| Non payment of wages 18:36 - Nov 30 with 7856 views | jimmysbaldhead |
Bolton have failed to pay their players this month and according to Alan Nixon on twitter, normally a very reliable source, a league 1 club has also not paid their players this month. He's keeping that for the paper tomorrow. |  | | |  |
| Non payment of wages on 18:45 - Nov 30 with 7829 views | SuddenLad |
To be honest, I wouldn't be surprised if the L1 club was OAFC.I know we poke fun at the Gigglers, but the woes of the Manchester North End lot have largely gone unnoticed.
If it WAS to be the Gigglers, it could be a 'domino effect' quite quickly. |  |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Non payment of wages on 18:48 - Nov 30 with 7810 views | dingdangblue |
| Non payment of wages on 18:45 - Nov 30 by SuddenLad |
To be honest, I wouldn't be surprised if the L1 club was OAFC.I know we poke fun at the Gigglers, but the woes of the Manchester North End lot have largely gone unnoticed.
If it WAS to be the Gigglers, it could be a 'domino effect' quite quickly. |
Probably waiting for the BT money on Sunday. |  |
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| Non payment of wages on 20:04 - Nov 30 with 7645 views | BigDaveMyCock |
What's the betting that Forever Bury's inaugural meeting with honest Glenn Thomas will take place tomorrow? [Post edited 30 Nov 2015 20:13]
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| Non payment of wages on 20:41 - Nov 30 with 7519 views | BartRowou |
Bolton Wanderers have one of those massive screens in the corner. At half-time, they show highlights of the first half. But only theirs. They ignore e-mails asking them to explain this policy.
They can shake their buckets elsewhere. |  |
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| Non payment of wages on 09:13 - Dec 1 with 7101 views | BigDaveMyCock |
Not sure it even constitutes news anymore but another CCJ has been registered against Bury on 24 November. Somebody else they consider not worthy of paying in their quest for the Championship or oblivion. | |
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| Non payment of wages on 09:47 - Dec 1 with 7059 views | BarryStrange |
| Non payment of wages on 20:41 - Nov 30 by BartRowou |
Bolton Wanderers have one of those massive screens in the corner. At half-time, they show highlights of the first half. But only theirs. They ignore e-mails asking them to explain this policy.
They can shake their buckets elsewhere. |
When we won at Bolton in 2002 they didn't bother referring to us as "Bury" on the scoreboard, only listing us as "Visitors".
There were 3 divisions between us then, there sure as hell won't be by August.
Never understood why players don't go on strike more in these situations - if work stopped paying me I'd stop turning up. | | | |
| Non payment of wages on 10:58 - Dec 1 with 6981 views | Sandyman |
| Non payment of wages on 09:47 - Dec 1 by BarryStrange |
When we won at Bolton in 2002 they didn't bother referring to us as "Bury" on the scoreboard, only listing us as "Visitors".
There were 3 divisions between us then, there sure as hell won't be by August.
Never understood why players don't go on strike more in these situations - if work stopped paying me I'd stop turning up. |
There have been several occasions when bury players haven't been paid......
http://www.theguardian.com/football/2013/mar/07/bury-players-minimum-wage-manage |  | | |
| Non payment of wages on 11:23 - Dec 1 with 6930 views | CockneyDale |
I don't know Alan Nixon - has he said today which League One team it is? |  | | |
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| Non payment of wages on 11:25 - Dec 1 with 6926 views | BarryStrange |
I watched Bury under Blackwell.
Believe me the players stopped turning up then. | | | |
| Non payment of wages on 11:45 - Dec 1 with 6883 views | Tommy |
| Non payment of wages on 11:25 - Dec 1 by BarryStrange |
I watched Bury under Blackwell.
Believe me the players stopped turning up then. |
It's Oldham according to one of their fans. Can't see any source for it yet though. | | | |
| Non payment of wages on 11:48 - Dec 1 with 6878 views | dingdangblue |
| Non payment of wages on 11:45 - Dec 1 by Tommy |
It's Oldham according to one of their fans. Can't see any source for it yet though. |
Makes sense - they are obviously struggling paying contractors for that stand to be completed - money must be extremely tight. | |
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| Non payment of wages on 12:19 - Dec 1 with 6798 views | SuddenLad |
| Non payment of wages on 11:45 - Dec 1 by Tommy |
It's Oldham according to one of their fans. Can't see any source for it yet though. |
Thoughtit might be.
OAFC are rumoured to be in desperate financial trouble and have largely 'stayed under the radar' with our perceived 'obsession' with the Gigglers finances.
Could be a very uncertain future for Owdham if true. | |
| “It is easier to fool people, than to convince them that they have been fooled†|
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| Non payment of wages on 15:45 - Dec 1 with 6495 views | BigKindo |
Article also on BBC Sport |  | | |
| Non payment of wages on 19:05 - Dec 1 with 6294 views | ArthurDaley |
| Non payment of wages on 12:19 - Dec 1 by SuddenLad |
Thoughtit might be.
OAFC are rumoured to be in desperate financial trouble and have largely 'stayed under the radar' with our perceived 'obsession' with the Gigglers finances.
Could be a very uncertain future for Owdham if true. |
My Owdum supporting mate heard a rumour that a couple of loan signings are being paid for out of the managers own pocket. |  |
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| Non payment of wages on 21:42 - Dec 1 with 6070 views | Yorkshire_Dale |
| Non payment of wages on 19:05 - Dec 1 by ArthurDaley |
My Owdum supporting mate heard a rumour that a couple of loan signings are being paid for out of the managers own pocket. |
Sort of,hoping they may keep him in a job?? | | | |
| Non payment of wages on 13:23 - Dec 2 with 5863 views | electricblue |
Apparently Bolton are now close to administration..
This will put Bolton on zero points and firmly rooted to the bottom of the league.
There is imediate possible buy out and the PFA say the cant help to pay the players wages unless Bolton go into admin.....
Doesnt look good for Bolton at all. |  |
| My all time favourite Dale player Mr Lyndon Symmonds |
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| Non payment of wages on 13:49 - Dec 2 with 5803 views | dingdangblue |
| Non payment of wages on 13:23 - Dec 2 by electricblue |
Apparently Bolton are now close to administration..
This will put Bolton on zero points and firmly rooted to the bottom of the league.
There is imediate possible buy out and the PFA say the cant help to pay the players wages unless Bolton go into admin.....
Doesnt look good for Bolton at all. |
Its scandalous that they have allowed themselves to be in a position where they aren't self sufficient - Eddie Davies has put in 185 million pounds and they've enjoyed the riches from the premier league for a long time but its all been built on sand - seems like once he's pulled the plug on funding they just cant sustain the club. Days of paying the likes of Chris Eagles and Kevin Davies 30 grand a week are long gone. | |
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| Non payment of wages on 14:29 - Dec 2 with 5745 views | BarryStrange |
| Non payment of wages on 13:49 - Dec 2 by dingdangblue |
Its scandalous that they have allowed themselves to be in a position where they aren't self sufficient - Eddie Davies has put in 185 million pounds and they've enjoyed the riches from the premier league for a long time but its all been built on sand - seems like once he's pulled the plug on funding they just cant sustain the club. Days of paying the likes of Chris Eagles and Kevin Davies 30 grand a week are long gone. |
They must be properly struggling once the parachute money from the PL finished this season.
I feel for Lennon who probably wasn't told about all of this when he took the job, and is taking them down when realistically nobody could have done anything else.
Anyone know if they own the Reebok?
Baffling that so many are slagging off Eddie Davies over on their Bourd. Frankly the man deserves a statue in the car park as far as I can see. | | | |
| Non payment of wages on 15:33 - Dec 2 with 5685 views | 100notout |
Can't profess to know all the details but I'm sure ED's initial investment would have been EIS related i.e. tax efficient so whilst the balance sheet figure might be £185m, in reality it will be a lot lot less that he is actually "losing". Don't forget he has also had a considerable return on his "investment" via dividends and interest (think this is in the region of 8% p.a?) over many years so he's not done too badly.
(Not quite the interest rates that shower down the road are accruing on their debt but there are some similarities in their respective positions.) | |
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| Non payment of wages on 15:40 - Dec 2 with 5664 views | D_Alien |
| Non payment of wages on 15:33 - Dec 2 by 100notout |
Can't profess to know all the details but I'm sure ED's initial investment would have been EIS related i.e. tax efficient so whilst the balance sheet figure might be £185m, in reality it will be a lot lot less that he is actually "losing". Don't forget he has also had a considerable return on his "investment" via dividends and interest (think this is in the region of 8% p.a?) over many years so he's not done too badly.
(Not quite the interest rates that shower down the road are accruing on their debt but there are some similarities in their respective positions.) |
Good points.
Day has zero chance of having a statue erected on the car park though - he's sold it all. |  |
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| Non payment of wages on 16:40 - Dec 2 with 5588 views | robbowood |
| Non payment of wages on 15:33 - Dec 2 by 100notout |
Can't profess to know all the details but I'm sure ED's initial investment would have been EIS related i.e. tax efficient so whilst the balance sheet figure might be £185m, in reality it will be a lot lot less that he is actually "losing". Don't forget he has also had a considerable return on his "investment" via dividends and interest (think this is in the region of 8% p.a?) over many years so he's not done too badly.
(Not quite the interest rates that shower down the road are accruing on their debt but there are some similarities in their respective positions.) |
From The Offshore Game - established, initially as a project of the Tax Justice Network,to look at the role of offshore financial secrecy in sports. Our first research project tries to quantify the amount of offshore finance in the professional football leagues of England and Scotland, and explores the main risks that arise.
Bolton Wanderers comes in second place in our offshore league. Bolton is mid-table when compared against some of the Premier League giants in the amount of finance coming from offshore in pure volume terms. It has a total of £151,305,000 in finance coming from offshore, putting it in 6th place in terms of volume. However, that finance is hard to trace. The owner of Bolton Wanderers Football and Athletic Company Limited as stated in the accounts is Burnden Leisure PLC. The Fildraw Private Trust, owns 95% of Burnden which is based in Bermuda. The Bolton website
states that the majority shareholder of Bolton Wanderers Football and Athletic Club Limited is Eddie Davies OBE & CBE.
Technically speaking, this is incorrect, Mr Davies may be the beneficiary of the trust that owns Bolton’s parent. But the majority shareholder is Burnden Leisure Limited. To complicate things further most of the finance doesn’t come from Fildraw, but from Moonshift Investments Limited. Online forums state that Moonshift is registered in the British Virgin Islands, but the Offshore game team could not find any official record
confirming this. It is also frequently stated in online forums that Moonshift is “owned” by Eddie Davies. In reality, the annual accounts of Burnden Leisure simply state that Eddie Davies has “a beneficial interest” in Moonshift. In other words, he does have some rights to profit from
the company, but nowhere does it state that he is the owner of the company.
From what is written in the accounts, it is perfectly possible that another person altogether controls Moonshift. In total Bolton has £151,305,000 in loans from Moonshift Investments Limited. This is the entire amount of finance that comes from offshore as the shareholder funds of Burnden
Leisure Limited are negative. The liabilities of the club in terms of loans and other payments they need to make are greater than the assets of the club.
Bermuda and the British Virgin Islands are two of the most notorious of the Caribbean Secrecy Jurisdictions. Bermuda has one of the highest secrecy scores in the FSI at 80, and the BVI 66.
Bolton provides the perfect example about how ownership can be, complicated and obscured by offshore. The shares of Burnden Leisure PLC are majority owned not by a person but by a trust. That trust is controlled by a company, the Fildraw Private Trust company, again not by a person. Bermuda does not have a public register of directors or shareholders. Instead these records are held by the company themselves. So we do not
know who directors of the Fildraw Private Trust Company are. In reality it is incredibly difficult if not impossible to know who are the real human beings controlling the company and the club.
Eddie Davies is the beneficial owner of the Fildraw trust, but that does not mean he has any say in how the trust is managed or run. Trusts are a mechanism by which day to day control of assets is separated from the people that benefit from a company. The money, in the form of loans, comes from another unknown party Moonshift. Bolton find themselves in a position where they are entirely dependent on loans from an offshore
company about which next to nothing is known about, and controlled by a company about which we also know very little | | | |
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