A 'big job' with a club in league 1 with a very questionable ownership situation and finances that are worse than any other team in league 1?
Bolton is still on a knife-edge imo, still losing £1m a month, income will now be reduced by £5m (elegation) per annum and taking on lots of REAL debts secured against the club unlike the previous owner debt. Having looked at the people involved and the financial situation put in place, do not be surprised to see it all unravel again and quite quickly. If Bolton dont get promoted.... they are royally :censored:ed.
Even some Bolton fans are VERY dubious:
As a recap, SS were to put £7.5m in this season and another £15 in for next. Anderson confirmed that just him and Holdsworth are the equity partners, in other words, the guys putting money into the club. I understand that from the £7.5m, £5m is from Holdsworth and £2.5 by Anderson and that this money will come from high interest investor loans taken out against the clubs remaining assets.
So far Holdsworth seems to have met his end of the bargain but there is no evidence to suggest that Anderson has put a single penny in at this point.
It gets worse. Whilst Davies wiped £170m debt, that debt wasn't gaining interest. The remaining debt that we know of is currently as follows:
£15m owed to Eddie Davies over 5 years
£5.85 owed to PBP for the car park redevelopment work project.
£5m owed to Bluemarble Capital Ltd, assumed to be via Holdsworth.
£2.5m owed to Brett Warburton
£1m owed to Eddie Davies over 2 years
Then there's the £2.5m that will be owed to Andersons investors when the money finally goes in.
All the above is charged against the clubs assets. In other words we have a number of high interest mortgages. There is also no evidence so far of money going into the club that hasn't been raised by mortgaging the assets.
So whilst the debt is a 'mere' £30m as opposed to £200m, it involves high interest loans for a club that has lost £5m income due to relegation and is losing close to £1 m a month in running costs!
Essentially Anderson needs all his future plans to meet their best expectations for the club to continue to survive. Hence the Lennon analogy that despite best intentions, if things outside your control that you need to happen, don't, then you're in a world of :censored:, probably demanding skills you don't possess.