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Bolton (sold to Football Ventures)
- Thread starter laserblue
- Start date
mexico1970
Well-Known Member
BBC running with the Neymar story followed by the Steve Bruce is marvellous myth, Bury in 3rd position rellevance wise
Neither do I. Didn't mean to type that haha.Not got a clue what that means
That's one to scratch off the City bingo card.Some on red cafe are suggesting that city could end up like Bolton and bury ,if owners pull out. Clueless morons think the sheikh is bank rolling the club haha. Wishful thinking on their part.
When the owners get bored..
OntarioBlue
Well-Known Member
- Joined
- 12 Jun 2016
- Messages
- 12,954
If these figures are correct they are truly staggering. It’s one thing for a wealthy owner to invest (and lose) £175m but how on earth did they manage to rack up third party debt of £175m ? How and why would creditors allow a poorly supported club, with (I assume) little or no assets and poor cash flow to run up such large balances.To be fair I am not sure if the EFL FFP rules were shaped directly by UEFA. But the EFL version must have been influenced by the European model. The debt issue seems ridiculous. I heard today that former owner Eddie Davies wrote off £175 million of debt owed to him and the club had a similar figure owed to other creditors. Christ that's as much as the Glazers' debt at United. How the hell is that even possible? Meanwhile owners like ours who have invested huge amounts to make City totally sustainable (despite the lies of our enemies) are the whipping boys of the media. It is just farcical.
You are spot on in your analysis. Debt is far more dangerous to an organization than overspending today (aka investing) on a business model that will build a viable and profitable business for the future. There is absolutely no way a Club like Bolton or Bury could ever get out from under the weight of debt outside of a return to Premier League , which is highly unlikely, or a takeover by an oil Sheikh.
bobbyowenquiff
Well-Known Member
The actual figure most outlets are quoting is £180m. I have read comments from some fans saying there's too much money in the game at the top level. What difference would that make to the idiots in charge of Bolton who have just literally run the club into the ground. It's even worse than City under Peter Swales ffs. This level of debt would sink plenty of bigger clubs than Bolton.If these figures are correct they are truly staggering. It’s one thing for a wealthy owner to invest (and lose) £175m but how on earth did they manage to rack up third party debt of £175m ? How and why would creditors allow a poorly supported club, with (I assume) little or no assets and poor cash flow.
You are spot on in your analysis. Debt is far more dangerous to an organization than overspending today (aka investing) on a business model that will build a viable and profitable business for the future. There is absolutely no way a Club like Bolton or Bury could ever get out from under the weight of debt outside of a return to Premier League , which is highly unlikely, or a takeover by an oil Sheikh.
dickie davies
Well-Known Member
Bolton had a debt of around £200m., Their owner wrote off £170M and got rid of the club
In 2018 they again were on the brink of administration as they owed HMRC £5m and the former owner gave them the money to settle that debt (he died a few days later)
The current debt is £30M
In 2018 they again were on the brink of administration as they owed HMRC £5m and the former owner gave them the money to settle that debt (he died a few days later)
The current debt is £30M
bobbyowenquiff
Well-Known Member
Thanks for clarifying that. The figures I heard were on Radio 5 live. Still huge debt levels even after the write-off though. I feel sorry for their fans. This is the way City used to be managed financially till David Bernstein became involved so we should have some empathy.Bolton had a debt of around £200m., Their owner wrote off £170M and got rid of the club
In 2018 they again were on the brink of administration as they owed HMRC £5m and the former owner gave them the money to settle that debt (he died a few days later)
The current debt is £30M
whp.blue
Well-Known Member
I have exactly the same level of empathy Bolton showed us in our darkest hours.Thanks for clarifying that. The figures I heard were on Radio 5 live. Still huge debt levels even after the write-off though. I feel sorry for their fans. This is the way City used to be managed financially till David Bernstein became involved so we should have some empathy.
So that is "Fuck them as far as I am concerned".
Hard to find a worse run business in any field.