a good read, we finally move on. Hard to believe though, far smaller clubs have managed far larger debts than 20m and recovered years ago
I saw that earlier Eire and at a time when Bolton are in danger of going into administration even liquidation it shows what bad owners can do. So EFL/FA are culpable and should shoulder much of the blame for allowing bandits into the game. One thing that stands out for me, and I will contact Mike Thornton in a while to get his view: The last time Bates took us into admin and Grant Thornton the administrators had agreed a deal with Revies son, the guy from Clipper etc, Bates suddenly found a £19m debt from somewhere which the administrator had missed????? It then transpires that FSF (Bates company offshore) said they would forget the £19m as long as Bates was kept in charge. This blew every bid out of the water and Bates kept the club. By the time Bates sold to Cellino Bates had moved £19m is 'consultancy fees' offshore to another dodgy Bates shell company, so in effect had got that £19m debt fully repaid, but amazing that the company Bates destroyed had the same £19m debt in creditors according to Mike's report?
