BDO Accounts y/e 31st May 2019 - now available

[Paddy McGinty]

The BDO simply can't pull the WDT or the Masters. They are contractually obligated to run them and put them on the telly. Unless there is a break clause in the contract which lets them pull out, Eurosport can sue them if they aren't on. And being sued by Eurosport at this point means almost certain insolvency.

Whether they should have agreed that contact is a sensible question to ask. But, having signed it, they have to perform it.

What they need, and urgently, is some cash from somewhere, or they are finished. But they almost certainly can't get any because their brand is toxic and they cannot attract paying punters to anything except the world, and even then, numbers are dire. Their attempt to build a ponzi scheme for points rightly backfired.

It is almost impossible to see how they survive the year. The WDT will probably bankrupt them, if they aren't already, unless they literally run the thing for a price pot of about a grand all-in and somehow find another TV company to con out of their costs. Unless they find a large sum of money from somewhere, it is simply a question of when, not if, they collapse.

Your first two sentences are almost certainly incorrect. They can pull the events and they will. In fact they probably have to pull them unless Des wants to risk going to jail.
But overall yes, as we have already been saying for days, its all over for the BDO, it is a question of when.

The only way they can pull those events is if they are not contractually obligated to run them. If they are, they have to run them. That's how contacts work.

no. I am almost certain that's not what the contract will say (not unless Des goes to new levels of incompetence) . It will say that they can't run the event 'unless' it is on Eurosport. You cannot force the BDO to run an event against their will, that's not how the contract will work. If the BDO don't run the WDT then the rest of the Eurosport contract will be null and void. As you said above though Eurosport could then potentially make a claim for compensation against the BDO for not fulfulling the contract, but assuming the BDO pull it because they can't afford it (although are not technically in liquidation) then it would be a hard for Eurosport to get much out of a a case, even if it was succesfull. But it could be the action that then does send the BDO into liquidation...

what a mess

Are you Des's accountant by any chance?

[nikkiboy]

They could use the Corona virus card to cancel the WDT.

Surely that only works where there may be crowds involved?

[Ginge]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

[devosteve]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

Linda James e mailed to county reps and massive disclaimer not to share unfortunately but it’s bad "

Folk talking about it on fb. No one posting it yet.

[devosteve]

Ran into the ground.. absolutely woeful reading x"

[Ginge]

I mean surely it cant come as a surprise to them, the year end 2019 accounts were a big clue.

[Deleted User]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

I have them from County but have been asked not to divulge just yet as info is "sensitive". But apparently it makes for bleak reading.

[ILAD]

So you haven’t read them?

[Ginge]

Soon as I am sent them they will be posted, i dont give a fek. Waiting for someone to get their act together and hit the button.

[Bag Carrier]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

I have them from County but have been asked not to divulge just yet as info is "sensitive". But apparently it makes for bleak reading.

Every player that plays superleague,county,BDO has the right to see these accounts because it's because of there money there is a BDO.

This is the end for the BDO. £13kish in enterprise account, £57k ish in Limited.

Enterprises reportedly owe Limited £100k, Sportotal, 24/7,The Dutch tv lads (this is info i was passed)

Can't see anyway forward for enterprises now, So no more WDT,Masters,WC. Points are pretty much worthless now.

Limited would be in OK position if they had the £100k owed, But with what's in the bank this will just cover the county payouts etc.

Sad sad day, But 1 we all expected when people all jumped ship at the same time. Poor Frank.

[ILAD]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

I have them from County but have been asked not to divulge just yet as info is "sensitive". But apparently it makes for bleak reading.

Every player that plays superleague,county,BDO has the right to see these accounts because it's because of there money there is a BDO.

This is the end for the BDO. £13kish in enterprise account, £57k ish in Limited.

Enterprises reportedly owe Limited £100k, Sportotal, 24/7,The Dutch tv lads (this is info i was passed)

Can't see anyway forward for enterprises now, So no more WDT,Masters,WC. Points are pretty much worthless now.

Limited would be in OK position if they had the £100k owed, But with what's in the bank this will just cover the county payouts etc.

Sad sad day, But 1 we all expected when people all jumped ship at the same time. Poor Frank.

Why? He knew what was going on and did nothing or he knew nothing when he should have.

[Bag Carrier]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

I have them from County but have been asked not to divulge just yet as info is "sensitive". But apparently it makes for bleak reading.

Every player that plays superleague,county,BDO has the right to see these accounts because it's because of there money there is a BDO.

This is the end for the BDO. £13kish in enterprise account, £57k ish in Limited.

Enterprises reportedly owe Limited £100k, Sportotal, 24/7,The Dutch tv lads (this is info i was passed)

Can't see anyway forward for enterprises now, So no more WDT,Masters,WC. Points are pretty much worthless now.

Limited would be in OK position if they had the £100k owed, But with what's in the bank this will just cover the county payouts etc.

Sad sad day, But 1 we all expected when people all jumped ship at the same time. Poor Frank.

Why? He knew what was going on and did nothing or he knew nothing when he should have.

Then I have been misinformed then. Was told he was kept out of the loop like on a lot of previous decisions

No poor Frank then.

[Ginge]

Wouldnt surprise me if he was kept out the loop, the other three all thick as thieves arent they?

[ILAD]

Seems the counties have had a mid-year update of the finances.....awaiting further info.

I have them from County but have been asked not to divulge just yet as info is "sensitive". But apparently it makes for bleak reading.

Every player that plays superleague,county,BDO has the right to see these accounts because it's because of there money there is a BDO.

This is the end for the BDO. £13kish in enterprise account, £57k ish in Limited.

Enterprises reportedly owe Limited £100k, Sportotal, 24/7,The Dutch tv lads (this is info i was passed)

Can't see anyway forward for enterprises now, So no more WDT,Masters,WC. Points are pretty much worthless now.

Limited would be in OK position if they had the £100k owed, But with what's in the bank this will just cover the county payouts etc.

Sad sad day, But 1 we all expected when people all jumped ship at the same time. Poor Frank.

Why? He knew what was going on and did nothing or he knew nothing when he should have.

Then I have been misinformed then. Was told he was kept out of the loop like on a lot of previous decisions

No poor Frank then.

He may well have, but that is incompetence in itself.

[devosteve]

The directors bale out and get away with answering for what has happened?

Let's blame TT and the coup!

[TheVillan]

The directors bale out and get away with answering for what has happened?

Let's blame TT and the coup!

It depends entirely how it gets wound up and whether there is evidence that the actions or inactions of the directors who were in place at a point in time contributed to that winding up.

[oche balboa]

o BDO Member Counties
BDO Appointed Managers & Officers
27th March 2020
Dear Member Counties, Sirs & Ladies
BDO FINANCES
As promised in my letter of 21st March 2020 titled “Counties Letter FB1” it was my full intention
to release at this time to this email as follows as requested by the Shareholders:
• Full Accounts for British Darts Organisation Ltd 2018 – 2019
• Full Accounts for British Darts Organisation Enterprises Ltd 2018 – 2019
Plus additional information thus:
• Management Accounts for BDO Ltd – Period 1 June 2019 to 17 March 2020
• Management Accounts for BDO Enterprises Ltd - Period 1 June 2019 to 17 March 2020
For your information I commissioned the Management Accounts to be produced as they give a
full overview of BDO activities for the periods stated
This information would have been made available for Delegates prior to the meeting now
cancelled
However at this stage I am in contact with the necessary professional advisors and I will be
contacting you all again as soon as possible with their advices
I hope that you will understand that I can only act as advised
I would however like to thank you all for your concern at what is difficult time for me and for the
offers of help given – It really is appreciated
I can assure you that I will keep you informed as much as is possible
RESTRICTION OF INFORMATION REQUEST
As requested previously I would be grateful if this and any correspondence with similar
confidential content be kept for the time being at least within the confines of the BDO
Shareholders [the Counties and their members]. Communicate the information internally to your
members by all means but remember that our business is not necessarily anyone else’s
business!!
Thank you for bearing with me and please contact me with any questions as if I cannot answer
these directly I will as soon as it is practicable to do so
Yours sincerely
Frank Branscombe
Director – British Darts Organisation

[oche balboa]

Files in the attachment

[Ginge]

£60k in the bank and £220k in creditors

[Ginge]

Chambers Media owed £3600.

Oh Ben