I didn't think the Whites Hotel was doing to well. If that's the case perhaps Phil is trying hard to put the Club/owner, into even more debt.

He's quite good at that as we have seen over the past 10 or 11 years so why change now.

In theory it shouldn't affect the club's level of debt as the work is being carried out by the holding company which owns the club, rather than the club itself.

However without seeing how things are structured and who controls what assets I couldn't say where the line is drawn between bwfc and burnden leisure I can't say for certain.

It seems like the hotel wasn't doing well at first but has picked up and is being used for events etc as well as it's usual use. Then again we only bought it outright at the start of the season.

This is an exercise in Phil's "new revenue streams for the club"

BWFC branded Ice cream vans and hit men were part of the rejected list by those who know revenue stream lists.

Where is the money funding this coming from? It cant be from eddie davies as he won't have that kind of money left. Who are the individuals putting the money in? Is it from a bank? Is the overall debt going to be pushed to the £270 million mark? How can this be sustainable for bolton wanderers? What happens if the venture fails? Armageddon 2.

What we have at BWFC is a simple but effective tax avoidance situation. Through EDs arrangements with the club he is creating a paper loss. That paper loss is carried over on to the books of the holding company, so any businesses in the holding company can now make a profit (and a massive profit at that) and never be subject to any UK tax. The only problem with the arrangement is FFP, which has put a small spanner in the works, but that can be and will be circumvented very soon by the sale of the proposed development to another company under ED's control which will be for an over-inflated price to offset our losses.

The owner does not like paying tax. Look a where he moved to escape UK tax, so this arrangement by creating a trading loss to himself is nothing different that what I've used to help many rich people avoid paying nearly all there tax. Its a lot different today than a few years ago as tax avoidance is a taboo subject (and for us regular Joe's -quite disgusting) but it paid the bills for me and my family for many years.

Anyone that thinks the losses are out of control are simply not understanding of the situation going on. If PG was not doing a good job, Ed will have got rid of him a long time ago. They pay and employ people much smarted than most of us, so they know what they are doing. The question is what they are doing ethical? I would hazard a guess at no, but that would be the same for the majority of people in the wealth bracket of PG and ED

It's not tax avoidance.
Just another crazy idea from Phil while sat in his shed, underpants on head chop stick up each nostril. Chanting wibble.

PS I do not pay a Cent, Euro or Penny in tax. You don't need to offset the losses up here.

Witching hour approaches.