Bolton Wanderers debt

[gordondaviesmoustache]

"The Bolton Way".

 

[TGR]

You reap what you sow...

 

[Skashion]

You reap what you sow...

In fairness, the FFP rules they helped push through are far less draconian than the ones they're suffering from.

 

[Why Always Ste]

Wandered all the way to Horwich.
You reap what you sow.

Great memories as a child being taken to Burnden park.

 

[mancity dan]

Bolton - FFP not working !!

Bolton in financial trouble as Championship strugglers announce crippling debts of £164mBy Joe Ridge
PUBLISHED: 11:03, 31 December 2013 | UPDATED: 11:31, 31 December 2013
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Bolton Wanderers could be forced to offload their prized assets in January after revealing debts totalling a staggering £163.8million.
The Championship club - who were relegated from the Premier League in May 2012 after spending 12 years in the top flight - have now not recorded a profit for 11 consecutive seasons.
Bolton's parent company Burnden Leisure PLC have reported losses of £50.7m, rising an already substantial 2012 debt figure from £136.5m.
In the red: Bolton have announced debts totalling a staggering £163.8million

Wanderers chairman Phil Gartside said: 'This year's results show the difficulties faced in the football business when a club has enjoyed a sustained and successful period in the Premier League, in our case 11 years, then suffers relegation back to the Football League Championship.'
The £50.7m figure is the single biggest loss in the club's history, and that was lowered by the club according to 'a number of one-off exceptional items relating to balance sheet impairments and other accounting adjustments.'
Bolton cut costs after last year's relegation. The wage bill stands at £32.7m - its lowest level since 2007 - and total staff costs were down to £37.4m from £55.3m. Turnover, however, was down by £30m from £58.5m to £28.5m, with advertising revenue falling from £4.3m to £1.4m.

Perhaps most worryingly, attendances at the Reebok Stadium are down by 28 per cent, meaning gate receipts have dropped from £5.7m to £3.8m.
Struggling on: Bolton chairman Phil Gartside (right) explained the impact of relegation on the club

Forced to sell? Trotter boss Dougie Freedman may struggle to hold on to his prized assets

Gartside thanked the club's owner Eddie Davies for keeping them in business but said they would now be forced to look for other investors because of English football's new Financial Fair Play rules.Gartside added: 'It should go without saying that Eddie Davies continues to provide a humbling level of support to the club.

'However, the financial support given by owners is no longer possible in this league without severe penalty.

'We are responding to a changing environment by improvement and development of the wider Burnden Leisure business interests.

Last time out: Bolton were beaten 5-3 by Leicester on Sunday

'This year we secured sole ownership of the hotel, expanded our education business and applied for planning permission to increase our non-football operations to improve revenues over the medium to long term.

'We will continue to invest, both in the long and short term, where the returns can be justified.

'However, Financial Fair Play rules require an alternative funding structure and Bolton Wanderers is very much moving towards a self-sustainable future.

'Looking forward we have to recognise we are no longer a Premier League club in the Championship, but a Championship club with ambitions to play in the Premier League - a stark reality of the financial rules now imposed.'

Dougie Freedman's side are currently struggling down in 18th place in Championship.



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[TCIB]

Re: Bolton - FFP not working !!

So it begins...

 

[waspish]

Thing is If FFP was in the premier 15 years ago teams with small income wouldn't be in trouble now. But what do disagree with FFP is if a multi billionaire want invest and right of the debt they should be aloud to as long as that club ends up with manageable debt based on income..

 

[Blue Note]

s that's fucked Bolton to play in the champs league

 

[supercrystal7]

Thing is If FFP was in the premier 15 years ago teams with small income wouldn't be in trouble now. But what do disagree with FFP is if a multi billionaire want invest and right of the debt they should be aloud to as long as that club ends up with manageable debt based on income..

I agree with this, but part of the reason FFP was introduced was to stop billionaire's coming in and investing so much. This drives up the money needed for the established clubs to remain at the top and could even replace them. I am all for a club being forced to work within it's means. Palace have gone bust twice in recent times. However, if a rich owner wants to spend then he should be allowed to.

As for Bolton, I still can't hate Dougie. Hopefully this will be a lesson to him. The grass is not always greener on the other side.

 

[ancoats]

I don't see it myself and the amount of debt is to high for Bolton somebody had there hands in the pot and the brown paper big is full of money under that crooks bed ( Phil Gartside )

how can a small club like Bolton be in debt to the tune of £163.00 million
something stinks big time they have never had big money players on big money wages they are a middle of the road club with old time players

the chairman is a joke and how he keeps his job a very well paid job aswell
him and fat sam must have to sleep on the top bunk bed with the amount of brown paper bags under the bottom bunk