I was reading through the bbc sport website and it says on there that Bolton are £136m in debt and made a £26m loss last year, even with the £10m sale of Cahill to Chelsea. How is it that even with thier long run in the premier league that they are still in so much debt? It's scary really. There must be loads of clubs like them.
Slightly OT, but also how is it Everton have never been out of the top flight, let alone the Premier League but supposedly have to work to a limited budget ? A case of gross mismanagement of a football club surely ?
an amazing amount of debt but hats off to whoever got a numpty to give them the credit, bet thats one banker who will not be getting a Christmas bonus
That's just the issue though in banking! Failure is rewarded the same as success, they get a whacking great payout whatever the weather.
I couldn't believe the Bolton figures. Surely they meant £13.6M? £136M has got to be quadruple what the club is worth.
I was shocked and my first thought was that they had got it wrong. But it's been up for some time now. Losing £26m after falling out of the prem is fairly normal I suppose? But you would hope after all the time they have spent in PL and the money they should of earnt that they would be failry cash rich and not struggle too much. A bit like Burnley.
With those figures someone should ask Phil Gartside if he still thinks no promotion and relegation to and from the premier league is a good idea.
I presume that the Reebok was funded through debt (and a certain brand of sportswear) and Bolton had to pay a fair bit to attract decent players to go and play fior and live in Bolton. They have not had huge attendances and must have traded at a loss year on year. This is all OK if the Sky cash cow remains but if you drop out of the premiership then you are toast. They are not the first club to live beyond their means and certainly will not be the last - look at Pompey/Hull in recent seasons having to sell of their better players at fire sale prices. There is nothing like a good relegation to sell all your players off on the cheap to reduce the wage bill but also crystalise losses on their disposal. If Bolton's players had contract with no reduction in wages following relegation then it is easy to seehow huge losses could quickly rack up. I am hugely glad that we are not in that position and that given our recent financial scrapes we should never follow that path again.
That's me!!!! Well posh boys Cameron Clegg and Miliban are never going to sort it so come on brothers lets march........... Oh sod it need to finish my G&T first!
