News: Bolton Wanderers’ Reebok Stadium headquarters Bolton Wanderers’ Reebok Stadium headquarters

BOSSES of Bolton Wanderers want to make the club a private limited company.

A debate will take place at Wanderers’ AGM at the Reebok Stadium tomorrow with the club’s 6,000 minority shareholders set to lose their right to retain a stake in the club if the vote is passed.

The club’s holding company Burnden Leisure PLC (Public Limited Company) will become Burnden Leisure Ltd if the proposal is approved.

The Bolton News: Bolton Wanderers' majority shareholder Eddie Davies

Accounts would still be available to the public from Companies House, for a fee but the level of detail disclosed, such as details outlining where various sources of income come from, can be significantly lower if a company is not listed.

Burnden Leisure is currently a public limited company, although majority shareholder Eddie Davies controls 94.5 per cent of shares in the company.

At the end of last month, Burnden Leisure PLC revealed in its latest accounts that its debts have now risen to £163.8 million.

About £150 million of that is owed to another of Mr Davies’ firms, Moonshift Investments Limited, a private firm which has made six sizeable loans to Burnden Leisure.

These have been converted into a single ten-year repayment plan.

Burnden Leisure was first listed on the Alternative Investment Stock market in 1997 when the club moved to the Reebok Stadium, but it was delisted in 2003 when Mr Davies became majority shareholder.

This meant shares in the club were no longer traded and about 6,000 shareholders — each with less than a 0.1 per cent stake — were left with holdings they could only trade privately. Howard Parker, an existing shareholder, said: “I think I will go along to the AGM to see what’s happening.

“Effectively our shares are now worthless but it will be interesting to see how Eddie Davies intends to compensate us.”

Mark Worsley, from accountants CLB Coopers chartered accounts, said: “The benefits from a company changing from being floated on the stock market and being private are obvious, as the firm clearly becomes a lot easier to control.

“One change is that private firms publish their accounts nine months after the year-end date of June 30, rather than six, so a football club in this position would publish accounts at the end of March rather than December.

“But I can’t see what benefits this would have to Wanderers.

“There are some administrative costs attached to being a PLC but we are only talking about a few thousand pounds.


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“There can be less disclosure in accounts for private firms but the club may opt to publish their accounts as normal anyway.”

Wanderers confirmed the change would be voted on by shareholders at the AGM. Chairman Phil Gartside declined to comment before the meeting.

A club spokesman said: “The issue will remain between shareholders and the club until after the AGM.”

Comments (33)

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7:37am Thu 23 Jan 14

shadowfax says...

I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND
I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND shadowfax
  • Score: 34

8:42am Thu 23 Jan 14

The Squire In Residence says...

You really couldn't script it any better...Wanderers Shaft Their Supporters Once Again...
You really couldn't script it any better...Wanderers Shaft Their Supporters Once Again... The Squire In Residence
  • Score: 56

8:50am Thu 23 Jan 14

The Righteous One says...

shadowfax wrote:
I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND
How is this Gartside's fault?

Firstly it is Eddie Davies who owns the company and if it does goes into private Limited Company (aka Ltd instead of PLC) Eddie Davies will still own it. Gartside will lose his shares in the company as well!!!!
[quote][p][bold]shadowfax[/bold] wrote: I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND[/p][/quote]How is this Gartside's fault? Firstly it is Eddie Davies who owns the company and if it does goes into private Limited Company (aka Ltd instead of PLC) Eddie Davies will still own it. Gartside will lose his shares in the company as well!!!! The Righteous One
  • Score: -6

9:00am Thu 23 Jan 14

The Squire In Residence says...

Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket.

Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down.
Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket. Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down. The Squire In Residence
  • Score: 47

9:08am Thu 23 Jan 14

Jim271 says...

The bubble has burst, the money is drying up.

Footballers on £100k a week paying 10% tax whilst we have people visiting foodbanks

panem et circenses
The bubble has burst, the money is drying up. Footballers on £100k a week paying 10% tax whilst we have people visiting foodbanks panem et circenses Jim271
  • Score: 6

9:09am Thu 23 Jan 14

DouglasMills says...

The Squire In Residence wrote:
Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket.

Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down.
So who was in charge when the club was "on a high, not too many years ago"?
[quote][p][bold]The Squire In Residence[/bold] wrote: Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket. Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down.[/p][/quote]So who was in charge when the club was "on a high, not too many years ago"? DouglasMills
  • Score: -3

9:21am Thu 23 Jan 14

The Squire In Residence says...

At the start it was, largely, the same board. But who began, manufactured and prolongs the misery of the fans - Gartside. I take it DM that you exonerate him from any blame - who appointed Megson saying that 'those who know about football will understand the appointment'? Who sanctions the wage structure?
At the start it was, largely, the same board. But who began, manufactured and prolongs the misery of the fans - Gartside. I take it DM that you exonerate him from any blame - who appointed Megson saying that 'those who know about football will understand the appointment'? Who sanctions the wage structure? The Squire In Residence
  • Score: 22

9:40am Thu 23 Jan 14

shadowfax says...

The Righteous One wrote:
shadowfax wrote:
I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND
How is this Gartside's fault?

Firstly it is Eddie Davies who owns the company and if it does goes into private Limited Company (aka Ltd instead of PLC) Eddie Davies will still own it. Gartside will lose his shares in the company as well!!!!
DAVIES...BY HIS OWN VOLITION IS JUST THE MONEY....THE DAY TO DAY RUNNING OF THE CLUB IS TOTALLY DOWN TO THE CLOWN GARTSIDE AND HIS CRONIES..WHO WITH POOR APPOINTMENTS...INEPT BUSINESS JUDGEMENTS...AS FOR LOSING HIS SHARES...HE AND HIS HANGERS ON HAVE BLED THE CLUB DRY FOR YEARS SO THAT WOULD BE A SLIGHT LOSS
THE WHOLE SHOWER SHOULD BE THOROUGHLY INVESTIGATED BY THE POWERS THAT BE.......SMACKS OF THE RANGERS FIASCO
THE PEOPLE WHO END UP PAYING ARE THE TRUE LOYAL FANS...
I WOULD SAY TO DAVIES....GARTSIDE ETC....DO THE HONOURABLE THING....AND LEAVE......BUT HONOUR IS NOT IN YOUR VOCABULARY
TO SUM UP IN ONE WORD...........DISGR
ACE
[quote][p][bold]The Righteous One[/bold] wrote: [quote][p][bold]shadowfax[/bold] wrote: I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND[/p][/quote]How is this Gartside's fault? Firstly it is Eddie Davies who owns the company and if it does goes into private Limited Company (aka Ltd instead of PLC) Eddie Davies will still own it. Gartside will lose his shares in the company as well!!!![/p][/quote]DAVIES...BY HIS OWN VOLITION IS JUST THE MONEY....THE DAY TO DAY RUNNING OF THE CLUB IS TOTALLY DOWN TO THE CLOWN GARTSIDE AND HIS CRONIES..WHO WITH POOR APPOINTMENTS...INEPT BUSINESS JUDGEMENTS...AS FOR LOSING HIS SHARES...HE AND HIS HANGERS ON HAVE BLED THE CLUB DRY FOR YEARS SO THAT WOULD BE A SLIGHT LOSS THE WHOLE SHOWER SHOULD BE THOROUGHLY INVESTIGATED BY THE POWERS THAT BE.......SMACKS OF THE RANGERS FIASCO THE PEOPLE WHO END UP PAYING ARE THE TRUE LOYAL FANS... I WOULD SAY TO DAVIES....GARTSIDE ETC....DO THE HONOURABLE THING....AND LEAVE......BUT HONOUR IS NOT IN YOUR VOCABULARY TO SUM UP IN ONE WORD...........DISGR ACE shadowfax
  • Score: 7

9:49am Thu 23 Jan 14

wagstaff says...

DouglasMills wrote:
The Squire In Residence wrote:
Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket.

Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down.
So who was in charge when the club was "on a high, not too many years ago"?
"FACT" Gartside is a parasite, of the lowest order, even a leach will let go when all the blood has been drained, didn't the same thing happen to shareholders when Eddie Davies took control.
[quote][p][bold]DouglasMills[/bold] wrote: [quote][p][bold]The Squire In Residence[/bold] wrote: Gartside et al have taken enough from the club over the years to forego a, relatively, small hit in the pocket. Please do not defend the idiot (Gartside) who bemoans the fact that we still have high earners on the books when he himself sanctions the very wages they are on. Collectively they, the board, have run a club that was on a high not too many years ago, into the ground. Sadly it WILL only get better when a new board is appointed. Poor selection of managerial positions and inept accounting are only two examples of how the board have let us all down.[/p][/quote]So who was in charge when the club was "on a high, not too many years ago"?[/p][/quote]"FACT" Gartside is a parasite, of the lowest order, even a leach will let go when all the blood has been drained, didn't the same thing happen to shareholders when Eddie Davies took control. wagstaff
  • Score: 17

10:03am Thu 23 Jan 14

stereo_world says...

shadowfax wrote:
I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND
Dude.. your opinion would still be seen if you used lowercase letters sometimes.
[quote][p][bold]shadowfax[/bold] wrote: I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND[/p][/quote]Dude.. your opinion would still be seen if you used lowercase letters sometimes. stereo_world
  • Score: 8

10:16am Thu 23 Jan 14

shadowfax says...

stereo_world wrote:
shadowfax wrote:
I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND
Dude.. your opinion would still be seen if you used lowercase letters sometimes.
PARTIALLY SIGHTED......CONTENT OF WHAT IS WRITTEN MORE IMPORTANT THAN STYLE...OR EVEN CORRECT SYNTAX
[quote][p][bold]stereo_world[/bold] wrote: [quote][p][bold]shadowfax[/bold] wrote: I SMELL A RAT....YET MORE SHADY DEALINGS OF THE BUFFOON GARTSIDE AND HIS BAND OF BUMBLING IDIOTS....HOPEFULLY A SIGN OF THE CLUB BEING SOLD TO SOMEONE WHO KNOWS WHAT THEY ARE DOING......AND CLEAR OUT THE ABOVE....WHO HAVE RUN THE CLUB INTO THE GROUND[/p][/quote]Dude.. your opinion would still be seen if you used lowercase letters sometimes.[/p][/quote]PARTIALLY SIGHTED......CONTENT OF WHAT IS WRITTEN MORE IMPORTANT THAN STYLE...OR EVEN CORRECT SYNTAX shadowfax
  • Score: -5

10:23am Thu 23 Jan 14

Brumas says...

Who at the Wanderers is the “Bellwether”? Why all the interest in something that has nothing to do with Bolton, not even the stadium in which they play is technically in Bolton. The Wanderers are first and foremost a business nothing like when home grown Bolton lads played for them.
Football followers would be better off going down to a local park on a Saturday Afternoon to watch a local team, who you know will put their all into the game.
Who at the Wanderers is the “Bellwether”? Why all the interest in something that has nothing to do with Bolton, not even the stadium in which they play is technically in Bolton. The Wanderers are first and foremost a business nothing like when home grown Bolton lads played for them. Football followers would be better off going down to a local park on a Saturday Afternoon to watch a local team, who you know will put their all into the game. Brumas
  • Score: 6

10:36am Thu 23 Jan 14

duffbikes says...

Gartside must be a happy man, after all it's only a few weeks ago, (when he must have known what was coming) that he stated that he wasn't losing any sleep over the enormous debt accrued!
Gartside must be a happy man, after all it's only a few weeks ago, (when he must have known what was coming) that he stated that he wasn't losing any sleep over the enormous debt accrued! duffbikes
  • Score: 5

11:42am Thu 23 Jan 14

MrBenggo says...

Could some one please tell me the following.
As I understand it,if a firm was trading whilst insolvent the directors are committing an offence,so why are football clubs allowed to continue whilst trading at a loss.
Why at Bolton and other football clubs,are there no wage cuts,and redundancies.
A factory employing hundreds would have gone to the wall,long ago if it was in debt to the tune of over £163million,why not football clubs.
Could some one please tell me the following. As I understand it,if a firm was trading whilst insolvent the directors are committing an offence,so why are football clubs allowed to continue whilst trading at a loss. Why at Bolton and other football clubs,are there no wage cuts,and redundancies. A factory employing hundreds would have gone to the wall,long ago if it was in debt to the tune of over £163million,why not football clubs. MrBenggo
  • Score: 2

12:17pm Thu 23 Jan 14

Balboa says...

Mr Davies has poured millions in to the club, and is entitled to take it private if he wishes. It is a prudent move as to have public scrutiny concerning £163m "debt" does not help Wanderers in their recruitment plans - the quieter the better as far as I am concerned.

Onwards and Upwards (one day)
Mr Davies has poured millions in to the club, and is entitled to take it private if he wishes. It is a prudent move as to have public scrutiny concerning £163m "debt" does not help Wanderers in their recruitment plans - the quieter the better as far as I am concerned. Onwards and Upwards (one day) Balboa
  • Score: 8

12:38pm Thu 23 Jan 14

The Righteous One says...

MrBenggo wrote:
Could some one please tell me the following.
As I understand it,if a firm was trading whilst insolvent the directors are committing an offence,so why are football clubs allowed to continue whilst trading at a loss.
Why at Bolton and other football clubs,are there no wage cuts,and redundancies.
A factory employing hundreds would have gone to the wall,long ago if it was in debt to the tune of over £163million,why not football clubs.
Because of the value of the security the company possess

Also, £150 million is towards a debt through Eddie's own off-shore company - therefore it is his own money and not teh clubs! Only £8-10 million is owed to the Banks - therefore the club (in a financial world) is still viable and nowhere near ruin.

Also if the club is taken down the rpivate route the £150million to Moonshift becomes a "personal" debt the making the club free from any constraints of the further FFP rules that will be coming in.
[quote][p][bold]MrBenggo[/bold] wrote: Could some one please tell me the following. As I understand it,if a firm was trading whilst insolvent the directors are committing an offence,so why are football clubs allowed to continue whilst trading at a loss. Why at Bolton and other football clubs,are there no wage cuts,and redundancies. A factory employing hundreds would have gone to the wall,long ago if it was in debt to the tune of over £163million,why not football clubs.[/p][/quote]Because of the value of the security the company possess Also, £150 million is towards a debt through Eddie's own off-shore company - therefore it is his own money and not teh clubs! Only £8-10 million is owed to the Banks - therefore the club (in a financial world) is still viable and nowhere near ruin. Also if the club is taken down the rpivate route the £150million to Moonshift becomes a "personal" debt the making the club free from any constraints of the further FFP rules that will be coming in. The Righteous One
  • Score: 5

1:07pm Thu 23 Jan 14

MrBenggo says...

The Righteous One.
Thank you for that.You are more knowledgeable than me in this matter.
The Righteous One. Thank you for that.You are more knowledgeable than me in this matter. MrBenggo
  • Score: 0

2:29pm Thu 23 Jan 14

Beyond News Forum says...

Is it that Gartside will lose his shares?

Well if so via this dealing then isn't this a step to easily removing Gartside's standing at the club?
Is it that Gartside will lose his shares? Well if so via this dealing then isn't this a step to easily removing Gartside's standing at the club? Beyond News Forum
  • Score: 0

4:35pm Thu 23 Jan 14

The Righteous One says...

Beyond News Forum wrote:
Is it that Gartside will lose his shares?

Well if so via this dealing then isn't this a step to easily removing Gartside's standing at the club?
YEP!!! So in a way it does sound good - compared to the doom mongerers above who don't realise it!
[quote][p][bold]Beyond News Forum[/bold] wrote: Is it that Gartside will lose his shares? Well if so via this dealing then isn't this a step to easily removing Gartside's standing at the club?[/p][/quote]YEP!!! So in a way it does sound good - compared to the doom mongerers above who don't realise it! The Righteous One
  • Score: -2

6:33pm Thu 23 Jan 14

The Squire In Residence says...

Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless.
Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful.
They should be aware that, unfortunately, the only way is down!
How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt....
You can buy me a beer to help with my misery if you actually do put your money where your mouth is!
Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless. Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful. They should be aware that, unfortunately, the only way is down! How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt.... You can buy me a beer to help with my misery if you actually do put your money where your mouth is! The Squire In Residence
  • Score: 13

7:39pm Thu 23 Jan 14

Beyond News Forum says...

The Squire In Residence wrote:
Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless.
Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful.
They should be aware that, unfortunately, the only way is down!
How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt....
You can buy me a beer to help with my misery if you actually do put your money where your mouth is!
You do have a fair point, but the fans shares are worth jack buddy. It could be different in a few years if BWFC kick off a new IPO - Maybe what should be guaranteed is that those fans who have shares now, should be given an option to buy back at the same rate they sold at???

I totally agree that fans are being kicked in the teeth left right and center, and if Gartside does eventually succumb then the pill won;t be as hard to swallow.

I dunno, tis certainly a hard option to take for all involved in reality. But for the club to get back in the PL then this might be the only viable option to avoid not being able to spend money next year when the sh!t has really hit the fan, if you pardon the pun.

I'll buy the beer ;)
[quote][p][bold]The Squire In Residence[/bold] wrote: Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless. Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful. They should be aware that, unfortunately, the only way is down! How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt.... You can buy me a beer to help with my misery if you actually do put your money where your mouth is![/p][/quote]You do have a fair point, but the fans shares are worth jack buddy. It could be different in a few years if BWFC kick off a new IPO - Maybe what should be guaranteed is that those fans who have shares now, should be given an option to buy back at the same rate they sold at??? I totally agree that fans are being kicked in the teeth left right and center, and if Gartside does eventually succumb then the pill won;t be as hard to swallow. I dunno, tis certainly a hard option to take for all involved in reality. But for the club to get back in the PL then this might be the only viable option to avoid not being able to spend money next year when the sh!t has really hit the fan, if you pardon the pun. I'll buy the beer ;) Beyond News Forum
  • Score: 2

11:21pm Thu 23 Jan 14

bigbob123 says...

I am a Wigan fan but I can't quite grasp what the heck is going on!
You were X million in debt and then spent TWENTY MILLION on the hotel?
If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation?
Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price.
Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story
I am a Wigan fan but I can't quite grasp what the heck is going on! You were X million in debt and then spent TWENTY MILLION on the hotel? If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation? Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price. Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story bigbob123
  • Score: 2

8:53am Fri 24 Jan 14

wagstaff says...

The Squire In Residence wrote:
Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless.
Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful.
They should be aware that, unfortunately, the only way is down!
How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt....
You can buy me a beer to help with my misery if you actually do put your money where your mouth is!
ok squire you win, I'm in town next Saturday and I'll buy you a pint, "BETTER"
[quote][p][bold]The Squire In Residence[/bold] wrote: Gartside losing his shares is a drop in ocean to him, he has taken out more than he has put in. It was the every day fan who put their hands in their pockets back in the eighties, it was the same people who bought shares in the club. So let me ask you this - who is it that loses out, time and again? You guessed it, the fans! We pay our money week in week out, we get no financial return and to top it off, for those who put in hard earned money into the club - in shares - it gets taken away and is therefore worthless. Yes in the sharemarket it is up to the individual to gauge the outcome - but similarly you expect a little compassion from the club we have put good money into. All this reverse takeover (back in the day) and now to change to PLC yet again makes the shareholders lose even the piece of paper their shares were written on. The way that the club has proceeded - in taking the every day fan for a ride - is disgraceful. They should be aware that, unfortunately, the only way is down! How many of you will be going to Yeovil in a few weeks time, not The Righteous One I doubt.... You can buy me a beer to help with my misery if you actually do put your money where your mouth is![/p][/quote]ok squire you win, I'm in town next Saturday and I'll buy you a pint, "BETTER" wagstaff
  • Score: 0

8:57am Fri 24 Jan 14

The Righteous One says...

Basically, if one read the accounts there are 3 subsidiary companies all which are entitled to be listed separately and have their own accounts - and if this happenes it will possibly mean a 4th or more subsidiary companies which act independently from each other but tied together through various securities measures such as cross company guarantees - therefore the debt (which in real financial term,s - i.e. owed to a financial institution) of £8million, can be spread.

The "loans" from Moonshine Investments will probably become private shares - hence the Limited Liability bit - and as such Moonshine Investments will become the new owner of Burnden Leisure with Eddie becoming a minor private shareholder - thus the 10 year repayment becomes lifetime (or until Moonshift want to sell).
Basically, if one read the accounts there are 3 subsidiary companies all which are entitled to be listed separately and have their own accounts - and if this happenes it will possibly mean a 4th or more subsidiary companies which act independently from each other but tied together through various securities measures such as cross company guarantees - therefore the debt (which in real financial term,s - i.e. owed to a financial institution) of £8million, can be spread. The "loans" from Moonshine Investments will probably become private shares - hence the Limited Liability bit - and as such Moonshine Investments will become the new owner of Burnden Leisure with Eddie becoming a minor private shareholder - thus the 10 year repayment becomes lifetime (or until Moonshift want to sell). The Righteous One
  • Score: 0

8:57am Fri 24 Jan 14

wagstaff says...

bigbob123 wrote:
I am a Wigan fan but I can't quite grasp what the heck is going on!
You were X million in debt and then spent TWENTY MILLION on the hotel?
If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation?
Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price.
Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story
why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business
[quote][p][bold]bigbob123[/bold] wrote: I am a Wigan fan but I can't quite grasp what the heck is going on! You were X million in debt and then spent TWENTY MILLION on the hotel? If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation? Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price. Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story[/p][/quote]why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business wagstaff
  • Score: -3

9:19am Fri 24 Jan 14

bigbob123 says...

wagstaff wrote:
bigbob123 wrote:
I am a Wigan fan but I can't quite grasp what the heck is going on!
You were X million in debt and then spent TWENTY MILLION on the hotel?
If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation?
Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price.
Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story
why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business
Big Dave has made no secret that he's looking to sell soon.
Which would be good for the club in general.
The club has been run properly and as a result we have no real money issues.
Shame Bolton can't do the same.
So we are all right pal, no need to worry just yet, you?
[quote][p][bold]wagstaff[/bold] wrote: [quote][p][bold]bigbob123[/bold] wrote: I am a Wigan fan but I can't quite grasp what the heck is going on! You were X million in debt and then spent TWENTY MILLION on the hotel? If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation? Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price. Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story[/p][/quote]why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business[/p][/quote]Big Dave has made no secret that he's looking to sell soon. Which would be good for the club in general. The club has been run properly and as a result we have no real money issues. Shame Bolton can't do the same. So we are all right pal, no need to worry just yet, you? bigbob123
  • Score: 2

11:54am Fri 24 Jan 14

wagstaff says...

bigbob123 wrote:
wagstaff wrote:
bigbob123 wrote:
I am a Wigan fan but I can't quite grasp what the heck is going on!
You were X million in debt and then spent TWENTY MILLION on the hotel?
If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation?
Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price.
Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story
why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business
Big Dave has made no secret that he's looking to sell soon.
Which would be good for the club in general.
The club has been run properly and as a result we have no real money issues.
Shame Bolton can't do the same.
So we are all right pal, no need to worry just yet, you?
football can't be funded by the sale's of pie's alone no matter how many your lot stuff down your neck's,
[quote][p][bold]bigbob123[/bold] wrote: [quote][p][bold]wagstaff[/bold] wrote: [quote][p][bold]bigbob123[/bold] wrote: I am a Wigan fan but I can't quite grasp what the heck is going on! You were X million in debt and then spent TWENTY MILLION on the hotel? If the club thinks that there is no chance of premiership footy at the end of the season then what is the club going to be worth when its in huge debt and fighting relegation? Looks to me that the club is shaping up to sell and wants as much attached to it as possible to achieve the highest price. Hope you lot get out of this mess sharpish otherwise it could be a Portsmouth / Leeds story[/p][/quote]why don't you concentrate on what you will do when pie eating Dave pops his clogs and keep your nose out of our business[/p][/quote]Big Dave has made no secret that he's looking to sell soon. Which would be good for the club in general. The club has been run properly and as a result we have no real money issues. Shame Bolton can't do the same. So we are all right pal, no need to worry just yet, you?[/p][/quote]football can't be funded by the sale's of pie's alone no matter how many your lot stuff down your neck's, wagstaff
  • Score: -2

11:57am Fri 24 Jan 14

BURGLARBILL says...

As a Trotter from 300 miles away but an ex-Boltonian of some 55 years I have been following the demise of the team and the financial mistakes for some years so having predicted the present situation about 4 years ago all I can say is I told you so. Please realise football is about fans and finance but the two don't mix too well. Sadly, and I went back a few months ago, to see for myself, Bolton is a town on the down with decline written all over the the Haulgh round to Halliwell , including the town centre,so declining numbers at the Reebok should come as no surprise. Gates might be enhanced if Pukka pies had halal meat in them.
As a Trotter from 300 miles away but an ex-Boltonian of some 55 years I have been following the demise of the team and the financial mistakes for some years so having predicted the present situation about 4 years ago all I can say is I told you so. Please realise football is about fans and finance but the two don't mix too well. Sadly, and I went back a few months ago, to see for myself, Bolton is a town on the down with decline written all over the the Haulgh round to Halliwell , including the town centre,so declining numbers at the Reebok should come as no surprise. Gates might be enhanced if Pukka pies had halal meat in them. BURGLARBILL
  • Score: -1

11:11pm Fri 24 Jan 14

genesis22 says...

the financial structure built around the club and E Davies is designed to protect the secular interests of the individual investors, the offshore trust helps to keep a cloak of secrecy over the facts and to avoid UK tax. As far as I can understand the situation, debt is being stockpiled year on year - allowing the club to meet its monthly outgoings, with club income used to service the debt via interest payments to Moonshare investors. Collateral is provided by E Davies using club assets that he now owns. To all intent and purpose, the proposed redeveloping of land owned by Burnden Leisure into a £100 million commercial office complex simply creates another asset allowing more debt to be secured. All the while the core business of running a football club degenerates with revenue collapsing in tandem. Eventually the clubs decreasing income will be entirely taken up to meet the interest due on the gross debt, with nothing left aside to invest in players, unlike the bank of England we cannot apply Q.E. and print our own money, what happens then ?
the financial structure built around the club and E Davies is designed to protect the secular interests of the individual investors, the offshore trust helps to keep a cloak of secrecy over the facts and to avoid UK tax. As far as I can understand the situation, debt is being stockpiled year on year - allowing the club to meet its monthly outgoings, with club income used to service the debt via interest payments to Moonshare investors. Collateral is provided by E Davies using club assets that he now owns. To all intent and purpose, the proposed redeveloping of land owned by Burnden Leisure into a £100 million commercial office complex simply creates another asset allowing more debt to be secured. All the while the core business of running a football club degenerates with revenue collapsing in tandem. Eventually the clubs decreasing income will be entirely taken up to meet the interest due on the gross debt, with nothing left aside to invest in players, unlike the bank of England we cannot apply Q.E. and print our own money, what happens then ? genesis22
  • Score: 0

4:22pm Sat 25 Jan 14

FlimwellFan says...

I concur with Genesis22's comments, so it's goodbye BWFC because Burnden Leisure would appear to have arrived at the end of its line of credit.
I concur with Genesis22's comments, so it's goodbye BWFC because Burnden Leisure would appear to have arrived at the end of its line of credit. FlimwellFan
  • Score: 0

10:19am Sun 26 Jan 14

wagstaff says...

BURGLARBILL wrote:
As a Trotter from 300 miles away but an ex-Boltonian of some 55 years I have been following the demise of the team and the financial mistakes for some years so having predicted the present situation about 4 years ago all I can say is I told you so. Please realise football is about fans and finance but the two don't mix too well. Sadly, and I went back a few months ago, to see for myself, Bolton is a town on the down with decline written all over the the Haulgh round to Halliwell , including the town centre,so declining numbers at the Reebok should come as no surprise. Gates might be enhanced if Pukka pies had halal meat in them.
think you should be on Wigan post's comments page mate
[quote][p][bold]BURGLARBILL[/bold] wrote: As a Trotter from 300 miles away but an ex-Boltonian of some 55 years I have been following the demise of the team and the financial mistakes for some years so having predicted the present situation about 4 years ago all I can say is I told you so. Please realise football is about fans and finance but the two don't mix too well. Sadly, and I went back a few months ago, to see for myself, Bolton is a town on the down with decline written all over the the Haulgh round to Halliwell , including the town centre,so declining numbers at the Reebok should come as no surprise. Gates might be enhanced if Pukka pies had halal meat in them.[/p][/quote]think you should be on Wigan post's comments page mate wagstaff
  • Score: 0

1:16pm Sun 26 Jan 14

ex supporter says...

After watching a money expert on tv explain that if someone wanted to take over a company they where only allowed to buy up to 30% of the shares and then make an offer to buy all the remaing shares this offer would be voted on by the shareholders but this never happened and overnight my shares became worthless was it legal !! it certainly wasn't gentlemanl
ex supporter
After watching a money expert on tv explain that if someone wanted to take over a company they where only allowed to buy up to 30% of the shares and then make an offer to buy all the remaing shares this offer would be voted on by the shareholders but this never happened and overnight my shares became worthless was it legal !! it certainly wasn't gentlemanl ex supporter ex supporter
  • Score: 0

6:32pm Sun 26 Jan 14

MrBenggo says...

Bolton lost again,
every week it's the same,
it has got to be said,
soon Bolton will be dead,
I don't watch any more,
it's the same old score.
Bolton lost again, every week it's the same, it has got to be said, soon Bolton will be dead, I don't watch any more, it's the same old score. MrBenggo
  • Score: 0

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