Nearly 173 million in debt. 600k in unpaid taxes and players didntb get paid last month. May face a winding up order, administration with a 12pt deduction. One of SA former clubs, a club he did well at. Bit of a shame, nowt wrong with BWFC. A good old fashioned club with lots of history. How has it all gone so wrong?
It's a real shame for the fans of that club if they do go under and how many more Are going the same way? The football clubs in this country have been taken over, IMO, by gangsters, gambling and complete idjiots. Last nights Panorama programme on the BBC, revealing the extent of corruption in FIFA was utterly sickening and shocking. I, for one, cannot believe that those running the English leagues have not been involved, as there are too many 'suspect' owners clamouring to get hold of a team.
This is what can happen when there's no proper financial governance at a club. Where boards and owners can both badly manage and often speculate, often whilst under intense pressure from fans to spend, and ultimately lose. Relegation, if badly managed, and not risk pre-mitigated, can destroy a club. I feel for those true Bolton fans who could soon lose their club and I'm just happy we've got an owner who keeps an eye on the long term future of mackem fc.
Spending beyond your means eventually catches up with you. Bolton have been financially mis-managed for years and their debt problem has got to the point were it's going to topple them. They'll end up coming out of the ashes, but there's pain ahead in the short and medium term for their followers. Portsmouth comes to mind......
I don't know how, Sid, but it's been coming for a good while now. I read that they were £168m in debt a good eighteen months ago. The owner, who has loaned them all of that, is prepared to write it all off if he can get an offer that will see them survive, but not even that's going to be easy - they need an extra £15m even to see them till the end of this season! But they're bottom of the Championship with 12 points from a possible 57 (19 games in) so potential buyers are being asked to take on a lot of trouble with probable third tier revenue next season. It looks pretty bad right now. It's so sad - I saw them in their pomp, with old Nat Lofthouse giving everybody holy hell.
My brother in law and his kids are big bolton fans. Used to love going to burnden park when they played us. Even went to Wembley to watch them in a play off final. Watching alan stubbs, big sam, owen coyle, peter reid big john byrom,barry siddall, roy greaves, paul jones and others was always worth the entrance fee. They have had some cracking players in thir time. Hope it works out for them
Bloody shame. Fine old club. Went to their old ground back in the 70s. Bit of a dump if I recall correctly. But you'd think they'd be set with the "new" stadium and Big Sam's success there...?
More than 300 staff at Bolton Wanderers could go without pay this Christmas as the club's financial problems continue. According to the Bolton News, the matter hangs on whether the club can find a new buyer in the next seven days, with other short-term funding options being investigated, which are thought to involve the hotel and offices adjoining the ground. Bolton owe about £600,000 in unpaid taxes and have £172.9m of debt, and expect to receive a winding-up petition from Revenue & Customs soon.
Its a sad scnerio.. We may look from outside and think Oh well We have ES. Cant happen. Decenr clubs are going tits up. We want the elite. They dont function without the underdogs.
