Bury to be given extra 48hrs

The main creditor is a company owned by his son in law
well the football ceditors get paid first dont they? they are secured..so the administrators will sort them out..then any change can go to the current owners son in law..
But if the land is worth more than the tax bill, he surely stands to make a decent profit- especially considering he bought this debt for £1
owe £4m to football creditors dont they?
 


Why wasn't there interest a few days ago? Why suddenly since a deadline has been given and an extention required?

Bit skeptical tbh.
The owner is banking on the fact that someone won’t let the club go to the wall and will give him a tidy sum near deadline.
He has just been sitting tight ready.
I think its time the EFL gave Bolton a good kick up the arse.
Bolton are just as badly screwed as Bury.
Currently there is no credible bid to buy them - and even more worryingly they are in administration, so you cant even use the excuse of an awkward owner.
 
Last edited:
The owner is banking on the fact that someone won’t let the club go to the wall and will give him a tidy sum near deadline.
He has just been sitting tight ready.

He turned down an offer last week apparently. Why would they get an extra 48 hours because of interst when he's already rejecting them. The bloke sounds like a total tosspot and whilst it not the club/fans fault he's a tit it's affecting other clubs in the league.

Even Joey Barton is managing to take the high ground over the way the EFL has dealt with it.

I dont see what an extra 48 hours would do when they were in the same position 48 hours ago.
 
He turned down an offer last week apparently. Why would they get an extra 48 hours because of interst when he's already rejecting them. The bloke sounds like a total tosspot and whilst it not the club/fans fault he's a tit it's affecting other clubs in the league.

Even Joey Barton is managing to take the high ground over the way the EFL has dealt with it.

I dont see what an extra 48 hours would do when they were in the same position 48 hours ago.
He would have turned it down because he thinks he can get more money closer to the deadline.
He is also banking on the fact that the EFL don’t want to look like bad guys when there is a chance the club can be saved.
Classic brinksmanship in business.
The fact he bought them in January and has put no money in since February tells you everything about his intentions.
 
Just a suggestion no guaranteed extension yet
Chief executive of EFL was on radio 5 live this morning and she made it very clear that a extension would only be given if there was a credible offer made today, furthermore it would be a short extension no more than 48 hours as they had reached the point where they could no longer postpone fixtures. She also said that at moment there was no credible offer but that they were talking to all parties
 
The main creditor is a company owned by his son in law
Thanks I didn’t know the details, HMRC and football creditors will rank ahead of son in law, the administrators will take a hefty chunk to “cover” their fees, the land must be worth a pretty penny to go that route.

I think the sh!thouse chairman is just holding out knowing he’ll get a better deal as folk get desperate to save the club as deadline approaches.
 
The owner is banking on the fact that someone won’t let the club go to the wall and will give him a tidy sum near deadline.
He has just been sitting tight ready.

Bolton are just as badly screwed as Bury.
Currently there is no credible bid to buy them - and even more worryingly they are in administration, so you cant even use the excuse of an awkward owner.
what happened to that Football ventures mob? Bassini still maintains an avid interest.
 
He would have turned it down because he thinks he can get more money closer to the deadline.
He is also banking on the fact that the EFL don’t want to look like bad guys when there is a chance the club can be saved.
Classic brinksmanship in business.
The fact he bought them in January and has put no money in since February tells you everything about his intentions.

But that was the case 48 hours ago. Another 48 hours just puts everyone back in exactly the same position as they already were 48 hours ago - a deadline in 48 hours.
 
He turned down an offer last week apparently. Why would they get an extra 48 hours because of interst when he's already rejecting them. The bloke sounds like a total tosspot and whilst it not the club/fans fault he's a tit it's affecting other clubs in the league.

Even Joey Barton is managing to take the high ground over the way the EFL has dealt with it.

I dont see what an extra 48 hours would do when they were in the same position 48 hours ago.
Chief executive of EFL made it very clear on 5 live this morning that an extension would only be given if a credible offer to buy surfaced today. She said that one wasn’t available at moment and that EFL could no longer continue to postpone fixtures
 
what happened to that Football ventures mob? Bassini still maintains an avid interest.
FV only wanted them if they could buy the hotel too- the profits of the hotel would negate the losses of the football club - but the hotel is being sold to someone else so they don’t have the proof of funds to run the club.
Bassini is a possibility - but he is a very dodgy character (apparently)
But that was the case 48 hours ago. Another 48 hours just puts everyone back in exactly the same position as they already were 48 hours ago - a deadline in 48 hours.
Yes but if there is no firm deal in place by tonight the club is dead.
The owner will think that will panic a potential buyer into increasing their bid.
It’s like any deal, you don’t normally accept the first offer
 
Last edited:
FV only wanted them if they could buy the hotel too- the profits of the hotel would negate the losses of the football club - but the hotel is being sold to someone else so they don’t have the proof of funds to run the club.
Bassini is a possibility - but he is a very dodgy character (apparently)
goven bassini has been conviced of fraud..i dont think you need to be that carefu about calling him "dodgy"
 
The owner is banking on the fact that someone won’t let the club go to the wall and will give him a tidy sum near deadline.
He has just been sitting tight ready.

Bolton are just as badly screwed as Bury.
Currently there is no credible bid to buy them - and even more worryingly they are in administration, so you cant even use the excuse of an awkward owner.
Chief executive of EFL stated on 5 live this morning that situation that the Bolton situation AND that a sale was in final stages of being negotiated
 
Chief executive of EFL made it very clear on 5 live this morning that an extension would only be given if a credible offer to buy surfaced today. She said that one wasn’t available at moment and that EFL could no longer continue to postpone fixtures
FV only wanted them if they could buy the hotel too- the profits of the hotel would negate the losses of the football club - but the hotel is being sold to someone else so they don’t have the proof of funds to run the club.
Bassini is a possibility - but he is a very dodgy character (apparently)

Yes but if there is no firm deal in place by tonight the club is dead.
The owner will think that will panic a potential buyer into increasing their bid.
It’s like any deal, you don’t normally accept the first offer

It's different if it requires a firm deal for an extention. Not just interest.
 
What a load of crap. What makes you think he’d get to sell the land? The administrator would control the assets and would all go to HMRC more than likely before other creditors. Chairman wouldn’t get a penny


Except he wouldn’t get first shot anyway. The large outstanding tax bill would be first

He transferred the ground into a new company controlled solely by himself. At the moment the football club is only subject to a CVA - there are no administrators or liquidators in place. If only the football club enters admin or liquidation, he still gets the ground.
what happened to that Football ventures mob? Bassini still maintains an avid interest.

Bassini is the only thing holding that up. It could complete tomorrow if he stopped playing silly buggers.
 
Last edited:

Back
Top