What can happen if you do not take on the debt (1 Viewer)

[covboy1987]

Bolton’s wanders plight as predicted has taken a massive turn – Instead of been purchased by it seemed the only interested party Laurence Bassini - (Bassini would have taken on huge debt if he had been successful) - the deal collapsed and the club went into administration – This morning things have taken a massive turn about as there are 30 separate interested parties in taking the club on – In-fact the administrators have had to put some rules in place due to the amount of interest – any potential bidders will need to provide proof of funds worth 25 million and deposit £25,000 to just access financial information

 

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[Esoterica]

I dread to think what chancers were crawling out of the woodwork once the administration was confirmed. Would be surprised if that 30 interested parties is higher than 2 after the admin's conditions kick in.

 

[covboy1987]

I dread to think what chancers were crawling out of the woodwork once the administration was confirmed. Would be surprised if that 30 interested parties is higher than 2 after the admin's conditions kick in.

They won't talk to anyone without the £25,000 upfront (non-refundable) or proof or funds £25 million

 

[HuckerbyDublinWhelan]

Does help that there is a stadium involved, just think if we had a stadium that we owned or had the chance of buying - we’d probably have 30 interested parties

 

[Esoterica]

They won't talk to anyone without the £25,000 upfront (non-refundable) or proof or funds £25 million

Yes, 30 parties have shown an interest as soon as they were placed in admin but I bet less than a tenth of those will meet those financial conditions and the rest will just be chancers and cowboys looking to make a quick buck.

 

[oldskyblue58]

I believe the number of interested parties received by administrator for Ccfc was around 10 initially even without a stadium. The number soon drops and pretty quickly the administrators know the small number they want to deal with to get best price..... or meet pre standing criteria