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Owner Power Struggle Crisis

If you couldn't tell, things are not rosy

Jan Kruger/Getty Images

As the manager appointment drags on into a thirteenth week, the small matter of our owners strained relationship seems to be reaching a head again behind the scenes.

Despite Lee Anderson's claims that everything is rosy in the club boardroom, even Tibetan monks, in the most reclusive of temples, now know that things are fractious between Ken and Dean. Their dispute is the perfect example of an open secret.

Whilst there may be a number of reasons why their partnership isn't working, the main one has to be, surprise, surprise, money. More to the point is that, as Dean has put his cock on the financial block from day one, with his Blumarble loan, Dean believes that the time for Ken to join him there is long overdue.

For those who have just returned from a mission to Mars and don't know the situation, a quick recap.

During their takeover, the figures given in the winding up court, was that Dean and Ken would put in £7.5m to tie our club over to the end of the 2015/16 season (30 Jun 16). This is reported as £5m from Dean (Blumarble loan) and £2.5m from Ken. To satisfy the football league that finance was in place next season, our Ken was to add an additional £6m (estimated) for next season. The fact that Ken would end up putting more money into the club coffers gave him Chairman rights, when they took over the club back in March.

This is where the fun starts, as Ken now states that the initial £2.5m was only going to be used if it was needed. I can only assume from this, that the inability to put in the required finance and associated overdue audited accounts, in order to lift the two football league transfer embargoes against the club, isn't sufficient reason...

Furthermore, the managerial appointment saga is drawing ever closer to the 01 July, which does make you wonder as to whether the owners can only afford to employ a new management team, when the 21 released players contracts finally run out on 30 June.

As mentioned on this site previously, Deans first 'deliver the dosh mate or else' deadline to Ken, at the end of May, nearly resulted in our players not being paid. It is assumed that a refinance of Deans Blumarble loan, that was quickly put in place during that last week in May, released enough funds to cover the players wages & thus divert the Mexican standoff.

To be fair to our owners, they've not been helped by a few unpleasant surprises left from the previous regime. These being having to find approximately £580k, to cover both Silva's loan fee and Spearing's final transfer payment, which undoubtably must've been a bit of a bugger.

On the other hand though, they did get the final slice of our parachute payment this month totalling at an estimated £800k.

Have Bolton Wanderers enough cash left to see out this month? If so, does our Ken have the cash needed for next season? Ken's answer is a very chilled 'yes'. Whilst it is understood that the looming HMRC payment due on the 10 of June will be paid, Dean's answer is still rumoured to be a very stressed 'no way'. The staff payments due at the end of June are probably causing the biggest concern.

So, here's the thing. Dean has, once again, had enough. Another 'pay up or else' deadline is alleged to be expiring this weekend, with shit about to get real, if no Ken money is forthcoming. Meanwhile our Ken has gone on holiday...