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Club News

A note from the Chairman

27 April 2019

Following on from the club statement made earlier today, l consider it appropriate to update everyone on recent events.

Over the last three weeks several senior staff and l have found working with Mr Bassini to be a daily draining challenge and to be honest bares no comparison with the previous discussions and negotiations with the other earlier interested buyers, which were at all times professional and remained confidential.

Unfortunately, we never really know what Mr Bassini’s true intentions are, as they constantly change and following his recent statements to the media, l consider it necessary to respond to a number of his comments.

Despite numerous promises and assurances to the playing staff, management, non-playing senior staff and myself, Mr Bassini has continuously failed to provide any financial funding whatsoever.

I note that he has gone on record and stated that he transferred £1 million yesterday to the club, but as far as l am aware all he did was to get a relation to transfer £1million to the family solicitor. This would not enable him to pay the player salaries that he has been promising to pay every day for the last week.

During my dealings with Mr Bassini he has constantly changed his lawyers and l believe we are now talking to the fourth or fifth firm of lawyers, which does not help matters progress.

From the outset, Mr Bassini has continuously assured me that he had sufficient personal funding to take the club forward to the next level. Over the last three weeks it has become patently obvious that this may not be the case.  Indeed, earlier this week he provided a conditional offer of funding from a broker which the EFL have confirmed is not acceptable in its present format. I must also mention that at this stage,  Mr Bassini has still not been approved by the EFL under the OADT,  although l accept that may or may not be forthcoming in the future.

We received a letter yesterday from one of Mr Bassini’s lawyers stating that Mr Bassini had paid Paul Aldridge the token consideration required under the Sale and Purchase Agreement. Mr Aldridge has categorically denied that any monies were paid to him and of course the consideration cannot be paid until the EFL have sanctioned the change of ownership. The Lawyer also stated earlier in the week that Mr Bassini would be providing details of the person to be appointed a director of the group companies. To date, this information has still not been received. Furthermore, l categorically deny that l have told Mr Bassini that I want to stay on as a director, as has been reported in the Bolton News today. However, l am unable to resign until a new director is appointed.

I was also surprised to listen to Mr Bassini  during his Sky Sports News interview discuss the two offers he had received by the previously interested parties that I had held discussions with that would have given him a  £20million profit, but he had declines their offers. I find it difficult to believe that they made any such offers and was quite frankly concerned to learn of the comments made and despite Mr Bassini’s assurances that the game would go ahead  as we all now know that has not happened. 

There is a great deal more that l could say  but in an effort to try and progress matters and bring everything to a conclusion, l have decided to give Mr Bassini until close of play on Monday to complete the outstanding matters, or l will have to consider exercising the alternative options available to me. The ball is now firmly in Mr Bassini’s court.


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