Another Portsmouth waiting to happen. Punched above their weight for far too long overpaying mercenary footballers from finance they dont have! (*How do I duplicate post this on the Bolton message board at the same time as ours?)
Don't think they are,most people who are Bolton fans that I know say that they have been quite thrifty with their money, unlike Pompey, seems injuries have caught up with them this season. Wigan are in a similar boat,. I expect Bolton to bounce back at the first attempt,they don't really have great players so can't see them losing them to lesser PL teams & as long as Coyle is boss, they'll be ok.
According to David Conn as at May 2011 Bolton were £93m in debt. The parachute payments will make a hole in that but if you ask me they will have nothing left once they have sold most of their squad to pay the difference.
Must admit the figure I quoted was from 2010, on that basis you're looking at £100 million debt and a premier league wage bill with no major assets, frightening that in the eyes of their fans they've been thrift!!!
This is not what comes across with Boltonites!, plus they have no major player assets so if the 85mill or more is true then maybe they are financially screwed. But I don't know for sure, just what people tell me that I know.
Don't know how rich their owners are but I know their 2010 accounts showed £85 million of debt, it could be that the owners are wealthy enough to under write such debt, if not it's yet another train wreck waiting to happen, you may or may not agree with their methods but the Allams are right, football clubs are businesses and they need to be self sustaining, football is slowly killing itself, every season at least one club relegated from the premier league seems to face a fight for survival, that may well be two this season.
I don't get it, where could they have spent all this money? They've been signing players from Burnley and they haven't got any marquee signings, where could the money have gone? Have they done a City? Also mussie, why the hell do you think they would want to read this on their board? I imagine they'll still be pretty hurt that they just got relegated to a goal that should never have stodd in a million years.
They've steadily wracked it up over the years, they've had marquee players in the past and have managed to pay Kevin Davies a rumored £50k per week for years. Most clubs of a similar size to us that makes it to the premier league end up in that position as you have to pay over the odds to attract players and if you don't you have no chance.Stoke have been held up as a shining example of how it should be done, yet in the two seasons we were up there they spent £50 million more than us!
Look at them a few years ago, getting results against Red Star Belgrade, Zenit St Petersburg, Sevilla, Atletico Madrid, Bayern Munich, etc. I think their spending has/will definitely come back to bite them on the arse.
Elmander - £11m Muamba - £5m Zat Knight - £4m Ricketts - £2.5m Lee Chung-Yong - £2.2m Matt Taylor - £5m Steinsson - £3.5m N'Gog - £4m Eagles & Mears £3.5m combined Sordell - £4m And many more undisclosed. The thing is, with the exception of Anelka and Cahill (even he was only £2m profit) they haven't really sold too many players for good fees, but they've spent £2.5m+ on plenty of signings. Two notables ones above would be Elmander signing for £11m and leaving for free, and Matty Taylor signing for £5m and leaving for around £900k. Granted we lost £5m on Bullard but their overall spending over recent years and their overall wage budget is much, much more worrying than ours ever was.
I can see Blackburn in the same boat. Bet their debts, wage bill and player assets are pretty similar. Plus they have a clueless manager.
A couple of weeks ago I expected them to get out of it and QPR to drop. If West Ham lose the play off final added with the 3 teams coming down then the Championship is gonna be even tougher next year.
Bolton's debts are way bigger than the net worth of their owner, they are definitely a bit ****ed now. Though they're not paying Sam Ricketts anything like £45k a week, he'll be on around £20k.
Not sure which Bolton fans you've spoken too, but this will be a financial catastrophe for them. They are screwed!
